Veolia Environnement SA · EURONEXT:VIE
Veolia Environnement SA — FY2020 Earnings Presentation
65 slides from Veolia Environnement SA's earnings presentation, Feb 25, 2021
Slide 1: Annual Results 2020
Annual Results 2020 February 25th, 2021
Slide 2: Disclaimer
Disclaimer Veolia Environnement is a corporation listed on the Euronext Paris. This document contains “forward-looking statements” within the meaning of the provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performan
Slide 3: Agenda
12M 2020 RESULTS AGENDA 01 2020 : an exceptional and historical year for Veolia 02 2021 Guidance and updated medium term objectives 03 Detailed FY2020 performance 04 Appendices 12M 2020 Results 3
Slide 4: 2020: an exceptional and historical year for Veolia
1- 2020: an exceptional and historical year for Veolia Antoine Frérot, CEO Estelle Brachlianoff, COO Olivier Brousse, EVP Strategy and innovation
Slide 5: 2020: An exceptional and historical year for Veolia
2020: AN EXCEPTIONAL AND HISTORICAL YEAR FOR VEOLIA 1. 2020: AN EXCEPTIONAL CAPACITY OF RESILIENCE AND REBOUND In the particularly difficult context of the COVID outbreak , Veolia has once again proven both its resilience and its exceptional rebound capacity 2. DESPITE SANITARY CRISIS, PRIORITIES
Slide 6: Q4 results ahead of target and above 2019
1. AN EXCEPTIONAL CAPACITY OF RESILIENCE AND REBOUND Q4 RESULTS AHEAD OF TARGET AND ABOVE 2019 Q4 Results ahead of objective : after a strong rebound in Q3, Q4 2020 above Q4, 2019 despite 2nd wave of COVID in Europe, thanks to our resilient business model and our adaptation measures Q4 performan
Slide 7: Q4 revenue and EBITDA above 2019
1. AN EXCEPTIONAL CAPACITY OF RESILIENCE AND REBOUND Q4 REVENUE AND EBITDA ABOVE 2019 ❑ Revenue: strong recovery since June, confirmed Q4 2020 Revenue up +0.9%(1) in Q3, and reinforced in Q4 Q4 EBITDA margin back up to 15.7%, vs. 15.2% in Q4 2019 ✔ The major part of our activities have proven resili
Slide 8: Q4 performance by business/region
1. AN EXCEPTIONAL CAPACITY OF RESILIENCE AND REBOUND Q4 PERFORMANCE BY BUSINESS/REGION ❑ Europe : 2nd wave had a limited impact on our activities ✔ Water distribution & district heating : performed very well ✔ Construction works : full speed ✔ C&I waste volumes still impacted, notably in the UK with
Slide 9: Cost cutting plan more than doubled: €550M achieved in 2020
1. AN EXCEPTIONAL RESISTANCE AND CAPACITY OF REBOUND COST CUTTING PLAN MORE THAN DOUBLED : €550M ACHIEVED IN 2020 1.Recurring Efficiency program 2. Recover & Adapt Plan TOTAL 2020 COST €278M €272M CUTTING €550M Leverage from acceleration of our digital roadmap ● Procurement : opportunities seized ●
Slide 10: All development projects maintained to fuel future growth
1. AN EXCEPTIONAL CAPACITY OF RESISTANCE AND REBOUND ALL DEVELOPMENT PROJECTS MAINTAINED TO FUEL FUTURE GROWTH Despite sanitary crisis, commercial momentum remains strong and project pipeline full ❑ New developments in Central and Eastern Europe mainly in Energy ✔ Acquisition of the District Heating
Slide 11: Which lessons to draw from the crisis for Veolia?
