Key Figures for the period ending March 31st, 2018 · March 31st, 2018 1Q 2018 key figures VEOLIA...

Key Figures for the period endingMarch 31st, 2018

Conference call May 3, 2018

Disclaimer

2

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 performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including but not limited to: the risk of suffering reduced profits or losses as a result of intense competition, the risk that changes in energy prices and taxes may reduce Veolia Environnement’s profits, the risk that governmental authorities could terminate or modify some of Veolia Environnement’s contracts, the risk that acquisitions may not provide the benefits that Veolia Environnement hopes to achieve, the risks related to customary provisions of divesture transactions, the risk that Veolia Environnement’s compliance with environmental laws may become more costly in the future, the risk that currency exchange rate fluctuations may negatively affect Veolia Environnement’s financial results and the price of its shares, the risk that Veolia Environnement may incur environmental liability in connection with its past, present and future operations, as well as the other risks described in the documents Veolia Environnement has filed with the Autorités des Marchés Financiers (French securities regulator). Veolia Environnement does not undertake, nor does it have, any obligation to provide updates or to revise any forward-looking statements. Investors and security holders may obtain from Veolia Environnement a free copy of documents it filed (www.veolia.com) with the Autorités des Marchés Financiers.

This document contains "non‐GAAP financial measures". These "non‐GAAP financial measures" might be defined differently from similar financial measures made public by other groups and should not replace GAAP financial measures prepared pursuant to IFRS standards.

Unaudited key figures

VEOLIA KEY FIGURES MARCH 31, 2018

Highlights

1Q 2018 key figures

3VEOLIA KEY FIGURES MARCH 31, 2018

1Q 2018 Key Takeaways : A good Start to the YearDelivering on our Growth Ambitions

4

o Very solid 1Q 2018 Results

o Revenue Growth well above expectations : +7.0% at constant F X(1)

and +5.4% like for like

o Strong EBITDA Growth : +5.3% at constant FX (2)

o Current Net income of €193M, up +31.8% at constant FX and +8%excluding capital gains

o FY 2018 Guidance fully Confirmed

(1) Revenue up +5.6% at constant FX including the loss of Gabon (as if not discontinued)(2) EBITDA up +3.3% at constant FX including the loss of Gabon (as if not discontinued)


Accelerated revenue growth : +7.0% at constant FX (1) to €6,419M6th quarter in a row of strong growth

Organic growth of +5.4% after +3.5% in 2017

Robust commercial momentum and good waste volumesLimited impact of recycled prices (impact of -0.3% on revenue)

French Water improving again with better tariff indexation and satisfactory contract renegotiations (inWater and Waste)

Sustained growth in Europe

Double digit growth in Rest of World

Strong results performance : EBITDA up 5.3% at constant FX to €876M(2) driven byRevenue growth and Efficiency gainso Current EBIT +6.9% YTD at constant FX to €448Mo Current net income of €193M, up 31.8% at constant FX and +8% excluding capital gainso Net financial debt of €8,213M and €9,665M including hybrid to be repaid

1Q 2018 Key Takeaways : A good Start to the YearDelivering on our Growth Ambitions


(1) Revenue up +5.6% at constant FX including the loss of Gabon (as if not discontinued)(2) EBITDA up +3.3% at constant FX including the loss of Gabon (as if not discontinued)

Difficult pollutionsToxic Waste, Industrial waste water, illicit landfills

Circular EconomyPlastic Recycling, chemical products, irrigation, fish farming

Energy Management : Clean, Renewable, EfficientWaste to Energy, Biogas, RDF, Biomass, capture of methane

Ambitious citiesResilient, livable, inclusive, smart

Strong growth in Veolia new businesses


Contribution of new businesseso 30% of Total Revenueo More than 50% of Revenue Growth

Sustained pace of cost savings: €70M achieved as of March 2018, on track with annual objective

7

25%

28%20%

15%

12%France

Europe

excluding France

Rest of the

World

Global

Businesses

HQ

33%

47%

20%Purchasing

Operations

SG&A

Impact on EBITDA(in €M)

2016 20172018 target

1Q 2017

1Q 2018

Cost savings 245 255 300 63 70

2016-2018 Revised target

800


2018-2019 outlook

8

(1) At constant exchange rates (based on rates at the end of 2016)

� 2018 objectives (at constant exchange rates): �Continuation of sustained revenue growth�EBITDA growth greater than that of 2017�More than €300M in cost savings

� 2019 objectives (1): �Continuation of revenue growth and full impact of c ost savings�EBITDA between €3.3Bn and €3.5Bn (excluding IFRIC 1 2), i.e. between €3.5Bn

and €3.7Bn including IFRIC 12

� Dividend growth in line with that of current net in come






Key figures for the period ended

March 31st, 2018

1Q 2018 key figures


Strong 1Q 2018 performance driven by continued soli d revenue growth and EBITDA growth

In €M 1Q 2017 published

1Q2017 represented for IFRS 5 &

IFRS9(1)

1Q 2018Var. Y-Y

vs. 1Q2017 represented

∆ constant FX vs.

