Veolia Environnement SA (VEOEY) Q4 2024 Earnings Call Transcript

Veolia Environnement SA (OTCPK:VEOEY) Q4 2024 Results Conference Call February 27, 2025 2:30 AM ET

Company Participants

Estelle Brachlianoff – Chief Executive Officer
Emmanuelle Menning – Deputy Chief Financial Officer

Conference Call Participants

Alex Roncier – Bank of America
Arthur Sitbon – Morgan Stanley
Olly Jeffery – Deutsche Bank
Ajay Patel – Goldman Sachs
Thomas Martin – BNP Paribas
Charles Swabey – HSBC
Juan Rodriguez – Kepler

Estelle Brachlianoff

Good morning, everyone, and thanks for joining us for this conference call to present Veolia’s 2024 results, and I’m accompanied by Emmanuelle Menning, our CFO.

First and foremost, our 2024 results are very strong and this is in spite of a rather challenging environment. All our targets were achieved or even exceeded, this is thanks to our unique positioning as well as our agility in the delivery of our efficiency programs.

2024 was also the first year of our 4-year GreenUp plan, which, as you know, represents another step forward in the group strategy. Enhanced growth in our Booster activities and geographies, combined with resilience in our Strongholds, creating value and EPS growth associated with an ambitious environmental and multi-performance trajectory. Our 2025 objectives are ambitious and we are raising our synergy targets.

And finally, and this is a first for the group. I have decided to launch a share buyback plan from 2025 to 2027 designed to neutralize the impact of the employee shareholding program.

On Slide 5, you will see our 2024 results, which are once again very strong. All of our targets were achieved or exceeded. Revenue grew by 5% excluding energy price, a growth which is significantly higher than the typical 2% to 3% we have been delivering over the last few years and particularly before the Suez merger. Our Booster activities in particular, this is Water Technologies, Hazardous Waste and Bioenergy, grew by 6.6%.