CONTINUED STRONG GROWTH IN RESULTS
OBJECTIVES FULLY CONFIRMED
- Solid 9M 2025, in line with our annual guidance
- Sustained Revenue growth, in line with first half, of +3.2%(1) to €32,323M
- Solid operating performance, with an organic growth of EBITDA of +5.4%(2) to €5,080M, fueled by revenue growth, operational efficiency and synergies in line with targets
- Dynamic capital allocation policy creating value, with €2.3bn of net financial investments, including notably acquisitions in Water Technologies and Hazardous Waste
- Leading to Net financial debt(3) well under control at €19,925M and a leverage ratio of 3.0x, in line with our trajectory
- Objectives fully confirmed
KEY FIGURES
Revenue
€32,323M
+3.2% ↑(1)
EBITDA
€5,080M
+5.4% ↑(2)
EBITDA margin
15.7%
+50bps ↑
Current EBIT(3)
€2,737M
+7.9% ↑(2)
Net Financial Debt(3)
€19,925M (6)
REVENUE BY GEOGRAPHY
Estelle Brachlianoff, CEO of the Group, a stated:
“Truly international, Veolia benefits from dynamic global demand, delivering strong performance quarter after quarter and showing sustained profit growth over the first nine months of 2025.
The Group generates 80% of its revenue internationally, and its activity outside Europe(4) has increased by nearly +5%(2) since the beginning of the year and by nearly +7%(2) during the third quarter alone.
The relevance of the priorities of the GreenUp plan is once again confirmed by the very good operational performance of the activities, notably boosters(5), whose EBITDA is sharply growing.
The dynamic and successful capital allocation policy continues, with €2.3bn invested in Water Technologies and Hazardous Waste outside Europe, following divestitures of non-strategic assets the previous year.
This strong performance, in a complex global context, makes us fully confident in achieving our objectives for the year.”
AGENDA
25 November 2025: Thema - Inauguration of Poznan cogeneration facility in Poland
26 February 2026: FY 2025 Results
(1) At constant scope and forex and excluding energy prices
(2) At constant scope and forex
(3) Before Suez PPA
(4) IFRS 8 Segment Rest of the World
(5) Boosters: water technologies, hazardous waste, bioenergies, flexibility and energy efficiency
(6)Including c.€850M of temporary favorable impact of hybrid bond issuance to be reversed at year-end