1Q2017 represented

∆ constant FX vs.

1Q2017 incl. Gabon

Revenue 6,270 6,191 6,419 +3.7% +7.0%(2) +5.6%

EBITDA 863 847 876 +3.4% +5.3% +3.3%

EBITDA margin 13.8% 13.7% 13.6%

Current EBIT (3) 431 428 448 +4.8% +6.9% +6.4%

Current Net Income – Group share 155 154 193 +25.7% +31.8 % +31.4%

Current Net Income – Group shareexcluding capital gains

156 155 164 +5.7% +8.0% +7.6%

Gross industrial Capex 271 263 307

Net FCF(4) -391 -393 -398

Net financial debt 8,430 8,418 8,213

Net financial debt including hybrid 9,882 9,870 9,665

Summary of FX impacts(vs. 1Q2017)

€M %

Revenue -204 -3.3%

EBITDA -16 -1.8%

Current EBIT -9 -2.2%

Current Net Income -9 -6.0%

Net debt vs. Dec.2017 -45 -0.5%

Net debt vs. March 2017 -386 -4.6%

(1) See Appendix 1(2) +5.4% at constant scope and forex(3) Including the share of current net income of joint ventures and associates of entities viewed as core Company activities

(excluding Transdev which is no longer considered a core Group activity).(4) Net free cash flow corresponds to the free cash flow of continuing operations, i.e. the sum of EBITDA, dividends

received, operating cash flow from financing activities, and the variation of operating working capital, less net industrial investments, net interest expense, tax expense, restructuring charges, other non current expenses and renewal expenses.


Operations in Gabon discontinued from Jan. 2017 (IF RS 5)1Q 2017 : Revenues €79M - EBITDA €16M – Current EBIT €2M – Cur rent net income €0.5M

Continued very strong revenue growth in 1Q 2018: +7 .0% at constant FX (and +5.4% lfl) driven by International

11

2017 2018

∆ at constant FX Q1 Q2 Q3 Q4 Year Q1

France -1.5% -0.4% -0.3% +1.9% -0.1% +0.6%

Europe excl. France +7.2% +4.4% +8.1% +6.1% +6.4% +6.9%

Rest of the World +11.8% +10.8% +9.4% +14.2% +11.6% +14.7%

Global Businesses -3.2% +1.7% -2.7% +1.9% -0.4% +3.5%

TOTAL +4.5% +4.4% +4.3% +6.3% +4.9% +7.0%

Total excl. Construction & Energy prices

+5.9% +4.1% +4.7% +5.0% +4.9% +4.6%

EBITDA growth +0.9% -0.2% +4.8% +5.2% +2.7% +5.3%

o Dynamics remain favorable: � Continued improvement in French Water � Acceleration of growth outside of France, particularly in the Rest of the World� Improvement in Global Businesses, despite a slow start of the year at VWT (but with a backlog up 10% QoQ): strong

hazardous waste and multi utility industrial activity


1,303 1,311

2,275 2,443

1,5691,612

1,0371,045

1Q2017represented

1Q2018

6,191(1) 6,419(1)

Continued very strong revenue growth in 1Q 2018: +7 .0% at constant FX (and +5.4% lfl) driven by International

12

REVENUE IN €M

Variations vs. 1Q2017 Δ Δ at constant FX

France +0.6% +0.6%

Europe excluding France +7.4% +6.9%

Rest of the World +2.8% +14.7%

Global Businesses +0.9% +3.5%

Total +3.7% +7.0%

(1) Including Other: represented €7M in 1Q2017 and €8M in 1Q2018(2) At constant Forex


� France: +0.6%: +2% in Water & Waste up 2% excluding impact of r ecycled materials prices� WATER: Revenue up 2.2% : better price indexation (+0.6% vs. -0.3% in Q1, 2017) and net positive commercial

effects (still a bit negative in Q1, 2017) more than offset lower volumes (-0.8%)� WASTE: Revenue down 0.9% at constant scope due to lower recycled prices (impact -3.5% on revenue).

