Veolia Environnement Sa · EURONEXT:VIE
Veolia Environnement Sa — Investor Day (2025)
50 slides from Veolia Environnement Sa's investor day presentation, Jun 25, 2025
Slide 1: Deep Dive: Waste to Value
DEEP DIVE WASTE TO VALUE Fagus on Innovation and Hazardous waste
Slide 2: Agenda
AGENDA 1. Waste Transformation by Veolia 2. Hazardous Waste Booster 3. Performance & Business Models 4. Round Table
Slide 3: Waste Transformation by Veolia
WASTE TRANSFORMATION BY VEOLIA Estelle BRACHLIANOFF Chief Executive Officer, Veolia
Slide 4: Supportive Megatrends
Supportive Megatrends From an Essential Service to the “Mining” of Energy & Materials and Health Protection CLIENTS' CHALLENGES > Licence to operate Health Strategic for industries Protection Essential Independence PFAS Local Energy, Strategic > Regulatory compliance Services Micropollutants Metals
Slide 5: Veolia a Leader
Veolia a Leader Environmental Services, Circular Economy & Hazardous Waste 35% “BOOSTER” Waste 25% Energy €15.7bn #1 Worldwide (incl. 11,4Md in Hazardous Waste Solid Waste) €45bn 2024 Revenues 10% STRONGHOLD Hazardous Waste #1 in Europe 40% Water €4.3bn in Circular Economy 5
Slide 6: Balanced Portfolio for Stronger Resilience & Impact
Balanced Portfolio for Stronger Resilience & Impact Waste Business Portfolio SOLID WASTE 55 Mtons treated Solid with 500+ solid waste processing plants Waste 9 TWh of energy generated 73% 6.5 Mtons of recycled material (plastics, paper, metals etc) 1.5 Mtons of compost produced 2024 Revenues €15.7bn
Slide 7: Veolia, Championing a Growing Market
Veolia, Championing a Growing Market GreenUp 24-27 Ambition** ● Revenues Growth: Mid to high single digit CAGR ● EBITDA Growth: ~+10% CAGR WASTE ● Margin Expansion MANAGEMENT ● ROCE Increase: ~+50% BOOSTER SECTOR ● +285 Kt new capacity opened by 2027 and +430 Kt/y when fully HAZARDOUS ramped up WAST
Slide 8: Veolia's Winning Formula to Lead Waste Transformation
Veolia’s Winning Formula to Lead Waste Transformation High Net Worldwide Innovation Promoter Footprint & Score Technology (NPS) Local Business Combination Key Asset Anchoring Energy / Waste / Water Ownership Top 3 in each country Technologies 8
Slide 9: A Global Presence to Foster the Transformation of Waste Market
A Global Presence to Foster the Transformation of Waste Market Europe #1 Circular Economy Geographical Footprint #1 Hazardous waste France Outside #2 Solid waste Europe Germany 34% France #2 Solid waste 31% China United-Kingdom #3 Hazardous waste #2 Solid waste 2024 U.S. Middle East #3 Hazardous was
Slide 10: Creating Differentiating Solutions Through Combination
Creating Differentiating Solutions Through Combination Examples of Strategic Business Synergies & Combinations SOLID HAZ. WATER ENERGY WASTE WASTE TECH. Bioenergies from Waste PFAS & New Pollutants 9 TWh and €2.5bn revenue €205m* revenue in 2024 from combination in 2024 from €0 in 2022 European Sect
Slide 11: Strong Track Record of Resilience and Growth
Strong Track Record of Resilience and Growth RESILIENCE GROWTH ● Geographical and Customer Balance ● Volumes: new customers, volume expansion with existing customer, new regulations, new pollutants, ● Agility / Performance: long track record population concerns in efficiency plans, high utilization
Slide 12: Hazardous Waste Booster
HAZARDOUS WASTE BOOSTER Estelle BRACHLIANOFF Chief Executive Officer, Veolia
Slide 13: Specialized Treatment for Every Type of Hazardous Waste
Specialized Treatment for Every Type of Hazardous Waste Innovative Cutting-Edge Technologies Embedded in our Offers Specialised Physico-Chemical High Temperature Recycling & Laboratory Analysis ‘class 1’ Soil Remediation Treatment Incineration Regeneration Landfilling Hazardous Waste Wastewater Haza
Slide 14: Fostering Change with Constant Innovation
