VEOEY - Veolia's Regulated Businesses Survive Inflation

• Inflation is the flavour of the day, and with easing being the top mandate for the Fed, the ECB is likely to follow even if to a lesser extent.
• Ultimately Europe is more dependent on more artisanal businesses, and there has been so many small-scale bankruptcies that stimulus will be required.
• You'd think regulated businesses suffer in an inflationary environment, but they actually don't thanks to the mechanisms of regulatory WACC.
• Veolia's substantial regulated exposures in water, waste and heating should be fine despite inflationary pressures.

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