• Solid underlying growth in turnover  and very good commercial momentum both in the activities identified as  boosters  in the GreenUp strategic plan (Water Technologies, Hazardous Waste, Bioenergy and Energy Efficiency), and in the historical core activities  .
  • Confirmation of the solidity of our value creation model with strong organic EBITDA growth of +5.7%,  fueled by revenue growth, operational efficiency and synergies, ahead of schedule. annual objective.

Turnover of €11,556 million, solid growth of +3.9% (1) excluding the effect of the change in energy prices 

  • Strong growth in Water and Waste
  • Energy activity stable excluding the effect of the fall in energy prices
  • In total, and after taking into account the effect of the drop in energy prices, turnover was down slightly by 1.7%(1), with no impact on results.

EBITDA of €1,624 million, sustained growth of +5.7%(1), within the target range of +5% to +6% (1)  :

  • €88 million in efficiency gains for an annual target of €350 million
  • €42 million in synergies ahead of the annual objective 

Current EBIT up sharply by +11.1% (1) , to €843 million

2024 objectives fully confirmed

Estelle Brachlianoff , Chief Executive Officer of the Group, declared: 

“We began 2024 with strong demand for our services, which resulted in significant revenue growth of 3.9%. This demand is particularly strong in our booster activities, and in particular water technologies, where turnover increased by 15% with orders up 50%. Our core water and waste businesses also recorded solid organic growth.

We continued to demonstrate our technological leadership and our innovative approach to providing our customers with the water service of the future, notably through the renewal of the flagship contract with the Syndicat des Eaux de l'Île-de-France, worth total of 4 billion euros, and to find the solutions that allow us today to be ready to fight against emerging pollutants, such as PFAS, in drinking water in the United States and France.

This commercial dynamic combined with strict financial discipline made it possible to increase our EBITDA by 5.7% and our current EBIT by 11.1%. Very good results, in line with the strategic priorities of the GreenUP plan, which allow us to fully confirm our objectives for the entire financial year.”

🔎  2024 outlook confirmed

Given the very good results for the 1st quarter of 2024, the 2024 guidance is fully confirmed:

  • Solid organic growth (1) (2) in turnover 
  • Cost savings greater than €350 million to which are added new synergies expected for a cumulative amount greater than €400 million by the end of 2024, in line with the objective of cumulative €500 million
  • Organic growth (1) of EBITDA from +5% to +6%
  • Current net income, group share, greater than €1.5 billion (3)
  • Expected leverage ratio < 3x (3)
  • Dividend growth in line with current net profit per share

🔎  GreenUp 2024-2027 outlook confirmed

  • Solid revenue growth 5
  • €350 million in savings per year
  •  ≥ 8 billion euros of EBITDA in 2027 
  • ~ 10% annual growth in current net income over 2023-2027 6
  • Financial leverage  ≤ 3x
  • Dividend growth in line with current EPS


  • 4 billion euros of growth investments including 2 billion prioritized on 3 strategic activities (growth boosters)
  • Decarbonization:  18 million tonnes of CO2 erased in 2027 (scope 4) & emissions reduction trajectory compatible with 1.5°C of warming (scope 1&2)
  • Regeneration:  1.5 billion m3 of fresh water saved in 2027
  • Depollution:  10 million tonnes of hazardous waste and pollutants treated in 2027

🗓️ Calendar

October 17:  Deep dive  Water Technologies and Innovation

5 excluding energy prices.
6 At constant exchange rate.



The Veolia group aims to become the benchmark company for ecological transformation. Present on five continents with nearly 218,000 employees, the Group designs and deploys useful and concrete solutions for water, waste and energy management that contribute to radically changing the situation. Through its three complementary activities, Veolia contributes to developing access to resources, preserving available resources and renewing them. In 2023, the Veolia group will serve 113 million inhabitants with drinking water and 103 million with sanitation, produce 42 terawatt hours of energy and recover 63 million tonnes of waste. Veolia Environnement (Paris Euronext: VIE) achieved consolidated revenue of 45.3 billion euros in 2023.



Veolia Environnement is a company listed on Euronext Paris and this press release contains “forward-looking statements” within the meaning of the provisions of the US Private Securities Litigation Reform Act of 1995. These statements are not guarantees as to the future performance of the Company. Actual results may differ significantly from forward-looking statements due to a number of risks and uncertainties, most of which are beyond our control, including: risks related to the development of Veolia Environnement's activities in very competitive activities which require significant human and financial resources, the risk that changes in the price of energy and the level of taxes could reduce Veolia Environnement's profits, the risk that public authorities could terminate or modify some of the contracts concluded with Veolia Environnement, the risk that acquisitions do not produce the profits that Veolia Environnement hopes to achieve, the risks linked to the terms and conditions usually included in transfer agreements, the risk that compliance with environmental laws could become even more costly in the long term. in the future, the risk that fluctuations in exchange rates will have a negative influence on the financial situation of Veolia Environnement as reflected in its financial statements with, as a result, a drop in the price of Veolia Environnement's shares, the risk that Veolia Environnement may see its environmental liability incurred due to its past, present and future activities, as well as the other risks described in the documents filed by Veolia Environnement with the Financial Markets Authority. Veolia Environnement has no obligation nor undertakes any obligation to update or revise any forward-looking statements. Investors and holders of securities can obtain free of charge from Veolia Environnement ( a copy of the documents filed by Veolia Environnement with the Financial Markets Authority.

Contacts Veolia

Laurent Obadia - Evgeniya Mazalova
Anna Beaubatie - Aurélien Sarrosquy
Tél.+ 33 (0) 1 85 57 86 25
[email protected]

Ronald Wasylec - Ariane de Lamaze
Tél. + 33 (0)1 85 57 84 76 / 84 80
[email protected]