The group of waste, transport services and Veolia Environment announced in a statement Sunday that it was revising downwards the growth of its operational cash flow, to 0% against 6% in June.( Finance Information City )
"In total, the group expects operating cash flow in 2008 between 4.1 billion and 4.2 billion euros, an amount of the same magnitude as that recorded in 2007 which amounted to 4163 billion" , Said the press release.Veolia Environment announced its results during the first quarter, its cash flow for 2008 should reach 10%.
To explain this revision, Veolia stresses that "in the Water, the volumes sold in Europe during the summer have been below those of 2007. Moreover, in some countries, tariff changes were expected kilter" .
Veolia is "since early summer, a sharp slowdown in economic activity in the area of cleanliness. We must therefore remain vigilant in times of crisis, companies could make cuts doubly dark on cleanliness.
The effects of the economy (lower tonnages collected and processed) and lower prices of raw materials (paper, metals) are affected, particularly in France and Germany also stressed the group.
In addition, the release adds, "some elements this year also weigh on profitability: provisional arrest and shift some incineration plants in Italy, cost of implementation of the restructuring plan and administrative closure of a landfill in Germany ".
Veolia Environment has indicated parallel postponed Thursday evening that the capital increase reserved for employees of the group because of stock market volatility. In a notice published by the AMF, Veolia cited "a lack of visibility and lack of landmarks around the world."
"The process will be resumed as soon as a return to market stability has been found," added the group.
Despite a decline in its title since the beginning of the year, Veolia Environnement remains dynamic. On October, the group created a joint venture in the Middle East with Mubadala Development Company, specializes in commercial development and investment. He also purchased in the United States of a company specializing in wind energy, Ridgeline Energy, marking its entry into the U.S. market.
Last week the GIMD (Groupe Industriel Marcel Dassault), a holding company with industrial, announced that it had entered the capital of Veolia Environnement up to 2%. The conglomerate has acquired a block of 8.58 million shares for an amount of around 200 million euros. The transaction was completed on October 8 last.
This increase in the capital of Veolia Environnement is described as friendly and long term.
Following the announcement of this entry Dassault Group in its capital, as Veolia Environnement posted closing in on 13 October last year jumped 18.19% to 26, 32 euros.
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