Veolia Environnement SA

VIE: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€87.00	Hmmmpb	Srnlwjmly

Veolia Sets 2023 Guidance in Line With Expectations, Confirms 2024 Guidance; Shares Fairly Valued

Tancrede Fulop

Mar 2, 2023

We don't expect to materially change our EUR 30.5 fair value estimate after Veolia released 2022 results above consensus it polled for the bottom line, set 2023 guidance in line with consensus, and confirmed its 2024 target. The group will pay a dividend of EUR 1.12 on 2022 results, 12% higher than the previous one and implying a 4% yield. Shares are in 3-star territory.

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