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-- Revenue of EUR20 196 M, up 46.2 % at fixed change charges vs. H1 2021 reported on account of a scope impact of EUR4 350 M primarily coming from the combination of Suez (EUR4 416 M) and from an natural development of EUR1 961M (+14.4 %). -- Compared to 30 June 2021 mixed, income development at fixed scope and change charges was +12,9 %. -- Revenue evolution by impact was as follows :
El efecto de tipo de cambio fue de +408 MEUR reflejando principalmente la evolución del dólar estadounidense, la libra esterlina y el renminbi chino, parcialmente compensado por una disminución del zloty polaco y las monedas latinoamericanas(1).
Scope impact of -EUR286M included primarily the asset divestitures in Scandinavia in 2021 (-EUR154 M) and, on the Suez aspect, the asset divestitures in Australia in 2021 and the treatments within the EU (hazardous waste enterprise in France accounted as property on the market). These unfavourable objects had been partially offset by the combination of Osis by Sarp (+EUR96 M) in 2021.
-- The Commerce / Volumes / Works impact reached +EUR542 M, because of good volumes in all companies, notably in Energy and powerful Water applied sciences and development actions. -- The climate affect was -EUR96 M primarily in Energy in Central and Eastern Europe on account of a gentle winter, and in Chile on account of a cool summer time which impacted Q1 volumes. -- The power value affect was +EUR1 107 M, because of the improve in warmth and electrical energy costs in Central and Eastern Europe. -- The recycled supplies value affect reached +EUR242 M, and got here from the rise of recycled paper and cardboard costs in France, Germany and the UK. -- Service costs continued to be nicely oriented, resulting in a good affect of +EUR505 M, due principally to tariff revisions in Waste (+3.2%) and in Water (+3.1%) -- Revenue in H1 2022 progressed throughout all segments in contrast with mixed figures for the half yr ended June 30, 2021 -- Revenue for the France and Special Waste Europe section totaled EUR4,754 million, with natural development of +3.9% in contrast with June 30, 2021 mixed figures: -- France Water income slipped barely by -0.8%, primarily on account of asset transfers inside the Group, partially offset by the optimistic affect of tariff opinions (+3.4% in H1 2022) and good exercise ranges within the second quarter, with billed volumes up +0.3% on the finish of June. -- France Waste income elevated +6%, persevering with to profit from excessive recyclate costs, significantly for paper (recycled paper value of EUR183/t in June 2022 vs. EUR152/t in June 2021), and the optimistic affect of tariff opinions, regardless of a slight decline in volumes year-on-year. -- Hazardous waste actions in Europe grew +7.4%, with robust industrial growth in sanitation and industrial upkeep actions, increased volumes and costs in oil and lubricant therapy actions in a context of elevated oil costs and the optimistic affect of tariff opinions. -- SADE reported development of +2.5%, because of robust industrial momentum in France. -- Revenue for the Europe excluding France section totaled EUR8,505 million for the half yr ended June 30, 2022, with natural development of +23.7% primarily on account of increased power and recyclate costs. -- In Central and Eastern Europe, income rose +31.4% to EUR4,301 million. Following on from the primary quarter, exercise remained strong on this area pushed by: -- higher optimistic tariff indexation in power (Poland, Hungary, Czech Republic, Slovakia and Romania) and water (Czech Republic and Romania) and better volumes distributed (Poland and Czech Republic), regardless of a much less favorable climate impact in Energy in contrast with H1 2022 (-EUR96 million). -- a surge in recyclate costs, significantly for paper and plastic and power costs in Germany. -- In Northern Europe, income rose 12.3% to EUR2,511 million. This improve was primarily pushed by the United Kingdom and Ireland, which reported income development of +12.4% at fixed scope and change charges, with the favorable affect of recyclate costs (paper and plastic), increased power volumes and costs and the nice efficiency of incinerators (facility out there fee of 94.8% in 2022 in contrast with 93.1% in 2021), regardless of a slight downturn in waste landfill volumes on account of unfavorable climate circumstances in H1 2022. In Belgium, natural development was +16.2% in contrast with June 30, 2021 mixed figures, fueled by good working performances, benefiting from the optimistic affect of recyclate costs and contractual tariff opinions in waste recycling and incineration actions. -- In Italy, natural income development reached +49.1%, following the start-up of contracts received in 2021 and the extremely favorable impact of power costs. -- In Iberia, income elevated +14.8%, pushed primarily by robust water actions in Spain (Agbar) which loved elevated volumes (+2.2% at end-June 2022) because of the return of tourism and excessive Spring temperatures, in addition to by power actions. -- In the Rest of the world, income totaled EUR5,256 million, representing natural development of +7.8% throughout all geographies, together with Asia regardless of the slowdown in China: -- Revenue elevated +13.8% in Latin America, pushed notably by favorable tariff indexation in Chile in water actions, regardless of a drop in volumes linked to the drought. Colombia, Brazil and Ecuador reported good exercise ranges in waste and steady water actions within the half-year. -- In Africa/Middle East, income elevated +9.0%, primarily pushed by development in water contracts in Morocco, because of increased volumes and the optimistic affect of tariff opinions within the first half of the yr. -- In North America, income rose +9.6% to EUR1,538 million. This development was primarily pushed by strong hazardous waste actions, with increased volumes processed and the affect of elevated tariffs (+10%), and in water, by favorable tariff indexation, significantly in Regulated Water actions, and good development volumes. -- Revenue elevated +3.3% in Asia. The slowdown in development in China negatively impacted actions within the second quarter, with decrease hazardous waste volumes and diminished exercise in power and industrial providers. This slowdown was offset by robust development in different international locations and significantly Taiwan, Hong Kong and Japan. -- In the Pacific, income rose +5.7%, marked by increased waste assortment and landfill volumes regardless of extreme climate occasions within the half-year (flooding within the Queensland and New South Wales areas), robust industrial upkeep actions and good municipal water efficiency. -- The Water Technologies exercise reported a rise of +5.3%, pushed by development in VWT's Services and Technology actions. The main tasks exercise reported a slight decline, nonetheless, on account of a excessive comparability base in 2021 which benefited from three main desalination tasks within the Middle East. VWT bookings totaled EUR687 million as of June 30, 2022, in contrast with EUR723 million one yr earlier. -- Compared with mixed figures for the half yr ended June 30, 2021, income by enterprise rose +12.9% at fixed scope and change charges. The important adjustments by enterprise in contrast with mixed figures for the half yr ended June 30, 2021 break down as follows.