1. AN EXCEPTIONAL CAPACITY OF RESISTANCE AND REBOUND WHICH LESSONS TO DRAW FROM THE CRISIS FOR VEOLIA? Key takeaways from the Covid 19 crisis ❑Responsiveness, resilience, as well as adaptability and rebound : ✔ Strong mobilization of all our employees, ✔ Continuity of essential services maintained,
Slide 12: Impact 2023 program roll out (1/4): strategic choices remain valid
2. IMPACT 2023 PROGRAM ROLL OUT (1/4) OUR STRATEGIC CHOICES REMAIN VALID 1. Accelerate 2. Optimize 3. Reduce ● Optimization of our existing portfolio and ● Activities with insufficient growth repositioning of our offering prospects ● Seize new opportunities in some countries WATER BARREL/ Aquavista
Slide 13: Impact 2023 roll-out (2/4): priorities fully executed in 2020
2. IMPACT 2023 STRATEGIC PLAN ROLL-OUT (2/4) DESPITE SANITARY CRISIS, PRIORITIES OF IMPACT 2023 FULLY EXECUTED IN 2020 1. Hazardous Waste 2. Fuel conversion in Europe 3. Plastic recycling →Resilience during the crisis →Objective: eliminate coal by 2030 →Very supportive market and o Revenue +0.7% to
Slide 14: Impact 2023 roll-out (3/4): hazardous waste
2. IMPACT 2023 STRATEGIC PLAN ROLL-OUT (3/4) PRIORITIES OF IMPACT 2023 FULLY EXECUTED IN 2020 : HAZARDOUS WASTE 2020 Revenue: €2.5bn Europe €1.2 bn New Evonik plant in Germany Asia €0.2 bn China: 7 plants under North America(1) €0.8bn operation + 4 New Gum Springs plant in commissioned in Arkansas
Slide 15: Impact 2023 roll-out (4/4): asset rotation well on track
2. IMPACT 2023 STRATEGIC PLAN ROLL-OUT (4/4) ASSET ROTATION WELL ON TRACK ~€2bn of asset rotation out of our initial plan of €3bn in Impact 2023 already closed or signed In 2019-2020 : €1.7bn Municipal energy in the US Industrial cleaning in Singapore Landfill and other assets in China S
Slide 16: Veolia stakeholder value creation model
3. VEOLIA STAKEHOLDER VALUE CREATION MODEL ● 5 stakeholders ● 18 KPIs ● All KPIs audited 12M 2020 Results 16
Slide 17: Committing to a multifaceted performance
3. VEOLIA STAKEHOLDER VALUE CREATION MODEL Committing to a multifaceted performance Highlights on 4 objectives (other than economic and financial) Clients Planet Employees Society Customer and Combating climate Employee commitment Access to essential services Objective consumer satisfaction change (
Slide 18: Innovation development projects accelerated in 2020
3. VEOLIA STAKEHOLDER VALUE CREATION MODEL Innovation development projects accelerated in 2020 Recycling electric car batteries From organic waste to fertilizers and proteins Estimated number of used batteries in Europe • 2020 : partnership Solvay - between 2018 and 2030 ● Using organic waste and Ve
Slide 19: ESG progress reflected in international rankings
3. VEOLIA STAKEHOLDER VALUE CREATION MODEL ESG progress reflected in international rankings Strong recognition of Veolia leadership in ecological transformation Non-financial ratings & awards ✔ N° 1 in the Utilities sector 2020: PURSUIT OF IMPROVEMENT OF VEOLIA ESG RANKINGS and “Prime” excellence st
Slide 20: The Suez Veolia combination: a transaction benefitting all stakeholders
4. STRATEGIC VISION AND AGILITY : THE SUEZ VEOLIA COMBINATION A TRANSACTION BENEFITTING ALL STAKEHOLDERS A unique opportunity to create the world leader of the ecological transformation ✔ Climate Change emergency facing our planet and societies ✔ Become a leader of the European Green Deal and of oth
Slide 21: The Suez Veolia combination: transaction moving forward
4. STRATEGIC VISION AND AGILITY : THE SUEZ VEOLIA COMBINATION TRANSACTION MOVING FORWARD Filing of a tender offer on the 70.1%remaining shares in Suez on February 8th, 2021 On October 6th 2020, Veolia has acquired 29.9% of Suez’s capital from Engie at 18€ per share (coupon attached) On Februar
Slide 22: 2021 Guidance and updated medium term objectives
2- 2021 Guidance and updated medium term objectives Antoine Frérot, CEO
Slide 23: 2021 guidance: recovery of normal performance and growth trajectory
2021 GUIDANCE: RECOVERY OF OUR NORMAL PERFORMANCE AND GROWTH TRAJECTORY Despite expected continued impact of COVID beginning of 2021 VEOLIA will more than offset 2020 and deliver strong results growth in 2021 Revenue : above 2019 level Activity lost due to COVID almost recovered and complemented