Continued good volumes (+2.3%), notably landfills and commercial collection.

� Europe excluding France: Growth of 6.9% at constant FX: Good performance in all regions� UK/IRELAND : Revenue +4.0% (2) to €518M due to excellent plant operational performance of PFIs (98%

availability vs. 95% in March 2017), higher electricity prices, and continued solid commercial activity. Overall limitedYTD price impact of recyclates, lower fiber prices offset by other materials

� NORTHERN EUROPE: Revenue +11.8% to €702M : mostly impact of 2017 tuck-ins in Nordics, Netherlands andGermany in Recycling and Industrial Waste – Germany +4% : negative impact of paper price decline (-€6M)partially offset by plastics; higher energy prices compensated by mixed volumes (no positive weather impact)

� CENTRAL & EASTERN EUROPE: Revenue +6.3% (2) to €946M due to strong E NERGY REVENUE: higher volumes andprices driven by cold weather – Small acquisitions in WASTE - Price increases in WATER

� Rest of the World: Growth of 14.7% at constant FX: Strong grow th in all geographies� NORTH AMERICA: Revenue +10.1% (2) to €505M and +19% organic (divestiture of IS closed on Feb 23) : very

strong growth in Energy (+41% (2)) due to cold weather (higher heat and electricity prices and volumes) ;numerous contract wins in energy efficiency (Du Pont contract) , industrial water and hazardous waste

� Strong growth in L ATIN AMERICA (Revenue +22.5% (2) to €183M): tariff increases & new contracts� ASIA (Revenue +21.1% at constant FX to €453M) o/w +14.7% in China (strong waste volumes, haz. waste and

landfills), DHN extensions in Harbin, new industrial contracts� Confirmed growth in A USTRALIA -NZ (+13.1%(2) to €252M): new assets in Waste (Woodlawn MBT) and

construction of Springale WW treatment plant

� Global Businesses: +3.5% at constant FX : Strong hazardous waste offset by weak construction� CONSTRUCTION: -2.4%(2) : VWT revenue down due to late bookings in 2017, but backlog is 10% higher than

1Q2017– SADE up yoy: continued strong growth in France and pursuit of restructuring international� HAZARDOUS WASTE: +7.6%(2) : good start to the year in all activities despite adverse weather

Continued very strong revenue growth in 1Q 2018: +7.0% at constant FX (and +5.4% lfl)

FX & SCOPE: FX -€204M: mostly $ related - SCOPE : +€95M o/w 2017 tuck-in impact (Recycling and Industrial Waste in Sweden and in Germany, Energy

Services in Korea…) partly offset by the divestiture of industrial Services in the US closed in Feb. 2018 (-€41M impact in 1Q, 2018)

ENERGY & RECYCLATE PRICES : +€50M :

Recyclate impact:-€20M : o/w Paper Prices -€26M (prices down 20 % in Q1 with market prices down 37% in France and Germany (see slide 15))

partially offset by Plastic prices (avg selling price +5% YOY in our key countries)

Energy Prices : +€70M mostly in the US

FAVORABLE VOLUMES & COMMERCE IMPACTS :+€212M

Volumes +€148M : Continued growth of waste volumes in Europe and ROW, and strong Hazardous waste – Solid construction activity, in ROW mostly

(Asia, Pacific, Middle East) , slow start of the year at VWT but good activity of Sade in France

Weather: +€17M in CEE & US

Commerce : +€47M mostly in the US, Latam, Asia and Toxic waste.

PRICE EFFECTS: +€47M : mostly Asia, Latam (waste) , CEE (increase in water tariffs) 13VEOLIA KEY FIGURES MARCH 31, 2018

Like-for-like growth : +5.4%

in €M

Solid growth in Waste: +9.6% at constant FX (+4.3% like-for-like) : Continued strong volume momentum partly offset by r ecyclateprices

14

France : Revenue down 0.9% at constant scope to €598M :Good volume trends notably in landfills and commercial collectionRecycled raw materials impact: -3.5%

UK/Ireland: Revenue up 4.5% at constant FX to €428M

VOLUME/ COMMERCE: Continued benefit from contract wins, excellent PFI performance (availability rate of 98%) and main wastelandfilled volumes still up