-- Water income -- Water Operations income elevated +6.4%, with good volumes in Spain following the return of tourism, the affect of O&M contract wins in North America, accompanied by increased tariffs and an upturn in volumes distributed in France in Q2 2022. Slightly decrease volumes because of the climate, significantly in Chile, had been largely offset by the optimistic impact of contract tariff opinions in these geographies. -- Technology and Construction income grew +4.7%, primarily pushed by elevated development exercise in France, development in VWT's Services and Technology actions, and WTS development (+10.3%). -- Waste income -- Waste income elevated +9.9%, benefiting from the continued excessive degree of recyclate costs (+3.4%) for paper, plastic and metals In Europe. The upward pattern in oil costs and good exercise ranges had a good affect on hazardous waste actions in Europe and North America. Electricity revenues generated by incineration actions elevated and favorable tariff opinions (+3.2%) had been recorded throughout all geographies. The commerce / quantity impact can also be optimistic at +1.3%. -- Energy income -- Energy income rose +35.9%. The robust exercise development is based on a optimistic value impact (+29.4%), notably in Europe, increased volumes distributed, tariff will increase in Central and Eastern Europe and powerful industrial growth, significantly in Italy and the Middle East. The climate impact in H1 2022 was -2.5%. -- EBITDA reached EUR2 953 M vs. EUR2 792 M in H1 2022 mixed and EUR2 081 M in H1 2021 reported -- EBITDA grew by +40.4 % vs. 30 June 2021 reported at fixed foreign exchange. The scope impact coming from the consolidation of Suez was EUR732M. -- Compared to 30 June 2021 mixed, EBITDA elevated by +6.1 % at fixed scope and foreign exchange. -- EBITDA evolution by impact vs. 30 June 2021 mixed was as follows : -- Exchange fee impact was +EUR52 M, reflecting primarily the evolution of UK, US and Chinese currencies. -- The scope impact was -EUR61 M together with primarily the affect of the combination of Osis by Sarp offset by the asset divestitures in Scandinavia in 2021 and, on Suez aspect, by the asset divestitures in Australia and the treatments within the EU (hazardous waste enterprise in France accounted for as property on the market). -- The Commerce / Volumes / Works impact reached +EUR39 M after +EUR22M in Q1, because of strong exercise development -- The climate affect was -EUR39 M, after -EUR27M in Q1, primarily in Energy in Central and Eastern Europe on account of a gentle winter. -- The recycled supplies value affect reached +EUR70 M, and got here primarily from the rise of recycled paper and cardboard costs in France, the UK and Germany. The improve in warmth and electrical energy costs was offset by increased gas prices (of which fuel oil and CO2). -- Impact of contract renegotiations and value inflation on EBITDA was -EUR97 M. -- Efficiency good points and synergies contributed for +EUR178M in effectivity good points and +EUR52M in synergies, a complete of +EUR230 M, in keeping with the annual goal. -- Current EBIT at June 30 2022 reached EUR1 475 M, up +20.2 % at fixed scope and foreign exchange in comparison with H1 2021 mixed. Current EBIT development in comparison with 30 June mixed was +EUR256 M at fixed scope and foreign exchange, because of: -- Strong EBITDA development (+EUR171 M at fixed scope and change charges). -- D&A and provisions together with the affect of Operating Financial Assets reimbursement was down by -EUR34M vs. H1 2021 mixed to EUR1 454M. -- A positive affect coming from Industrial capital good points internet of asset impairments of +EUR22M, from EUR42M in H1 2021 to EUR64M , due principally to an asset disposal in Australia. Exchange fee impact on Current EBIT was +EUR17 M. -- Current internet revenue Group share reached EUR528 M in H1 2022. -- Cost of internet monetary debt reached -EUR320 M, together with a rise of EUR105M because of the consolidation of Suez internet monetary debt. The Group's financing fee was again to 2019 and 2020 ranges after a 2021 exceptionally low degree. -- Other monetary revenue and bills (together with internet monetary capital good points) capital amounted to -EUR207M vs. +EUR53M in H1 2021 reported, which included +EUR122M of dividends acquired from our 29.9% stake in Suez. . -- Current tax cost was EUR256M, up by EUR68M because of the improve of revenue earlier than tax. Current tax fee was 28.9 % vs. 25 % in H1 2021 reported. -- Non-controlling pursuits reached EUR164M vs. EUR98M in H1 2021 reported. -- Net revenue Group share reached EUR236M. -- Main non present objects included Suez acquisition and integration prices for -EUR154M, asset impairment in Russia for -EUR80M, and restructuring expenses for EUR32M. -- Net Financial Debt was EUR22 353 M at 30 June 2022, vs. EUR9 532 M at 31 December 2021. The important elements of the change in internet monetary indebtedness are as follows : -- Seasonal variation of internet free cash-flow for -EUR304 M on account of seasonal variation of Working Capital Requirement (WCR) . -- The affect of Suez acquisition for -EUR10 501 M together with the incoming debt from Suez at 18 January 2022 for -EUR9 073 M and the tender provide for -EUR9 318 M minus the divestiture of some property of Suez Group to the Consortium on 31 January 2022 for +EUR8 018 M -- Net monetary investments excluding Suez acquisition for -EUR145M (together with acquisition prices and incoming debt) -- Suez hybrid debt reimbursement for -EUR500 M -- The affect of dividend funds to shareholders, voted on the AGM of 15 June 2022 for -EUR688M. -- An unfavorable change fee impact -EUR464 M at 30 June 2022.
**********
-- Guidance 2022 absolutely confirmed* -- Solid natural income development -- Efficiency good points above EUR350M complemented by EUR100M of synergies coming from the first yr of integration of Suez -- Organic development of EBITDA between +4% and +6% -- Current internet revenue group share round EUR1.1bn**, a development of greater than 20%, confirming the incomes per share accretion of round 10%*** -- Confirmed 2024 EPS accretion of 40%*** -- Leverage ratio round 3x -- Dividend development in keeping with present EPS development
* A tipo de cambio constante y sin extensión del conflicto más allá del territorio ucraniano y sin cambios significativos en las condiciones de suministro de energía en Europa
** Antes de PPA
*** Utilidad neta precise por acción después de costos híbridos y antes de PPA
About Veolia
Veolia Group goals to grow to be the benchmark firm for ecological transformation. Present on 5 continents with practically 220,000 staff, the Group designs and deploys helpful, sensible options for the administration of water, waste and power which are contributing to a radical turnaround of the present scenario. Through its three complementary actions, Veolia helps to develop entry to assets, to protect out there assets and to resume them. In 2021, the Veolia group offered 79 million inhabitants with ingesting water and 61 million with sanitation, produced practically 48 million megawatt hours and recovered 48 million tonnes of waste. Veolia Environnement (Paris Euronext: VIE) achieved consolidated income of 28,508 billion euros in 2021. www.veolia.com
Important disclaimer
As the adjustments within the well being disaster are troublesome to estimate, we draw your consideration to the «forward-looking statements» that will seem on this press launch and regarding the implications of this disaster which can have an effect on the long run efficiency of the Company.
Veolia Environnement is a company listed on the Euronext Paris. This press launch incorporates «forward-looking statements» inside the that means of the provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are usually not ensures of future efficiency. Actual outcomes could differ materially from the forward-looking statements because of various dangers and uncertainties, lots of that are outdoors our management, together with however not restricted to: the chance of struggling diminished income or losses because of intense competitors, the chance that adjustments in power costs and taxes could scale back Veolia Environnement’s income, the chance that governmental authorities may terminate or modify a few of Veolia Environnement’s contracts, the chance that acquisitions could not present the advantages that Veolia Environnement hopes to attain, the dangers associated to customary provisions of divesture transactions, the chance that Veolia Environnement’s compliance with environmental legal guidelines could grow to be extra expensive sooner or later, the chance that forex change fee fluctuations could negatively have an effect on Veolia Environnement’s monetary outcomes and the value of its shares, the chance that Veolia Environnement could incur environmental legal responsibility in reference to its previous, current and future operations, in addition to the opposite dangers described within the paperwork Veolia Environnement has filed with the Autorité des Marchés Financiers (French securities regulator). Veolia Environnement doesn’t undertake, nor does it have, any obligation to offer updates or to revise any ahead wanting statements. Investors and safety holders could receive from Veolia Environnement a free copy of paperwork it filed (www.veolia.com) with the Autorités des Marchés Financiers.
This doc incorporates «non–GAAP monetary measures». These «non–GAAP monetary measures» may be outlined otherwise from related monetary measures made public by different teams and mustn’t substitute GAAP monetary measures ready pursuant to IFRS requirements.
FINANCIAL INFORMATION FOR THE PERIOD ENDED JUNE, 30 2022
A] Key Figures
Group key figures as of June 30, 2022 embody the contribution of actions acquired from Suez from January 18, 2022. To allow the comparability of monetary data, key figures as of June 30, 2021 had been restated to current mixed information together with the Suez acquired scope (see appendix).