Slide 24: 2021 guidance: recovery of normal performance and growth trajectory
2021 GUIDANCE : RECOVERY OF OUR NORMAL PERFORMANCE AND GROWTH TRAJECTORY Despite expected continued impact of COVID beginning of 2021 VEOLIA will more than offset 2020 and deliver strong results growth in 2021 Revenue (€M) EBITDA (€M) -2.9%* in 2020 >+3%* in 2021 -8%* in 2020 >+10%* in 2021 12M 2020
Slide 25: Medium term outlook: Impact 2023 financial targets delayed by one year
MEDIUM TERM OUTLOOK : STRATEGIC CHOICES FULLY RELEVANT AND IMPACT 2023 FINANCIAL TARGETS ROUGHLY DELAYED BY ONE YEAR ❑ Guidance 2021(1): Revenue: above 2019 level EBITDA expected above €4bn ❑ Medium term guidance The strategic choices included in Impact 2023 remains fully relevant. The strat
Slide 26: 12M 2020 Financial & Operational Performance
3- 12M 2020 Financial & Operational Performance Claude Laruelle, CFO
Slide 27: 2020 key figures: exceptional resistance and rebound
2020 KEY FIGURES : EXCEPTIONAL RESISTANCE AND REBOUND Var. Y-Y Var. at In €M 12M,2019 12M,2020 vs. constant FX 12M,2019 vs. 12M,2019 Revenue 27 189 26 010 -4.3% -2.9% EBITDA 4 022 3 641 -9.5% -8.0% Current EBIT 1 730 1 275 -26.3% -24.8% Current net income Group share 760 415 -45.4% -43.9% Net Income
Slide 28: Q3 rebound continued in Q4
AFTER THE COVID OUTBREAK, Q3 REBOUND CONTINUED IN Q4 Q4 REVENUE UP +0.9% AND Q4 EBITDA UP +4.2% AT CONSTANT FX 2019 2020 Revenue growth at constant FX Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 France +2.8% +5.0% +0.5% +0.1% +2.0% -3.1% -16.1% +0.8% +2.5% Europe excl. France +4.7% +7.2% +4.1% +1.1% +4.1% +1.1% -6
Slide 29: Q4 revenue of €7,305M, +0.9% at constant FX
Q4 REVENUE BRIDGE Q4 REVENUE OF €7 305M, +0.9% AT CONSTANT FX FAVORABLE PRICING MORE THAN OFFSET WEAK VOLUMES IN WASTE In €M FX: -€188M : Latin America -€49M, US dollar -€33M, Polish zloty, Central & Eastern Europe for -€39M SCOPE: -€1M : mostly divestiture of US Municipal Energy closed in Dec.
Slide 30: 12M revenue of €26,010M, -2.9% at constant FX
12M REVENUE BRIDGE : AFTER THE COVID OUTBREAK, REBOUND IN H2 12M REVENUE OF €26 010M, -2.9% AT CONSTANT FX FX: -€401M, o/w: Latin America -€138M, Central & In €M Eastern Europe -€102M, Australian dollar -€30M, North America -€35M SCOPE: -€102M : divestiture of US Municipal Energy closed in Dec.
Slide 31: Waste revenue up +2.4% in Q4 at constant FX
WASTE REVENUE UP +2.4% IN Q4 AT CONSTANT FX REVENUE GROWTH BACK IN Q4, DRIVEN BY PRICES Q1, 2020 Q2, 2020 Q3, 2020 Q4, 2020 FY 2020 Recycled raw materials prices -2.5% -1.4% -0.9% +0.5% -1.1% Volumes / activity levels -1.8% -14.7% -2.6% -1.8% -5.2% Price increases +2.4% +1.9% +1.6% +2.3% +2.0% Other
Slide 32: Q4 EBITDA of €1,149M, up +4.2% at constant FX
Q4 EBITDA OF €1 149M, UP +4.2% AT CONSTANT FX FOREX: -€26M. Latam -€8M, US$ -€3M, Polish zloty, Central and Eastern Europe -€11M SCOPE : +€8M : mostly divestiture of US Municipal Energy -€22M offset by tuck ins in Central Europe COMMERCE/VOLUMES/WORKS : -€11M including COVID impact -2.3 % +0.7
Slide 33: 12M EBITDA of €3,641M, -8.0% at constant FX
12M EBITDA OF €3 641M, -8.0% AT CONSTANT FX FOREX: -€59M : o/w Latam -€21M; Australian dollar -€4M; Central and Eastern Europe -€20M SCOPE : -€36M : divestiture of US Municipal Energy -€84M partially offset by acquisitions in Central and Eastern Europe COMMERCE/VOLUMES/WORKS : -€443M, includin
Slide 34: France - 12M and Q4 operational review
FRANCE - 12M AND Q4 OPERATIONAL REVIEW RESILIENT WATER –WASTE RECOVERY IN H2 at constant FX In €M Q4,2019 2019 2020 At constant FX Q4,2020 Revenue, of which 5 612 5 390 -3.9% -3.9% 1 436 1 472 +2.5% +2.5% Water 3 004 2 937 -2.2% -2.2% 776 795 +2.5% +2.5% Waste 2 608 2 453 -5.9% -5.9% 660 677
Slide 35: Rest of Europe - 12M and Q4 operational review
REST OF EUROPE - 12M AND Q4 OPERATIONAL REVIEW STRONG GROWTH IN CENTRAL EUROPE - RECOVERY IN H2 IN ALL OTHER REGIONS In €M Q4, 2019 2019 2020 At constant FX Q4,2020 At constant FX Revenue, of which 9 501 9 411 -0.9% +0.4% 2 631 2 710 +3.0% +5.3% Central & Eastern Europe 3 296 3 401 +3.2% +6.
