1. Main 9M 2011 re‐presented figures IFRS 5 (1)
In €M 9M 2011 9M 2011
published Re‐presented (1 )
Revenue 23,963.4 20,913.4
Adjusted operating Cash Flow 2,391.2 2,076.9
Adjusted operating income 1,250.9 1,118.1
Operating income (2) 568.0 446.1
Free Cash Flow (3) +58.0 +58.0
(1) To ensure the comparability of period, the first nine months 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 September 30th 2011) except the activities of the group Société Nationale Maritime Corse Méditerranée (SNCM), Solid waste
activities in the United States in the Environmental Services division and the Citelum ativities in the Energy Services division;
‐ the impact of the reclassification into “net income from discontinued operations” of divested activities such as 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, as of September 30,2011, the Transportation Division as a whole (from January 1st to March 3rd, 2011) was reclassified into “net income from
discontinued operations” .
(2) Non recurring items include impairment losses on goodwill recorded in respect of Company subsidiaries as of September 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
.
Direction des Relations Investisseurs et Actionnaires