Fostering Change with Constant Innovation Strategic metals New Spent Solvent separation ® PFAS - Plug & Sorb ® PFAS - DropFast™ GeoMelt ® Recovery ® & Battery Recycling > Innovative recovery > Solvent > Saturated activated > Innovative add-on > In particular process able to regeneration to carbon re
Slide 15: Veolia, Undisputed Leader Worldwide
Veolia, Undisputed Leader Worldwide €4.3bn 2024 Revenues, 300+ Owned Treatment Assets North Europe America #3 USA #1 Asia HAZARDOUS #3 China WASTE MANAGEMENT SECTOR Africa Middle ~€35bn* in 2025 Latin East America #2 #1 ~3.5%* growth Colombia Pacific per year by 2030 #2 Australia High Temperature In
Slide 16: A Proven Growth Track Record and High Ambition
A Proven Growth Track Record and High Ambition From Pioneer to Global Leader HAZARDOUS WASTE REVENUES GROWTH Health Protection & Biodiversity +285 kt new plants “Invention” of Impact GreenUp +100 kt tuck-ins the hazardous 2020-2023 2024-2027 By 2027: waste sector from water activities +50% ● +285 kt
Slide 17: A Strong Ambition in Hazardous Waste
A Strong Ambition in Hazardous Waste SUPPORTIVE SECTORS VEOLIA, A LEADER STRONG AMBITION IN HAZARDOUS WASTE & MEGATRENDS Worldwide footprint of GreenUp 24-27* Health owned treatment assets ● Revenues growth: protection (300+) Mid to high single digit CAGR ● EBITDA Growth: ~+10% CAGR Wide range of te
Slide 18: Performances & Business Models
PERFORMANCES & BUSINESS MODELS Emmanuelle MENNING Deputy CEO Finance and Purchasing, Veolia
Slide 19: Solid Waste
SOLID WASTE
Slide 20: Solid Waste: a key positioning in all our geographies
Solid Waste: a key positioning in all our geographies Top #3 in the Geographies where we Operate Balanced Customer Portfolio UK, #2 €2.2bn GERMANY, #2 ~50% €1.7bn FRANCE, #2 Municipal €3bn Price Indexations ASIA FY24 19% €0.7bn Long Term contracts: €11.4bn Commercial 5 to 20 years duration & Retail
Slide 21: Transforming Waste into a Resource to Enhance Value Creation
Transforming Waste into a Resource to Enhance Value Creation Collection Sorting / Recycling Incineration Landfills & Services ● Collected volumes to help ● Owned assets for ● Long-term contracts ● Input waste can be sourced to fill our treatment Commercial & Industrial Asset operated on behalf from
Slide 22: Agility & Positioning
Agility & Positioning Ability to protect and develop waste activities In figures Top #3 in each geography Revenue growth 2018-2024 2018-24 CAGR Balanced portfolio Geographical & Customer Solid Waste (SW) Revenue +8% >90% renewal rate SW Revenue +4.5% excl. Suez Including C&I, thanks to strong NPS EU
Slide 23: Strong Track Record in Generating Efficiency Gains
Strong Track Record in Generating Efficiency Gains Strong track record of efficiency Portfolio Rotation > Special focus on operational excellence ● Disposing non-profitable entities, e.g disposal of and cost efficiency in different areas German West Region in 2020 ● Disposing non-strategic activitie
Slide 24: Creating value through combination: Bioenergy
Creating value through combination: Bioenergy Power and Heat VALUE CREATION Waste to Energy plants ~9 TWh of Energy produced Energy ~20% of Waste to Energy Revenue Revenue growth ~€0.4bn revenues Large demand for: ● Affordable & Sustainable energy ● Locally sourced & secured energy Alternative fuels
Slide 25: Hazardous Waste
HAZARDOUS WASTE
Slide 26: Hazardous Waste: A key player in all our Geographies
Hazardous Waste: A key player in all our Geographies A Global Network Customer portfolio Oil & Gas Europe #1 €2.4bn Others 8% Chemical 14% 21% Infrastructure & Utilities 8% Africa & Middle East #2 North America €50M Asia Semiconductor FY24 €1.3bn €0.2bn #3 USA (China #3) 4% €4.3bn Healthcare Pharma
Slide 27: Business Adapted to the Maturity Level of the Sector
Business Adapted to the Maturity Level of the Sector Rest of the world ● Development in new fast growing markets: Australia, Middle East, Latin America U.S. ● China: recovery under way after structuring plan post Covid due to change in local regulation Europe ● #3 Player ● Assets under delivery: > H
Slide 28: Veolia Value Creation Model in Hazardous Waste: Key Levers
Veolia Value Creation Model in Hazardous Waste: 6 Key Levers Growth Performance Capital allocation Value Creation 1 Volume Expansion 4 Efficiency 5 New capacity built New customers, volume High utilization rate of 5 Units EBITDA margin expansion with current Assets > 80% High temperature expansion c
Slide 29: Growth: Mid-to-high single digit growth Booster
Growth: Mid-to-high single digit growth Booster Volume Expansion Long-term disconnect with GDP 1 Industrial production + new legislations Europe Revenue (excl Suez) Compared to Europe GDP stricter control CAGR +8% Pricing Strategy & Mix Optimization +1% +1% 8% price increase in USA 2024: 4% price in
Slide 30: Performance: Technical Expertise Enhancing Profitability
Performance: Technical Expertise Enhancing Profitability 4 4 Asset availability Network of expertise Volume internalization ● Optimize existing capacities ● Unique base of benchmark ● Saturating out existing assets through high availability rates based +300 assets worldwide thanks to our own collect
Slide 31: Capital Allocation: Additional Value Secured
Capital Allocation: Additional Value Secured Delivery of new assets +285 KTons by 2027 Tuck-ins acquisitions 5 (out of 430 Ktons/y capacity when fully ramped-up) 6 +100 KTons/y UK Solvent Recovery Germany 5 tuck-ins signed in H1 2025 +35Ktons Incineration Plant +80Ktons 3 in the U.S. NEDT: Haz Waste
Slide 32: Wrap-up: Hazardous Waste Financial Ambitions
Wrap-up: Hazardous Waste Financial Ambitions REVENUE BRIDGE 2023-2027 (€bn) GreenUp 24-27 R C AG it ● Revenues growth: Dig New capacity built gle Mid to high single digit CAGR h Sin Hig to ● EBITDA Growth: ~10% CAGR Mid Tuck-ins acquisitions Asset availability ● Margin Expansion Volume expansion ● R
Slide 33: Round Table: Boost Growth in Hazardous Waste
ROUND TABLE BOOST GROWTH IN HAZARDOUS WASTE Europe U.S. Middle-East Australia Catherine Ricou Bob Cappadona Helder Daravano Matt Ead CEO President and CEO General Manager National Remediation Hazardous Waste Environmental Solutions MAGMA Services Manager Europe and Services Africa & Middle-East Aust
Slide 34: Hazardous Waste in Europe
HAZARDOUS WASTE IN EUROPE Catherine RICOU CEO, Hazardous Waste Europe, Veolia
Slide 35: Hazardous Waste in Europe
Hazardous Waste in Europe A Mature Sector with Opportunities for Growth A Unique Integration of offers Revenue Growth built over 50 years ● 1st Plant in France in 1975 to protect x1.8 water resources near Paris ● Pan European network of assets €2.4bn ● Overall 5,500+ Ktons of Haz. Waste €1.3bn treat
Slide 36: In Europe, a Strong Network
In Europe, a Strong Network Hazardous Waste Transfer, Treatment and Specialised Storage Platforms A Pan European Network High Temperature Liquid & Material Incineration Recovery 20 Incineration sites 19 Recycling Units (France, Germany, Spain, Poland, (Recycled oils, recycled fuels, solvents, ...) H
Slide 37: Veolia in Europe: creating sustainable value
Veolia in Europe: creating sustainable value 2018-2024: Veolia Europe Hazardous Waste EBITDA: +10% CAGR ● Diversity of the generated hazardous waste Development Priorities streams Resilience of the ● Diversity of customer portfolio (key accounts: & Ambition European model 10-15% of our revenue on th
Slide 38: Hazardous Waste in the USA
HAZARDOUS WASTE IN THE USA Bob CAPPADONA President and CEO, Environmental Solutions and Services North America, Veolia
Slide 39: Veolia's Growth Story in the U.S.
Veolia’s Growth Story in the U.S. Reaching a Strong Positioning of #3 Evolution since the 1990's Revenue Growth x2 ● From hazardous waste removal and trading to a network of logistic platforms & treatment facilities €1bn* ● Internalisation of treatment plants €0.5bn* ● Overall 1,000+ Ktons of hazard
Slide 40: A Wide Network of Owned Assets
A Wide Network of Owned Assets Veolia U.S. network of connected assets High Temperature Transfer platforms Incineration 3 Incineration sites 49 Transport & Transfer (Port Arthur - TX, Gum Springs - AR, platforms in 29 States Sauget - IL) Liquids hazardous waste Electronics recycling recovery Medical
Slide 41: Veolia in the US: Thriving in Hazardous Waste
Veolia in the US: Thriving in Hazardous Waste 2018-2024: Veolia U.S. Hazardous Waste EBITDA: +12% CAGR* ● Decentralized model: local service delivery Priority Offers & Ambition Customer ● Over 250+ onsite teams Centricity Focus on ● Highest Net Promoter Score (NPS) in the industry semiconductors, li
Slide 42: Hazardous Waste in Middle-East
HAZARDOUS WASTE IN MIDDLE-EAST Helder DARAVANO General Manager, MAGMA Near & Middle East, Veolia
Slide 43: In the Middle East, a Major Player in less than a Decade
In the Middle East, a Major Player in less than a Decade > #2 player with €38M revenue in 2024, starting from €0M Hazardous Waste Operations in the in 2018 Middle-East: Largest and most comprehensive treatment facilities in the region > Strong local partner built with the expertise of Veolia worldwi
Slide 44: Hazardous Waste in Australia
HAZARDOUS WASTE IN AUSTRALIA Matt EAD National Remediation Services Manager Australia & New Zealand, Veolia
Slide 45: In Australia, Adaptation to the Customer Needs is key to Success
In Australia, Adaptation to the Customer Needs is key to Success Veolia well positioned to support communities Hazardous Waste Operations in Australia and industries ● #2 player on the market with €204m turnover in Haz. waste in 2024 ● Evolution from direct landfilling towards waste pretreatment and
Slide 46: Wrap Up
WRAP UP Estelle BRACHLIANOFF Chief Executive Officer, Veolia
Slide 47: Successful Start of GreenUp 2024-2027 Plan for a Secured Growth
Successful Start of GreenUp 2024-2027 Plan for a Secured Growth VEOLIA, A LEADER ANNOUNCEMENTS Resilience & growth ON HAZARDOUS WASTE BOOSTER Financial Worldwide footprint of owned treatment assets GreenUp 24-27 Ambition* (300+) ● Revenues Growth: Mid to high single digit CAGR ● EBITDA Growth: ~+10%
Slide 48: Questions & Answers
QUESTIONS & ANSWERS
Slide 49: Important Disclaimer
IMPORTANT DISCLAIMER Veolia Environnement is a corporation listed on the Euronext Paris. This presentation contains “forward-looking statements'' within the meaning of the provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of f
Slide 50: Contacts
CONTACTS Media Relations Media Relations Analyst & Investor Relations LaurentObadia Laurent Obadia Selma Bekhechi Deputy +33 Phone: CEO1in 85charge 57 89 of 43Stakeholders and Head of Investor Relations Communications, E-mail: Advisor to the Chairman laurent.obadia.@veolia.com Phone: +33 1 85 57 84