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Veolia Environnement SA VIE

Rating as of

Morningstar’s Analysis

Valuation
Currency in EUR
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Veolia Posts Solid Nine-Months Results, Conservatively Maintains 2021 Guidance, Shares Fairly Valued

Tancrede Fulop, CFA Senior Equity Analyst

Analyst Note

| Tancrede Fulop, CFA |

We don't intend to materially change our fair value estimate of EUR 30 after no-moat Veolia released strong nine-month results and conservatively maintained its 2021 guidance. Veolia aims to close the tender offer on 70.1% of Suez shares it does not own around year-end after the clearance of European Union antitrust authorities expected by mid-December. Shares look fairly valued. 

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Company Profile

Business Description

Veolia is the largest water company globally and a leading player in France. It is also involved in waste management with a significant exposure to France, the United Kingdom, Germany, the United States, and Australia. The third pillar of the group is energy services, giving the group significant exposure to Central Europe. Veolia started to refocus its activities in 2011, leading to the exit of almost half of its countries and of its transport activity, which should be completed within the next few years.

Contact
30, rue Madeleine Vionnet
Aubervilliers, 93300, France
T +33 185577000
Sector Industrials
Industry Waste Management
Most Recent Earnings Dec 31, 2008
Fiscal Year End Dec 31, 2021
Stock Type
Employees 181,514