Germany revenue up 9.3% to €272M

North America : Revenue up 7.2% at constant scope and FX to €190M : good volumes and prices at RGS and strong Hazardous waste- IS divested since Feb. 2018

Pacific revenue up 8.9% at constant FX to €185M: pursuit of recovery, with the benefit of the Woodlown MBT new facility and goodvolumes


1Q 2018

Recycled raw materials prices -0.8%

Volumes / activity levels +3.0%

Service price increases +1.1%

Other +1.0%

Growth at constant scope & exchange rates +4.3%

Scope effect +5.3%

Growth at constant exchange rates +9.6%

Currency effect -4.4%

A limited recyclate paper impact

o Chinese ban : Sharp decline of Paper and cardboard prices due to a higher selection of paper grades since January 2018.o Temporary oversupply in Europe => pressure on priceso China has released new import quotas in April

o Limited Veolia exposureo Limited export volumes to Chinao Our recycled papers comply with Chinese criteria

o Q1, 2018 impact o Average market price decline (France(1) & Germany(2)) of 37%o Average Veolia selling price decline of 20%o Revenue impact : -€26M (o/w 2/3 in France)o EBITDA impact : -€5M


(1) Average French Copacel paper price of €81.6/T vs. € 129.6€/T in 1Q2017 (-37%) – Average 2017 price of €126/T(2) Average German EUWID paper price of €42.8/T vs. € 68.8€/T in 1Q2017 (-38%) – Average 2017 price of €75.7/T

9,040

1,023495 200

Breakdown of Waste Revenues (2017, in €M)

o/w Sorting & Recycling (Services)

o/w Sale of Recycled Papers

Other Recyclates

… Recycled paper account for less than 2% of the Gro up’s Revenue and less of the Group’s EBITDA*…

*In 2017

Strong EBITDA Growth driven by Revenue Growth and Efficiency gains

16

EBITDA up +5.3% at constant FX to €876M


� France: Sustained performance improvement offset by negat ive impact of lower paper prices inWaste

� WATER: EBITDA up, driven by good revenue evolution & Efficiency gains� WASTE: EBITDA down due to paper prices decrease

� Rest of Europe: good operational performance offset by tran sitory price cost squeeze in energy� CENTRAL & EASTERN EUROPE: EBITDA down due to higher fuel cost (temporary pinching due mostly to higher fuel

prices) partly offset by efficiency gains and small but favorable weather impact .� UK: EBITDA sharply up : impact of new contracts, excellent operational efficiency� NORTHERN EUROPE: Double digit growth : mostly 2017 scope and continued efficiency gains

� Continued strong growth in the Rest of the World� Continued double digit growth in A SIA driven by revenue expansion� LATIN AMERICA: EBITDA growth due to good commercial activity and continued cost cutting� The PACIFIC region improved significantly : new industrial investments and good volumes in waste� NORTH AMERICA: EBITDA strongly up : favorable weather in Energy driving energy prices, spark spreads and

volumes.

� Global Businesses: Strong hazardous waste offset by slow sta rt of the year at VWT

Strong EBITDA Growth driven by Revenue Growth and Efficiency gains

� FX & SCOPE: FX -€16M (mostly $) - SCOPE : +€17M mostly 2017 tuck-ins (Recycling and Industrial Waste in Sweden and in Germany etc.)

� COMMERCE/VOLUMES : +€19M

Continued growth in waste Volumes

Weather: +€3M impact : favorable in the US mostly, and in CEE, partly offset by China

Commerce : robust momentum

� ENERGY & RECYCLATE PRICES : -€13M : ENERGY : temporary pinching in CEE due to higher coal prices offset in the US by cold weather driving prices

& spark spreads – WASTE : negative impact of paper prices compensated by plastics and sulfuric acid price (US)

� PRICE COST SQUEEZE : -€28M : higher indexation of water & waste contracts but continued pressure on salary increases and other costs

� VERY FAVORABLE IMPACT FROM COST REDUCTIONS : +€70M 17

EBITDA up 5.3% YTD at constant FX to €876M


in €M

Current EBIT: +6.9% at constant FX

18

In €M 1Q2017

1Q2017 represented

1Q2018 Δ vs. 1Q2017 represented

Δ vs. 1Q2017 at constant

FX

EBITDA 863 847 876 +3.4% +5.3%

Renewal expenses -67 -66 -69

Depreciation & Amortization (including principal payments on OFAs)

