Internet share price services are telling Veolia shareholders to sell up and move on as Veolia’s share price falls to €15.38.
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Internet share price services are telling Veolia shareholders to sell up and move on as Veolia’s share price falls to €15.38.
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Veolia falls further UPDATE
http://uk.biz.yahoo.com/10032008/323/paris-shares-close-lower-oil-fears-veolia-falls-further-update.html
“Amid limited corporate newsflow, Veolia Environnement extended its losses as several brokers cut their price targets on the back of Friday’s below-consensus 2007 earnings and cautious medium-term guidance.”
Veolia was down 1.98 eur or 4.00 pct to 47.52, on top of its 9.93 pct slide in the previous session.
“Deutsche Bank cut its price target…retaining its ‘hold’ stance, commenting that the outlook for Veolia looks uncertain and margins appear to be suffering.”
Business magazine Forbes describes Veolia’s efforts to ‘control the damage’:
http://www.forbes.com/2009/03/06/veolia-earnings-update-markets-equity_water.html
“Waste management firm downsizes and cuts costs to cope with falling demand. French water and waste management company Veolia Environment is avoiding a mess of its own by disposing assets and saving cash, following a dive in 2008 profits…The firm’s debt rose to 16.5 billion euros ($20.9 billion) at the end of 2008, from 15.1 billion euros ($19.1 billion) in the previous year, or 3.6 times its core earnings.”
http://www.forbes.com/2008/10/20/veolia-earnings-update-markets-equity-cx_je_1020markets20.html?partner=contextstory
“Last August, the world’s largest water company said it was sticking to its targets for growth for 2008. But the dramatic deterioration of the economy and a massive demand in its waste business, which accounts for 50.0% of its profits, forced Veolia to reconsider its targets, prompting analysts to downgrade the stock. “The effects of the economic slowdown [decline in tonnages both collected and treated] and the decrease in raw material pricing [paper, metals] have been particularly felt in the French and German business activities,” the company said in a press release.”
http://www.forbes.com/2008/10/21/veolia-earnings-closer-markets-equity-cx_je_mp_1020markets40.html?partner=contextstory
“French water and waste management company Veolia Environment watered down guidance for its investments and operating cash flow in 2008, prompting a share sell-off as investors rushed to rid themselves of yet another victim of the global economic slowdown.”
http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=7f8cb395-ab42-477e-9b3b-112d2946fb0d
“Credit Suisse downgrades Veolia Environnement (VE) to underperform from neutral and cuts its target price to EUR13.70 from EUR20 after the French water and waste service provider’s full-year results Friday. The firm noted management’s bearish 2009 outlook and said it is not compensated by a strong strategic message.”
on the ethical / artistic front:
Visual artist Van Thanh Rudd recently created a stir in Melbourne, Australia with his installation “Economy of Movement – A Piece of Palestine.” Rudd was invited to exhibit at an art space called the Platform in the group show Resisting Subversion of Subversive Resistance. The Platform is situated directly beneath Melbourne’s major Flinders Street train station. Rudd, 35 years old, has won several awards and his work has been shown in Australia since 1993. In 2004, he established an arts movement called The Carriers Project, which involves carrying artwork on foot through public and private spaces of major cities to expose challenging artwork to mass audiences. Although Rudd has declined to talk to the media about his latest artwork, he commented on his installation to The Electronic Intifada.
When asked what inspired him to create “Economy of Movement – A Piece of Palestine,” Rudd replied that “As Melbourne’s city rail network is operated by Connex [a subsidiary of the French company Veolia], I thought it would be a great opportunity to make artwork that would clearly outline Veolia’s illegal operations on occupied Palestinian territory.”
Read more at http://electronicintifada.net/v2/article10388.shtml