Change 2022 / 2021 Change 2022 / 2021 revealed mixed at at fixed fixed at scope at scope June 30, June 30, fixed and fixed and 2021 2021 June 30, change change change change (EUR million) revealed mixed 2022 charges charges charges charges Revenue 13,645 17,774 20,196 48.0% 46.2% 14.4% 13.6% 11.3% 12.9% EBITDA(1) 2,081 2,792 2,953 41.9% 40.4% 5.6% 5.8% 3.9% 6.1% Current EBIT(2) 901 1,267 1,475 63.8% 63.0% 20.4% 16.4% 15.1% 20.2% Current internet revenue - Group Share(3) 516 528 2.3% 1.6% Current internet revenue - Group Share excluding capital good points and losses on monetary divestitures internet of tax 520 538 3.5% 2.8% Net revenue - Group share (4) 301 236 Net industrial investments (834) (1,310) Net free money circulation (1) 270 (304) Opening internet monetary debt (13,217) (9,532) Closing internet monetary debt (13,767) (22,353) (1) The indicators are outlined in appendix (2) Including the share of present internet revenue of joint ventures and associates seen as core Company actions. (3) 2021 Current internet revenue - Group share, re-presented for Suez dividends (EUR122 million) is EUR394 million, representing a rise in Current internet revenue - Group Share for the primary half of 2022 in contrast with June 2021 of 33.1% at fixed change charges. (4) 2021 Net revenue - Group share re-presented for Suez dividends (EUR122 million) is EUR179 million.
Los principales impactos cambiarios entre el 30 de junio de 2021 y el 30 de junio de 2022 son los siguientes:
FX impacts for the half yr ended June 30, 2022 (vs. June 30, 2021 mixed) % (EUR million) Revenue 2.3% 408 EBITDA 1.8% 52 Current EBIT 1.3% 17 FX impacts for the half yr ended June 30, 2022 (vs. June 30, 2021 revealed) % (EUR million) Revenue 1.8% 240 EBITDA 1.5% 30 Current EBIT 0.8% 7 Current internet revenue 0.8% 4 Net monetary debt (vs. December 31, 2021) -4.9% (464)
B]Estado de resultados
1. GROUP CONSOLIDATED REVENUE
Consolidated income totaled EUR20,196 million for the half yr ended June 30, 2022, in contrast with EUR17,774 million for the half yr ended June 30, 2021 mixed and EUR13,645 million for the half yr ended June 30, 2021 (revealed).
All working segments reported development in H1 2022.
Change 2022 / 2021 Change 2022 / 2021 re-presented for IFRS 8 re-presented for IFRS 8 and mixed Half yr ended June Half Half yr 30, 2021 yr at at ended June re-presented ended at fixed at fixed 30, 2021 for IFRS 8 June fixed scope and fixed scope and re-presented and 30, change change change change (EUR million) for IFRS 8 mixed 2022 charges charges charges charges France and Special Waste Europe 4,316 4,577 4,754 10.2% 10.1% 3.9% 3.9% 3.8% 3.9% Europe excluding France 5,278 6,958 8,505 61.1% 60.4% 28.1% 22.2% 21.4% 23.7% Rest of the world 3,310 4,767 5,256 58.8% 53.5% 9.9% 10.3% 5.3% 7.8% Water applied sciences 739 1,869 2,075 180.8% 177.8% -2.3% 11.0% 5.1% 5.3% Other(2) 2 (398) (394) - - - - - Group 13,645 17,774 20,196 48.0% 46.2% 14.4% 13.6% 11.3% 12.9%
En comparación con el primer semestre de 2021 combinado, las tendencias de ingresos trimestrales a tipos de cambio constantes por segmento operativo para el primer semestre de 2022 son las siguientes:
at fixed scope and change charges vs. 2021 re-presented for IFRS8 and mixed Q1 2022 Q2 2022 H1 2022 France and Special Waste Europe 5.4% 2.6% 3.9% Europe excluding France 26.8% 20.3% 23.7% Rest of the world 7.8% 7.8% 7.8% Water applied sciences 2.6% 7.7% 5.3% Group 14.7% 11.3% 12.9%
El aumento en los ingresos del segundo trimestre de 2022 es consistente con las tendencias observadas en el primer trimestre:
-- continued excessive recyclate costs in waste and good exercise ranges in hazardous waste, besides in China, negatively impacted by the well being disaster, -- good water efficiency, capitalizing on contractual tariff opinions and better second quarter volumes, significantly in France, the decline within the works exercise within the second quarter is defined by the bottom, the second quarter of 2021 benefiting from a catchup impact. -- robust development in Energy actions primarily on account of increased costs and volumes regardless of an unfavorable climate impact and seasonality.
En comparación con las cifras publicadas para el semestre finalizado el 30 de junio de 2021, los ingresos del segmento aumentaron un +46,2 % a tipos de cambio constantes, debido a un efecto de alcance de 4.350 millones de euros, ligado principalmente a la integración de las actividades de Suez (4.416 millones de euros) y un crecimiento orgánico de 1.961 millones de euros (+14,4%).
The scope impact of the combination of Suez actions impacts all working segments:
-- The France and Special Waste Europe section consists of the scope impact of IWS hazardous waste actions acquired from Suez, -- The Europe excluding France section primarily consists of the scope impact of Suez waste actions in Northern Europe and Germany and Suez water actions in Spain, -- The Rest of the world section consists of the scope impact of actions acquired from Suez in North America and Latin America, in addition to Suez waste actions in Asia and Australia, -- The Water Technologies section consists of the scope impact of the acquisition of Suez Water Solutions and Technologies actions, -- The "Other" section consists of the income adjustment for the primary seventeen days of the yr for the Suez scope previous to acquisition of management.
El crecimiento orgánico del +14,4% está impulsado principalmente por Europa sin Francia (+28,1%), el Resto del mundo (+9,9%) y Francia y Europa de Residuos Especiales (+3,9%). El segmento de Tecnologías del agua registró una ligera caída del -2,3 % en los ingresos sobre las cifras publicadas para el semestre finalizado el 30 de junio de 2021 con alcance y tipos de cambio constantes, debido a una alta base de comparación de 2021 en los principales proyectos de desalinización de Oriente Medio donde la construcción ya está completa. o casi completo. Europa, excepto Francia, disfrutó de un fuerte crecimiento en las actividades energéticas en Europa Central y del Este y un crecimiento en las actividades de residuos en el norte de Europa, respaldado por precios más altos de reciclado.
En comparación con las cifras combinadas del semestre finalizado el 30 de junio de 2021, los ingresos aumentaron un +12,9 % con alcance y tipos de cambio constantes, aumentando en todos los segmentos operativos.
See evaluation firstly of this press launch, web page 2
Revenue by Business
Compared with revealed figures for the half yr ended June 30, 2021, income by enterprise rose +46.2% at fixed change charges.
The scope impact of the combination of Suez actions (EUR4,416 million in whole) is EUR2,998 million in Water and EUR1,818 million in Waste. It is recalled that the income adjustment for the primary seventeen days of the yr for the Suez scope, previous to acquisition of management, is recorded within the «Other» section (-EUR400 million).
