As the turnover it remained almost stable 08 0

The explanations of Henri Proglio, Chairman of Veolia Environnement, have persuaded scholars. Yesterday, following the publication of the results of the Group of services to the environment for the first half of the course of action was unscrewed 6,06 22,87 euros, showing the largest decline of the CAC 40. Over the first six months of 2008, the net result share group fell by 56, to EUR 220.3 million. The operating result is also fell by 23, to EUR 1 billion. As the turnover, it remained almost stable (-0,8, 0.2 at constant exchange rates), to EUR 17.4 billion. While acknowledging that the results are "totally unsatisfactory", the President of the Group considers have achieved the goals for 2009 to generate a "free cash flow" positive (cash disponible) after payment of the dividende.

Veolia cleanliness in difficulty

The company undergoes head-on the collapse of the volume industrial waste linked to the economic downturn, and finds even a slight decline of household waste collected for municipalities. The decline in volume is 5, to which must be added the decline in prices of raw materials recycled from 40 to 50. Restart yesterday the blast of ArcelorMittal in Hayange, in Lorraine, however is good news, signe in the metals industry, and therefore of scrap metal, began to recover. The turnover in the treatment of waste is eroded 13.1 at constant perimeter in France. In total, Veolia cleanliness activity has fallen by 10 to 5 billion.

Conversely, the subsidiary of distribution of water has been a croissance of 4.2 of the turnover. If the volumes consumed in the hexagon are eroded by 1, the international was marked by an increase of 2.7 of net sales ( 1.5 at constant rates and perimeter). Water engineering and processing activity has continued to well. The energy industry has been marked by a EUR 97 million negative Exchange effect related to the evolution of the devises of Eastern Europe. The harsh winter, however, had a favourable effect primarily in France ( 48 million euros).

Tight schedule

Smallest of the four trades of the group, the transport sector represented in the first half turnover of 2.9 billion euros ( 3). The coming months will be crucial for this subsidiary, with the continuation of discussions from the sale of the cargo activity and especially the approximation of the public transport with Transdev activity.

The schedule is tight, with a goal of all complete by the end of the year. If it is already decided that Veolia will be the industrial operator of the new ensemble held equally with the Caisse des Dépôts, management will be announced in September. It will also continue discussions with the RATP, shareholder of 25 of Transdev, which should receive assets in exchange for its participation. The final agreement is expected in November, with passage before the authorities of the competition in December. In agreement, the new group, which will weigh net sales EUR 8.3 billion, should be introduced on the stock exchange as soon as market conditions permit. Negotiations continue with EDF, who wishes to strengthen its position in the subsidiary of Dalkia energy, operational control is owned by Veolia.