Bureau Veritas Sa · EURONEXT:BVI
Bureau Veritas Sa — H1 2023 Earnings Presentation
70 slides from Bureau Veritas Sa's earnings presentation, Jul 26, 2023
Slide 1: H1 2023 Results
H1 2023 R E S U LT S JULY 26, 2023 1
Slide 2: Disclaimer
DISCLAIMER This presentation contains statements related to our future business and financial performance and future events or developments involving Bureau Veritas that may constitute forward-looking statements. These statements are based on current plans and forecasts of Bureau Veritas’ management
Slide 3: Agenda
AGENDA FINANCIAL OUTLOOK REVIEW KEY BUSINESS & HIGHLIGHTS PORTFOLIO REVIEW
Slide 4: Key Highlights
KEY HIGHLIGHTS
Slide 5: Board of Directors Changes
BOARD OF DIRECTORS CHANGES ALL COMMITTEES NOW CHAIRED BY AN INDEPENDENT BOARD MEMBER NEW CHAIRMAN OF THE BOARD OF DIRECTORS SIÂN HERBERT-JONES Audit & Risk Committee LAURENT MIGNON JULIE AVRANE NEW LEAD INDEPENDENT DIRECTOR AND VICE-CHAIRMAN OF THE BOARD OF DIRECTORS Strategy Committee PASCAL LEBARD
Slide 6: H1 2023 Financial Highlights
REVENUE • +7.8% total growth (+10.9% at cc) €2.9bn • +9.4% organic growth in H1 2023, of which +10.3% in Q2 A D J . O P E R AT I N G P R O F I T +5.7% y/y €434.2 Adjusted operating margin of 15.0% ADJ. NET PROFIT ADJ. EPS H1 2023 FINANCIAL €276.3 €61cts +11.1% y/y +11.1% y/y HIGHLIGHTS FREE CASH FLO
Slide 7: Strong Organic Growth Fueled by a Diversified Mix
STRONG ORGANIC GROWTH FUELED BY A DIVERSIFIED MIX A BALANCED PORTFOLIO FUELING THE GROWTH1 A STRONG FRANCHISE ACROSS ALL CONTINENTS1 Cumulative Cumulative revenue revenue M&O Middle East and Africa DOUBLE-DIGIT IND 37% Americas ORGANIC GROWTH DOUBLE-DIGIT Ranging from 12.4% to 14.4% ORGANIC GROWTH 6
Slide 8: CSR Key Performance Indicators
CSR KEY PERFORMANCE INDICATORS 2025 H1 2023 Q1 2023 H1 2022 FY 2022 target Total Accident Rate (TAR)1 0.23 0.27 0.24 0.26 0.26 Proportion of women in leadership positions2 29.7% 29.6% 29.2% 29.1% 35.0% Number of training hours per employee (year to date)3 12.4 4.2 14.2 32.5 35.0 CO2 emissions per em
Slide 9: Financial Review
a , 0 FINANCIAL REVIEW
Slide 10: A Solid Momentum Maintained in a Volatile Economic Environment
A SOLID MOMENTUM MAINTAINED IN A VOLATILE ECONOMIC ENVIRONMENT Broad-based growth maintained with strong organic growth throughout the first half organic growth vs. H1 2022 Resilient margin excluding FX adjusted operating margin Strong EPS growth led by solid operating and financial performance coup
Slide 11: H1 2023 Total Revenue Growth of 7.8%