Excluding scope results, natural development in contrast with revealed figures for the half yr ended June 30, 2021 is +14.4%, primarily pushed by:
-- robust development in Energy of +40.5%, underpinned by increased power costs (electrical energy and warmth) and the favorable affect of tariff opinions, -- Waste development of +12.2%, on account of increased recyclate costs, favorable tariff opinions and good exercise ranges throughout all geographies, -- Water actions up +4.8%, because of contract tariff indexation, increased volumes distributed in Q2 2022 regardless of a slight drop in Technology and Construction actions on account of a 2021 base with giant desalination tasks within the Middle-East. Change 2022 / 2021 Change 2022 / 2021 revealed mixed at at fixed at fixed at scope June 30, June 30, June fixed scope and fixed and 2021 2021 30, change change change change (EUR million) revealed mixed 2022 charges charges charges charges Water 5,215 7,873 8,556 64.1% 61.4% 4.8% 8.7% 5.8% 5.9% of which Water Operations 3,974 5,502 5,967 50.2% 48.1% 6.4% 8.5% 6.3% 6.4% of which Technology and Construction 1,240 2,371 2,589 108.8% 106.9% -0.4% 9.2% 4.6% 4.7% Waste 5,304 7,175 7,845 47.9% 45.4% 12.2% 9.3% 6.9% 9.9% Energy 3,126 3,127 4,194 34.2% 33.9% 40.5% 34.1% 33.9% 35.9% Other - (400) (400) - - - - Group 13,645 17,774 20,196 48.0% 46.2% 14.4% 13.6% 11.3% 12.9%
En comparación con las cifras combinadas del semestre finalizado el 30 de junio de 2021, los ingresos por negocio aumentaron un +12,9 % con alcance y tipos de cambio constantes. Ver análisis al inicio de esta nota de prensa, página 2
2. GROUP EBITDA
Group consolidated EBITDA for the half yr ended June 30, 2022 was EUR2,953 million, in contrast with EUR2,792 million for the half yr ended June 30, 2021 mixed and EUR2,081 million for the half yr ended June 30, 2021 (revealed).
EBITDA is up +40.4% in contrast with revealed figures for the half yr ended June 30, 2021 at fixed change charges, on account of a scope impact of +EUR725 million primarily because of the integration of actions acquired from Suez and natural development of +5.6%.
Compared with June 30, 2021 mixed figures, EBITDA rose +6.1% at fixed scope and change.
Change 2022 / 2021 Change 2022 / 2021 re-presented for IFRS 8 and re-presented for IFRS 8 mixed June 30, 2021 at at June 30, re-presented at fixed at fixed 2021 for IFRS 8 June fixed scope and fixed scope and re-presented and 30, change change change change (EUR million) for IFRS 8 mixed 2022 charges charges charges charges France and Special Waste Europe 630 673 704 11.8% 12.0% 7.9% 4.6% 4.7% 6.8% Europe excluding France 942 1,120 1217 29.3% 28% 6.4% 8.7% 7.4% 8.5% Rest of the world 440 821 786 78.8% 75% 1.7% -4.2% -6.8% -2.4% Water applied sciences 43 213 212 368.5% 379.6% 10.6% -0.4% -8.1% -8.2% Other(3) 26 (35) 33 Group 2,081 2,792 2,953 41.9% 40.4% 5.6% 5.8% 3.9% 6.1%
El crecimiento del EBITDA de los segmentos operativos Francia y Residuos especiales Europa (+6,8% a perímetro y tipos de cambio constantes) y Europa sin Francia (+8,5% a perímetro y tipos de cambio constantes) se debe al crecimiento de la actividad. La caída del EBITDA del segmento resto del mundo viene de China donde los volúmenes de residuos son menores así como de los servicios a la industria y energía por las restricciones relacionadas con la disaster sanitaria. En el segmento de Tecnologías del agua, el EBITDA está en progresión para VWT pero en declive para WTS, que se benefició de elementos únicos en la primera mitad de 2021.
The improve in EBITDA between 2021 and 2022 breaks down by affect as follows:
The overseas change affect on EBITDA was +EUR52 million and primarily displays the appreciation of the American, Czech, British and Chinese currencies, partially offset by unfavorable actions in South American and Middle East currencies(4) .
The consolidation scope affect of -EURSHY61 million principally considerations the sale of property in Scandinavia in 2021 and, at Suez degree, gross sales of actions in Australia and the affect of European Union treatments with the switch of some hazardous waste actions in France to Assets labeled as held on the market. These unfavourable results are partially offset by the combination of Osis by Sarp in 2021.
Favorable commerce and quantity impacts of +EUR39 million resulted from the optimistic affect on income.
The climate affect is -EUR39 million and primarily considerations Central and Eastern Europe which was affected by a milder than regular winter and to a lesser extent Chile.
Recyclate and power costs had a internet favorable affect on EBITDA of +EUR70 million, primarily regarding paper and cardboard in France and Northern Europe. The improve in power promoting costs internet of upper buy prices (together with CO(2) and diesel), had a impartial affect on EBITDA.
The affect of tariff opinions internet of price inflation was -EUR97 million.
Other impacts are primarily on account of one-off objects positively impacting 2021 EBITDA of the Suez scope.
The contribution of price financial savings plans and synergies totaled +EUR230 million on the finish of June and consists of:
-- the effectivity plan for EUR178 million, primarily regarding working effectivity (64%) and buying (27%) throughout all geographic zones: France and Special Waste Europe (31%), Europe excluding France (27%) and the Rest of the world (34%), -- synergies of EUR52 million generated on the combination of Suez. -- Gains generated by the effectivity plan within the first half of the yr are in keeping with the EUR350 million annual goal for end-2022. This can also be true for synergies, the place the annual goal has been attained 52% on the finish of June 2022.
3. EBIT ACTUAL
Group consolidated Current EBIT for the half yr ended June 30, 2022 was EUR1,475 million, up +20.2% at fixed scope and change charges on mixed figures for the half yr ended June 30, 2021.
EBITDA reconciles with Current EBIT in contrast with the half yr ended June 30, 2021 as follows:
June 30, 2021 June 30, 2021 (EUR million) revealed mixed June 30, 2022 EBITDA 2,081 2,792 2,953 Renewal bills (143) (140) (147) Depreciation, amortization, provisions and different(5) (1,121) (1,488) (1,454) Impairment and good points (losses) on industrial divestitures 36 42 64 Share of present internet revenue of joint ventures and associates 48 61 59 Current EBIT 901 1,267 1,475
El aumento de +EUR 256 millones (+20,2%) en el EBIT precise a perímetro y tipos de cambio constantes en comparación con las cifras combinadas para el semestre finalizado el 30 de junio de 2021(6) se debe principalmente a:
-- a marked enchancment in EBITDA (+EUR171 million at fixed scope and change charges), -- a slight lower in depreciation, amortization and provisions, internet of the change in principal funds on working monetary property, in contrast with H1 2021, the rise in amortization was compensated by the reversal of provisions. -- a good distinction in impairment and good points (losses) on divestitures, notably tied to an asset sale in Australia in Q1 2022 (waste property of the subsidiary, Integrated Waste Services).
El impacto del tipo de cambio en el EBIT corriente de +17 millones de euros refleja principalmente las fluctuaciones en las monedas de Estados Unidos (+15 millones de euros), República Checa (+7 millones de euros), Reino Unido (+6 millones de euros) y China (+1 millón de euros), compensado parcialmente por una caída en las monedas de Chile (-5 millones de euros) y Oriente Medio (-4 millones de euros).
4. GASTO FINANCIERO NETO
The internet monetary expense for the half yr ended June 30, 2022 is -EUR551.3 million, in contrast with – EUR121.2 million for the half yr ended June 30, 2021 (revealed). This lower is principally because of the scope impact on monetary bills of the combination of the price of Suez debt, in addition to the optimistic affect, in H1 2021, of dividends acquired of EUR122 million on the Group’s funding in Suez.
