Veolia reports a 17.1% increase in net profit in 2024

Veolia announced a 17.1% increase in net profit for 2024, reaching €1.098bn. This performance is driven by its GreenUp strategic plan, despite a decline in revenue linked to falling energy prices and divestments.

Share:

French environmental services group Veolia posted a net profit of €1.098bn in 2024, marking a 17.1% increase compared to the previous year. This result is attributed to the implementation of its GreenUp strategic plan, which focuses the company’s portfolio on higher-value-added technologies. At the same time, Veolia’s revenue fell by 1.45%, reaching €44.7bn, due to the decline in energy prices and the divestment of its subsidiary Sade, which specialises in civil engineering.

Sustained Organic Growth

Despite the overall decline in revenue, Veolia reported a 5% organic growth at constant scope. Chief Executive Officer Estelle Brachlianoff described the results as “historic,” despite macroeconomic and geopolitical challenges. The development of strategic segments, referred to by the company as “growth boosters,” contributed to this momentum with a 6.6% increase. These activities include hazardous waste management, water technologies, and local energy solutions.

International Expansion and New Contracts

Veolia’s regional performance was mixed. Latin America (+10.9%), Africa and the Middle East (+6.1%), and the Pacific (+7.7%) saw notable increases. However, revenue in Europe outside France declined by 3.6%, primarily due to the fall in energy prices. In France, the company secured a 4.5% increase in water treatment tariffs, despite budget constraints affecting local governments.

A major contract in Australia illustrates the company’s international expansion strategy. Veolia won a project worth AUD850m (approximately €511m) for the construction and operation of a waste recycling facility in Canberra over a 20-year period. This infrastructure, powered by a solar system, will recycle 1.3 million tonnes of materials.

Increased Dividends and Share Buybac

Building on these results, Veolia’s board of directors has proposed a 12% increase in dividends, bringing them to €1.40 per share. At the same time, a share buyback programme is planned for the 2025-2027 period to offset the effects of employee stock ownership plans and avoid shareholder dilution.

The company’s debt slightly decreased, standing at €17.8bn. For 2025, Veolia is targeting “solid” organic revenue growth and a 5-6% increase in EBITDA. The synergy target from its merger with Suez has been raised to €530m by the end of 2025.

Atlantica Sustainable Infrastructure takes over Statkraft’s Canadian platform, including all operational and development-stage wind, solar, and storage assets in Canada.
Energy group Engie confirms its financial outlook for 2025 despite what it describes as an uncertain international context and lower prices that weighed on its results in the first half.
Encavis AG announces the acquisition of a 199 MW portfolio consisting of three wind farms and two photovoltaic plants in Aragon, marking a key step in the group's technological diversification in Spain.
TC Energy reports higher financial results in the second quarter of 2025, boosts investments and anticipates a rise in annual EBITDA driven by growing natural gas demand in North America.
Saturn Oil & Gas reports a reduction in net debt by $86mn in the second quarter of 2025, achieving record free cash flow and production above forecasts in the North American market.
Cenovus Energy announces a net profit of $851mn for the second quarter of 2025, while accelerating the completion of its main growth projects and strengthening its strategic position despite temporary operational constraints.
Analysis of sectors spared by Trump tariffs exposes the vulnerability of US industrial supply chains to Brazilian resources.
A partnership between Nscale, Aker and OpenAI will create Stargate Norway, an artificial intelligence infrastructure site powered by renewable energy, set to house 100,000 NVIDIA GPUs in Northern Norway by the end of 2026.
Shell’s half-year net profit falls to USD8.38bn as the group announces a new share buyback programme, amid lower hydrocarbon prices and ongoing cost reductions.
Legrand reports a significant increase in half-year profit, fuelled by growing demand from data centres and reinforced growth prospects for the coming years.
Schneider Electric’s revenue reached EUR19.3bn in the first half, supported by strong data centre activity and growth across all its main markets.
Subsea 7 reports a strong increase in its financial results for the second quarter of 2025 and announces a definitive agreement for a merger with Saipem, while maintaining its growth outlook for the year.
Scatec ASA and Aboitiz Power secure approval for an increased tariff on ancillary services, generating more than $21mn in retroactive revenue on the Philippine market.
Enbridge confirms dividend payments for its common and preferred shares, consolidating its shareholder return policy amid stability in the North American energy sector.
Cox aims to acquire Iberdrola’s 15 power plants in Mexico for EUR4 bn (USD4.69 bn), strengthening its presence in a changing market.
Guzman Energy has finalised a $80mn revolving credit facility with BciCapital to strengthen its liquidity and support its growth in the Western U.S. energy markets.
Chevron announces the appointment of John B. Hess, former executive of Hess Corporation, to its board of directors, marking a strategic step for the group’s governance in a context of transformation in the energy sector.
Nexans reports a 113% increase in net profit for the first half, supported by the growth of its electrification activities and the upward revision of its financial targets for the year.
The European Commission opens an in-depth investigation into Adnoc’s purchase of German chemical group Covestro, questioning the potential impact of foreign subsidies and competition within the European internal market.
Stonepeak announces the creation of JouleTerra, a platform dedicated to the aggregation and management of grid-connected land, aimed at supporting the deployment of renewable energy infrastructure throughout the European continent.