VIE FINANCIAL STATEMENTS

Veolia Environnement VE SA — balance sheet, income statement and cash flow trends

VIEVeolia Environnement VE SA

🇫🇷 France · PA · Industrials · Waste Management

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q2 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue44.4 B €-2.1%

Gross Profit7.8 B €-12.1%

Operating Income3.4 B €-33.8%

EBITDA7.1 B €-10.1%

Net Income1.2 B €+28.9%

Peer Comparison· Waste Management

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
VIE	-0.7%	17.6%	15.9%	2.7%
WCN	5.5%	39.3%	31.1%	11.0%
CLH	1.9%	28.0%	19.2%	6.5%
RSG	3.2%	39.1%	30.7%	13.0%
GFL	-6.2%	20.6%	31.1%	3.1%
WM	10.9%	32.1%	29.1%	11.0%
Industry median	3.2%	24.6%	19.2%	3.0%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
VIE	-0.7%	17.6%	15.9%	2.7%
LR	9.5%	50.4%	23.9%	13.2%
SGO	-0.2%	27.2%	11.5%	4.5%
EN	-1.0%	18.2%	10.1%	2.1%
HO	7.6%	26.4%	14.3%	7.6%
BVI	2.1%	23.9%	19.2%	9.1%
Industry median	3.2%	24.6%	19.2%	3.0%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q2 2025

Equity7 B €10%
Current Liabilities30 B €44%
Long-term Liabilities31.2 B €46%

Key Figures

YoY change

Total Assets70.7 B €-2.6%

Total Liabilities61.2 B €-0.4%

Total Equity7 B €-19.1%

Cash & ST Investments8 B €-7.8%

Total Debt33.3 B €+4.3%

Net Debt25.3 B €+8.8%

Peer Comparison· Waste Management

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
VIE	0.86	474.8%	3.59	9.9%
WCN	0.69	117.1%	3.14	38.0%
CLH	2.34	109.6%	2.04	36.7%
RSG	0.67	4.6%	0.03	34.6%
GFL	1.51	135.9%	4.06	34.9%
WM	0.93	228.4%	3.07	21.9%
Industry median	1.38	109.6%	3.07	34.8%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
VIE	0.86	474.8%	3.59	9.9%
LR	1.96	85.4%	2.00	42.5%
SGO	1.27	72.2%	1.87	40.3%
EN	0.94	116.0%	1.47	20.3%
HO	0.84	76.9%	0.52	20.4%
BVI	1.50	180.3%	1.38	24.2%
Industry median	1.38	109.6%	3.07	34.8%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q2 2025 · TTM

Key Figures

YoY change

Operating Cash Flow4.5 B €-2.0%

Capital Expenditures3.1 B €-2.7%

Free Cash Flow1.7 B €-7.7%

Dividends Paid163 M €-79.7%

Peer Comparison· Waste Management

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
VIE	10.2%	3.8%	6.9%	371.2%
WCN	25.2%	20.2%	15.4%	229.3%
CLH	14.4%	7.7%	6.7%	220.3%
RSG	26.9%	15.5%	11.4%	207.4%
GFL	19.4%	1.3%	18.1%	623.9%
WM	24.9%	12.9%	12.0%	226.8%
Industry median	16.3%	5.2%	7.0%	228.0%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
VIE	10.2%	3.8%	6.9%	371.2%
LR	16.6%	14.2%	2.4%	125.4%
SGO	12.1%	7.0%	3.5%	272.6%
EN	9.1%	4.7%	4.3%	426.8%
HO	15.0%	11.8%	3.3%	198.4%
BVI	14.9%	12.7%	2.3%	164.4%
Industry median	16.3%	5.2%	7.0%	228.0%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.