H1 2023 TOTAL REVENUE GROWTH OF 7.8% REVENUE EVOLUTION VARIATION ANALYSIS In € million 10.9% at constant currency +9.4% +1.5% (3.1)% 2,904.2 2,693.4 1 (1) Alternative performance indicators are presented, defined and reconciled with IFRS in appendix of this presentation 11 H1 2023 RESULTS
Slide 12: H1 2023 Revenue Growth by Business
H1 2023 REVENUE GROWTH BY BUSINESS % of @ constant revenue currency 30% Buildings & Infrastructure +10.8% +2.3% +13.1% 21% Agri-Food & Commodities +6.5% +6.5% 21% Industry +15.5% +15.5% 12% Consumer Products (3.1)% +6.0% +2.9% 8% Marine & Offshore +15.6% +15.6% 8% Certification +11.2% +11.2% 100% To
Slide 13: Q2 2023 Revenue Growth by Business
Q2 2023 REVENUE GROWTH BY BUSINESS % of @ constant revenue currency 29% Buildings & Infrastructure +12.7% +2.6% +15.3% 21% Agri-Food & Commodities +5.4% +5.4% 21% Industry +18.2% +18.2% 13% Consumer Products (2.7)% +5.2% +2.5% 8% Marine & Offshore +17.7% +17.7% 8% Certification +11.3% +11.3% 100% To
Slide 14: Adjusted Operating Margin (1/2)
ADJUSTED OPERATING MARGIN (1/2) GROUP MARGIN EVOLUTION (9)bps at constant currency (7)bps (2)bps (21)bps 15.3% 15.2% 15.0% Margin at H1 2022 Organic1 Scope Currency H1 2023 constant currency (1) Alternative performance indicators are presented, defined and reconciled with IFRS in appendix of this pr
Slide 15: Adjusted Operating Margin (2/2)
ADJUSTED OPERATING MARGIN (2/2) GROUP MARGIN EVOLUTION Total Organic Scope Currency H1 2023 H1 2022 change y/y (bp) y/y (bp) y/y (bp) y/y (bp) Marine & Offshore 24.7% 24.5% +22bps +113bps - (91)bps Agri-Food & Commodities 13.5% 13.0% +50bps +66bps - (16)bps Industry 12.3% 11.0% +125bps +147bps - (22
Slide 16: H1 2023 Key Financial Metrics
H1 2023 KEY FINANCIAL METRICS FINANCIAL HIGHLIGHTS Change Change IN EUR MILLIONS H1 2023 H1 2022 y/y at constant y/y currency Revenue 2,904.2 2,693.4 +7.8% +10.9% Adjusted operating profit1 434.2 410.9 +5.7% +10.2% Adjusted operating margin1 15.0% 15.3% (30)bps (9)bps Operating profit 372.9 375.2 (0
Slide 17: A Strong Increase in Earnings Per Share
A STRONG INCREASE IN EARNINGS PER SHARE (EPS) ADJUSTED EARNINGS PER SHARE H1 2023 EPS IN € PER SHARE EPS Adjusted EPS 0.61 €0.61 0.55 0.47 0.44 0.48 0.50 0.51 +11.1% 0.39 Adjusted Earnings vs. H1 2022 0.19 Per Share (0.08) June 2019 June 2020 June 2021 June 2022 June 2023 17 H1 2023 RESULTS
Slide 18: Strong Focus Maintained on Cash Flow Generation
STRONG FOCUS MAINTAINED ON CASH FLOW GENERATION Change IN EUR MILLIONS H1 2023 H1 2022 y/y WELL-CONTROLLED WORKING CAPITAL REQUIREMENT RATIO DESPITE THE STRONG REVENUE INCREASE IN Q2 Profit before income tax 358.0 345.8 +3.5% Elimination of cash flows from financing and investing activities 16.1 (4.