-416 -403 -397

Provisions, fair value adjustment & other(1) +51 +50 +38

Current EBIT 431 428 448 +4.8% +6.9%

(1) Other include : share of current net income of joint ventures and associates and industrial capital gains .Provisions : net reversals for self insurance of +€12M in 1Q2017


o Cost of net financial debt down from -€103M to -€96 M (benefits from active debt management)

o Significantly lower other financial expense of -€7 M (vs. -€40M) due to a higher contribution of net f inancial capital

gains (+€29M after tax, mostly from the divestiture of Industrial Services in the US) . They also include charges related to

the unwinding of the discount on provisions (-€8M) & IFRIC12 interest on operating assets (-€23M)

o Minority Interests of -€64M (vs. -€63M), mostly in CEE in 1Q (energy business)

o Current tax rate of 28%

Current net income up 31.8% at constant FX and +8.0% excluding capital gains

19

(1) at constant forex(2) at constant forex and excluding capital gains


155 164

-1

29

1Q 2017 represented 1Q 2018

Net Cap. Gains after tax Current Net Income excl. Capital gains

154193

+8.0%(2)

+31.8%(1)in €M

Net FCF excluding WCR seasonality of +€402M in 1Q20 18

20

o Net FCF(1) of -€398M vs. -€393M in 1Q2017� Excluding seasonal WCR variation (-€800M), net FCF

amounted to +€402M in 1Q2018

o Gross industrial capex up 17%, in line with commerci al development

o Net financial debt of €9,665M, and €8,213M excludin g hybrid

� Down vs March 2017 (up €181M excl. favorable FX of €386M: due to €280M net financial acquisitions from March 2017 to March 2018)

� Up vs. December 2017 due to impact of WCR seasonality

(1) Net free cash flow corresponds to the free cash flow of continuing operations, i.e. the sum of EBITDA, dividends received, operating cash flow from financing activities, and the variation of operating working capital, less net industrial investments, net interest expense, tax expense, restructuring charges, other non current expenses and renewal expenses.

234 275

2932

1Q2017 repr. 1Q2018Discretionary growth capex Maintenance and contractual capex

263 307


in €M

in €M

in €M

2018-2019 outlook

21

(1) At constant exchange rates (based on rates at the end of 2016)










Appendix

Appendix 1: Main represented figures (1) for the quarter ended March 31, 2017

23VEOLIA – Main represented figures for the quarter ended March 31, 2017

(1) Non audited figures

(2) Including the represented share of current net income of joint ventures and associates for the three months-ended March 31, 2017

(3) In order to ensure the comparability of periods, the accounts ending September 30, 2016 have been represented for the reclassification of the Group’s activities in Gabon into “Net income (loss) from discontinued operations” in accordance with the application of the IFRS 5 standard.

March 2017IFRS 5

Adjustment

IFRS 9

AdjustmentMarch 2017

published represented

Revenue 6 269,8 -78,6 0,0 6 191,2

EBITDA 862,9 -15,8 -0,5 846,6

Current EBIT (2) 430,5 -2,3 -0,5 427,7

Operating income 420,6 -2,3 -0,5 417,9

Current net income - Group share 154,7 -0,5 -0,6 153,7

Gross industrial investments -271 8 0 -263

Net free cash flow -391 -2 0 -393

Net financial debt -8 430 4 8 -8 418

In €m (3)

Appendix 1: Main represented figures for the full year ended March 31, 2017 (1) - Revenue by segment

24

(1) Non audited figures

VEOLIA – Main represented figures for the quarter ended March 31, 2017

March 2017IFRS 5

Adjustment

IFRS 9

AdjustmentMarch 2017

published represented

France 1 302,9 0,0 0,0 1 302,9

Europe excluding France 2 274,6 0,0 0,0 2 274,6

Rest of the World 1 647,9 -78,6 0,0 1 569,4

Global businesses 1 036,6 0,0 0,0 1 036,6

Other 7,7 0,0 0,0 7,7

Revenue 6 269,8 -78,6 0,0 6 191,2

In €m

Appendix 1: IFRS 9 – Financial Instruments

25VEOLIA – Main represented figures for the quarter ended March 31, 2017

o As of January 1, 2018, the Group is applying the new IFRS 9 standard concerning financial instruments, replacingthe application of former standards IAS 39. The new standard, IFRS 9, provides for a retroactive application ofthe classification and evaluation of financial assets and liabilities. Particularly for the Group, it also calls for newmethodologies regarding the provisioning of trade receivables and a regularization of the amortized cost of bondswhich have been re-negociated.

o In the P & L , these restatements related to this new standard resulted in only insignificant impacts on EBITDAand current EBIT .

