French environmental services group Veolia reported revenue of €11.43 billion for the first quarter of 2026, an increase of 2.1% at constant scope and foreign exchange and excluding energy prices, the company announced. The group confirmed its full-year 2026 targets and the trajectory of its "GreenUp" strategic plan.
EBITDA reached €1.77 billion in the quarter, with the company citing growth of 5.1% at constant scope and forex. Current EBIT, measured before the Suez purchase price allocation, came in at €971 million, a 7.2% rise at constant scope and forex. Veolia said it generated €96 million in efficiency gains during the quarter, consistent with its annual target of more than €350 million.
Mixed regional performance
Revenue developments varied across the group's geographies. Latin America posted the strongest growth at 7.6% to €525 million, followed by North America at 4.7% to €707 million and Africa & Middle East at 4.4% to €407 million. Iberia rose 3.2% to €711 million, Northern Europe 2.5% to €1.05 billion, and the Pacific region 1.4% to €542 million. Central and Eastern Europe, the group's largest geography by revenue at €3.36 billion, grew 0.4%, while France, the second largest at €2.16 billion, grew 0.6%.
Three segments declined in the quarter: Italy fell 5.5% to €286 million, Water Technologies dropped 2.2% to €1.06 billion, and Asia decreased 1.6% to €618 million.
Acquisitions and strategic priorities
The group said it had completed the main steps required to close its acquisition of Clean Earth in the United States by the end of June, and reported an acquisition in PFAS decontamination in Australia during the quarter.
Veolia also announced a plan to expand its presence in the data center and microelectronics industries, targeting more than €1 billion in annual revenue from those sectors by 2030. The company said it intends to double the share of operational efficiency gains derived from digital tools and artificial intelligence, aiming to reach 50% by 2030.
Chief Executive Estelle Brachlianoff said the first-quarter performance "demonstrates the solidity of the Group's growth profile" and described the company's business model as "relatively insensitive to economic cycles or inflation." She said Veolia was "determinedly continuing to transform the Group profile towards international markets and technologies" and confirmed the company's 2026 targets and GreenUp plan trajectory.
The company described the impact of the Middle East war on its operations as limited, citing what it called a "unique positioning as a worldwide innovative and multilocal player."
