Bureau Veritas Sa · EURONEXT:BVI
Bureau Veritas Sa — Q1 2025 Earnings Presentation
41 slides from Bureau Veritas Sa's earnings presentation, Apr 24, 2025
Slide 1: Q1 2025 Revenue
Q1 2025 April 24, 2025 REVENUE
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: Summary
SUMMARY 01 02 03 04 05 HIGHLIGHTS LEAP | 28 FINANCIAL PORTFOLIO OUTLOOK UPDATE REVIEW BUSINESS HIGHLIGHTS 3
Slide 4: Highlights
01. Highlights 4
Slide 5: Q1 2025 Organic Growth
Q1 2025 ORGANIC GROWTH HIGHLIGHTS +7.3% Steady growth across the board EXTERNAL GROWTH €1.56bn +3.0% (1.6)% acquisitions disposals Contribution from recent accelerated bolt-on acquisitions, partly offset by disposals over the +8.3% total growth +1.4% net past 12 months, including parts of the Food t
Slide 6: Good Start to the Year
GOOD START TO THE YEAR ORGANIC REVENUE GROWTH BY BUSINESS ORGANIC REVENUE GROWTH BY REGION SIZE OF BOXES IN PROPORTION OF GROUP REVENUE IN PERCENTAGE OF GROUP REVENUE Cumulative revenue Africa, Middle East +24.9% IND organic growth DOUBLE-DIGIT 11% 39% ORGANIC GROWTH Americas M&O Ranging from 10.9%
Slide 7: Resilient Revenue Streams in an Uncertain Environment
RESILIENT REVENUE STREAMS IN AN UNCERTAIN ENVIRONMENT REVENUE MIX BY TYPE OF SERVICES IN PERCENTAGE OF GROUP REVENUE Capex benefiting from: Opex & c. 37% Systems › Large-scale investment programs FY 2024 › Secured by solid backlog c. 26% revenue › Long-term trends around urbanization, low-emission a
Slide 8: LEAP | 28 – M&A Update
Focused portfolio M&A execution LEAP I 28 – M&A UPDATE Q1 2025 LEAP | 28 Q1 2025 Acquisitions First year M&A Revenue in annualized Disciplined and execution progress Mix revenue targeted M&A strategy Expand Leadership1 38% ✓✓ 1 acquisition in B&I c. €30m • Focus on small bolt- on acquisitions New St
Slide 9: Financial Review
03. Financial review 9
Slide 10: Q1 2025 Total Revenue Growth of 8.3%
Q1 2025 TOTAL REVENUE GROWTH OF 8.3% REVENUE EVOLUTION VARIATION ANALYSIS In € million +8.7% at constant currency +7.3% +1.4% (0.4)% 1,558.7 1,439.5 Q1 2024 Organic 1 Scope Currency Q1 2025 (1) Alternative performance indicators are presented, defined and reconciled with IFRS in appendix of this pre
Slide 11: Q1 2025 Revenue Growth by Business
Q1 2025 REVENUE GROWTH BY BUSINESS % of @ constant revenue currency 31% Buildings & Infrastructure +2.5% +5.2% +7.7% 21% Industry +14.3% +0.7% +15.0% 19% Agri-Food & Commodities (5.9)% +6.0% +0.1% 11% Consumer Products +3.4% +4.4% +7.8% 9% Marine & Offshore +11.8% +11.8% 9% Certification +10.9% +3.7
Slide 12: A Well-Defined and Disciplined Capital Allocation
A WELL-DEFINED AND DISCIPLINED CAPITAL ALLOCATION 2024 CAPITAL ALLOCATION 2028 GOALS NET M&A SPEND: accelerated €267m Portfolio high-grading Q1 2025 HIGHLIGHTS New EUR 200m share buy back program CAPEX: 2.5% - 3.0% 2.2% As a % of revenue → To be completed by the end of June 2025 → Reflecting confide
Slide 13: Portfolio Business Highlights
03. Portfolio business highlights 13
Slide 14: Marine & Offshore
Key Q1 2025 figures LEAP | 28 MARINE & Divisional revenue Organic Revenue Growth ▪ Performance led execution OFFSHORE 45% › Modernization of technical support through a • New Construction: strong double-digit Gen AI and ML technologies powered 9% OF YTD GROUP REVENUE • Core In-service: low-single-di
Slide 15: Agri-Food & Commodities
Key Q1 2025 figures LEAP | 28 AGRI-FOOD & Divisional revenue Organic Revenue Growth ▪ Focused portfolio COMMODITIES 40% • Oil & Petrochemicals: low-single-digit › Acquisition of GeoAssay (264 employees and • Metals & Minerals: high-single-digit revenue of c. EUR 8m) to cement the Group’s 19% OF YTD