Appendix 2: Currency movements

26

Main currencies

1 € = xxx foreign currency 1Q 2018 1Q 2017 ∆ 1Q2018 vs. 1Q2017

US dollarAverage rateClosing rate

1.2291.232

1.0651.069

13.4%13.2%

UK pound sterlingAverage rateClosing rate

0.8830.875

0.8600.856

2.6%2.2%

Australian dollarAverage rateClosing rate

1.5641.604

1.4061.398

10.1%12.8%

Chinese renminbi yuanAverage rateClosing rate

7.8117.728

7.3127.350

6.4%4.9%

Czech crownAverage rateClosing rate

25.40125.425

27.02127.030

-6.4%-6.3%

The average rate applies to the income statement and the cash flow statementThe closing rate applies to the balance sheet


Appendix 3: Quarterly revenue by segment

27

1st quarter 2 nd quarter 3 rd quarter

In €M

2016represented

2017

∆ at cst FX ∆ at cstscope &

FX 2016represented

2017


FX 2016represented

2017


FX

France 1,323 1,303 -1.5% +0.6% 1,365 1,360 -0.4% +2.2% 1,377 1,373 -0.3% +0.9%

Europe excl. France 2,172 2,275 +7.2% +6.2% 1,911 1,959 +4.4% +2.4% 1,748 1,870 +8.1% +5.8%

Rest of the World 1,426 1,648 +11.8% +6.0% 1,407 1,580 +10.8% +4.7% 1,514 1,588 +9.4% +5.0%

Global Businesses 1,068 1,037 -3.2% -4.2% 1,151 1,167 +1.7% +3.4% 1,086 1,036 -2.7% -0.7%

Other 6 7 Ns Ns 6 11 Ns Ns 8 7 Ns Ns

Group 5,995 6,270 +4.5% +3.1% 5,840 6,077 +4.4% +3.2% 5,734 5,875 +4.3% +3.1%

4th quarter Full year 1 st quarter

In €M

2016 represented

2017

∆ at cst FX ∆ at cstscope & FX

2016represented

2017

∆ at cstFX

∆ at cstscope &

FX 2017represented

2018


FX

France 1,352 1,378 +1.9% +3.3% 5,418 5,415 -0.1% +1.8% 1,303 1,311 +0.6% +0.7%

Europe excl. France 2,252 2,401 +6.1% +1.6% 8,083 8,504 +6.4% +3.9% 2,275 2,443 +6.9% +3.3%

Rest of the World 1,682 1,803 +14.2% +10.5% 6,028 6,619 +11.6% +6.7% 1,569 1,612 +14.7% +14.4%

Global Businesses 1,322 1,318 +1.9% +3.3% 4,626 4,558 -0.4% +0.6% 1,037 1,045 +3.5% +2.6%

Other 11 4 Ns Ns 32 29 -8.8% -8.8% 7 8 - -

Group 6,618 6,904 +6.3% +4.4% 24,187 25,125 +4.9% +3.5% 6,191 6,419 +7.0% +5.4%


Appendix 4: Quarterly revenue by business


1st quarter 2 nd quarter 3 rd quarter

In €M2016

represented2017

∆ at cstFX

∆ at cstscope &

FX2016

represented2017


FX2016

represented2017


FX

Water 2,635 2,632 -0.9% -0.9% 2,701 2,783 +2.8% +3.2% 2,700 2,643 -0.2% +0.1%

Waste 2,014 2,155 +8.1% +5.6% 2,160 2,224 +4.4% +2.1% 2,143 2,263 +7.8% +4.9%

Energy 1,346 1,483 +9.7% +7.1% 979 1,070 +8.5% +5.6% 891 968 +10.0% +8.0%

Group 5,995 6,270 +4.5% +3.1% 5,840 6,077 +4.4% +3.2% 5,734 5,875 +4.3% +3.1%

4th quarter Full year 1 st quarter

In €M2016

represented2017

∆ at cstFX

∆ at cstscope &

FX2016

represented2017

∆ at cstFX

∆ at cstscope &

FX2017

represented2018

∆ at cstFX

∆ at cstscope &

FX

Water 2,993 3,055 +4.3% +4.6% 11,029 11,114 +1.6% +1.8% 2,554 2,562 +3.5% +3.8%

Waste 2,194 2,398 +12.0% +6.1% 8,510 9,040 +8.1% +4.7% 2,155 2,268 +9.6% +4.3%

Energy 1,432 1,450 +1.9% +1.5% 4,648 4,971 +7.1% +5.2% 1,483 1,589 +9.0% +9.9%

Group 6,618 6,904 +6.3% +4.4% 24,187 25,125 +4.9% +3.5% 6,191 6,419 +7.0% +5.4%

1,483 1,589

2,154 2,268

2,5542,562

1Q2017represented

1Q2018

Appendix 5: Continued rebound in revenue: up 7.0% a t constant FX to €6,419M : Analysis by business

