Veolia Environnement issues profit warning

The French environmental services company Veolia Environnement will propose asset impairments and write-downs totalling ca. €800 million in its half-year report due to be published on 4 August, the company announced on Friday in Paris. According to Veolia, the decision was taken against the backdrop of recent business developments in Italy, North Africa and North America, where a particular activity of the Environmental Services division was affected. The company, however, did not provide any further information regarding the business activities in question. Veolia had launched an operational restructuring programme a few months ago and wants to speed up the process now. Among others, the French corporation has already sold its Norwegian waste business and is planning to sell its Belgian non-hazardous waste operations, too. Veolia's transport division was merged with the public transport company Transdev in March this year.