Veolia Environnement Adr (VEOEY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the Veolia First Quarter 2025 Key Figures Conference Call with Estelle Brashilnov, CEO, and Emmanuel Manning, CFO. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on May 7th, 2025. I would now like to turn a conference call over to Ms. Estelle Breschelamp. Please go ahead. Thank you, and good morning, everyone. Thanks for joining this conference call to present Veolia Q1 Key Figures, and I'm accompanied by Emmanuel Mening, our CFO. First and foremost, Q1 2025 results are very strong, and I'm on slide four. And this is in spite of a rather challenging environment. They are perfectly in line with our new objective and enable us to start 2025 with great confidence and fully confirm our guidance for the year. This result illustrates, once again, the strength of Veolia's winning formula, resilience and growth. As you know, the Veolia value creation model is the combination of three levers, growth, performance and efficiency, and capital allocation. In 2024, which was the first year of our Green Hub plan, we were already very active in terms of capital allocation with 1 million depository of non-core assets and 0.6 billion Euro reinvested leading to a balance sheet headroom. In Q1 2025, we decided to accelerate value creation using part of this headroom with the acquisition of a 30% minority stake of CDPQ in our water technology business. thus achieving full ownership. This strategic move is fully aligned with GreenUp's strategic program and priorities. WaterTech, as you know, being identified as a growth booster ...