Veolia stock: Q3 growth accelerates as 2026 targets hold

Veolia reported stronger third-quarter momentum on Thursday, November 5, 2026, as international operations and Water activities helped accelerate comparable revenue growth. In its nine-month key figures, published on the company's website, Veolia said third-quarter revenue rose 5.0% at constant scope and exchange rates, excluding energy prices.

Veolia stock traded at 34.14 euros on Lang & Schwarz at 11:02 CET on Monday, November 9, 2026. Investors can follow the real-time quote of Veolia stock for the latest trading indication.

Operational momentum improved in Q3

The acceleration followed a solid first nine months. Revenue reached 33.310 billion euros, up 2.6% at constant scope and foreign exchange excluding energy prices. EBITDA rose 5.1% to 5.404 billion euros, while current EBIT increased 6.7% to 2.950 billion euros.

Veolia also lifted profitability. The EBITDA margin reached 16.2%, an improvement of 50 basis points. Chief Executive Estelle Brachlianoff said the third-quarter performance was driven notably by international activities and Water, while describing water security, resource sovereignty and demand for essential environmental services as structural trends supporting the group's positioning.

Guidance remains unchanged

Management fully confirmed its 2026 guidance and the trajectory of the GreenUp plan. The group continues to target organic EBITDA growth of 5% to 6% and current net income attributable to the group growth of at least 8% at constant exchange rates, including the contribution from Clean Earth.

Veolia said the integration of Clean Earth had started successfully. Its disposal plan is also progressing, with 570 million euros of disposals already signed at an average multiple of 10.4 times EBITDA, against a plan exceeding 2 billion euros. The update gives investors a clearer view of the balance between operating growth, portfolio reshaping and the higher financial demands associated with the US expansion.

Investor focus shifts to execution

The latest figures point to a stronger operational finish to the year, but the annual targets still require continued execution in the fourth quarter. The 50-basis-point margin improvement and the contribution from international and Water activities support the investment case, while Clean Earth integration and the disposal program remain important execution factors for cash generation and leverage.

Veolia's official nine-month 2026 key figures provide the latest management update. The CAC 40 remains the relevant French market backdrop; see current CAC 40 market coverage.

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