29

REVENUE IN €M

6,419

Variations vs. 1Q 2017 represented

∆∆ constant

FX∆ constant FX

& scope

Water +0.3% +3.5% +3.8%

Waste +5.3% +9.6% +4.3%

Energy +7.2% +9.0% +9.9%

Total +3.7% +7.0% +5.4%VEOLIA KEY FIGURES MARCH 31, 2018

6,191

* Including energy prices for BVAG

• Water : +3.5% at constant FX, ( +3.8% at constant scope & FX)� Volumes/commerce: +0.5%o France: volumes down 0.8%; net positive commercial effecto Central Europe: volumes up 0.8% o Continued robust commercial momentum in Rest of the World

� Price effects* (+1.7%) : Indexation of +0.6% in France & higher tariffs in Czech Republic, Roumania & Bulgaria; higher energy prices at BVAG in Germany

� Construction (+1.6%): Solid construction activity, in ROW mostly (Asia, Pacific, Middle East) ; slow start of the year at VWT but good activity of Sade in France

• Strong growth in Waste: +9.6% at constant FX (+4.3% at constant scope & FX) � Scope: +5.3%: acquisitions in Germany, Sweden & Asia in 2017 partly offset in 2018 by the divestiture of Industrial

Services in the US (-€41M)� Strong Volumes & Commerce : +3.0% o Continued growth in volumes: in France, (+2.3%), Rest of World in all regions (USA, Asia, Amlat, Pacific) and in

hazardous wasteo Commerce: strong renewal rate and contract awards (UK, Germany, Hazardous Waste)

� Price effects: +1.1% mainly in Latin America, Asia and the UK� Decrease in recycled prices (-0.8%)

• Rebound in Energy Services : +9.0% at constant FX (+9.9% at constant scope & FX) � Scope: (-0.9 %): divestiture of FM activities in Sweden� Weather impact: +€17M (+1.1%) � Volumes / Commerce: (+2.5%) : higher volumes of energy sold in Central Europe and China, start of new energy

contracts in Canada, new industrial energy efficiency contracts (VIGS)� Price effects (+3.5%) : mostly heat and electricity prices strongly up in the US

Appendix 6: Quarterly waste revenue and volumes

30

Quarterly revenue growth at constant scope & FX

Y-Y Quarterly volume trends


Appendix 7: Waste – Revenue vs. Industrial Productio n

31

Weighted average industrial production indices for 4 key countries including SARP & SARPI : France, UK (excluding PFI), Germany, North America (excluding US Solid Waste

and WTE)

Sources: January and February: OECD for USA & UK, INSEE for France, Eurostat for Germany - March: same index as February for all the countries


Appendix 8: Recyclate paper prices (1/2)


France

Germany

Appendix 8: Recyclate paper prices (2/2)


Long term evolution of paper and cardboard prices (€/T - France)

SUSTAINABLE DEVELOPMENT

2020 roadmap:2017 results

34

SUSTAINABLY MANAGE NATURAL RESOURCES BY SUPPORTING THE CIRCULAR ECONOMY

BUILD NEW MODELS FOR RELATIONS AND VALUE CREATION WITH OUR STAKEHOLDERS

GUARANTEE A HEALTHY AND SAFE WORKING ENVIRONMENT

CONTRIBUTE TO COMBATING CLIMATE CHANGE

CONTRIBUTE TO LOCAL DEVELOPMENT

ENCOURAGE THE PROFESSIONAL DEVELOPMENT AND COMMITMENT OF EACH EMPLOYEE

PROMOTE AN ECO-FRIENDLY APPROACH TO CONSERVE BIODIVERSITY

SUPPLY AND MAINTAIN SERVICES CRUCIAL TO HUMAN HEALTH AND DEVELOPMENT

GUARANTEE RESPECT FOR DIVERSITY AND HUMAN AND FUNDAMENTAL SOCIAL RIGHTS WITHIN THE COMPANY

Our 9 commitments for sustainable development

1

4

7

2

5

8

3

6

9


Our commitments for sustainable development2020 roadmap: 2017 results (1/3)

36

SUSTAINABLY MANAGE NATURAL RESOURCES BY SUPPORTING CIRCULAR ECONOMY

2020 TARGET:

Achieve €3.8 billion in circular economy related revenue.

