The results of 2007 Veolia disappoint, the title fall
The results of 2007 Veolia disappoint, the title fall
Henri Proglio, Chairman and CEO of Veolia Environnement. The results of the 2007 group of environmental services have seen a sharp rise, benefiting from acquisitions in the cleanliness and the new contracts in the water but have nonetheless proved lower than market expectations. / Photo taken on March 7 2008/REUTERS/Jean-Paul Pélissier
Veolia Environnement publishes 2007 results in sharp increases - driven by acquisitions in the cleanliness and new contracts in the water - but below market expectations, which led to a fall in the title on the Exchange.
In a statement, the group of services to the environment was further stated target for the current year to grow "at least 10%" of its turnover, its cash and its outcome net despite "a difficult economic context".
Around 13:00, the title Veolia fall of 7.10% to 51.06 euros while the CAC lost 1.11%. At the same time, the European Index sector folds of 1.26%.
The group registered in 2007 a group net income of 927.9 million euros (+22.3%), an operating profit of 2.496,2 million (+17.1%), recurring operating income of 2,469 2 million (11.1%) and turnover (published February 5) from 32.628 million (+14%). The recurring net profit for its part has reached 933.2 million euros (+22.5%).
According to the Reuters Estimates consensus dated March 6, analysts on average were expecting a net profit of 968 million euros and an operating profit of 2,536 million recurring.
The group will propose for 2007 a dividend of 1.21 euros per share, an increase of 15.2%.
Oddo Securities, which remains at "buy" with a target of 72 euros, said in a note published results below expectations at the low growth in operating income from the energy division due to the mercy of the weather in 1st half 2007 and the costs of holding apparently higher than anticipated.
The broker stressed, however, that Veolia, as usual, remains cautious in its outlook for 2008. Citigroup also evokes forecasts "which have nothing impressive" and notes that the 2007 results of Veolia may lead to profit taking.
Henri Proglio, Chairman and CEO of Veolia Environnement. The results of the 2007 group of environmental services have seen a sharp rise, benefiting from acquisitions in the cleanliness and the new contracts in the water but have nonetheless proved lower than market expectations. / Photo taken on March 7 2008/REUTERS/Jean-Paul Pélissier
Veolia Environnement publishes 2007 results in sharp increases - driven by acquisitions in the cleanliness and new contracts in the water - but below market expectations, which led to a fall in the title on the Exchange.
In a statement, the group of services to the environment was further stated target for the current year to grow "at least 10%" of its turnover, its cash and its outcome net despite "a difficult economic context".
Around 13:00, the title Veolia fall of 7.10% to 51.06 euros while the CAC lost 1.11%. At the same time, the European Index sector folds of 1.26%.
The group registered in 2007 a group net income of 927.9 million euros (+22.3%), an operating profit of 2.496,2 million (+17.1%), recurring operating income of 2,469 2 million (11.1%) and turnover (published February 5) from 32.628 million (+14%). The recurring net profit for its part has reached 933.2 million euros (+22.5%).
According to the Reuters Estimates consensus dated March 6, analysts on average were expecting a net profit of 968 million euros and an operating profit of 2,536 million recurring.
The group will propose for 2007 a dividend of 1.21 euros per share, an increase of 15.2%.
Oddo Securities, which remains at "buy" with a target of 72 euros, said in a note published results below expectations at the low growth in operating income from the energy division due to the mercy of the weather in 1st half 2007 and the costs of holding apparently higher than anticipated.
The broker stressed, however, that Veolia, as usual, remains cautious in its outlook for 2008. Citigroup also evokes forecasts "which have nothing impressive" and notes that the 2007 results of Veolia may lead to profit taking.
posted by news of france at
1:13 PM
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