Veolia’s 2025 growth driven by hazardous waste

Veolia Environnement SA reported growth overall for 2025, citing an increased presence in hazardous waste among the many “boosters” to its growth for the year.

While sales for the France-based company decreased to EUR 44.4 billion ($51.5 billion), the firm says that figure represents a 2.8 percent increase when excluding the impact of energy prices. Net income increased to EUR 1.22 billion ($1.41 billion), a 10.9 percent increase compared to 2024.

According to CEO Estelle Branchlianoff, “2025 has truly been a pivotal year, as we’ve successfully closed the chapter of Suez integration and we’ve performed a major strategic refocusing of the group portfolio towards accelerated growth and international positioning.”

In North America, Veolia reported EUR 3.15 billion ($3.65 billion) in sales for 2025, a 3.5 percent increase compared to the previous year. The firm says the growth was mainly driven by hazardous waste activity, strong commercial momentum, favorable mix and solid performance in the regulated water business.

The company also made five acquisitions in North America for the year, highlighted by its $3.04 billion deal to acquire Clean Earth from Enviri Corp., based in Philadelphia. Veolia says at the time of the deal that both companies unanimously approved the transaction, which is expected to close mid-2026, pending regulatory approval and subject to Enviri shareholder approval.

According to Veolia, adding Clean Earth marks the company’s largest acquisition since its 2022 merger with Suez and will double Veolia’s U.S. hazardous waste footprint.

Veolia also closed four other acquisitions in 2025. In Massachusetts, the group acquired a waste treatment site and emergency response operations through New England Disposal Technologies, and Bio-Med Technologies, a permitted medical waste treatment and storage facility formerly operated by New England MedWaste.

The firm added packaging, logistics and multi-stream treatment capabilities across hazardous, biological and radioactive waste by acquiring Ingenium, based in Escondido, California.

And in the semiconductor industry, Veolia acquired Chameleon Industries Group, a Texas-based producer of specialty chemicals.

In 2025, we resolutely resumed external growth with two major acquisitions in water technologies and U.S. hazardous waste, accelerating the group transformation towards more international and technology driven,” Branchlianoff says.