Veolia (VIE) AGM 2026 summary

Opening remarks and agenda

• Meeting held at company headquarters in Aubervilliers, emphasizing unity and collaboration among teams and stakeholders.

• Legal formalities and safety instructions were addressed, with confirmation of quorum at 77.03% of voting rights.

• Agenda included approval of 2025 financial statements, dividend allocation, board renewals, compensation policies, and capital-related authorizations.

Financial performance review

• Organic EBITDA grew by 6.3%, margin improved by 150 basis points over two years, and net income rose by 9%.

• Revenue growth reached nearly 3%, with strong performance in booster businesses (water tech, bioenergy) at 4.3%.

• Return on invested capital hit a record 9.4%, and net free cash flow was EUR 1.2 billion.

• Dividend increased by 7% to EUR 1.50 per share, up 20% over two years.

• Share buyback executed to offset employee share ownership plan dilution; employees now hold 9.4% of capital.

Board and executive committee updates

• Renewal of CEO Estelle Brachlianoff’s mandate and Chairman Antoine Frérot’s directorship approved.

• Appointment of Jean-Christophe Taret as director representing employee shareholders, with Sandra Cortese as alternate.

• Board praised for strategic vision, operational continuity, and preparation for leadership transition in 2028.