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France's Veolia 9M revenue, profit rise on international operations, water activities

By Reuters News


Overview

  • France's environmental services provider reported 9M revenue up 2.6% yr/yr excluding energy prices; Q3 revenue up 5%

  • EBITDA grew 5.1% organically, with margin up 50 bps to 16.2%

  • Company confirmed 2026 guidance and continued portfolio transformation, including Clean Earth integration


Outlook

  • Veolia confirms 2026 guidance for organic EBITDA growth of 5% to 6%

  • Company maintains 2026 target for solid organic revenue growth excluding energy prices

  • Veolia targets at least 8% growth in 2026 current net income group share at constant forex


Result Drivers

  • INTERNATIONAL & WATER GROWTH - Co said Q3 revenue growth was driven by strong performance in international operations and water activities

  • EFFICIENCY PLANS - Margin improvement attributed to ongoing efficiency and productivity initiatives

  • CLEAN EARTH INTEGRATION - Successful start of Clean Earth acquisition contributed to U.S. hazardous waste business expansion


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Revenue

EUR 33.31 bln

9M EBIT

EUR 2.95 bln

9M EBITDA

EUR 5.40 bln

9M EBITDA Margin

16.20%

9M Net Debt

EUR 25.42 bln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 5 "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 €38.00, about 12.5% above its November 4 closing price of €33.79

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


Reuters Recommended Reads

  • Nov 5 - Veolia profit rises as water technology business returns to growth

  • Nov 5 - France braces for fresh protests as Macron seeks to prevent repeat of October unrest

  • Nov 5 - Legrand lifts 2026 sales outlook on strong data centre demand


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.)

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