Slide 36: Rest of the World - 12M and Q4 operational review
REST OF THE WORLD - 12M AND Q4 OPERATIONAL REVIEW RECOVERY IN ALL REGIONS In €M 2019 2020 at constant FX Q4,2019 Q4,2020 at constant FX Revenue, of which 7 325 6 760 -7.7% -4.5%/-1.7%(2) 2 037 1 836 -9.8% -4.6%/-1.5%(2) Asia 2 135 2 131 -0.2% +0.7% 679 660 -2.8% -0.8% Latin America (Latam) 8
Slide 37: Global Business - 12M and Q4 operational review
GLOBAL BUSINESS - 12M AND Q4 OPERATIONAL REVIEW STRONG RECOVERY IN Q4 IN CONSTRUCTION AND HAZARDOUS WASTE 2019 2020 At constant FX Q4,2019 Q4,2020 In €M At constant FX Revenue, of which 4 734 4 444 -6.1% -5.3% 1 306 1 284 -1.7% -0.1%/ +2.0%(2) Construction 2 823 2 748 -2.7% -1.2% 806 812 +0.
Slide 38: 2020 current EBIT of €1,275M
2020 CURRENT EBIT OF €1 275M 12M 2019 12M, 2020 Var. vs. 2019 Var. vs. 2019 In €M at constant at constant FX scope and FX EBITDA 4 022 3 641 -8.0% -7.1% Renewal expenses -280 -275 Depreciation & Amortization (including -2 192 -2 190 principal payments on OFAs) Provisions, fair value adjustment & oth
Slide 39: 2020 current net income of €415M
2020 CURRENT NET INCOME OF €415M 12M 2019 12M, 2020 Variation Var. vs. 2019 In €M vs. 2019 at at constant constant FX scope and FX Current EBIT(1) 1 730 1 275 -24.8% -21.2% Cost of net financial debt -441 -414 Other financial income and expense -179 -166 Net financial capital gains(1) +24 +26 Income
Slide 40: Net income Group share of €89M
NET INCOME GROUP SHARE OF €89M 2019 2020 Variation vs. Var. vs. 2019 In €M 2019 at constant FX Current net income – Group share 760 415 -45.4% -43.9% Non current items, net of tax Restructuring charges -121 -95 Non current impairments and others, net -184 -231 income from discontinued operations and
Slide 41: Better than expected FCF, including €435M discretionary growth capex
SOLID FINANCIALS BETTER THAN EXPECTED FCF, INCLUDING €435M OF DISCRETIONARY GROWTH CAPEX, UP 20% Net Capex 2 151 2 201 (in €M) Net industrial Capex of €2 151M, vs. €2 201M 362 435 Discretionary Optimization of maintenance capex (including IFRS16 and net of industrial growth divestments) down 8%
Slide 42: Evolution of net financial debt
EVOLUTION OF NET FINANCIAL DEBT 12M 2020 Results 42
Slide 43: A solid financing structure: very strong cash position and robust B/S
A SOLID FINANCING STRUCTURE : A VERY STRONG CASH POSITION AND ROBUST B/S Strong cash position o Net Financial debt of €13 217M o €6.7bn of cash at 31 December 2020 o January 2020 issuance of €500M bond: 0.664% 11 years o April 2020 issuance of €700M bond: 1.25% 8 years o June 2020 issuance of €500M
Slide 44: 2021 guidance: recovery of normal performance and growth trajectory
2021 GUIDANCE: RECOVERY OF OUR NORMAL PERFORMANCE AND GROWTH TRAJECTORY Despite expected continued impact of COVID beginning of 2021 VEOLIA will more than offset 2020 and deliver strong results growth in 2021 Revenue : above 2019 level Activity lost due to COVID almost recovered and complemented
Slide 45: Medium term outlook: Impact 2023 financial targets delayed by one year