Slide 19: Robust Financial Structure and Stabilized Leverage
ROBUST FINANCIAL STRUCTURE AND STABILIZED LEVERAGE WELL MANAGED LEVERAGE RATIO DEBT MATURITY PROFILE AS OF DEC. 31, 2022 NET DEBT / EBITDA RATIO1 – BANK COVENANT AT 3.50x 688 529 1,80 500 1,30 1,10 1,10 0,97 0,95 200 188 188 200 145 Dec. Jun. Dec. Jun. Dec. Jun. 2020 2021 2021 2022 2022 2023 2023 20
Slide 20: Business & Portfolio Review
0: BUSINESS & PORTFOLIO REVIEW
Slide 21: H1 2023 Strong Performance (1/3)
H1 2023 STRONG PERFORMANCE (1/3) • Double digit organic revenue growth in New Construction, reflecting a solid backlog with +15.6% the conversion of new orders accelerating in Q1 and Q2 2023 Organic growth Marine & • Double digit organic growth in the Core In-service, benefiting from a continued hig
Slide 22: Marine & Offshore: Steady Growth
MARINE & OFFSHORE: STEADY GROWTH DRIVEN BY LONG-LASTING TRENDS Structural growth trends: M&O ORGANIC GROWTH SINCE 2016 Acceleration in the Upward directional trend over the last 3 years renewal of global fleet: • Ageing World fleet • Green shipping and decarbonization y = 0,0057x - 0,0618 • 8% of wo
Slide 23: H1 2023 Strong Performance (1/3)
H1 2023 STRONG PERFORMANCE (1/3) • Double digit organic revenue growth in New Construction, reflecting a solid backlog with +15.6% the conversion of new orders accelerating in Q1 and Q2 2023 Organic growth Marine & • Double digit organic growth in the Core In-service, benefiting from a continued hig
Slide 24: H1 2023 Strong Performance (2/3)
H1 2023 STRONG PERFORMANCE (2/3) • Double-digit organic growth for Power & Utilities, driven mainly by Latin America (grid Opex business) and Europe (nuclear power generation) +15.5% Organic growth • Double-digit organic growth for Oil & Gas Opex, benefited from the continuing conversion of a solid
Slide 25: H1 2023 Strong Performance (2/3)
H1 2023 STRONG PERFORMANCE (2/3) • Double-digit organic growth for Power & Utilities, driven mainly by Latin America (grid Opex +15.5% business) and Europe (nuclear power generation) Organic growth • Double-digit organic growth for Oil & Gas Opex, benefited from the continuing conversion of Industry
Slide 26: H1 2023 Strong Performance (3/3)
H1 2023 STRONG PERFORMANCE (3/3) • Growth enhanced by the portfolio diversification efforts achieved over the last years +11.2% Organic growth • Very good traction in South America and in Asia and Pacific, where the offering has been expanded with new schemes Certification • Double-digit organic gro
Slide 27: H1 2023 Strong Performance (3/3)
H1 2023 STRONG PERFORMANCE (3/3) • Growth enhanced by the portfolio diversification efforts achieved over the last years +11.2% Organic growth • Very good traction in South America and in Asia and Pacific, where the offering has been expanded with new schemes Certification • Double-digit organic gro
Slide 28: Consumer Product Services
CONSUMER PRODUCT SERVICES A STRENGTHENED RESILIENCE AND FOOTPRINT THANKS TO TARGETED ACQUISITIONS 5 A THREE-FOLD DIVERSIFICATION DIVERSIFICATION IS ACCELERATING: BY SECTOR Consumer Product Services House, Beauty and Household more than scope effect BY SERVICE Sustainability 40% of the last 10-year 6
Slide 29: Leading the Way in Innovative Sustainability Customer Solutions
LEADING THE WAY IN INNOVATIVE SUSTAINABILITY CUSTOMER SOLUTIONS BV GREEN LINE KEY SOLUTIONS LAUNCHED H1 2023 BREAKDOWN OF GROUP SALES IN H1 2023 Compliance assessment for the German Supply Chain Act1 45% Ship financing aligned with maritime 55%* decarbonization goals Data centers environmental claim
