Bureau Veritas SA
PAR:BVI

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Bureau Veritas SA Logo
Bureau Veritas SA
PAR:BVI
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Price: 26.84 EUR -1.25% Market Closed
Market Cap: 12.2B EUR

Bureau Veritas SA
Investor Relations

Bureau Veritas SA, a veritable stalwart in the sphere of testing, inspection, and certification (TIC), traces its roots back to 1828 in Antwerp, Belgium. From its inception as a classifier of ships, the company expanded its expertise across a multitude of industries, establishing a remarkable foothold globally. At its core, Bureau Veritas provides businesses with critical services that ensure their processes, products, and infrastructure meet rigorous standards and regulations. This global heavyweight operates across diverse sectors—ranging from marine and agriculture to construction and consumer products—providing pivotal support in the increasingly complex world of international trade and compliance.

Today, Bureau Veritas thrives on a dynamic business model that marries a legacy of technical knowledge with innovative solutions. The company drives its revenue by offering a comprehensive suite of services that include testing products for safety and quality, inspecting facilities and equipment to ensure compliance, and certifying organizations against industry standards. With its headquarters in Neuilly-sur-Seine, France, Bureau Veritas leverages a global network of laboratories and offices, allowing it to serve a broad client base across 140 countries. Through its strategic focus on sustainability and technological advancement, Bureau Veritas not only navigates but also shapes the evolving landscape of regulatory demands, fortifying its role as a trusted partner in quality assurance for businesses worldwide.

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Last Earnings Call
Fiscal Period
Q2 2023
Call Date
Jul 26, 2023
AI Summary
Q2 2023

Revenue Growth: Bureau Veritas delivered H1 2023 revenue of €2.9 billion, up 7.8% year-on-year and 10.9% at constant currency, with organic growth of 9.4%.

Margin Stability: Adjusted operating margin remained stable at 15% despite inflation and FX headwinds. Management expects stable margins for the full year at constant currency.

EPS & Profit: Adjusted net profit rose 11.1% to €276 million, and adjusted EPS reached €0.61, also up 11.1% year-on-year.

Free Cash Flow: Free cash flow was €131.9 million, up 1.5% year-on-year, reflecting strong working capital control.

Guidance Raised: The company increased its full-year organic revenue growth guidance to mid- to high single digits (was previously mid-single digits), citing a strong sales pipeline.

Business Mix: Marine & Offshore, Industry, Building & Infrastructure, Certification, and Agri-Food & Commodities all showed robust growth; Consumer Products remained weak but is expected to improve in H2.

Capital Allocation: Leverage dropped to 0.95, and management emphasized an intention to accelerate M&A in targeted growth areas.

Sustainability Progress: The company continues progress on CSR, gender diversity, and decarbonization targets, with SBTi validation for greenhouse gas reduction goals.

Key Financials
Revenue
€2.9B
Adjusted Operating Profit
€434M
Adjusted Operating Margin
15%
Adjusted Net Profit
€276M
Adjusted EPS
€0.61
Free Cash Flow
€131.9M
Leverage Ratio
0.95
Working Capital as % of Revenue
8.8%
CapEx as % of Revenue
2.6%
Marine & Offshore Organic Growth
15.6%
Industry Organic Growth
15.5%
Certification Organic Growth
11.2%
Building & Infrastructure Organic Growth
10.8%
Agri-Food & Commodities Organic Growth
6.5%
Consumer Products Organic Growth
-3.1%
Net Financial Expense
€15.2M
Adjusted Effective Tax Rate
30.7%
Women in Leadership Positions
29.7%
CO2 Emissions per Employee
Reduced 3% YoY
Earnings Call Recording
Other Earnings Calls

Management

Ms. Hinda Gharbi M.Sc.
Chief Executive Officer
No Bio Available
Mr. Francois Chabas
Executive VP of Finance & Group CFO
No Bio Available
Mr. Philipp Karmires
Executive VP and Chief Digital & Information Officer
No Bio Available
Mr. Laurent Brunelle
Head of Investor Relations
No Bio Available
Ms. Beatrice Place Faget
Executive Vice-President of Group Legal Affairs & Internal Audit
No Bio Available
Mr. Juliano Cardoso
Executive Vice-President of Corporate Development & Sustainability
No Bio Available
Mr. Michael Hardy
Vice President of Sales
No Bio Available
Ms. Maria Lorente Fraguas
Executive VP & Chief People Officer
No Bio Available
Mr. Laurent Louail
Executive Vice President of Commodities, Industry & Facilities - South & West Europe
No Bio Available
Mr. Matthieu de Tugny
Executive Vice President of Marine & Offshore Division
No Bio Available

Contacts

Address
ILE-DE-FRANCE
Neuilly-sur-Seine
Immeuble Newtime 40/52 boulevard du Parc
Contacts
+33155247000.0
www.bureauveritas.fr