Veolia Environnement: Annual Results 2020

Revenue was € 26.010 million compared to € 27.189 million in 2019, down 4.3% at current rates, 2.9% at fixed exchange rates and 2.5% at fixed scale and exchange rates.

The exchange rate variance was unfavorable of 1.5% with the development of the business volume for FY 2020 (- € 401 million).

At constant exchange rates, the change in activity was -2.9%, penalized in the first quarter (-1.3%) and in the second quarter (-11.0%) by restrictions imposed due to the health crisis and then recovered in the third quarter (-0.6%) and returned to growth in the last quarter ( + 0.9%).

In the fourth quarter, despite the second wave of the epidemic that affected the activity in university and commercial waste, whose volumes decreased slightly compared to 2019, the geographical sectors, France and Europe excluding France, confirmed the remarkable growth from the third quarter of the fiscal year. Public. The group’s operations in the rest of the world have nearly returned to their 2019 level of activity in the fourth quarter (fourth quarter 2020 revenue represents 98.5% of the comparative period at fixed range and fixed exchange rates, excluding the elimination of district heating in particular networks in the US in 2019. ). Global activities have stabilized after the rebound in the third quarter (especially in construction) in the last quarter.

Throughout the year, at fixed exchange rates, the 2.9% decrease in sales volume is mainly due to the effects of the health crisis on activity and business volumes, which amount to 915 million euros (i.e. -3, 4%), a range effect of – 102 million euros ( -0.4%) linked to the disposal of municipal heating activity in the United States in December 2019, partially offset by the acquisition of hazardous waste in Chile in 2019 and by 2020 from plastic recycling activity in Spain, waste treatment in Russia and energy services in Central and Eastern Europe. The price effect of energy and recycled materials is almost zero, at -40 million euros, that is -0.1%, with a positive effect of energy prices + 68 million euros more than offset by the effect of a decrease in recycling – 108 million euros. Prices for services increased by 1.0% (+ 286 million euros). The climate effect is neutral.

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In the waste sector, the effect of the decrease in volumes was -5.2%, while the decrease in the prices of recycled raw materials led to a decrease of -1.1%.

By geographical region and at fixed exchange rates, the changes were as follows:

  • In France, activity was down -3.9%. Water decreased -2.2% due to reduced work in the first half of the year related to containment measures. After the first half decreased by 6.4%, the second half returned to a healthy growth rate, at + 1.7%, with the fourth quarter growing at + 2.5%. Over the year, volumes increased 0.8% after a year already growing in 2019 and prices increased 1.5%. Waste posted a decline of -5.9%, with volumes down -5.7%, prices up + 2.3% and a drop in recycled raw material prices that fell sharply in the starting year, then increased. Waste returned to growth in H2 (+ 1.6%), with an increase in particular of + 2.5% in the fourth quarter.

  • Europe excluding France showed good resistance to the crisis, growing + 0.4%, with the fourth quarter up + 5.3%. This growth is mainly driven by Central and Eastern Europe, which increased + 6.3% during the year and + 14.9% in the fourth quarter. Energy activity registered + 7.1% growth, thanks to tariff increases, favorable weather at the end of the year, and the resumption of the Prague Reef Druit heating network and the cogeneration unit in Budapest. Water grew + 1.3%, with higher prices and good volumes outside of Prague, due to weak tourist activity. Northern Europe decreased -3.1% during the year, due to lower volumes of industrial and commercial waste in Germany and lower prices and volumes of recycled materials, but increased by 1.1% in the fourth quarter thanks to a return to normal activity level. The UK (including Ireland) is down 4.6% under the impact of containment. Industrial and commercial waste volumes returned to about 90% of 2019 levels in the third quarter and decreased again in the fourth quarter. Participating financial intermediary activity remained strong, with availability reaching 94.1% compared to 93.8% in 2019, while warehousing recorded a decrease of 7.6%. Good operational efficiency made it possible to offset the decrease in trading volume in terms of EBITDA. Southern Europe grew + 2.1% during the year and + 6.1% in the fourth quarter, with momentum being particularly good in Spain and Portugal.

  • The rest of the world is down 1.7% with fixed range and exchange rates. Asia exited 0.7%. Growth was hampered by business terminations in Hong Kong and Japan. China returned to growth, with an increase of + 4.1% in the fourth quarter, driven in particular by strong growth in hazardous waste business (+ 27%). Latin America rose 6.6% thanks to a healthy price index and targeted acquisitions. North American exchange rates fell 3.2% in fixed range and exchange rates, mainly due to reduced activity in oil refineries. Good resistance in the Pacific, roughly stable, at -0.7% during the year and up to + 0.8% in the fourth quarter. The Africa and Middle East region has been stable throughout the year.

  • Global business declined 5.3% in fixed currency and was flat in the fourth quarter. Construction activity recorded growth in Veolia Water Technologies (+ 3.7%), with good performing in the desalination business in particular, and Sade declined 6.8% but rebounded strongly in the second half as business resumed after containment (+ 8.1% in Q4 with flat range And exchange rates). The toxic waste business suffered from industrial activity shutdowns during the first half of the year and returned to volumes close to those of 2019, with the unfavorable impact of recycled oil prices. Multi-industrial and energy service activity decreased by 17% under the impact of reservation.

According to work and fixed exchange rates, Water prices decreased slightly -1.0%, with volumes stable (-0.2%), prices increased 0.7%, but works activity was temporarily hit by sanitary measures. Waste decreased – 3.2%, volumes decreased -5.2% and prices increased + 2.0%. Energy decreased by -5.8% but only -2.0% compared to the same after the US heating business was sold at the end of 2019.


Veolia Environnement SA Post this content on February 25, 2021 He is solely responsible for the information contained therein. Distributed through General, Unedited and unaltered, dated February 25, 2021 06:41:00 UTC.

Publicnow 2021


Analyst Recommendations for VEOLIA ENVIRONNEMENT

CA 2020 26 044 m
31712 m
Rsultat net 2020 333 m
406 m
This is stylish 2020 11948 m
14 548 m
Per 2020 33.0 times
Return 2020 3.07%
Capitalization 13218 m
16037 m
VE / CA 2020 0,97x
VE / CA 2021 0,92x
It employs Nbr 171212
floating 95.5%


Veolia Environnement: Veolia Environnement Technical Analysis Chart |  Stock market

Trends in Technical Analysis VEOLIA ENVIRONNEMENT

Terme Court Middle term Long Terme
trends neutral rising rising

Evolution of Profit and Loss Account


a discount

Average recommendation plural
Analyst number 11
Average course goal

2513 euros

Last closing price

2,335 euros

The gap / target is high 32.3%
Deviation / mean target 7,60%
Low drift / target -20.8%

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