Slide 30: Outlook
04 OUTLOOK
Slide 31: 2023 New Outlook
2023 NEW OUTLOOK Based on the half-year performance, a healthy sales pipeline, the significant growth opportunities related to Sustainability, Bureau Veritas now expects for full-year 2023 to deliver: A stable Mid-to high- Strong cash adjusted single-digit flow, operating organic with a cash margin
Slide 32: Strong half year with broad-based growth; upwards revision to outlook
Strong half year with a broad-based growth backed by an exemplary execution Upwards revision to outlook for FY 2023 organic revenue growth Positive medium-term growth and value creation opportunities 32 H1 2023 RESULTS
Slide 33: Questions & Answers
QUESTIONS & ANSWERS 33 H1 2023 RESULTS
Slide 34: 2023 Financial Calendar
2023 FINANCIAL CALENDAR Our information is certified with blockchain technology. AGENDA Check that this presentation is genuine at www.wiztrust.com • Q3 2023 revenue: October 25, 2023 • Full Year 2023 Results: February 22, 2024 • Q1 2024 Revenue: April 25, 2024 Bureau Veritas has been ranked in the
Slide 35: Contacts
CONTACTS BUREAU VERITAS HEAD OFFICE – 40/52 BOULEVARD DU PARC 92200 NEUILLY-SUR-SEINE, FRANCE Laurent Brunelle Head of Investor Relations +33 (0)1 55 24 76 09 laurent.brunelle@bureauveritas.com Colin Verbrugghe Investor Relations Manager +33 (0)1 55 24 77 80 colin.verbrugghe@bureauveritas.com Karine
Slide 36: Appendix
—— | APPENDIX
Slide 37: Bureau Veritas' CSR Vision Is to Lead the Industry
BUREAU VERITAS’ CSR VISION IS TO LEAD THE INDUSTRY Owing to the nature of its services, BV has a two-fold impact on CSR issues WITHIN BV FOR CLIENTS thanks to its own thanks to its services supporting CSR strategy CSR commitment All SDGs are impacted with more or less 37 H1 2023 RESULTS extent by BV
Slide 38: Bureau Veritas Aims to Be the Leader in Non-Financial Ratings
BUREAU VERITAS AIMS TO BE THE LEADER IN NON-FINANCIAL RATINGS MAIN RATINGS TO NURTURE REPUTATION WITH CLIENTS AND TRUST WITH INVESTORS S&P Global Low risk Advanced Platinum ranked 1st in Research 70/100 76/100 Sustainability Yearbook 2023 August 2022 October 2022 and Consulting subindustry (Professi
Slide 39: Bureau Veritas' Green Line
BUREAU VERITAS’ GREEN LINE OF INDEPENDENT EXPERTISE TO FOSTER A SUSTAINABLE WORLD RESOURCES & PRODUCTION NEW BUILDINGS & MOBILITY RENEWABLES & INFRASTRUCTURE SOCIAL, ETHICS ALTERNATIVE ENERGIES CONSUMPTION E-MOBILITY, & GOVERNANCE ENERGY TRANSITION & TRACEABILITY CONSTRUCTION ALTERNATIVE Onshore and
Slide 40: Selection of BV Green Line Services Won or Delivered in H1 2023
SELECTION OF BV GREEN LINE SERVICES WON OR DELIVERED IN H1 2023 RESOURCES & PRODUCTION NEW MOBILITY RENEWABLES & ALTERNATIVE BUILDINGS & E-MOBILITY, SOCIAL, ETHICS CONSUMPTION INFRASTRUCTURE ALTERNATIVE ENERGIES & TRACEABILITY PROPULSION & GOVERNANCE • Framework Agreement for Oil CONSTRUCTION CSR ST
Slide 41: Portfolio of Business
PORTFOLIO OF BUSINESS REVENUE BY BUSINESS ADJUSTED OPERATING PROFIT Marine & Offshore Marine & Offshore 12% 8% 13% 16% Agri-Food & Commodities Agri-Food & Commodities 8% 21% Industry 10% Industry 19% H1 2023 H1 2023 Buildings & Infrastructure Buildings & Infrastructure 30% Certification Certificatio
Slide 42: H1 2023 Revenue by Business
H1 2023 REVENUE BY BUSINESS REVENUE AND YEAR-ON-YEAR REVENUE GROWTH BREAKDOWN OF REVENUE IN EUR MILLIONS €m Organic Scope Currency Marine & Offshore 228.6 +15.6% - (3.8)% Marine & Offshore 12% 8% Agri-Food & Commodities Agri-Food & Commodities 611.6 +6.5% - (2.5)% 8% 21% Industry Industry 618.3 +15.
