LONDON (ShareCast) - Veolia Environnmement presented its strategic plan and financial targets during its Investors Day being held today.

Worth highlighting, the French utilities group announced its intention to eliminate its mass-transit business line and focus on its water, waste and energy services divisions. In this manner, the company plans to trim its debt and accelerate the restructuring plan which it unveiled in early August.

Veolia also states that it will sell its regulated water operations in the United Kingdom and solid waste operations in the United States.

Furthermore, the group will dispose of €5bn in assets over the next two years in order to reduce its levels of net debt, which stood at €15bn at the close of September 2011, to €12bn by the end of 2013.

Veolia expects to attain operating earnings of €120m in 2013, €220m in 2014 and €420m in 2015.

By its estimates the announced measures will allow the company to achieve an annual organic growth rate of more than 3% as of 2013.

The French company also plans to maintain its dividend payout at €0.70 per share in 2012 and 2013.

At 9:46AM shares of Veolia were up 2.5% to €9.78.

MJJ

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE