Veolia (VIE) AGM 2026 summary

Opening remarks and agenda

• The meeting was held at the company’s headquarters in Aubervilliers, with a strong emphasis on unity and collaboration among operational teams and shareholders, both present and remote.

• Legal formalities were completed, confirming the meeting's validity with a quorum of 77.03% of voting rights represented.

• The agenda included approval of 2025 financial statements, appropriation of results, dividend payment, board renewals, compensation policies, share capital authorizations, and employee share ownership plans.

Financial performance review

• Organic EBITDA grew by 6.3%, net income rose 9%, and margin improved by 150 basis points over two years.

• Revenue growth reached nearly 3%, with booster businesses (water tech, bioenergy) growing at 4.3% and core businesses at 2.2%.

• Return on invested capital hit a record 9.4%, and net free cash flow was EUR 1.2 billion.

• The dividend increased by 7% to EUR 1.50 per share, up 20% over two years.

• Share buybacks were conducted to offset dilution from employee share ownership.

Board and executive committee updates

• Renewal of Estelle Brachlianoff’s mandate as CEO and Antoine Frérot’s as director were proposed and approved.

• Appointment of Jean-Christophe Taret as director representing employee shareholders and Sandra Cortese as alternate.

• Board praised for strategic vision, operational continuity, and preparation for future leadership transition.