Slide 43: H1 2023 Revenue Evolution by Geography
H1 2023 REVENUE EVOLUTION BY GEOGRAPHY REVENUE BY GEOGRAPHIC AREA REVENUE EVOLUTION BY NATURE Organic Scope Asia Americas Pacific 28% +5.4% 28% H1 2023 Africa, +0.1% Middle East +14.4% 9% +12.4% Europe +8.6% 35% +6.3% Americas Europe Africa, Asia Pacific Middle East 43 H1 2023 RESULTS
Slide 44: Q2 2023 Revenue by Business
Q2 2023 REVENUE BY BUSINESS REVENUE AND YEAR-ON-YEAR REVENUE GROWTH BREAKDOWN OF REVENUE IN EUR MILLIONS €m Organic Scope Currency Marine & Offshore 115.6 +17.7% - (5.6)% Marine & Offshore 13% 8% Agri-Food & Commodities Agri-Food & Commodities 308.9 +5.4% - (4.9)% 8% 21% Industry Industry 323.0 +18.
Slide 45: Q2 2023 Revenue Evolution by Geography
Q2 2023 REVENUE EVOLUTION BY GEOGRAPHY REVENUE BY GEOGRAPHIC AREA REVENUE EVOLUTION BY NATURE Organic Scope Asia Americas +5.2% Pacific 28% 29% Q2 2023 +0.1% Africa, Middle +14.8% East +11.2% +10.4% 9% Europe +8.1% 34% Americas Europe Africa, Asia Pacific Middle East 45 H1 2023 RESULTS
Slide 46: Q2 2023 Total Revenue Growth of 6.9%
Q2 2023 TOTAL REVENUE GROWTH OF 6.9% +11.8% at constant currency (4.9)% +10.3% +1.5% 1,499.8 1,403.3 1 (1) Alternative performance indicators are presented, defined and reconciled with IFRS in appendix of this presentation 46 H1 2023 RESULTS
Slide 47: Marine & Offshore
MARINE & OFFSHORE (8% OF REVENUE, 13% OF PROFIT) KEY FINANCIALS H1 2023 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS H1 2023 H1 2022 Change • New Construction: double-digit organic growth, reflecting a solid backlog with the conversion of Double digit growth Revenue 228.6 204.5 +11.8% new orders accelerat
Slide 48: Agri-Food & Commodities
AGRI-FOOD & COMMODITIES (21% OF REVENUE, 19% OF PROFIT) KEY FINANCIALS H1 2023 HIGHLIGHTS KEY FIGURES H1 H1 • Oil & Petrochemicals: mid-single-digit organic IN EUR MILLIONS 2023 2022 Change growth, led by higher volumes and pricing Agri-Food initiatives, combined with a gaining momentum Revenue Orga
Slide 49: Industry
INDUSTRY (21% OF REVENUE, 18% OF PROFIT) KEY FINANCIALS H1 2023 HIGHLIGHTS KEY FIGURES • Power & Utilities: double-digit organic growth, IN EUR MILLIONS H1 2023 H1 2022 Change driven mainly by Latin America (ramp-up of Opex Oil & Gas contract wins with various Power Distribution business Revenue 618
Slide 50: Buildings & Infrastructure
BUILDINGS & INFRASTRUCTURE (30% OF REVENUE, 24% OF PROFIT) KEY FINANCIALS H1 2023 HIGHLIGHTS KEY FIGURES H1 H1 Construction-related activities (55% of divisional IN EUR MILLIONS 2023 2022 Change revenue): double-digit organic growth China • Double-digit organic growth in Asia Pacific, one (12% of B&
Slide 51: Certification
CERTIFICATION (8% OF REVENUE, 10% OF PROFIT) KEY FINANCIALS H1 2023 HIGHLIGHTS KEY FIGURES H1 H1 • Growth enhanced by the acceleration of portfolio IN EUR MILLIONS 2023 2022 Change diversification efforts Sustainability Revenue 227.8 209.2 +8.9% • Very good traction in South America and in Asia Orga
Slide 52: Consumer Products
