Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Veolia : The starting point for the affirmation of the model

>Outperform rating and target price of € 43.4 - The performance at end-September 2022 was broadly in line with our estimates, with an extremely brisk activity level that continued in October. The 2022 guidance is confirmed but EBITDA growth should come to the upper end of the range (+4-6%). We have factored in the divestment of the waste activity in the UK to the new Suez, resulting in a slight dilution in 2023-2027 EPS (-1.7%). The current share price is looking brig...
Underlying
Veolia Environnement SA

Veolia Environnement provides environmental management services to public authorities, industrial and commercial services customers, and individuals worldwide. These services include the supply of water, the treatment and recovery of municipal or industrial effluent, waste collection, processing and recycling, the supply of heating and cooling services and the optimization of industrial processes. Co.'s business operations are conducted through three divisions, each specializing in a single business sector: Veolia Eau (Water), Veolia Energie (Dalkia, Energy Services) and Veolia Proprete (Environmental Services).

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

ResearchPool Subscriptions

Get the most out of your insights

Get in touch