MEDIUM TERM OUTLOOK : STRATEGIC CHOICES FULLY RELEVANT AND IMPACT 2023 FINANCIAL TARGETS ROUGHLY DELAYED BY ONE YEAR ❑ Guidance 2021(1): Revenue: above 2019 level EBITDA expected above €4bn ❑ Medium term guidance The strategic choices included in Impact 2023 remains fully relevant. The strat
Slide 46: Appendices
12M 2020 Key Figures Appendices
Slide 47: Appendix 1: Currency movements
APPENDIX 1: CURRENCY MOVEMENTS For 1€ 2019 2020 Δ 2020 vs. 2019 US dollar Average rate 1.120 1.141 -1.9% Closing rate 1.123 1.227 -9.2% UK pound sterling Average rate 0.877 0.889 -1.3% Closing rate 0.851 0.899 -5.7% Australian dollar Average rate 1.610 1.655 -2.8% Closing rate 1.600 1.590 +0.6% Chin
Slide 48: Appendix 2: Revenue analysis by segment
APPENDIX 2: REVENUE OF €26 010M, -2.5% AT CONSTANT SCOPE AND FX ANALYSIS BY SEGMENT 27 189 In €M 26 010 4 734 4 444 7 325 6 760 Variations vs.2019 Variation At constant scope At constant FX and FX Global business -6.1% -5.3% -5.2% Rest of the World -7.7% -4.5% -1.7% Europe excl. France -0.9% +0.
Slide 49: Appendix 3: Quarterly revenue by segment
APPENDIX 3: QUARTERLY REVENUE BY SEGMENT 1st quarter 2020 2nd quarter 2020 3rd quarter 2020 In €M 2019 2020 Δ at cst FX Δ at cst 2019 2020 Δ at cst Δ at cst 2019 2020 Δ at cst Δ at cst scope FX scope & FX scope & & FX FX FX France 1 347 1 305 -3.1% -3.1% 1 412 1 185 -16.1% -16.1% 1 416 1 428 +0.8% +
Slide 50: Appendix 4: Quarterly revenue by business
APPENDIX 4: QUARTERLY REVENUE BY BUSINESS 1st quarter 2020 2nd quarter 2020 3rd quarter 2020 In €M 2019 2020 Δ at cst Δ at cst 2019 2020 Δ at cst Δ at cst 2019 2020 Δ at cst Δ at cst FX scope & FX scope FX scope & FX & FX FX Water 2 637 2 645 +0.0% -0.4% 2 705 2 451 -8.8% -9.5% 2 752 2 794 +3.4% +2.
Slide 51: Appendix 5: Revenue analysis by business (1/2)
APPENDIX 5 : REVENUE OF €26 010M, -2.5% AT CONSTANT SCOPE AND FX ANALYSIS BY BUSINESS (1/2) In 27 189 €M 26 010 5 880 5 437 Variations vs. 2019 Variation At constant At constant FX scope and FX Energy -7.5% -5.8% -2.0% 10 167 9 673 Waste -4.9% -3.2% -4.1% Water -2.0% -1.0% -1.5% Technology & Con
Slide 52: Appendix 5: Revenue analysis by business (2/2)
APPENDIX 5 : REVENUE OF €26 010M, -2.5% AT CONSTANT SCOPE AND FX ANALYSIS BY BUSINESS (2/2) WATER : Revenue -1.0% at constant FX to €8 152M Stable volumes (-0,2%) and favorable price effect of +0.7% France : resilient. Volumes +0.8% ytd (flat at June end, followed by a very good summer). Tarif
Slide 53: Appendix 6: Quarterly waste revenue and volumes
APPENDIX 6: QUARTERLY WASTE REVENUE AND VOLUMES Quarterly revenue growth at constant scope & FX 6,1% 4,3% 6,0% 4,1% 5,4% 4,9% 4,2% 4,9% +1,6% 1,2% -0,8% 1,3% -1,0% 5,6% 2,1% 4,9% 0,9% 0,2% -3,4% -14,6% Y-Y Quarterly volume trends 1,6% 0,9% 0,3% 0,2% 1,2% 0,0% 3,1% 3,0% 3,0% 4,9% 4,1% 2,5% 2,6% 1,1%
Slide 54: Appendix 7: Waste breakdown of revenue by activity
APPENDIX 7: WASTE – BREAKDOWN OF REVENUE BY ACTIVITY 2020 12M Revenue : €9 673M 2019 Revenue : €10 167M Municipal collection & Street 9% 13% cleaning 9% 13% Commercial & Industrial collection Sorting & Recycling & MBT 24% 18% 24% 19% Energy recovery (incineration) Landfill 9% 8% Hazardous and Liquid
Slide 55: Appendix 8: Waste revenue vs. industrial production