Slide 16: Industry
Key Q1 2025 figures LEAP | 28 Divisional revenue Organic Revenue Growth ▪ Performance led execution INDUSTRY 20% 13% • Oil & Gas Opex: high single-digit › Tech-augmentation of inspection services • Oil & Gas Capex: strong double-digit 15% progressing (eg for tank farms) 21% OF YTD GROUP REVENUE • Po
Slide 17: Buildings & Infrastructure
Key Q1 2025 figures LEAP | 28 BUILDINGS & Divisional revenue Organic Revenue Growth ▪ Focused portfolio INFRASTRUCTURE 50% • Europe: low-single-digit › Acquisition of Contec AQS (190 employees • Americas: mid-single-digit and revenue of c. EUR 30m) to expand 31% OF YTD GROUP REVENUE • Asia Pacific:
Slide 18: Certification
Key Q1 2025 figures LEAP | 28 Divisional revenue Organic Revenue Growth ▪ Performance led execution CERTIFICATION 50% › Digital Smart Certification tool: new delivery • QHSE & Specialized Schemes: high-single-digit platform to be launched for back-office support 9% OF YTD GROUP REVENUE • Sustainabil
Slide 19: Consumer Products Services
CONSUMER Key Q1 2025 figures LEAP | 28 PRODUCTS Divisional revenue Organic Revenue Growth ▪ Performance led execution SERVICES 46% • Softlines, Hardlines, Toys: mid-single-digit › Launch of a comprehensive and data- • Healthcare*: high-single-digit driven Digital Client Solution to manage 11% OF YTD
Slide 20: Outlook
05. Outlook 20
Slide 21: Customers Adapting to a Changing World
CUSTOMERS ADAPTING TO A CHANGING WORLD Urbanization Urbanization Energy transition & Energy decarbonization SECULAR TRENDS NEW CHALLENGES Brand & reputation RISK MANAGEMENT & Sustainability & MAXIMIZING IMPACT François protection François NEW REALITIES Supply chains Supply chains reconfiguration res
Slide 22: 2025 Outlook Unchanged
2025 OUTLOOK UNCHANGED While customers are navigating an uncertain period, the Group has a robust opportunities pipeline, a solid backlog, and mid-to-long-term strong market fundamentals. Therefore, Bureau Veritas keeps its outlook unchanged, and expects to deliver for the full year 2025: Mid-to-hig
Slide 23: Closing Remarks
CLOSING REMARKS › A solid backlog, an engaged workforce and a proven execution track record › An evolving macro-environment with parameters that should become clearer in the coming months › Committed to superior shareholder returns: consistent execution of the strategy and new share buyback › Focuse
Slide 24: Questions & Answers
QUESTIONS & ANSWERS Q 1 2 0 2 5 R E V E N U E 24
Slide 25: 2025 Financial Calendar
2025 FINANCIAL CALENDAR Our information is certified with blockchain technology. Check that this presentation is genuine at www.wiztrust.com AGENDA › Shareholder’s meeting: June 19, 2025 › HY 2025 results: July 25, 2025 Bureau Veritas has been ranked in the Top 3 most transparent › Q3 2025 revenue:
Slide 26: Contacts
CONTACTS I N V E S T O R R E L AT I O N S D E PA R T M E N T 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 Director +33 (0)1
Slide 27: Appendix
06. = — Appendix BUREAU VERITAS
Slide 28: Expand Leadership in Existing Strongholds
Focused portfolio M&A execution EXPAND LEADERSHIP IN KEY B&I EXISTING PRIORITIES Acquisition in YTD 2025 STRONGHOLDS BUILDINGS 2 3 1 › Contec AQS (Italy) – B&I CAPEX › Technical expertise covering Market leadership in • Market share, expertise and brand code compliance and datacenters construction,
Slide 29: Optimize Value and Impact