CONSUMER PRODUCTS (12% OF REVENUE, 16% OF PROFIT) KEY FINANCIALS H1 2023 HIGHLIGHTS KEY FIGURES H1 H1 • Softlines: mixed performances by country; weak IN EUR MILLIONS 2023 2022 Change in China as expected, contrasting dynamics Turkey between Southeast and South Asian countries Revenue 349.1 351.5 (0
Slide 53: Adjusted Operating Profit by Business
ADJUSTED OPERATING PROFIT BY BUSINESS Adjusted operating profit (€M) Adjusted operating margin (%) Change Change H1 2023 H1 2022 H1 2023 H1 2022 (%) (bp) Marine & Offshore 56.5 50.1 +12.7% 24.7% 24.5% +22bps Agri-Food & Commodities 82.3 76.2 +8.0% 13.5% 13.0% +50bps Industry 76.1 62.2 +22.4% 12.3% 1
Slide 54: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT IN EUR MILLIONS H1 2023 H1 2022 Revenue 2,904.2 2,693.4 Purchase and external charges (828.9) (767.6) Personnel costs (1,532.6) (1,414.1) Taxes other than on income (29.1) (28.1) Net (additions to)/reversals of provisions (11.1) 4.8 Depreciation and amortization (135.4)
Slide 55: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION IN EUR MILLIONS JUNE 30, 2023 DEC. 31, 2022 IN EUR MILLIONS JUNE 30, 2023 DEC. 31, 2022 Goodwill 2,115.3 2,143.7 Share capital 54.4 54.3 Intangible assets 366.7 392.5 Retained earnings and other reserves 1,639.2 1,807.8 Property, plant and equipment 366.2
Slide 56: Consolidated Statement of Cash Flow (1/2)
CONSOLIDATED STATEMENT OF CASH FLOW (1/2) IN EUR MILLIONS H1 2023 H1 2022 Profit before income tax 358.0 345.8 Elimination of cash flows from financing and investing activities 16.1 (4.0) Provisions and other non-cash items 13.2 26.1 Depreciation, amortization and impairment 135.3 129.0 Movements in
Slide 57: Consolidated Statement of Cash Flow (2/2)
CONSOLIDATED STATEMENT OF CASH FLOW (2/2) IN EUR MILLIONS H1 2023 H1 2022 Capital increase 2.9 3.2 Purchases/sales of treasury shares (1.1) (50.8) Dividends paid (13.3) (9.8) Increase in borrowings and other debt - 42.3 Repayments of borrowings and other debt (0.1) (2.9) Repayments of amounts owed t
Slide 58: Adjusted Net Financial Debt
ADJUSTED NET FINANCIAL DEBT IN EUR MILLIONS JUNE 30.2023 DEC. 31, 2022 JUNE 30, 2022 Bank borrowings due after one year (2,090.3) (2,102.0) (2,420.2) Bank borrowings due within one (526.8) (529.1) (105.4) year Bank overdrafts (4.6) (6.4) (14.9) Gross financial debt (2,621.7) (2,637.4) (2,540.5) Tota
Slide 59: Earnings Per Share
EARNINGS PER SHARE IN EUR MILLIONS H1 2023 H1 2022 FY 2022 Basic EPS 0.51 0.50 1.03 Basic adjusted EPS 0.61 0.55 1.18 Weighted average number of shares 452,412,873 452,053,884 452,140,348 Diluted EPS 0.51 0.49 1.02 Diluted adjusted EPS 0.60 0.54 1.17 Weighted average number of shares for diluted 456
Slide 60: H1 2023 Restructuring: €18.6 Million
H1 2023 RESTRUCTURING: €18.6 MILLION BY BUSINESS BY GEOGRAPHY Middle East & 8% Africa Marine & Offshore 4% 24% Agri-Food & Commodities Americas 24% 23% Industry 1% Europe Buildings & Infrastructure 47% Certification 24% Consumer Products 19% Asia Pacific 25% 60 H1 2023 RESULTS
Slide 61: Well Diversified Sources of Financing with a Balanced Maturity Profile
