Veolia Environnement (VIE) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with thanks to shareholders attending in person, by mail, and online, and introduced the executive team present.

• Legal formalities, security information, and confirmation of quorum (73% of shares represented) were provided.

• The agenda included review of financial and non-financial performance, board appointments, remuneration, and strategic initiatives.

Financial performance review

• 2024 revenue grew by 5% (excluding energy prices), with EBITDA up 5.8% to EUR 6.7 billion and net operating result up 14% to EUR 1.5 billion.

• Water, waste, and energy remain core business lines, with water accounting for 41% of revenue and 50% of EBITDA.

• Net profit doubled over five years to EUR 1.53 billion; free cash flow reached EUR 1.156 billion.

• Debt ratio improved to 2.63, with EUR 17.9 billion net financial debt and EUR 5.5 billion in cash.

• Dividend proposed to increase by 12% to EUR 1.4 per share.

Board and executive committee updates

• Board appointments included Elena Salgado, Arnaud Caudoux, and Philippe Brassac; Pierre-André de Chalendar's term renewed.

• Board now achieves gender parity and 36% international representation.

• CriteriaCaixa and Bpifrance joined as long-term, strategic shareholders.