Veolia Environnement S.A.

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).
  • TickerVIE
  • ISINFR0000124141
  • ExchangeEuronext Paris
  • SectorGas, Water & Multi-utilities
  • CountryFrance

Analysts

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Laurence Hofmann
  • Louis Boujard
  • Philippe Ourpatian
  • Roland Pfaender
  • Samantha Jeary
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/19/2019

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Laurence Hofmann
  • Louis Boujard
  • Philippe Ourpatian
  • Roland Pfaender
  • Samantha Jeary
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 19/03/2019

...

Louis Boujard ...
  • Philippe Ourpatian

Veolia : Measured optimism in 2019 for a regenerated group

>Buy recommendation and target price of € 30 confirmed - Veolia’s performance in 2018 illustrates both the completed financial restructuring of the group and the industrial repositioning of its activities. 2019 bodes to be in line with the guidance already published and updated for forex effects and IFRS 16. Management's stance betrayed a certain confidence, mixed nonetheless with the necessary caution regarding the sustainability of favourable economic trends. As is ...

Louis Boujard ...
  • Philippe Ourpatian

Veolia : Un optimisme mesuré pour 2019 pour un groupe régénéré

>Recommandation Achat et OC 30 € confirmé - Les performances 2018 de Veolia illustrent une nouvelle fois la restructuration financière achevée du groupe et le repositionnement industriel des activités. L’exercice 2019 s’annonce en ligne avec les guidances d’ores et déjà publiées et mises à jour des effets de change et de l’IFRS 16. Teinté d’une certaine confiance, avec toutefois la prudence qu’il convient de conserver quant à durabilité des tendances économiques favor...

Tancrede Fulop

Morningstar | Veolia Adjusts 2019 Guidance in Line With Expectations; Shares Fairly Valued

We reiterate our EUR 19.60 fair value estimate and no-moat, stable trend ratings for Veolia after the company released full-year results and adjusted 2019 EBITDA guidance both in line with expectations. The group increased its 2018 dividend by 10% to EUR 0.92, above our EUR 0.89 forecast, implying a dividend yield of 4.7%, slightly below the 5.1% sector average. The shares look fairly valued to us. Revenue came in at EUR 25.9 billion, up 4.7% organically, in line with the trend of the first nine months. Waste volume growth slowed slightly to 2.5% in the fourth quarter from a high 4% at the en...

Tancrede Fulop

Veolia Adjusts 2019 Guidance in Line With Expectations; Shares Fairly Valued

We reiterate our EUR 19.60 fair value estimate and no-moat, stable trend ratings for Veolia after the company released full-year results and adjusted 2019 EBITDA guidance both in line with expectations. The group increased its 2018 dividend by 10% to EUR 0.92, above our EUR 0.89 forecast, implying a dividend yield of 4.7%, slightly below the 5.1% sector average. The shares look fairly valued to us. Revenue came in at EUR 25.9 billion, up 4.7% organically, in line with the trend of the first nine...

Louis Boujard ...
  • Philippe Ourpatian

Veolia : 2018 as good as expected, good dividend growth and 2019 guidance unchanged

>2018 slightly better than expected - Veolia’s 2018 results were just disclosed and are in line our expectations and the average consensus forecast. Revenues reached € 25.911bn (4.7% organic growth vs 4.7% in 9M 2018) slightly higher than the € 25.690bn we expected (vs consensus € 25.596bn). EBITDA reached € 3.392bn, in line our expectation (€ 3.395bn, in line with consensus), underlying internal growth of 4.8% (vs 4.7% in 9M 2018) including € 302m of cost savings in...

3 directors bought/sold after exercising options

Three Directors at Veolia Environnement bought/sold after exercising options 31,156 shares at between 19.045EUR and 19.332EUR. The significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where tradin...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Laurence Hofmann
  • Louis Boujard
  • Philippe Ourpatian
  • Roland Pfaender
  • Samantha Jeary
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/19/2019

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Laurence Hofmann
  • Louis Boujard
  • Philippe Ourpatian
  • Roland Pfaender
  • Samantha Jeary
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 19/03/2019

...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/22/2019

The tragedy which struck the Brumadinho complex (state of Minas Gerais in Brazil) belonging to mining giant Vale has radically changed the fundamentals underpinning supply and demand in the iron ore market. Accordingly we are revising up our price scenario for 2019-2021 by 15% on average and are adopting a Neutral recommendation on Rio Tinto (vs Reduce) which has the greatest exposure. We are sticking with our Buy recommendation on ArcelorMittal. - ...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 22/02/2019

La tragédie du complexe minier de Brumadinho (Etat du Minas Gerais au Brésil) appartenant au géant minier Vale change radicalement les fondamentaux offre/demande du marché du minerai de fer. Aussi, nous relevons en moyenne de 15% notre scénario de prix pour 2019/2021e et adoptons une opinion Neutre sur Rio Tinto (vs Alléger) qui y est le plus exposé. Nous maintenons notre Achat sur ArcelorMittal. - ...

