- Solid Q1 2025, in line with our annual guidance, despite macroeconomic uncertainty, thanks to Veolia’s winning formula of resilience and growth
- Sustained Revenue growth of +3.9%(1) to €11,507M with a good start to the year in Water, in Waste and in Energy.
- Solid operating performance, with an organic growth of EBITDA of +5.5%(2) to €1,695M, fueled by revenue growth, operational efficiency and synergies in-line with targets.
- Net financial debt(3) well under control at €18,855M, i.e. a 2.75x leverage ratio, compared to 2.88x last year.
- Acquisition of CDPQ’s 30% stake in Water Technologies and Solutions for $1.75bn (~€1.5bn), allowing to accelerate value creation in this booster activity of GreenUp plan, corresponding to a ~11x EBITDA multiple post synergies of ~€90M per year by 2027.
- 2025 guidance and GreenUp plan fully confirmed.
Estelle Brachlianoff, CEO of the Group, stated:
“In the first quarter of 2025, Veolia once again demonstrated the relevance of its business model, which combines resilience and growth, by achieving solid results despite an environment marked by macroeconomic uncertainty and persistent external challenges.
EBITDA increased by +5.5%(2), driven by revenue growth, efficiency gains and the continuation of synergies, in line with our annual objectives and the trajectory of the GreenUp strategic plan.
These achievements confirm our ability to generate sustainable growth, thanks to our multilocal and diversified geographical footprint, as well as our unique mix of activities. The combination of expertise and technologies in water, energy and waste, allows us to offer our clients essential services to protect public health, purchasing power, the competitiveness of industries and the supply of strategic resources.
The growth of our "booster" activities thus rose to +7.2% thanks to the integration of new local energy assets and the excellent performance of hazardous waste.
The implementation of the GreenUp plan continues successfully with the major operation signed today for the acquisition of the 30% minority stake of CDPQ in WTS. This acquisition strengthens us in Water Technologies, a "growth booster" and a segment in which we are already a leader, as well as in our international footprint, particularly in North America.
By taking 100% control, we will be able to unleash the full potential of this activity, both in terms of growth and performance, and thus secure the creation of sustainable value for the Group.”
Find the detailed results of Key figures Q1 2025 by downloading the press release:
1 At constant scope and forex and excluding energy prices
2 Boosters: water technologies, hazardous waste, bioenergies, flexibility and energy efficiency
3 Strongholds: municipal water, solid waste, district heating and cooling networks
4 At constant scope and forex
5 Before Suez PPA