Veolia (VIE) Status Update summary

Financial performance and strategic ambitions

• 2024 revenue reached €44.7 billion (+5.0%), EBITDA €6.8 billion (+5.8%), current net income €1.53 billion (+14.6%), EPS €2.13 (+12.4%), and leverage ratio reduced to 2.63x, with all targets met or exceeded.

• ROCE after tax at 8.8%, surpassing pre-Covid and pre-Suez levels; free cash flow at €1,819 million.

• GreenUp 2027 targets include ≥€8bn EBITDA, ~10% net income CAGR, 30% more CO2 erased for customers, 1.5 billion m³ fresh water saved, and 9 million tons of hazardous waste treated.

• 44% of turnover and 71% of eligible scope aligned with EU Green Taxonomy in 2024, up from 40% and 69% in 2023.

• Employee shareholding reached ~9%, with a record 45% subscription rate in 2024 and a target of 10% supported by a share buyback program.

ESG and sustainability performance

• 1.45 billion m³ fresh water saved, 14.5% reduction in Scopes 1 & 2 GHG emissions vs 2021, and 73% deployment of biodiversity action plans on sensitive sites.

• 8.4 million people benefited from inclusive access to essential services; 86% positive ethics survey responses.

• 32.4% women in Group Management Committee, 88% employee engagement, and a 4.33 lost time injury frequency rate (12.5% improvement vs 2023).

• S&P, CDP, ISS ESG, and Moody’s confirm ESG leadership, with Net Zero 2050 validation.

• Green and blue bonds framework established, aligned with ICMA and EU taxonomy, with Moody’s SQS2 rating.

Decarbonization and climate action

• Targeting -50% Scopes 1 & 2 emissions by 2032, +50% Scope 4 (erased emissions) by 2030, and Net Zero by 2050.

• Coal exit in Europe by 2030, €1.6 billion investments planned, €656 million already invested, and methane capture rate to reach 80% by 2032.

• 2024 Scopes 1 & 2 emissions at 20.9 Mt CO₂e (-14.5% vs 2021); new CSRD methodology reallocates non-controlled assets to Scope 3.

• Scope 3: 30% reduction by 2032, with supplier engagement and energy efficiency as key levers.

• Scope 4 erased emissions up 13% in 2024 (15.2 Mt CO₂e), targeting +30% by 2027 and 18 million tons by 2027.