Cost of internet monetary debt
The price of internet monetary debt totaled -EUR319.6 million for the half yr ended June 30, 2022, in contrast with -EUR152.4 million for the half yr ended June 30, 2021 (revealed). The improve in the price of Group internet monetary debt is principally because of the scope impact of the combination of the price of Suez debt for EUR104.5 million (significantly the bond debt of the previous holding firm, Suez SA, and that of water actions within the United States), increased rates of interest on overseas currency-denominated debt (euro/forex fee spreads) and the optimistic affect in H1 2021 of the cancellation of an rate of interest hedging portfolio (pre-hedge swaps) for EUR20 million.
The Group’s financing fee (excluding IFRS 16 impacts) was due to this fact 3.65% at June 30, 2022 (in contrast with 2.51% at June 30, 2021, revealed), a decrease than the pre-COVID interval (4.36% at June 30, 2020 and 4.3% at June 30, 2019). Interest charges had been very low in 2021.
Other present monetary revenue and bills
Other monetary revenue and bills totaled -EUR207 million for the half yr ended June 30, 2022, in contrast with +EUR53 million for the half yr ended June 30, 2021 (revealed).
At June 30, 2021, different monetary revenue consists of dividends acquired on the Group’s funding in Suez of EUR122 million.
At June 30, 2022, different monetary revenue and bills embody the scope impact of the combination of Suez monetary bills of -EUR104.2 million which incorporates notably the monetary bills of the debt of the subsidiary Aguas Andidas in Chile (listed on inflation). The different monetary revenue and bills additionally embody as a non present merchandise the monetary prices generated by the Suez mixture for -EUR24.4 million.
At June 30, 2022 it consists of curiosity on concession liabilities (IFRIC 12) of -EUR38.8 million and the unwinding of reductions on provisions of -EUR16.2 million.
Losses on monetary divestitures acknowledged in H1 2022 totaled -EUR7.6 million and primarily embody the impacts of the liquidation of a number of corporations.
Gains on present monetary divestitures acknowledged within the first half of 2021 totaled -EUR4.6 million and primarily comprised the achieve on disposal of Utilities Services actions in Nordic international locations (+EUR13 million), offset by the loss on the divestiture of Aqua Utilities actions in Veolia Water Technology (-EUR7 million) and disposal prices in North America (-EUR3 million).
5. CURRENT TAX EXPENSE
The present revenue tax expense for the half yr ended June 30, 2022 amounted to -EUR256.4 million, in contrast with -EUR188.4 million for the half yr ended June 30, 2021 (revealed).
The present revenue tax fee for the half yr ended June 30, 2022 is 28.9%, after integration of the actions of Suez versus 25% for the half yr ended June 30, 2021 (revealed).
6. CURRENT NET INCOME
Current internet revenue attributable to house owners of the Company was EUR528 million for the half yr ended June 30, 2022, in contrast with EUR516 million for the yr ended June 30, 2021 (revealed) and EUR394 million excluding dividends acquired from Suez in 2021 for 2020. Excluding capital good points and losses on monetary divestitures internet of tax and minority pursuits, present internet revenue attributable to house owners of the Company is EUR538 million, in contrast with EUR520 million for the half yr ended June 30, 2021 (revealed).
7. NET INCOME
Net revenue attributable to house owners of the Company was +EUR236 million for the half yr ended June 30, 2022, in contrast with +EUR301 million for the yr ended June 30, 2021 (revealed) and EUR179 million excluding dividends acquired from Suez in 2021.
Net revenue attributable to house owners of the Company per share was EUR0.34 (fundamental) and EUR0.33 (diluted) for the half yr ended June 30, 2022, in contrast with EUR0.53 (fundamental) and EUR0.51 (diluted) for the half yr ended June 30, 2021.
8. CURRENT NET INCOME (LOSS) / NET INCOME (LOSS) ATTRIBUTABLE TO OWNERS OF THE COMPANY
The share of internet revenue attributable to non-controlling pursuits totaled EUR161.2 million for the half yr ended June 30, 2022, in contrast with EUR95.4 million for the half yr ended June 30, 2021.
Net revenue attributable to house owners of the Company was EUR236 million for the half yr ended June 30, 2022, in contrast with EUR301 million for the half yr ended June 30, 2021.
Current internet revenue attributable to house owners of the Company was EUR528 million for the half yr ended June 30, 2022, in contrast with EUR516 million for the half yr ended June 30, 2021.
Net revenue attributable to house owners of the Company per share for the half yr ended June 30, 2022 was EUR0.34 (fundamental) and EUR0.33 (diluted) in contrast with EUR0.53 (fundamental) and EUR0.51 (diluted) (and EUR0.31 (fundamental) and EUR0.30 (diluted) excluding dividends acquired from Suez of EUR122 million), for the half yr ended June 30, 2021. Current internet revenue attributable to house owners of the Company per share was EUR0.77 (fundamental) and EUR0.74 (diluted) for the half yr ended June 30, 2022, in contrast with EUR0.91 (fundamental) and EUR0.87 (diluted) for the half yr ended June 30, 2021 (and EUR0.69 (fundamental) and EUR0.67 (diluted) excluding dividends acquired from Suez of EUR122 million).
The weighted common variety of excellent shares within the half yr ended June 30, 2021 was 687,074,155.
Net revenue (loss) attributable to house owners of the Company for the half yr ended June 30, 2022 breaks down as follows:
(EUR million) Current Non-Current Total EBIT 1,475,0 (290.8) 1,184.2 Cost of internet monetary debt (319.6) - (319.6) Other monetary revenue and bills (207.2) (24.4) (231.6) Pre-tax internet revenue (loss) 948.1 (315.2) 633.0 Income tax expense (256.4) 22.7 (233.8) Net revenue (loss) of different equity-accounted entities - - - Net revenue (loss) from discontinued operations - (2.0) (2.0) Net (revenue) loss attributable to non-controlling pursuits (164.1) 2.9 (161.2) Net revenue (loss) attributable to house owners of the Company 527.6 (291.6) 236.0
La utilidad (pérdida) neta publicada atribuible a los propietarios de la Compañía para el semestre finalizado el 30 de junio de 2021 se desglosa como sigue:
(EUR million) Current Non-Current Total EBIT 900.7 (160.9) 739.8 Cost of internet monetary debt (152.4) - (152.4) Other monetary revenue and bills 53.9 (22.7) 31.2 Pre-tax internet revenue (loss) 802.2 (183.6) 618.6 Income tax expense (188.4) (29.6) (218.0) Net revenue (loss) of different equity-accounted entities - - - Net revenue (loss) from discontinued operations - (4.6) (4.6) Net (revenue) loss attributable to non-controlling pursuits (98.3) 2.8 (95.4) Net revenue (loss) attributable to house owners of the Company 515.5 (215.0) 300.5
El ingreso neto atribuible a los propietarios de la empresa, excluyendo los dividendos recibidos de Suez para el semestre finalizado el 30 de junio de 2021, es de 178,5 millones de euros.
Current EBIT reconciles with working revenue, as proven within the revenue assertion, as follows:
Half yr ended Half yr ended (EUR million) June 30, 2021 June 30, 2022 Current EBIT 901 1,475 Impairment losses on goodwill and unfavourable goodwill (2) (69) Net expenses to non-current provisions 5 (4) Restructuring prices (35) (32) Non-current provisions and impairment of property, plant and tools, intangible property, working monetary property and different (63) (120) Share acquisition prices, with or with out acquisition of management (66) (66) Total non-current objects (161) (291) Operating revenue after share of internet revenue of equity-accounted entities 740 1,184
Las pérdidas por deterioro se refieren al fondo de comercio ruso que se deterioró en su totalidad por un importe de -69 millones de euros debido al conflicto ruso-ucraniano.
Los costos de reestructuración totalizan -32 millones de euros en el primer semestre de 2022, una ligera disminución en comparación con 2021.
Non-current provisions, impairment and different prices whole -EUR120 million in H1 2022 and primarily comprise integration prices regarding the Suez mixture, in addition to prices incurred in respect of a dispute in North America and asset impairment in Russia and Ukraine (EUR11 million).
