Antoine Frérot at Investir Day 2021: “We have a decisive advantage for a successful merger with Suez: the cultures of the two companies are very similar, as are our outlooks on the business and its future. ”
November 26, 2021 at 04:30 am EST
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Ecological transformation depends above all on investing
Interviewed on November 18 on the Veolia-Suez merger, Claude Laruelle, Deputy CEO in charge of finance at Veolia, presented the schedule and financing of this project:
"On July 30, 2020, Engie put its stake in Suez up for sale. The geographic and business complementarities of Veolia and Suez in water and waste allow a size effect of +35%, the equivalent of 10 years of growth. This merger is a decisive advantage to invent the solutions of tomorrow and face up to the competition. Today, in 18 countries, we have already obtained 11 authorizations. We expect that of Europe in mid-December. Then the AMF will give us a notification for a sale period of Suez shares. And we are planning an exit of Suez from the stock market in February 2022. This financial operation is based on a hybrid debt, on a capital increase of 2.5 billion euros, and on the sale of the assets of the new Suez to Meridiam. It preserves Veolia's investment capacity with a "net debt to Ebitda" ratio which remains less than 3. Indeed, our shareholders want a company that can invest, because ecological transformation depends above all on investing. In addition, the figures of the last 9 months show that we have totally erased the negative impact of the health crisis. "
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Veolia Environnement SA published this content on 26 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 09:29:06 UTC.
Veolia Environnement is the world leader in environmental management services. Net sales break down by activity as follows:
- water-related services (40.6%; No. 1 worldwide): water resources management, drinking water distribution and delivery, wastewater collection, treatment and recovery, engineering, design, construction of water treatment facilities and customer relationship management, etc.;
- waste management services (32.4%; no. 1 worldwide): collection, treatment and recycling of liquid, solid, non-hazardous and hazardous waste, waste treatment and recovery through composting, energy recovery from waste, etc. Veolia Environnement also provides urban waste management services (maintenance and cleaning of public spaces, provision of mechanized street cleaning and façade treatment services), maintenance of industrial sites, and dismantling of industrial facilities and equipment at the end of their useful life;
- energy services (27%; No. 1 in Europe): delegated management of urban heating and air conditioning networks, management of thermal and multi-technique services (operation of heating systems, facility design, construction, and maintenance, etc.) and industrial services (industrial process analysis, production equipment operation, service, and maintenance), general management of buildings and public lighting.
Net sales are distributed geographically as follows: France (21.5%), Europe (41.9%), North America (7.4%), Asia (5.6%), Africa and the Middle East (4.9%), Pacific (4.3%), Latin America (4%) and other (10.4%).
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