Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on VEOLIA ENVIRONNEMENT. We currently have 9 research reports from 2 professional analysts.
|21Nov16 01:30||PRN||Veolia webcast presentation now available for on-demand viewing: dbVIC - Deutsche Bank ADR Virtual Investor Conference|
|10Nov16 01:30||PRN||Veolia to present at the dbVIC - Deutsche Bank ADR Virtual Investor Conference on November 16, 2016|
|10Nov16 01:00||PRN||International companies to host live webcasts at Deutsche Bank's Depositary Receipts Virtual Investor Conference on November 16th and 17th, 2016|
|09Aug16 12:00||PRN||Veolia builds training facility at its Pennsylvania nuclear services site|
|03Aug16 01:00||PRN||New London, Connecticut Extends Partnership with Veolia and Implements New Utility Billing Program|
Frequency of research reports
Research reports on
Q3 16: weak top-line, compensated by cost cutting
03 Nov 16
Veolia released Q3 16 results. Revenues reached €18,288m (-3.2%, -1.2% at CER), EBITDA €2,206m (+2.7% and +5.1% at CER), EBIT €979m (+4%, +7.3% at CER) and net result €421m (+2.9%, +8.8% at CER). Net debt at 30 September reached €8.88bn (vs €8.98bn last year and €8.68bn at 30 June). The group reiterated its yearly targets, with a lower turnover goal though (flat turnover vs « slight increase », increase in EBITDA, free cash flow of at least €650m, net current result of at least €600m) and its FY18 targets announced in December last year.
Veolia is best Utility Company in Europe. Period
21 Sep 16
Veolia H1 2016 Top-Line growth was -1% L-f-L as Company had no new Orders and Sales were negatively impacted by drop in Construction billing (should slip to EUR 2 Bln from current EUR 2.5 Bln p.a. over the time) and lower Energy prices H2 2016 will be above H1 2016 at Veolia, thanks to EUR +200 Mln of new Orders (plus another EUR 300 Mln effective in 2017 = EUR 500 Mln total) and EUR -130 Mln of extra cost-cutting (after EUR -120 Mln in H1 2016 = EUR -300 Mln total this year) We expect 2016 Ebit at EUR 3.15 Bln (from EUR 3 Bln in 2015) and EUR 3.5 Bln in 2017 (both figures are revised up from EUR 3.1 Bln in 2016 and EUR 3.3 Bln in 2017 when we last met Company in May 2016) - Ebitda Margin was 13.2% in H1 2016 and will reach 13.5% by end of 2016 from 12.4% in H1 2015 (+ 110 Bps is massive for an Utility Company !)
H1 16 : a good set of results supporting our valuation
01 Aug 16
Veolia released H1 16 numbers. Revenues were down 2.9% to €11,956m (-1% at CER), EBITDA up +3.2% to €1,580m (+5.6% at CER), current EBIT up +5.3% to €749.7m (+8.2% at CER) and current net up +6.4% to €341.8m (+10.1% at CER). Net debt debt stood at €8,678m at the end of Q2 (€9.2bn a year ago, €8.3bn in Q1). The group confirmed its FY outlook (revenues and EBITDA growth, free cash flow over €650m, current net income over €600m). Lastly, the group announced the disposal of a 20% stake (from 50%) in Transdev to Caisse des Dépots (the co-owner of Transdev), with an option to sell the remaining 30%.
Small acquisition in the US in the industrial waste segment
15 Jun 16
Veolia has announced it has acquired in the US Chemours’ Sulfur Products division, which specialises in the recovery of sulphuric acid and gases in the refining process. These are regenerated into clean acid and steam which are used in a wide range of industrial activities. The turnover acquired is US$262m with 250 employees for a consideration of US$325m.
Q1 16 results in line
04 May 16
Revenues were down 3.4% to €6,089m (-1.7% at constant scope and forex), EBITDA up 3% to €840m (+5% on a constant basis), EBIT up 4.2% to €413m (+7.5%) and net income up 16% (excluding last year’s capital gains) to €173m. Net debt amounted to €8,265m vs €8,170m at year-end 2015 and €8,970m in Q1 15.
FY15 results confirm the group is back to normality
25 Feb 16
Veolia's FY15 results were disclosed. Revenues were up 4.5% to €24,965m (and +1.4% at CER), EBITDA up 11.3% to €2,997m (+8.1% at CER and +5.3% comparable at CER), current EBIT up 25% to €1,315m (+20.3% at CER, +18.6% comparable). Net debt reached €8,170m (vs €8,977m in Q3 and €8,311m a year ago). The dividend proposed will be €0.73 (vs €0.70). The outlook for the current year calls for revenue and EBITDA growth, a free cash flow of at least €650m and net income of at least €600m, in line with the trajectory of the 2016-18 business plan, which aims at reaching revenues of €27bn, an EBITDA of €3.5bn and net income of €800m at year-end 2018 with a c.€1bn free cash flow.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
N+1 Singer - Small-cap quantitative research - Momentum screen refresh + 10 focus stocks
12 Jan 17
We have refreshed our momentum style screen for the first time since inception on 26 July 2016. As before, the screen selects the 25 stocks exhibiting the most extreme momentum characteristics, according to our measurement method. From these we have selected 10 to focus on. Since inception the screen has underperformed both the main small-cap and micro-cap indices against a background of generally rising momentum. We have noted a subset of the basket, where decelerating momentum at the time of measurement appears correlated with significant share price falls since selection. We shall monitor this factor with the new screen, albeit there are only two such stocks showing this pattern, namely Lamprell (not rated) and Gear4music (not rated).
N+1 Singer - Morning Song 12-01-2017
12 Jan 17
As anticipated, the second half has again been stronger than H1 and results will be broadly in line with expectations. In line with this, the order book has continued to grow and is at record levels. This confirms that significant progress has been made in the Group’s shift towards its Technology Products division which, as targeted, contributed c.60% of group revenue in FY16. The small acquisition of Cable Power also gives a complementary boost to the product range. It is also worth noting the significant reduction in net debt, £1.0m ahead of our forecast. We remain supportive of the Group’s strategy and continue to see a bright future as this transition towards a design led technology solutions business continues. We look forward to more detail in March at the final results.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.