A rumour has been circulating recently: Amendis is allegedly on the verge of ending its delegated management contract for sanitation services and the distribution of drinking water and electricity in Tangier.

Some rumours have not hesitated to suggest that the Veolia subsidiary has already begun the steps allowing it to offload its commitments, as was the case for Redal, which withdrew from the delegated management of sanitation, drinking water and electricity distribution services, as well as urban transport and waste management in Rabat.

The same rumours predict that the management of the sector will be delegated, after the departure of Amendis, to a British company managed by Emirati investors.

Indeed, since last April, several concordant reports have revealed that the French group, mired in financial problems, is on the verge of handing over its place to the English investment fund Actis. And that the operation is only waiting for the agreement of the competent authorities to be finalised.

Information that Amendis-Tangier has denied. According to certain sources within the company's management, these rumours are unfounded. "No information concerning this subject has reached us so far," a source from Amendis-Tangier told us under the seal of anonymity.

The same tune from several city councillors who confirmed to us that they lacked data on this possible departure of Amendis. "We have no information on the subject. Even within the City Council, the subject has never been discussed," an alderman of the city affirmed to us. "If the company is about to leave, I think we would be the first to know. But until today, nothing seems to augur this departure," another alderman specified to us.

However, whatever the assertions of one and all, experts are unanimous in noting that Veolia has indeed begun a restructuring strategy with the objective of refocusing its activities at the European level. As proof, its withdrawal from Egypt and other Middle Eastern countries and other zones.

Indeed, the Veolia group is trying to refocus its activities around three main pillars, which are water, waste, and energy services, in order to reduce its debt. For while Veolia's turnover remained globally stable at 35 billion euros between 2008 and 2010 before falling to 29.6 billion euros in 2011, the first quarter of 2012 recorded a decline that is continuing, with turnover losing 4.1% year-on-year to 7.826 billion, with a recurring net operating result of 543.5 million euros in the first quarter of 2012, i.e., a decrease of 12.1% at constant exchange rates.

In terms of ratios, debt jumped by 11.1% in 2011, reaching 155.06. The operating margin lost nearly 50% to 3.43, and the financial profitability went from 8 in 2010 to -3.22 in 2011.