Veolia stock: Q3 growth accelerates as divestments advance
Published on 11/11/2026 at 11:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGrowth And Portfolio Rotation
- Veolia reported faster third-quarter growth led by international operations and Water activities.
- The group has signed 570 million euros of disposals and kept its 2026 targets and GreenUp trajectory confirmed.
- An Asia event is scheduled for December, followed by the full-year 2026 results in February.
Veolia reported stronger third-quarter momentum on Thursday, November 5, as revenue rose 5.0% at constant scope and foreign exchange, excluding energy-price effects. In its nine-month 2026 release, the French environmental-services group said international operations and Water activities drove the acceleration.
International Growth Leads The Acceleration
Revenue for the first nine months reached 33.310 billion euros, up 2.6% at constant scope and foreign exchange. EBITDA increased 5.1% to 5.404 billion euros, while the EBITDA margin improved by 50 basis points to 16.2%. Current EBIT rose 6.7% to 2.950 billion euros before the effects of the Suez and Clean Earth purchase price allocations.
The geographic figures point to a broad contribution from international operations. Latin America revenue rose 10.9% on the same basis, while North America increased 4.8%, Asia gained 3.1% and Northern Europe advanced 5.1%. Water Technologies revenue declined 2.5%, although it increased 2.6% excluding projects.
Chief Executive Estelle Brachlianoff said the performance reflects demand for water security, resource sovereignty and essential environmental services. She also cited the benefit of recurring efficiency plans and tighter operational management as factors behind the margin improvement.
Portfolio Rotation Moves Ahead
Veolia said its GreenUp strategy is advancing through a faster shift toward international and innovative activities. The company has signed 570 million euros of disposals at an average valuation of 10.4 times EBITDA, within a plan targeting more than 2 billion euros of disposals by mid-2028.
The transactions cover non-strategic or mature activities, including facility management in France, industrial cleaning in Belgium, oil recycling in Europe and selected recycling and waste operations. The company said the integration of Clean Earth in the United States has started successfully, adding to the international platform.
Management fully confirmed its 2026 objectives. The outlook calls for solid organic revenue growth, organic EBITDA growth of 5% to 6% and growth of at least 8% in current net income attributable to the group at constant exchange rates, including Clean Earth. The disposal program is intended to redirect the portfolio toward activities with stronger growth and value-creation potential, although the release does not quantify the future earnings contribution from the remaining transactions.
Upcoming Events For Investors
Veolia stock traded at 34.35 euros on Lang & Schwarz at 11:36 CET on Wednesday, November 11. The quote stood below the previous Lang & Schwarz reference of 34.54 euros, while the available information does not establish a comparable Xetra close for the session.
Veolia Environnement Key Facts
- Company: Veolia Environnement S.A.
- ISIN: FR0000124141
- Lang & Schwarz quote: 34.35 euros at 11:36 CET on November 11, 2026
- Previous Lang & Schwarz reference: 34.54 euros
- Nine-month revenue: 33.310 billion euros
- Nine-month EBITDA: 5.404 billion euros
French shares remain part of the wider European market, which investors can follow through the CAC 40 market overview.
The next scheduled corporate event is Veolia's Asia event from December 1 to 3, 2026. The group plans to publish its full-year 2026 results on February 17, 2027. More news and analyses on Veolia stock.