Share acquisition prices primarily comprise prices incurred within the context of the Suez mixture of EUR62 million for the primary semester of 2022.
C] FInancing
1/ CHANGE IN FREE CASH FLOW AND NET FINANCIAL DEBT
Net free money circulation totaled -EUR304 million for the half yr ended June 30, 2022, in contrast with +EUR270 million for the half yr ended June 30, 2021 (revealed).
The change in internet free money circulation in contrast with revealed figures for the half yr ended June 30, 2021 displays:
-- Higher EBITDA, pushed by the entry into the consolidation scope of actions acquired from Suez, natural exercise development fueled by favorable power value results, tariff opinions, good points generated by working and industrial effectivity plans and synergies. -- Net industrial investments of -EUR1,310 million, in contrast with -EUR834 million within the half yr ended June 30, 2021 (revealed), together with investments of actions acquired from Suez and industrial divestitures of EUR447 million, primarily comprising the sale of Integrated Waste Services property in Australia and OSIS Greater Paris subsidiaries. -- Seasonal traits in working capital necessities, with a change in H1 2022 of -EUR821 million primarily attributable to the value impact on working capital necessities within the power exercise and the combination of the actions of Suez.
El siguiente cuadro resume la evolución de la deuda financiera neta y el flujo de caja libre neto:
Half yr ended Half yr ended (EUR million) June 30, 2021 June 30, 2022 EBITDA 2,081 2,953 Net industrial investments (834) (1,310) Change in working WCR (381) (821) Dividends acquired from equity-accounted entities and joint ventures 30 61 Renewal bills (143) (147) Other non-current bills and restructuring expenses (95) (382) Interest on concession liabilities (IFRIC 12) (38) (39) Interest on IFRS 16 lease liabilities (14) (21) Financial objects (present curiosity paid and working money circulation from financing actions) (201) (330) Taxes paid (135) (268) Net free money circulation earlier than dividend fee, monetary investments and monetary divestitures 270 (304) Dividends paid (504) (953) Net monetary investments (245) (11,092) Change in receivables and different monetary property (9) 525 Issue / compensation of deeply subordinated securities 1 (500) Proceeds on concern of shares 10 (10) Free money circulation (477) (12,334) Effect of overseas change fee actions and different (74) (487) Change (550) (12,821) Opening internet monetary debt (13,217) (9,532) Closing internet monetary debt (13,767) (22,353)
La deuda financiera neta asciende a 22.353 millones de euros, frente a los 9.532 millones de euros a 31 de diciembre de 2021. Comparado con 31 de diciembre de 2021, la variación de la deuda financiera neta se debe principalmente a:
-- the change in internet free money circulation of -EUR304 million, -- the acquisition of Suez within the quantity of -EUR10,501 million, comprising the acquisition of Suez shares following the Public Tender Offer for -EUR9,318 million, internet monetary debt of the Suez scope of -EUR9,073 million and, acquisition prices of EUR62 million, internet of the sale of elements of the Suez Group to the Consortium on January 31, 2022 for +EUR8,018 million, -- internet monetary investments, excluding the acquisition of Suez, of -EUR145 million (together with acquisition prices and internet monetary debt of acquired entities), -- the compensation of Suez hybrid debt for -EUR500 million, excluding coupons. -- dividends voted by the Combined Shareholders' Meeting of June 15, 2022 of -EUR688 million.
La deuda financiera neta también se vio impactada por las fluctuaciones negativas del tipo de cambio de -464 millones de euros a 30 de junio de 2022.
2/ INDUSTRIAL AND FINANCIAL INVESTMENTS
2.1 industrial investments
Group gross industrial investments, together with new working monetary property, amounted to -EUR1,585 million for the half yr ended June 30, 2022, in contrast with -EUR972 million for the half yr ended June 30, 2021 (revealed).
The entry into the consolidation scope of the actions acquired from Suez is mirrored by gross investments of EUR472 million within the H1 2022.
Industrial investments, excluding discontinued operations, break down by section as follows:
Maintenance Half yr and Total gross ended June 30, contractual industrial Total internet 2022 (EUR necessities Discretionary investments Industrial industrial million) (1) development (2) divestitures investments France and Special Waste Europe 320 17 337 (70) 267 Europe excluding France 412 127 539 (27) 512 Rest of the world 584 52 636 (164) 472 Water applied sciences 100 4 104 (13) 91 Other (31) 0 (31) (1) (32) Group 1,385 200 1,585 (275) 1,310 (1) Including upkeep investments of EUR810 million (together with IFRS16 leases) and contractual investments of EUR575 million. (2) Including new OFA within the quantity of EUR56 million. Maintenance Half yr and Total gross ended June 30, contractual industrial Total internet 2021 (EUR necessities Discretionary investments Industrial industrial million) (1) development (2) divestitures investments France and Special Waste Europe 259 22 281 (37) 244 Europe excluding France 316 51 367 (55) 312 Rest of the world 217 44 261 (23) 238 Water applied sciences 32 5 37 (23) 14 Other 26 0 26 0 26 Group 850 122 972 (138) 834 (1) Including upkeep investments of EUR504 million (together with IFRS16 leases) and contractual investments of EUR346 million. (2) Including new OFA within the quantity of -EUR53 million.
2.2 Inversiones financieras y desinversiones
The important monetary funding in H1 2022 was the acquisition of the Suez Group, accomplished following the finalization of the Public Tender Offer within the first quarter for -EUR10,501 million, together with debt assumed and the remainder of the cession of part of the Suez Group to the consortium on January 31, 2022.
Excluding the acquisition of Suez, internet monetary investments totaled -EUR145 million in H1 2022 in contrast with -EUR245 million in H1 2021 (together with acquisition prices and internet monetary debt of acquired entities). In the primary half of the yr, investments primarily involved the acquisition of 47.4% of the share capital of Lydec «Lyonnaise des Eaux de Casablanca», a Moroccan subsidiary of the Suez group for EUR98 million.
Financial investments totaled -EUR413 million within the half yr ended June 30, 2021 (together with acquisition prices and internet monetary debt of acquired entities) and primarily included the acquisition of Osis in France (EUR262 million excluding IFRS 16 debt) and the acquisition of an natural fertilizer facility in France (EUR22 million).
Financial divestitures totaled -EUR1 million within the half yr ended June 30, 2022 (together with disposal prices) and primarily included the sale of Huancheng Puxi in China, a waste-to-energy subsidiary, for EUR27 million and a gross sales value adjustment in respect of a divestment carried out in 2021 in Germany of -EUR25 million.
Financial divestitures totaled EUR168 million for the half yr ended June 30, 2021 (together with disposal prices) and included the sale of the 5% stake within the Shenzhen concession in China by VE CGE (EUR80 million, excluding the compensation of the shareholder mortgage of EUR105 million), in addition to the sale of Utilities Services actions in Sweden and Norway within the quantity of EUR32 million (whole transaction of EUR70 million).
3/ OPERATING WORKING CAPITAL
The change in working working capital necessities (excluding discontinued operations) was -EUR821 million for the half yr ended June 30, 2022, in contrast with -EUR381 million for the half yr ended June 30, 2021 (revealed). This change is principally because of the seasonality and the rise on power costs on the working capital necessities and the entry of the actions of Suez.
See Note 6.3 to the consolidated monetary statements for the half yr ended June 30, 2022.
4/ EXTERNAL FINANCING
Structure of internet monetary debt
As of June 30, 2022, internet monetary debt after hedging is borrowed 85% at fastened charges (in contrast with 100% as of December 31, 2021).
