PARIS– (BUSINESS WIRE) –Regulatory News:
Announced at the end of summer 2020, the construction project for the world champion in ecological transformation, which brings together Veolia (Paris: VIE) and most of Suez’s international activities, became a reality at the beginning of the year. this, with the successful integration of 40,000 employees worldwide.
The Competition & Markets Authority (CMA), the British competition authority, is the only one in the world that has not ruled, for more than 16 months, on the effects of the merger on the British market.
To end this long wait period, but above all to dedicate itself fully to the development of its world champion, in the United Kingdom, as elsewhere in the world, Veolia informed the CMA on Monday about its. intention to sell all of Suez’s waste work to the country.
This radical decision is likely to effectively respond to the CMA’s apathy, whose analysis of the markets of concern is disputed by Veolia and regrets the lack of sharing of issues related to our sectors of activity.
Indeed, at a time when ecological change is being enthusiastically demanded by populations and placed at the center of the agenda of public authorities but also by economic actors anywhere in the world, the constitution of a great world champion with ability to provide a solution. action for the environment on five continents never seemed necessary.
In the United Kingdom, as anywhere in the world, Veolia is convinced that the addition and coherence of teams, their knowledge and solutions is the best way to respond effectively and quickly to the needs of customers, territories and industries. , to address the major challenges of climate change, energy security, loss of biodiversity, scarcity of materials.
The initial positive results of this merger, both in human and operational and financial terms, also confirm the relevance of the project led by Veolia.
Thanks to the contribution of new skills, new technologies and new geography, this integration is now taking full meaning and accelerating the implementation of the Impact 2023 strategic program, both by strengthening Veolia’s footprint internationally and by leveraging Group transformation capabilities.
Now with 220,000 employees in more than 50 countries and revenues of approximately 38 billion euros, increased by more than 30% thanks to the contribution of Suez’s activities, Veolia is now more than he is now the world’s leading active group in the water, waste and energy sectors.
We regret that the CMA review does not allow the Group to realize the full potential of ecological change in the UK, but it does not diminish our commitment to this territory. This does not affect the overall scope of the project led by Veolia, whose capacity to create value remains intact.
These disposals, on the other hand, will free up substantial capacity to finance new developments, particularly in the energy sector, which will allow the Group to regain a balanced portfolio of activities between water, energy and waste. . At a time when energy sovereignty and the development of alternative energy sources are both strategic and ecological imperative, Veolia intends to pursue its development in this sector in conjunction with other activities of the Group.
This sale will make it possible to reduce the Group’s debt more quickly, leaving Veolia as the end of Impact 2023 draws closer than ever, and thus offering adequate financial leeway at the start of a new strategic program that will put change at the heart of its growth model for the future.
The Veolia group aims to be a consulting company on ecological change. Located on five continents with nearly 220,000 employees, the Group designs and puts in place useful and concrete solutions for water, waste and energy management that contribute to radically changing the situation. Through its three complementary activities, Veolia contributes to building access to resources, conservation of available resources and renewing them. In 2021, the Veolia group provided drinking water to 79 million residents and 61 million to sanitation, produced nearly 48 million megawatt hours and recovered 48 million tons of waste. Veolia Environnement (Paris Euronext: VIE) achieved a combined revenue of 28.508 billion euros in 2021. www.veolia.com
Group journalism relationships
Laurent Obadia – Evgeniya Mazalova
Emilie Dupas – Mathilde Bouchoux
Tel: + 33 6 27 45 11 38 / + 33 6 18 24 51 00
Analysts and Investors
Ronald Wasylec – Ariane de Lamaze
ganyan. + 33 1 85 57 84 76 /84 80