Focused portfolio M&A execution OPTIMIZE Acquisition in YTD 2025 VALUE AND IMPACT METALS › Opportunistic acquisition of GeoAssay (Chile), reinforcing the Group’s leading & MINERALS Agrifood & position in the Chilean copper market €8m Commodities › Mineral testing activities revenue generated • Mix o
Slide 30: Focus on Divestment of Food Testing Activities
Focused portfolio M&A execution Focus on divestment of food testing activities OPTIMIZE VALUE AND IMPACT › KPIs Rationale €133m €360m €290m • Balance sheet strengthening • Mix of businesses in mature markets FY23 revenue Enterprise value Net proceeds • Greater leeway to refocus porftolio generated f
Slide 31: Secular Drivers by Business Line
SECULAR DRIVERS BY BUSINESS LINE Marine & Offshore Buildings & Infrastructure Main secular drivers SUSTAINABILITY DRIVE ENERGY TRANSITION & Main secular drivers ENERGY TRANSITION & URBANIZATION Renewal of ageing DECARBONIZATION DECARBONIZATION Population increase and World fleet Green shipping & dec
Slide 32: CSR Commitment Maintained in Q1 2025
2028 Q1 2024 Q1 2025 target CSR Scope 1 & 2 CO2 emissions (in thousand tons)1 150 133 107 COMMITMENT Total Accident Rate (TAR)2 MAINTAINED IN 0.28 0.24 0.23 Q1 2025 Gender balance in senior leadership (EC-II)3 28.1% 27.8% 36.0% Number of learning hours 27.8 40.3 40.0 per employee (per year)4 Proport
Slide 33: 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 Advanced Negligible risk Gold Sustainability Yearbook 2024 ranked 1st in Research 73/100 (Top 1% Professional services) July 2024 77/100 and Consulting su
Slide 34: Q1 2025 Revenue by Business
Q1 2025 REVENUE BY BUSINESS REVENUE AND YEAR-ON-YEAR REVENUE GROWTH BREAKDOWN OF REVENUE €M Organic Scope Currency Marine & Offshore Marine & Offshore 136.2 +11.8% - (0.3)% 11% 9% Agri-Food & Commodities Agri-Food & Commodities 296.8 +6.0% (5.9)% (0.3)% 9% 19% Industry Industry 335.8 +14.3% +0.7% (1
Slide 35: Q1 2025 Revenue Evolution by Geography
Q1 2025 REVENUE EVOLUTION BY GEOGRAPHY REVENUE BY GEOGRAPHIC AREA REVENUE EVOLUTION BY NATURE Africa, Middle East Organic Scope Americas 11% +24.9% 26% Q1 2025 35% +4.1% +2.3% Europe +6.4% +7.5% +3.0% (1.8)% (1.8)% 28% Americas Asia Pacific Europe Africa, Middle East Asia Pacific 35
Slide 36: Currency Mix in Q1 2025
CURRENCY MIX IN Q1 2025 REVENUE CURRENCY EXPOSURE CURRENCY CHANGE (YEAR ON YEAR) OTHER 17,9% USD* +3,1% KRW 1,2% CNY +2,0% EUR 29,6% SGD 1,3% AUD (1,2)% ARS 1,3% GBP +2,4% JPY 1,4% BRL (12,8)% CAD (3,1)% HKD* 1,7% AED* +3,1% Q1 2025 SAR* 1,7% INR (1,1)% CLP 2,1% CLP +1,5% SAR* +3,0% INR 2,2% HKD* +3
Slide 37: Definition of Alternative Performance Indicators and Reconciliation with IFRS (1/2)
DEFINITION OF ALTERNATIVE PERFORMANCE INDICATORS AND RECONCILIATION WITH IFRS (1/2) 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 38: Definition of Alternative Performance Indicators and Reconciliation with IFRS (2/2)
DEFINITION OF ALTERNATIVE PERFORMANCE INDICATORS AND RECONCILIATION WITH IFRS (2/2) 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 39: 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 40: Ownership and Market Data
OWNERSHIP AND MARKET DATA SHAREHOLDING STRUCTURE AS AT 31.12.2024 MARKET DATA • Listed on Euronext-Paris Wendel group • Ticker: BVI The Capital Group • ISIN: FR0006174348 26,5% • IPO on October 2007: €9.44/share Executive Committee & Employees • Share Price1: €27.94 Treasury shares • Market Cap.1: €
Slide 41: www.bureauveritas.com
BUREAU VERITAS Shaping a World of Trust WWW.BUREAUVERITAS.coM [fy