This change is principally because of the integration of Suez debt, rising by 11 factors the share of floating-rate debt (by a swap portfolio), in addition to optimized administration of bond debt in Q1 2022. The Group nonetheless targets internet monetary debt primarily at fastened charges and plans to return to ranges near 100% on receipt of the proceeds from antitrust divestitures.
The common maturity of internet monetary debt was 6.7 years as of June 30, 2022 in contrast with 5.9 years as of June 30, 2021.
As of As of (EUR million) June 30, 2021 June 30, 2022 Non-current monetary liabilities 11,618 22,981 Current monetary liabilities 8,341 7,239 Bank overdrafts and different money place objects 225 440 Sub-total monetary debt 20,184 30,659 Cash and money equivalents (5,454) (7,175) Allocation of the truthful worth of hedging devices 8 412 Liquid property and financing monetary property (971) (1,543) Net monetary debt 13,767 22,353
Posición de liquidez del grupo
Liquid property of the Group as of June 30, 2022 break down as follows:
As of As of (EUR million) December 31, 2021 June 30, 2022 Veolia Environnement Undrawn syndicated mortgage facility 3,000.0 3,000.0 Undrawn MT bilateral credit score strains 1,000.0 1,000.0 Undrawn ST bilateral credit score strains - - Letters of credit score facility 22.9 10.1 Cash and money equivalents (1) 10,333.7 4,235.1 Subsidiaries: Suez SA undrawn syndicated mortgage facility - 2,500.0 Cash and money equivalents (1) 1,156.7 4,483.1 Total liquid property 15,513.3 15,228.3 Current debt and financial institution overdrafts and different money place objects Current debt 9,034.9 7,806.0 Bank overdrafts and different money place objects 241.9 439.6 Total present debt and financial institution overdrafts and different money place objects 9,276.8 8,245.6 Total liquid property internet of present debt and financial institution overdrafts and different money place objects 6,236.5 6,982.7 (1) Including liquid property and property linked to financing included in internet monetary debt.
apéndices
1/ COMBINED DATA FOR THE HALF YEAR ENDED JUNE 30, 2022
To allow comparability of H1 2022 monetary information together with the contribution of actions acquired from Suez from January 18, 2022, revealed key figures for the half yr ended June 30, 2021 had been restated to current the monetary information of the brand new Veolia group together with the actions acquired from Suez and the adjustment for the primary seventeen days of 2022 utilized to 2021. Combined information for the half yr ended June 30, 2022 is introduced for Revenue, EBITDA and Current EBIT.
2/ RECONCILIATION OF 2021 PUBLISHED DATA BY OPERATING SEGMENT WITH IFRS 8 RE-PRESENTED DATA
The change in Group governance efficient February 2022 led to an replace to the IFRS 8 working segments to mirror the brand new breakdown by Management Zone applied following the combination of Suez actions.
Pursuant to IFRS 8, section monetary reporting revealed in 2021 was re-presented in accordance with the brand new segments.
Re-presented figures at 30 June 2021 had been revealed on the web site of the Group : https://www.veolia.com/fr/groupe/finance/information-financiere/publications-financieres
3/ RECONCILIATION OF GAAP INDICATORS AND THE INDICATORS USED BY THE GROUP
The reconciliation of Current EBIT with working revenue, as proven within the revenue assertion, is introduced earlier on this press launch. Likewise, the reconciliation of present internet revenue with internet revenue attributable to house owners of the Company, as proven within the revenue assertion.
The reconciliation of Net money from working actions of continuous operations (included within the Consolidated Cash Flow Statement) with internet free money circulation is as follows :
Half yr ended Half yr ended (EUR million) June 30, 2021 June 30, 2022 Net money from working actions of continuous operations 1,058 1,028 Plus: Industrial investments, internet of grants (621) (1,196) Proceeds on disposal of commercial property 139 275 New working monetary property (53) (56) Principal funds on working monetary property 83 105 New finance lease debt (226) (249) Dividends acquired 30 61 Net monetary curiosity (246) (368) Less: Share acquisition and disposal prices 106 95 Net free money circulation 270 (304)
La conciliación de las inversiones industriales netas de subvenciones (incluidas en el Estado de Flujos de Efectivo Consolidado) con las inversiones industriales es la siguiente:
Half yr ended Half yr ended (EUR million) June 30, 2021 June 30, 2022 Industrial investments, internet of grants (621) (1,196) New finance lease debt (226) (249) Change in concession working capital necessities (73) (85) New working monetary property (53) (56) Industrial investments (972) (1,585)
4/ DEFINICIONES
No adjustments have been made to non-GAAP monetary indicators by the Group.
NON-STRICTLY ACCOUNTING INDICATORS (NON GAAP)
To calculate Current EBIT (which incorporates the share of present internet revenue of joint ventures and associates), the next objects are deducted from Operating revenue:
-- impairment of goodwill of managed subsidiaries and equity-accounted entities; -- restructuring expenses; -- non-current provisions and impairment; -- non-current and/or vital impairment of non-current property (property, plant and tools, intangible property and working monetary property); -- share acquisition prices.
Para los demás indicadores, consulte la Sección 5.5.8 del Documento de Registro Universal de 2021.
CONSOLIDATED INCOME STATEMENT
Half yr ended Half yr ended (EUR million) June 30, 2021 June 30, 2022 Revenue 13,645.1 20,195.6 Cost of gross sales (11,374.3) (16,765.7) Selling prices (279.0) (463.1) General and administrative bills (1,136.4) (1,511.7) Other working income and bills (164.0) (330.2) Operating revenue earlier than share of internet revenue (loss) of equity-accounted entities 691.4 1,124.9 Share of internet revenue (loss) of equity-accounted entities 48.4 59.3 o/w share of internet revenue (loss) of joint ventures 33.0 29.3 o/w share of internet revenue (loss) of associates 15.4 30.0 Operating revenue after share of internet revenue (loss) of equity-accounted entities 739.8 1,184.2 Cost of internet monetary debt (152.4) (319.6) Other monetary revenue and bills 31.2 (231.6) Pre-tax internet revenue (loss) 618.6 633.0 Income tax expense (218.0) (233.8) Share of internet revenue (loss) of different equity-accounted entities - - Net revenue (loss) from persevering with operations 400.6 399.2 Net revenue (loss) from discontinued operations (4.6) (2.0) Net revenue (loss) for the interval 396.0 397.2 Attributable to house owners of the Company 300.5 236.0 Attributable to non-controlling pursuits 95.5 161.2 NET INCOME (LOSS) ATTRIBUTABLE TO OWNERS OF THE COMPANY PER SHARE (in euros) Basic 0.53 0.34 Diluted 0.51 0.33 NET INCOME (LOSS) FROM CONTINUING OPERATIONS ATTRIBUTABLE TO OWNERS OF THE COMPANY PER SHARE (in euros) Basic 0.54 0.35 Diluted 0.52 0.34 NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO OWNERS OF THE COMPANY PER SHARE (in euros) Basic (0.01) - Diluted (0.01) -
ESTADO DE SITUACIÓN FINANCIERA CONSOLIDADO — ACTIVO
As of As of (EUR million) December 31, 2021 June 30, 2022 Goodwill 6,201.2 13,701.3 Concession intangible property 3,706.0 5,427.0 Other intangible property 1,328.6 2,323.7 Property, plant and tools 8,701.9 15,898.3 Right of use (internet) 1,562.4 2,098.8 Investments in joint ventures 1,238.5 1,241.9 Investments in associates 354.2 690.6 Non-consolidated investments (*) 3,770.3 89.8 Non-current working monetary property 1,191.4 1,216.5 Non-current spinoff devices - Assets 88.5 276.9 Other non-current monetary property 431.2 616.5 Deferred tax property 1,059.2 1,852.0 Non-current property 29,633.4 45,433.3 Inventories and work-in-progress 816.3 1,440.3 Operating receivables 10,015.3 13,825.8 Current working monetary property 129.0 239.0 Other present monetary property 1,521.0 2,511.8 Current spinoff devices - Assets 344.9 579.0 Cash and money equivalents 10,518.7 7,174.9 Assets labeled as held on the market 98.7 984.1 Current property 23,443.9 26,754.9 TOTAL ASSETS 53,077.3 72,188.2 (*) As of December 31, 2021, non-consolidated investments encompass Suez shares for EUR3,721.0 million and different securities for EUR49.3 million.
