Veolia

Strategic intent

Veolia is a global environmental services giant providing comprehensive water management, hazardous and solid waste treatment, and local energy services to municipal and industrial clients.

Key market signals

• 2024-09: Appointed Emmanuelle Menning as Deputy CEO of Finance and Purchasing, strengthening the executive committee for the deployment of the GreenUp strategic plan.
• 2025-12: Appointed Nadège Petit as CEO of the North America Zone to accelerate expansion and capture growth opportunities in the dynamic US environmental services market.
• 2026-04: Partnered with Amazon Web Services (AWS) to develop reclaimed water cooling solutions for data centers, launching the 'Data Center Resource 360' offering.
• 2026-06: Completed the $3 billion acquisition of Clean Earth from Enviri, doubling Veolia's hazardous waste footprint in the United States.
• 2026-07: Secured €343 million in water technology bookings in the microelectronics sector, including major contracts in Singapore and the US for ultrapure water and wastewater reclamation.

Financial health

• In H1 2026, Veolia generated consolidated revenue of €22,193 million, representing organic growth of 1.5% excluding energy prices, and EBITDA of €3,552 million, up 5.0% organic. (Source: https://www.veolia.com/sites/g/files/dvc4206/files/document/2026/07/veolia-2026-first-half-results.pdf)
• For the full year 2025, Veolia reported consolidated revenue of €44,396 million (+2.8% organic) and EBITDA of €7,050 million (+6.3% organic), with post-tax ROCE reaching 9.4%. (Source: https://www.veolia.com/sites/g/files/dvc4206/files/document/2026/04/veolia-integrated-annual-report-2025.pdf)
• As of June 30, 2026, Veolia's net financial debt stood at €24,548 million, reflecting the impact of the Clean Earth acquisition. (Source: https://www.veolia.com/sites/g/files/dvc4206/files/document/2026/07/veolia-2026-first-half-results.pdf)

Impact & compliance

Legal & risks

In November 2025, the Supreme Court of Victoria ordered Veolia Recycling & Recovery Pty Ltd to pay $1 million into a restorative justice project account and $75,000 in legal costs for failing to comply with its operating licence and general environmental duty at the Hallam Road Landfill. In […]

Forensic audit — 1 findings

• ⚠ In February 2025, Veolia North America reached a $53 million settlement with the State of Michigan and approximately 26,...

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