Q1 2026 key figures

Key Q1 2026 facts

Sustained Revenue growth of +2.1 %⁽¹⁾ to €11,427M:

• Growth in Water (+2.0%⁽²⁾) and in Energy (+4.1%⁽¹⁾). Stable Waste (-0.1%⁽²⁾)
• Good International growth (+3.1%⁽²⁾) in Americas, Asia Pacific, Africa Middle-East)
• Including the impact of lower energy prices, total Group Revenue is up by +1.0%⁽²⁾

Operational Performance in line with annual guidance: EBITDA of €1,766M, an organic growth of +5.1%⁽²⁾, in the target range of +5% to +6%⁽²⁾, and margin increase of +73bps, with:

• Growth and Performance (+5.1%) fueled by net pricing, productivity and efficiency gains with €96M gross efficiency gains in Q1, in line with annual target of above €350M

Current EBIT⁽³⁾ up +7.2%⁽²⁾, to €971M.

Net financial debt⁽³⁾ under control at €20,797M, with significant net free cash-flow improvement fueled by strict management of Capex and Working capital requirements.

Continued Group profile transformation towards international and technologies

•  Imminent closing of Clean Earth acquisition in Hazardous Waste in the US, expected by June 2026, following antitrust clearance and Enviri’s shareholders approval
• Disposal process ready for the €2bn+ plan to be delivered over 2 years post closing of Clean Earth transaction: several scenarios prepared
• Full integration of Water Technology following buyout of minority interests in 2025 well
  on-track, with €30M synergies already delivered out of €90M expected by 2027, demonstrating strong track-record

Innovation to fuel growth and efficiency ambitions beyond GreenUp:

• Veolia announces an ambitious plan to accelerate its footprint in the data centers industry and microelectronics, targeting over €1 billion in annual revenue from these two markets by 2030. The company aims to leverage its proprietary technologies and global expertise to address the growing demand for integrated solutions in water management, local energy and hazardous waste treatment
• Veolia intends to fully leverage the potential of digital and AI-driven solutions to sustain its recurring efficiency plan of above €350M per year. The Group notably targets to double the share of digital and AI efficiency gains to 50% of operational efficiency by 2030, compared with 23% in 2025

^{1 At constant scope and forex and excluding energy prices}

^{2 At constant scope and forex}

^{3 Before Suez PPA}