ESTADO DE SITUACIÓN FINANCIERA CONSOLIDADO – PATRIMONIO Y PASIVO
As of As of (EUR million) December 31, 2021 June 30, 2022 Share capital 3,498.6 3,502.9 Additional paid-in capital 9,309.5 9,305.2 Deeply subordinated perpetual securities 2,460.7 3,506.6 Reserves and retained earnings attributable to house owners of the Company (3,750.8) (4,072.1) Total fairness attributable to house owners of the Company 11,518.0 12,242.6 Total fairness attributable to non-controlling pursuits 1,252.0 2,976.0 Shareholders' fairness 12,770.0 15,218.6 Non-current provisions 1,876.6 2,361.6 Non-current monetary liabilities 10,462.5 21,219.8 Non-current IFRS 16 lease debt 1,298.1 1,760.7 Non-current spinoff devices - Liabilities 68.8 598.1 Concession liabilities - non-current 1,588.4 1,582.0 Deferred tax liabilities 1,196.4 2,331.8 Non-current liabilities 16,490.8 29,854.0 Operating payables 13,548.9 17,804.7 Concession liabilities - present 169.4 193.6 Current provisions 538.5 814.5 Current monetary liabilities 8,624.3 6,711.8 Current IFRS 16 lease debt 410.6 528.4 Current spinoff devices - Liabilities 261.5 492.3 Bank overdrafts and different money place objects 241.9 439.6 Liabilities straight related to property labeled as held on the market 21.4 130.7 Current liabilities 23,816.5 27,115.6 TOTAL EQUITY AND LIABILITIES 53,077.3 72,188.2
ESTADO DE FLUJOS DE EFECTIVO CONSOLIDADO
Half yr ended Half yr ended (EUR million) June 30, 2021 June 30, 2022 Net revenue (loss) for the interval 396.0 397.2 Net revenue (loss) from persevering with operations 400.6 399.2 Net revenue (loss) from discontinued operations (4.6) (2.0) Operating depreciation, amortization, provisions and impairment losses 1,059.3 1,243.5 Financial amortization and impairment losses (8.5) (2.0) Gains (losses) on disposal of working property (39.0) (99.4) Gains (losses) on disposal of monetary property 0.3 3.4 Share of internet revenue (loss) of joint ventures (33.0) (29.3) Share of internet revenue (loss) of associates (15.4) (30.0) Dividends acquired (123.0) (2.0) Cost of internet monetary debt 152.4 319.6 Income tax expense 218.0 233.8 Other objects 35.0 164.9 Operating money circulation earlier than adjustments in working capital 1,646.7 2,201.7 Change in working working capital necessities (380.9) (821.0) Change in concession working capital necessities (72.7) (84.4) Income taxes paid (135.0) (267.9) Net money from working actions of continuous operations 1,058.1 1,028.4 Net money from working actions of discontinued operations (13.2) 22.1 Net money from working actions 1,044.9 1,050.5 Industrial investments, internet of grants (620.8) (1,195.5) Proceeds on disposal of commercial property 100.0 274.9 Purchases of investments (310.5) (3,439.5) Proceeds on disposal of monetary property 176.5 7,505.4 Operating monetary property - - New working monetary property (53.0) (56.2) Principal funds on working monetary property 83.4 105.4 Dividends acquired (together with dividends acquired from joint ventures and associates) 30.7 60.8 New non-current loans granted (64.5) (99.1) Principal funds on non-current loans 161.4 108.8 Net lower/improve in present loans 16.2 867.5 Net money utilized in investing actions of continuous operations (480.6) 4,132.5 Net money utilized in investing actions of discontinued operations - 25.8 Net money utilized in investing actions (480.6) 4,158.3
ESTADO DE FLUJO DE EFECTIVO CONSOLIDADO CONTINUACIÓN
Half yr ended Half yr ended (EUR million) June 30, 2021 June 30, 2022 Net improve (lower) in present monetary liabilities (596.5) (4,073.7) Repayment of present IFRS 16 lease debt (229.1) (275.4) Other adjustments in non-current IFRS 16 lease debt (64.8) (73.7) New non-current borrowings and different debt 791.4 329.7 Principal funds on non-current borrowings and different debt (15.6) (677.7) Change in liquid property and financing monetary property (135.5) (570.1) Proceeds on concern of shares 17.4 - Share capital discount - - Transactions with non-controlling pursuits: partial purchases (*) (1.9) (1,766.6) Transactions with non-controlling pursuits: partial gross sales 0.3 1.4 Proceeds on concern of deeply subordinated securities 0.8 (500.0) Coupons on deeply subordinated securities (23.9) (80.1) Purchases of/proceeds from treasury shares 10.1 (10.4) Dividends paid (480.2) (185.2) Interest paid (194.3) (308.0) Interest on IFRIC 12 working property (37.8) (38.8) Interest on IFRS 16 lease debt (**) (14.0) (20.7) Net money from (utilized in) financing actions of continuous operations (973.6) (8,249.3) Net money from (utilized in) financing actions of discontinued operations (0.1) (84.9) Net money from (utilized in) financing actions (973.7) (8,334.2) Effect of overseas change fee adjustments and different 17.2 (401.8) Increase (lower) in exterior internet money of discontinued operations - (14.3) NET CASH AT THE BEGINNING OF THE PERIOD 5,622.4 10,276.8 NET CASH AT THE END OF THE PERIOD 5,229.4 6,735.3 Cash and money equivalents 5,453.9 7,174.9 Bank overdrafts and different money place objects 224.5 439.6 NET CASH AT THE END OF THE PERIOD 5,229.4 6,735.3 (*) Following the takeover of Suez on January 18, 2022, Veolia acquired the residual shares not contributed in the course of the Public Tender Offer for an quantity of 1,752 million euros (**) Interest on IFRS 16 lease debt shouldn't be included within the Cost of internet monetary debt, however in Other monetary revenue and bills
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(1) Principales impactos cambiarios por divisa: dólar estadounidense (+207 millones de euros), libra esterlina (+60 millones de euros), corona checa (+44 millones de euros), yuan chino RenMinBi (+51 millones de euros), zloty polaco ( -21 millones de euros), florín húngaro (-23 millones de euros), peso chileno (-15 millones de euros), peso argentino (-14 millones de euros).
(2) Reexpresión de los primeros 17 días de la contribución de las actividades de Suez
(3) Reexpresión de los primeros 17 días de la contribución de las actividades de Suez
(4) Impactos cambiarios por moneda: corona checa (+12 millones de euros), libra esterlina (+10 millones de euros), yuan chino RenMinBi (+9 millones de euros), dólar estadounidense (+31 millones de euros), libra libanesa (-8 millones de euros), Peso chileno (-7 millones de euros).
(5) Excluye pagos de principal de activos financieros operativos.
(6) Ver Sección 6.1 para más información sobre esta reformulación
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CONTACT: Group Media Relations
laurent obadia
Evguenia Mazalova — Emilie Dupas
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Relaciones con inversores y analistas
Ronald Wasylec – Ariane de Lamaze
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SOURCE: Veolia Environnement Copyright Business Wire 2022
