In 2023, results again at an all-time high
Veolia's financial results are excellent and show strong growth despite the unfavorable macro-economic context. They thus confirm Veolia's low sensitivity to economic cycles, thanks in particular to the Group's commercial dynamism and operational excellence. These results demonstrate not only the success of the merger with Suez, but also the relevance of a value-creation model based on the complementarity nature of three businesses (Water, Waste and Energy), a diversified global geographic footprint, and a leadership position in strategic markets. "Our ideal positioning as a leader in ecological transformation in a growth market, as illustrated by the many contracts we have won since the beginning of the year to help our clients cope with the scarcity of water resources, puts Veolia on a sustainable growth trajectory" asserts Estelle Brachlianoff, Veolia's Chief Executive Officer.
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STRONG RESULTS GROWTH FOR OUR REVENUE: +14.2% of revenue and +19% in current net income
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EBITDA STRONG ORGANIC GROWTH OF +8.2 %
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€230m in synergies
ESG, at the heart of multi-faceted performance
In addition to financial performance, Veolia aims to achieve a multi-faceted performance. In terms of social responsibility and governance, the Group has launched numerous initiatives, including a basic package of social benefits for all employees, a purchasing policy of spending that devotes 85% of its resources to the regions where the company operates and a gender-balanced Board of Directors.
Veolia also places environmental, social and governance [ESG] criteria at the heart of its business operations. As Estelle Brachlianoff points out:
Plural performance is thus a second nature to Veolia, which defines its success by its usefulness, and views economic, social, and environmental concerns as an indivisible whole. The results speak for themselves. As Estelle Brachlianoff points out, "Yet this is the paradox of a company that has the environment at the heart of its business model. The more Veolia reduces its clients' carbon emissions, the greater the risk that its ESG rating will fall.”
Today, many ESG ratings naturally take into account the carbon emissions of a company's customers. The more they pollute, the lower the ESG rating of the company in question.
However, in the case of companies whose mission is to reduce the carbon footprint of their customers, this system implies that the more customers they have, and the more they contribute to reducing their emissions, the worse their evaluation and carbon rating will be. Furthermore, ESG ratings do not take into account the emissions that the company in question has helped to avoid for its customers. On the occasion of the Group's half-year results, Estelle Brachlianoff reminded us that "we urgently need a 'scope 4' and improved measurement of the ESG impact of companies."
