France's Veolia Q1 EBITDA rises 5.1%, margin improves

Veolia Environnement SA

06/05/2026 06:38

Overview

France environmental services firm's Q1 revenue rose 1%, driven by water and energy gains

Q1 EBITDA grew 5.1% with margin up to 15.5%

Company confirms 2026 guidance and highlights efficiency gains, acquisitions, and digital expansion

Outlook

Veolia confirms 2026 targets for organic EBITDA growth of +5% to +6%

Company expects current net income Group share growth of minimum +8% for 2026

Veolia targets over €1 bln in annual revenue from data centers and microelectronics by 2030

Result Drivers

EFFICIENCY GAINS - Veolia said Q1 EBITDA growth was fueled by €96 mln in operational efficiency gains, in line with its annual target

PRICE INCREASES - Tariff indexations and price increases in Water and Energy supported revenue growth across several regions

ACQUISITIONS - Recent acquisitions, especially in hazardous waste treatment, contributed to growth, notably in the Pacific and Americas regions

Company press release: ID:nBw7Wm77fa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 11.43 bln
Q1 EBIT
EUR 971 mln
Q1 EBITDA
EUR 1.77 bln
Q1 EBITDA Margin
15.50%
Q1 Net Debt
EUR 20.80 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the multiline utilities peer group is "buy"

Wall Street's median 12-month price target for Veolia Environnement SA is €38.50, about 7.9% above its May 5 closing price of €35.67

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)