APPENDIX 8: WASTE – REVENUE VS. INDUSTRIAL PRODUCTION Weighted average industrial production indices for 4 key countries including SARP/SARPI: France, U.K. (excl. PFIs), Germany, and North America (excl. US Solid Waste and WTE) Sources: Until December 2020 Data from OECD for the US and until Novembe
Slide 56: Appendix 9: Recycled paper market prices (1/2)
APPENDIX 9: RECYCLED PAPER : MARKET PRICES (1/2) 12M 2020 Results 56
Slide 57: Appendix 9: Evolution of raw materials prices (2/2)
APPENDIX 9: WASTE – EVOLUTION OF RAW MATERIALS PRICES (PAPER & CARDBOARD) (2/2) 12M 2020 Results 57
Slide 58: Appendix 10: Statement of cash flows
APPENDIX 10: STATEMENT OF CASH FLOWS In €M 2019 2020 EBITDA(1) 4 022 3 641 Net industrial investments -2 201 -2151 WCR variation +209 +233 Dividends received +98 +75 Renewal expenses -280 -261 Restructuring and other non current charges -155 -229 Operating Free Cash Flow 1 693 1 308 Taxes paid -242
Slide 59: Appendix 11: Net industrial investments by segment
APPENDIX 11: NET INDUSTRIAL INVESTMENTS BY SEGMENT Maintenance including IFRS 16 Contractual Discretionary Of which new TOTAL Net net of Ind Capex Growth Capex OFAs CAPEX 2019 (in €M) divestments France 219 203 15 89 437 Europe excluding France 378 270 102 52 750 Rest of the World 271 226 231 35 728
Slide 60: Appendix 12: Net financing rate
APPENDIX 12: NET FINANCING RATE 2019 2020 In €M o Cost of net financial debt down by €26M due the decreased cost of euro denominated debt management (+2m€), Average gross debt (1) 14 736 17 119 combined with huge savings in cost of non euro-denominated debt linked to volume effect and favorable rate
Slide 61: Appendix 13: Debt management
APPENDIX 13: DEBT MANAGEMENT Group liquidity : €10.7bn including €4.0bn in undrawn confirmed credit lines (without disruptive covenants) Net Group liquidity: €2.9bn Average maturity of net financial debt: 7.6 years at 31/12/20 vs. 6.9 years at 31/12/19 Currency breakdown of gross debt (after N
Slide 62: Appendix 14: Debt profile
APPENDIX 14: DEBT PROFILE (AT DECEMBER 31, 2020) RATING • Moody’s : P-2/ Baa1 • stable outlook • Standard & Poor’s : A-2 / BBB stable outlook 12M 2020 Results 62
Slide 63: Appendix 15: Net liquidity
APPENDIX 15: NET LIQUIDITY December 2019 December 2020 Syndicated credit lines 3 000.0 3 000.0 Bilateral credit lines 1 100.0 1 000.0 Lines of credit 86.8 21.6 Cash and cash equivalents(1) 5 092.6 5 542.2 Total Veolia 9 279.4 9 563.8 Subsidiaries Cash and cash equivalents 1 218.4 1 132.9 Total Subsi
Slide 64: Appendix 16: Consolidated statement of financial position
APPENDIX 16: CONSOLIDATED STATEMENT OF FINANCIAL POSITION December 2019 December 2020 Intangible Assets 10 018 10 805 Property, Plant & Equipment 7 680 8 217 Other non-current assets 4 964 7 524 Operating financial assets (current and non-current) 1 517 1 371 Cash and cash equivalents 5 843 5 840 Ot
Slide 65: Contacts
CONTACTS Analyst & Investor Relations Media Relations Ronald Wasylec Deputy CFO, Senior Vice President, Investor Relations Laurent Obadia Telephone : +33 1 85 57 84 76 Telephone : +33 1 85 57 89 43 e-mail : [email protected] e-mail: [email protected] Ariane de Lamaze Vice President,