WELL DIVERSIFIED SOURCES OF FINANCING WITH A BALANCED MATURITY PROFILE DEBT MATURITY PROFILE AS OF JUNE 30, 2023 DEBT BREAKDOWN Bond 1% 184 USPP 27 Other 34% Bond USPP Fixed rate Other 500 500 500 65% 100% 200 184 184 200 143 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 27% • Gross financial de
Slide 62: Currency Mix in H1 2023
CURRENCY MIX IN H1 2023 REVENUE CURRENCY EXPOSURE CURRENCY CHANGE (YEAR ON YEAR) JPY TWD SAR AED 1,6% 1,3% SGD 1,1% MXN +12.8% 1,9% INR 1,2% OTHER 1,7% SGD +3.3% HKD 17,6% CLP 2,6% PEN +1.7% 2,9% GBP BRL +1.3% 3,0% SAR +1.2% CAD 3,6% AED +1.2% HKD +1.0% BRL 4,0% USD (and pegged) +0.8% AUD H1 2023 VN
Slide 63: Definition of Alternative Performance Indicators (1/5)
DEFINITION OF ALTERNATIVE PERFORMANCE INDICATORS AND RECONCILIATION WITH IFRS (1/5) INTRODUCTION ORGANIC GROWTH (1/2) The management process used by the Bureau Veritas Group is based on a The Group internally monitors and publishes “organic” revenue growth, which series of alternative performance in
Slide 64: Definition of Alternative Performance Indicators (2/5)
DEFINITION OF ALTERNATIVE PERFORMANCE INDICATORS AND RECONCILIATION WITH IFRS (2/5) ORGANIC GROWTH (2/2) SCOPE EFFECT Organic revenue growth represents the percentage of revenue growth, To establish a meaningful comparison between reporting periods, the impact presented at Group level and for each b
Slide 65: Definition of Alternative Performance Indicators (3/5)
DEFINITION OF ALTERNATIVE PERFORMANCE INDICATORS AND RECONCILIATION WITH IFRS (3/5) Adjusted operating profit and adjusted operating margin are key indicators When an acquisition is carried out during the financial year, the amortization used to measure the performance of the business, excluding mat
Slide 66: Definition of Alternative Performance Indicators (4/5)
DEFINITION OF ALTERNATIVE PERFORMANCE INDICATORS AND RECONCILIATION WITH IFRS (4/5) ADJUSTED EFFECTIVE TAX RATE ADJUSTED ATTRIBUTABLE NET PROFIT PER SHARE The effective tax rate (ETR) represents income tax expense divided by the Adjusted attributable net profit per share (adjusted EPS or earnings pe
Slide 67: Definition of Alternative Performance Indicators (5/5)
DEFINITION OF ALTERNATIVE PERFORMANCE INDICATORS AND RECONCILIATION WITH IFRS (5/5) FREE CASH FLOW FINANCIAL DEBT Free cash flow represents net cash generated from operating activities Gross debt (or gross finance costs/financial debt) represent bank loans and (operating cash flow), adjusted for the
Slide 68: Glossary
GLOSSARY Operating Profit (AOP) excludes amortization of acquisition intangibles, goodwill IoT: Internet of Things impairment, restructuring, acquisition and disposal-related items (adjustment items) IMO: International Maritime Organization ASR: Accident Severity Rate LNG: Liquefied Natural Gas Adju
Slide 69: Ownership and Market Data at June 30, 2023
OWNERSHIP AND MARKET DATA AT JUNE 30, 2023 A mettre à jour REVENUE AND YEAR-ON-YEAR REVENUE GROWTH BREAKDOWN OF REVENUE • Listed on Euronext-Paris • Ticker: BVI • ISIN: FR0006174348 • IPO on October 2007: €9.44/share Wendel group 35.5% • Share Price1: €25.12 • Market Cap.1: €11.4bn Executive Committ
Slide 70: www.bureauveritas.com
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