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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Veolia Environnement    VIE   FR0000124141

VEOLIA ENVIRONNEMENT

(VIE)
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Veolia : North America Acquires Boston-Based Meter-Reading Company

11/17/2020 | 08:05am EST

Acquisition of Energenix makes Veolia North America’s SourceOne the leading meter services provider in Greater Boston

Representing a growth strategy focused on clean energy, Veolia North America, through its energy subsidiary, SourceOne Inc., has acquired Energenix, a Boston-based utility meter reading and billing service that provides services throughout Eastern Massachusetts.

The acquisition makes Veolia North America the leading provider of meter reading and billing services in the Northeast, with a portfolio of over 700 buildings and 200 customers. The offering represents a key component of the company’s growth strategy to provide advanced energy management technologies and programs to building owners, facilities managers and energy consumers throughout the region.

Energenix was created in 1994 by Guy Machnes, a former electrician who identified the need for efficient meter-reading services and steadily expanded the business over the past 26 years. Machnes recognized that in SourceOne he had found an experienced partner with the capabilities to offer technological advances and added services that will enhance the Energenix customer’s experience. SourceOne’s expertise in engineering services, design, implementation and maintenance of metering systems for a variety of utilities adds intrinsic value to the offering.

“We are excited to welcome Energenix into the SourceOne family,” said Matt Madeksza, Veolia North America President and CEO. “With this acquisition, we are strengthening our position as a trusted provider of energy services where innovation and vision lead to greater efficiency and sustainability.”

About Veolia North America

A subsidiary of Veolia group, Veolia North America (VNA) offers a full spectrum of water, waste and energy management services, including water and wastewater treatment, commercial and hazardous waste collection and disposal, heating and cooling networks, energy consulting and resource recovery. VNA helps commercial, industrial, healthcare, higher education and municipality customers throughout North America. Headquartered in Boston, Mass., Veolia North America has more than 7,000 employees working at more than 150 locations across the continent. www.veolianorthamerica.com

About Veolia

Veolia group is the global leader in optimized resource management. With nearly 179,000 employees worldwide, the Group designs and provides water, waste and energy management solutions which contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them. In 2019, the Veolia group supplied 98 million people with drinking water and 67 million people with wastewater service, produced nearly 45 million megawatt hours of energy and treated 50 million metric tons of waste. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €27.189 billion in 2019 (USD 29.9 billion). www.veolia.com


© Business Wire 2020
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Financials
Sales 2020 25 947 M 31 298 M 31 298 M
Net income 2020 365 M 441 M 441 M
Net Debt 2020 11 191 M 13 499 M 13 499 M
P/E ratio 2020 29,8x
Yield 2020 3,08%
Capitalization 13 086 M 15 822 M 15 785 M
EV / Sales 2020 0,94x
EV / Sales 2021 0,89x
Nbr of Employees 171 212
Free-Float 95,5%
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 23,94 €
Last Close Price 23,13 €
Spread / Highest target 33,6%
Spread / Average Target 3,48%
Spread / Lowest Target -20,0%
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Managers and Directors
NameTitle
Antoine Frérot Chairman & Chief Executive Officer
Estelle Karine Brachlianoff Chief Operating Officer
Claude Olivier Francois Laruelle Chief Financial Officer
Christophe Nebon Director-Technical & Performance
Didier Bove CIO, Senior VP-Information Systems & Technology