2017 PERFORMANCE:

€4.4 billion .

2020 TARGET:

. Achieve 100 million metric tons CO2 equivalent of reduced emissions and 50 million metric tons CO2equivalent of avoided emissions for the period spanning from 2015 to 2020.

. Capture over 60% of methane from the landfills we operate.

2017 PERFORMANCE:

. 44 million metric tons CO2equivalent reduced and 18 millionmetric tons CO2 equivalent avoided, since 2015.

. 51% of methane captured.

2020 TARGET:

Carry out a diagnosis and deploy an action plan in 100% of sites with significant biodiversity issues.

2017 PERFORMANCE:

Diagnosis and action planin 54% of the sites identified.

CONTRIBUTE TO COMBATING CLIMATE CHANGE

PROMOTE AN ECO-FRIENDLY APPROACH TO CONSERVE BIODIVERSITY

RESOURCING THE PLANET1 2 3



37

2020 TARGET:

Have entered into a major partnership based on value creation in each zone and each growth segment.

2017 PERFORMANCE:

Examples of major partnerships signed: Danone, IBM, Huawei, Livelihoods, CCSL, Swiss Re .

2020 TARGET:

Maintain above 80% the percentage of Veolia’s spending reinvested locally.

2017 PERFORMANCE:

85.4% (average calculated for the principal areas representing 71% of 2017 revenue).

2020 TARGET:

Contribute to the United Nations sustainable development goals, as we did to the Millennium Development Goals.

2017 PERFORMANCE:

7.9 million people connected to a drinking water supply and more than 3.54million to a sanitation service(1)

BUILD NEW MODELS FOR RELATIONS AND VALUE CREATION WITH OUR STAKEHOLDERS

CONTRIBUTE TO LOCAL DEVELOPMENT

SUPPLY AND MAINTAIN SERVICES CRUCIAL TO HUMAN HEALTH AND DEVELOPMENT

RESOURCING THE REGIONS4 5 6


(1) Since the definition of the Millenium Development Goals in 2000, the Group has helped 7.9 million people (703,535 in the year 2017) in developing and emerging countries to obtain access to drinking water and connected 3.54 million (232,435 in 2017) to sanitation services


38

2020 TARGET:

Achieve an accident at work frequency rate of 6.5 or less.

2017 PERFORMANCE:

Frequency rate: 9.55

(Frequency rate wasreduced from 15.02 in 2011 to 11.02 in 2015)

2020 TARGET:

. Provide training to over 75%of employees every year.

. Maintain management’s commitment rate at over 80%.

2017 PERFORMANCE:

. 72% of employees have undergone training.

. Manager commitment rate: 86%.

2020 TARGET:

Achieve 95% of employees with access to social dialogue devices.

2017 PERFORMANCE:

Over 89% of employees covered by social dialogue arrangements.

GUARANTEE A HEALTHY AND SAFE WORKING ENVIRONMENT

ENCOURAGE THE PROFESSIONAL DEVELOPMENT AND COMMITMENT OF EACH EMPLOYEE

GUARANTEE RESPECT FOR DIVERSITY AND HUMAN AND FUNDAMENTAL SOCIAL RIGHTS WITHIN THE COMPANY

VEOLIA’S PEOPLE7 8 9


Contacts

39

http://www.finance.veolia.com http://www.veolia.com

Analyst & Investor Relations

Ronald Wasylec

Senior Vice President, Investor Relations

Telephone : +33 1 85 57 84 76

e-mail : [email protected]

Ariane de LamazeVice President, Investor Relations

Telephone : +33 1 85 57 84 80

e-mail : [email protected]

30, rue Madeleine Vionnet

93300 Aubervilliers, France

Media Relations

Laurent Obadia

Telephone : +33 1 85 57 89 43

e-mail: [email protected]

Sandrine Guendoul

Telephone : +33 1 85 57 42 16

e-mail: [email protected]

30, rue Madeleine Vionnet

93300 Aubervilliers, France


Key Figures for the period ending March 31st, 2018 · March 31st, 2018 1Q 2018 key figures VEOLIA...

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