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Veolia's water business leads strong start to 2024

  • Veolia's water business leads strong start to 2024
    Credit: Veolia

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Veolia, a global leader in environmental services, has reported a robust start to the year, bolstered by significant growth in its water business. The company's CEO, Estelle Brachlianoff, highlighted the firm's impressive performance in various sectors, particularly in water technologies, which saw a remarkable 15% increase in sales.

The first quarter of 2024 saw Veolia's revenue reach €11,556 million, reflecting a solid underlying growth of 3.9% excluding energy prices. Notably, the water and waste segments experienced strong growth, while energy remained stable, even amidst fluctuations in energy prices.

Veolia's success in the water sector is underscored by its commitment to technological innovation and strategic partnerships. Brachlianoff pointed out the renewal of a flagship contract worth €4 billion with Syndicat des Eaux de l'Île-de-France as a testament to the company's leadership in providing cutting-edge water solutions. Additionally, Veolia's readiness to tackle emerging pollutants like PFAS in drinking water further solidifies its position as an industry leader.

The company's financial performance reflects its strong operational efficiency and synergies. Veolia reported a sharp organic growth in EBITDA of +5.7%, reaching €1,624 million, exceeding its annual target. Efficiency gains of €88 million and synergies of €42 million were achieved, demonstrating Veolia's commitment to delivering value to its stakeholders.

Veolia's success in the water sector is underscored by its commitment to technological innovation and strategic partnerships

Despite challenges such as currency fluctuations and the impact of lower energy prices, Veolia remains resilient, with its core businesses showing steady growth. Revenue in France and Special Waste Europe witnessed organic growth of +2.7%, driven by positive tariff indexations and price increases in both water and waste sectors.

In the Water Technologies business, Veolia recorded impressive sales growth of +15.3%, fueled by advancements in engineering systems and chemical solutions. The company's focus on innovation is evident in the significant increase in order intake, which surged by 31% compared to the previous year.

Veolia's dedication to sustainable water management and environmental stewardship positions it strongly for continued success in 2024. With a portfolio of strategic contracts, a commitment to innovation, and a track record of delivering value, the company is well-positioned to achieve its objectives for the full year and beyond.

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