Alain William ...
  • Alexandre Iatrides
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Christophe Chaput
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Roland Pfaender
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/21/2019

...

VEOLIA ENVIRONNEMENT with less fundamental stars is reduced to Neutral

VEOLIA ENVIRONNEMENT (FR), a company active in the Water industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date January 29, 2019, the closing price was EUR 18.23 and its expected value was estimated at EUR 18.08.

Veolia Environnement

Veolia Environnement

Veolia Environnement

Veolia Environnement

MarketLine Department

Waste Management, Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Waste Management, Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Waste Management, Inc. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advan...

MarketLine Department

Mitsui & Co., Ltd. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Mitsui & Co., Ltd. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Mitsui & Co., Ltd. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. K...

MarketLine Department

SNC-Lavalin Group Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's SNC-Lavalin Group Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by SNC-Lavalin Group Inc. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advan...

Veolia - Assemblée générale des actionnaires du 18 avril 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

Veolia – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Charles Pinel

Proxy Report - 19/04/2018

The Company refers to the AFEP-MEDEF Code of Corporate Governance and reports compliance with all the provisions of this code. In particular, the company applies the criterion of directors' term of office as a criterion of independence provided for by the AFEP-MEDEF Code (12 years) whereas it rejected it until now without any relevant justification. Louis Schweitzer and Baudoin Prot are concerned by this change which is important since Louis Schweitzer was vice-chairman and lead director. This is why Maryse Aulagnon has become the lead independent director. Antoine Frérot is one of the many C...

Charles Pinel

Proxy Report - 19/04/2018

La société applique enfin le critère de la durée de mandat des administrateurs comme critère d'indépendance prévu par le code AFEP-MEDEF (12 ans) alors qu'elle le rejetait jusqu'alors sans justification pertinente. Louis Schweitzer et Baudoin Prot sont concernés par ce changement qui n'est pas sans importance puisque Louis Schweitzer était vice-président et administrateur référent. C'est pourquoi Maryse Aulagnon est devenue administratrice référente indépendante. Antoine Frérot fait partie des nombreux Président-Directeurs généraux du CAC 40 dont le renouvellement est demandé cette année. Mal...

Etude de l'AG du 20/04/2017

Antoine Frérot a renoncé à sa rémunération de long terme (actions gratuites et de performance) afin de contribuer au plan d'économies supplémentaires mis en place par le conseil d'administration. Si cette décision est louable, Proxinvest regrette que la contribution d'Antoine Frérot au plan d'économies ne se soit pas plutôt traduit par une renonciation à son bonus annuel, afin qu'il conserve une rémunération qui soit fonction de ses performances de long terme (résolution 11). De plus, la société ne prévoit pas de rémunération de long terme y compris pour l'exercice 2017 (résolution 10). Nous n...

Jérôme VINERIER

Analyse court terme - VEOLIA ENVIRONNEMENT : La tendance est baissière.

La tendance est baissière. Le rebond gagne en vigueur. Il est probable que cette reprise s'achève sur la résistance à 17,400 € et que les prix baissent à nouveau vers 16,200 €. La tendance de fond serait remise en cause en cas de franchissement de 18,000 €.

Jérôme VINERIER

Short term view - VEOLIA ENVIRONNEMENT : The trend is bearish.

The trend is bearish. The bounce is gaining strength. The bounce might end at the resistance at €17.400 and prices would fall again toward €16.200. The background trend would be questioned should prices rise above €18.000.

Jérôme VINERIER

Analyse court terme - VEOLIA ENVIRONNEMENT : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 17,400 € prochainement. Le prochain objectif est à 16,200 €, puis 15,392 €. Le franchissement de 18,000 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - VEOLIA ENVIRONNEMENT : The background trend is clearly bearish.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €17.400. The next target is at €16.200, then €15.392. Passing €18.000 would question the continuation of the fall.

Jérôme VINERIER

Analyse moyen terme - VEOLIA ENVIRONNEMENT : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 15,195 €, puis 13,781 €. Le franchissement de 21,416 € remettrait en cause la suite de la baisse.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch