Veolia Environnement Adr (VEOEY) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.276 Today, Thursday, July 30th, 2026. I would now like to turn the conference 00:00:05.276 -- 00:00:09.418 over to Ms. Estelle Brachlianoff. Please go ahead. 00:00:09.440 -- 00:00:13.064 Thank you, and good morning, everyone, and thanks for joining us for this conference 00:00:13.064 -- 00:00:18.890 call to present Veolia's H1 results, and I'm accompanied by Emmanuel Mening, our CFO. 00:00:18.890 -- 00:00:23.554 We'll start on slide four, and let me start by highlighting the key achievements of the 00:00:23.554 -- 00:00:28.559 first half. We delivered a new semester of strong performance with another 00:00:28.559 -- 00:00:33.585 improvement of our EBITDA margin and an excellent 10.4% growth in current net 00:00:33.585 -- 00:00:37.189 income, well in line with annual guidance. 00:00:37.189 -- 00:00:42.014 Given the volatile geopolitical and macro environment, these results show how much Veolia 00:00:42.014 -- 00:00:47.166 is standing out, with resilient growth quarter after quarter. 00:00:47.166 -- 00:00:51.069 This is showing the strength of our model with a strong combination of stronghold and 00:00:51.069 -- 00:00:57.714 booster activities, an international presence and a rigorous operational execution. 00:00:57.714 -- 00:01:03.078 If anything, this semester has shed a light on the importance of water security. 00:01:03.078 -- 00:01:08.202 In the context of recurring heat waves, dissemination units become geostrategic 00:01:08.202 -- 00:01:13.605 and data centres hitting wall of acceptability in arid regions. 00:01:13.652 -- 00:01:18.893 Our unique positioning as a powerhouse of ecological security and resource sovereignty 00:01:18.893 -- 00:01:21.994 has become even more precious. 00:01:21.994 -- 00:01:26.755 This semester was moreo...