VEOLIA : Oddo BHF remains positive after results
'2023 confirms the continuation of the group's growth profile. We consider the strategic framework to be prudent in terms of EBITDA TMVA, in a context of demand for environmental services, and in line with our estimates", says the analyst.
The research firm also considers that the current valuation is still an obvious entry point, with 2024/26 EV/EBITDA ratios at a 29.4% discount to the historical average (8.1 times).
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