COURBEVOIE, France - Friday, 25. July 2025 AETOSWire
(BUSINESS WIRE)--Bureau Veritas (BOURSE:BVI):
H1 2025 key figures1
› Revenue of EUR 3,192.5 million in the first half of 2025, up 5.7% year-on-year and up 6.7% organically (with 6.2% organic growth in Q2 2025),
› Adjusted operating profit of EUR 491.5 million, up 8.8% versus EUR 451.9 million in H1 2024, representing an adjusted operating margin of 15.4%, up 44 basis points year-on-year and up 55 basis points at constant currency,
› Operating profit of EUR 513.1 million, up 32.1% versus EUR 388.5 million in H1 2024,
› Adjusted net profit of EUR 292.4 million, up 1.4% versus EUR 288.3 million in H1 2024,
› Adjusted EPS stood at EUR 0.65 in H1 2025, with a 2.4% increase versus H1 2024 (EUR 0.64 per share) and of 6.4% at constant currency,
› Attributable net profit of EUR 322.3 million, up 37.6% versus EUR 234.3 million in H1 2024,
› Free Cash Flow of EUR 168.0 million, up 3.5% organically, and down 11.5% year-on-year due to the one-off impact related to the Food Testing business divestment,
› Adjusted net debt/EBITDA ratio of 1.11x as of June 30, 2025, broadly stable versus last year.
H1 2025 highlights
› Continued momentum of LEAP I 28 strategy execution with broad and resilient growth across most activities and regions, and with tangible impact from performance programs in the first half,
› Executive Committee leadership changes to accelerate strategy execution,
› Acquisition of six bolt-on companies, with four signed between April and July, for a total cumulative annualized revenue of c. EUR 60 million. These acquisitions are aligned with LEAP I 28 portfolio priorities of : i) Expanding leadership positions in Buildings & Infrastructure (Contec in Q1 2025); ii) Creating new strongholds in Power & Utilities and Renewables (Dornier Hinneburg GmbH), Cybersecurity (IFCR), and in Sustainability (Ecoplus), and iii) Optimizing value and impact in mature businesses; in Consumer Product Services (Lab System) and Metals & Minerals (GeoAssay in Q1 2025),
› Completion of a EUR 200 million share buyback program (c.1.5% of the Company’s shares, announced in the Q1 revenue press release in April 2025) to increase shareholders returns.
2025 outlook confirmed
Based on a robust first-half performance, a solid backlog, and strong underlying market fundamentals, and in line with the LEAP | 28 financial ambitions, Bureau Veritas still expects to deliver for the full year 2025:
› Mid-to-high single-digit organic revenue growth,
› Improvement in adjusted operating margin at constant exchange rates,
› Strong cash flow, with a cash conversion2 above 90%.
Hinda Gharbi, Chief Executive Officer, commented:
“In the first half of 2025, Bureau Veritas made significant progress in implementing the LEAP I 28 strategy, delivering results that highlight the Company operational resilience and strategic focus: a robust organic growth of 6.7% and a strong margin improvement of 44 basis points. We continued to develop our portfolio through 6 new bolt-on acquisitions, and we progressed with our performance programs, designed to enhance operational efficiency. We have also ensured that specific cost actions are implemented to navigate an uncertain environment for our customers. Additionally, we completed our EUR 200 million share buyback program to drive shareholders’ returns, showcasing our confidence in the Company’s outlook. At the end of the second quarter, we announced changes to our Executive Committee leadership, aimed at accelerating strategy execution. This reorganization will strengthen our regional platforms, enabling more cross-selling, and accelerating our operational excellence and performance programs.
Looking ahead, our strategic priorities are clear: to execute our portfolio programs both organically and inorganically, driving a step change in organic growth and market leadership, and to enable consistent and continued margin improvements.
Given our robust first-half performance, solid backlog, and the proven resilience of our diversified portfolio, we confirm our full-year 2025 outlook.”