Veolia Environnement : Harf-yearly financial report 2021

Half-yearly financial report 2021

2	VEOLIA ENVIRONNEMENT - HALF YEARLY FINANCIAL REPORT 2021

CONTENTS

Message from Antoine Frérot ..................................................................................................................................	4
1. OPERATING AND FINANCIAL REVIEW ............................................................................................................	5
1.1	Suez combination...................................................................................................................................	6
1.2	Major events of the period......................................................................................................................	7
1.3	Accounting and financial information....................................................................................................	12
1.4	Financing .............................................................................................................................................	21
1.5	Other items ..........................................................................................................................................	25
1.6	Appendices ..........................................................................................................................................	26
2. FINANCIAL STATEMENTS .............................................................................................................................	27
2.1	Condensed intermim financial statements for the half year ended June 30,2021 ................................	28
2.1.1	Consolidated statement of financial statement position...............................................................	28
2.1.2	Consolidated income statement .................................................................................................	30
2.1.3	Consolidated statement of comprehensive income .....................................................................	31
2.1.4	Consolidated cash flow statement ..............................................................................................	32
2.1.5	Satetement of changes in equity .................................................................................................	34
2.1.6	Notes to the consolidated financial statements ...........................................................................	37
2.1.7	Statutory auditor's review report on the condensed intermim consolidated financial statement ..	73
3. DECLARATION BY THE PERSON RESPONSIBLE FOR THE HALF-YEARLY FINANCIAL REPORT ...........	74
3.1	Declaration by the person responsible for the half-yearly financial report ............................................	75

VEOLIA ENVIRONNEMENT - HALF YEARLY FINANCIAL REPORT 2021

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MESSAGE FROM ANTOINE FREROT

Antoine Frérot, Chairman and Chief Executive Officer of the Group, said:

"Veolia achieved record results in the first half of 2021. All our operational and financial indicators have registered outstanding growth, both compared to 2020 and to 2019. At the beginning of the year, I had announced that Veolia's performance in 2021 would be above 2019. With revenue up by +4.6%, EBITDA growth of +6.2% and current net income increasing by +49% compared to the 1st half of 2019, we are very much ahead of this objective and are starting the second semester at full speed, thanks to the adaptation measures put in place early on to overcome the effects of the sanitary crisis as quickly as possible. These absolutely remarkable results and the much better than expected level of activity notably thanks to our innovation capabilities, allow us to raise our 2021 objectives and to now target an EBITDA of more than €4.1 billion for the full year. I am therefore very confident for the second part of the year. I am also very proud of the Group's collective capacity to bounce back strongly, and I want to warmly thank all Veolia employees for their unfailing commitment. It is this collective strength that has enabled us over the past few years to raise Veolia's performance ever higher. Just as Veolia is about to acquire Suez, the Group has never been in better shape. On July 29th, a new step forward was taken with the opening of our tender offer for Suez shares. By the end of the year, the operation should be finalized and we will give birth to the undisputed world champion of ecological transformation."

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OPERATING AND FINANCIAL REVIEW

VEOLIA ENVIRONNEMENT - HALF YEARLY FINANCIAL REPORT 2021

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