Chiffres clés au 31 mars 2012 - Conférence téléphonique du 4 mai 2012
Main H1 2011 re‐presented figures IFRS 5
1. Main H1 2011 re‐presented figures IFRS5(1)
H1 2011
H1 2011 Re‐presented
(€M) published (1)
Revenue 16,286.7 14,303.9
Adjusted operating Cash Flow 1,740.8 1,532.4
Adjusted operating income 937.8 855.6
Operating income (2) 252.2 179.9
Adjusted net income, Group share 188.1 149.5
Free Cash Flow (3) 155.0 155.0
(1) To ensure the comparability of period, the 2011 financial statements have been re‐presented to include:
‐ the impact of the reclassification into “net income from discontinued operations” of operations in the process of being sold such as the whole Veolia Transdev
income (from March 3rd to June 30th 2011) except the activities of the group Société Nationale Maritime Corse Méditerranée (SNCM), the Citelum activities in the
Energy Services division and Solid waste activities in the United States in the Environmental Services division;
‐ the impact of the reclassification into “net income from discontinued operations” of divested activities such as Habitat Services (“Proxiserve”) activities in the
Water and Energy Services division and the regulated activities in the United Kingdom in the Water division;
‐ the impact of the reclassification into ‘continuing operations’ of the “Pinellas” incineration activities within the Montenay International entities in the United
States in the Environmental Services division, whose divesture process was interrupted in the second semester of 2011.
For the record, the Transportation Division as a whole (from January 1st to March 3rd, 2011) was reclassified into “net income from discontinued operations” since
June 30th 2011.
(2) Non recurring items include impairment losses on goodwill recorded in respect of Company subsidiaries as of June 30,2011 in Southern Europe and the United
States and Impairment losses on non‐current assets recorded in the respect of Company subsidiaries mainly in Italy.
(3) Free Cash Flow represents cash generated (sum of operating cash flow before changes in working capital and principal payments on operating financial assets) net
of the cash component of the following items: (i) changes in working capital for operations, (ii) operations involving equity (share capital movements, dividends
paid and received), (iii) investments net of disposals (including the change in receivables and other financial assets), (iv) net financial interest paid and (v) tax paid .
03/07/2012 Direction des Relations Investisseurs et Actionnaires 1