Veolia Environnement S.A. Q3 2025 Earnings Recap

Veolia reported strong 9-month results, with revenue reaching EUR 32 billion and a notable EBITDA increase of 5.4%, driven by robust international performance and ongoing efficiency gains.

Key Takeaways

• Revenue rose 3.2% year-over-year, excluding energy prices, with EBITDA margin improving by 50 basis points.
• Current EBIT increased by 7.9%, reflecting strong operating leverage and effective cost management.
• Completed EUR 2.3 billion in M&A activity, focusing on strategic growth in Water Technology and Hazardous Waste sectors.
• International operations are key, as 80% of revenues are generated from faster-growing regions, notably North America and Latin America.
• Guidance for Q4 remains strong amidst a challenging macroeconomic environment, bolstered by solid performance across all business segments.