Bureau Veritas Sa · EURONEXT:BVI
Bureau Veritas Sa — Q1 2021 Earnings Presentation
39 slides from Bureau Veritas Sa's earnings presentation, 2021
Slide 1: Bureau Veritas Q1 2021 Revenue
BUREAU
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 HIGHLIGHTS FINANCIAL REVIEW BUSINESS REVIEW OUTLOOK Q&A APPENDIX
Slide 4: Highlights
HIGHLIGHTS
Slide 5: Health & Safety, clients' service, and financial solidity at the core of our actions
Health & Safety, clients’ service, and financial solidity at the core of our actions Ensuring employee Health & Safety Ensuring business continuity with and for clients Protecting the financial solidity of the Group OUR TEAMS REMAIN HIGHLY MOBILIZED & PROACTIVE Q1 2021 REVENUE 5
Slide 6: Key developments in Q1 2021
Key developments in Q1 2021 Organic revenue Reaping the reward of recovery our diversified business Expertise for Accelerating momentum with Sustainability BV Green Line of services & solutions Focusing on cybersecurity, Chinese Bolt-on M&A domestic market and renewable energy Q1 2021 REVENUE 6
Slide 7: Q1 2021 highlights
Q1 2021 highlights ORGANIC REVENUE GROWTH OF 6.6% • 3 businesses delivered strong organic growth, Certification +21.6%, Consumer Products +18.7%, and Buildings & Infrastructure (B&I) +13.3% REVENUE • Marine & Offshore maintained a solid 3.4% growth, against challenging comparables • Agri-Food & Comm
Slide 8: A significant portion of Group revenue contributing to sustainable development
A significant portion of Group revenue contributing to sustainable development REVENUE CONTRIBUTING TO SUSTAINABLE DEVELOPMENT - FY 2020 DATA IN PERCENTAGE OF GROUP REVENUE • The Group’s services inherently contribute toward sustainable development • An analysis of 65% of Bureau Veritas operations i
Slide 9: Financial Review
FINANCIAL REVIEW
Slide 10: Strong organic growth in Q1 2021 fueled by more than half of the portfolio
Strong organic growth in Q1 2021 fueled by more than half of the portfolio Q1 2021 PORTFOLIO SPLIT IN PERCENTAGE OF GROUP REVENUE SEQUENTIAL IMPROVEMENT GROUP ORGANIC GROWTH Double-digit organic growth for 58% of +6.6% 58% the Group’s portfolio (2.0)% A BALANCED • Continuing strong recovery from (1.
Slide 11: Q1 2021 total revenue growth of 1.3%
Q1 2021 total revenue growth of 1.3% REVENUE EVOLUTION VARIATION ANALYSIS +6.2% at constant currency +6.6% 1,139.5 1,154.7 (0.4)% (4.9)% Q1 2020 Organic 1 Scope Currency Q1 2021 (1) Alternative performance indicators are presented, defined and reconciled with IFRS in appendix of this presentation Q1
Slide 12: Q1 2021 revenue growth by business
Q1 2021 revenue growth by business % of @ constant revenue currency 30% Buildings & Infrastructure (0.9)% +13.3% +12.4% 22% Agri-Food & Commodities (3.6)% (3.6)% 20% Industry (1.2)% (0.4)% (1.6)% 12% Consumer Products +18.7% +18.7% 8% Marine & Offshore +3.4% +3.4% 8% Certification +21.6% +2.7% +24.3
Slide 13: Resumption of disciplined M&A in 2021
Resumption of disciplined M&A in 2021 ACCELERATING GROWTH IN RENEWABLE ENERGY MARKET CYBER & CONSUMER PRODUCTS TEXAS, APRIL €11m (additional revenue), NETHERLANDS, JANUARY 50 employees c.€10m (additional revenue), • Provides owner's representation as well as construction and site 100 employees manag
Slide 14: Business Review
BUSINESS REVIEW
Slide 15: Q1 2021 performance demonstrated strong recovery potential (1/3)
Bureau Veritas’ Q1 2021 performance demonstrated the strong recovery potential of its portfolio of activities (1/3) Marine & Offshore Agri-Food & Commodities organic organic growth growth • Low single-digit growth in New Construction • Agri-Food: mid-single-digit organic improvement, led by both Foo
Slide 16: Q1 2021 performance demonstrated strong recovery potential (2/3)
Bureau Veritas’ Q1 2021 performance demonstrated the strong recovery potential of its portfolio of activities (2/3) Industry Buildings & Infrastructure organic organic growth growth • High single-digit growth for Power & Utilities – key growth • Major organic growth in Asia Pacific led by the recove
Slide 17: Q1 2021 performance demonstrated strong recovery potential (3/3)
Bureau Veritas’ Q1 2021 performance demonstrated the strong recovery potential of its portfolio of activities (3/3) Certification Consumer Products organic organic growth growth • Strong recovery driven by a catch-up of 2020 postponed • Recovery driven by a large pickup of activity in China (up audi
Slide 18: Outlook
OUTLOOK
Slide 19: 2021 Outlook confirmed
Option 2 2021 Outlook confirmed The Group remains uniquely positioned with the diversity, the resilience of its portfolio and its numerous growth opportunities. Based on the current uncertainties around the Covid-19 pandemic and assuming no severe lockdowns in its main countries of operation, Bureau
Slide 20: Good start to the year with strong organic revenue growth in Q1 2021
Good start to the year with strong organic revenue growth in Q1 2021 Health & Safety is an absolute at Bureau Veritas Q1 showed a strong organic revenue recovery, which bodes well to confirm 2021 outlook, in a volatile environment Double-digit organic growth on average for 58% of the Group’s portfol
Slide 21: Q&A
Te28, BUREAU VERITAS Q&A
Slide 22: 2021 Financial Calendar & Contacts
2021 Financial Calendar & Contacts 2021 AGENDA INVESTOR RELATIONS DEPARTMENT Shareholders’ meeting: June 25, 2021 BUREAU VERITAS HEAD OFFICE – 40/52 BOULEVARD DU PARC 92200 NEUILLY-SUR-SEINE, FRANCE H1 2021 results: July 28, 2021 Q3 2021 revenue: October 26, 2021 Laurent Brunelle Head of Investor Re
Slide 23: Appendix
Te28 BUREAU VERITAS APPENDIX
Slide 24: Bureau Veritas vision is to become the CSR leader in the TIC industry
Bureau Veritas vision is to become the CSR leader in the TIC 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 & solutions CSR strategy supporting CSR commitment All SDGs are impacted with more or less
Slide 25: CSR Key Performance Indicators
Option 2 CSR Key Performance Indicators Q1 2021 FY 2020 2025 target Total Accident Rate (TAR)1 0.27 0.26 0.26 Proportion of women in leadership positions (senior/executive 19.9% 19.8% 35% management roles from the Executive Committee to Band III) 2 Number of training hours per employee (per year) 3
Slide 26: Q1 2021 revenue by business
Q1 2021 revenue by business REVENUE AND YEAR-ON-YEAR REVENUE GROWTH BREAKDOWN OF REVENUE Q1 2021 IN EUR MILLIONS €m Organic Scope Currency Marine & Offshore 94.1 +3.4% - (3.7)% Marine & Offshore 12% 8% Agri-Food & Commodities Agri-Food & Commodities 249.2 (3.6)% - (5.0)% 8% 22% Industry Industry 232
Slide 27: Marine & Offshore (8% of revenue)
Marine & Offshore (8% of revenue) KEY FINANCIALS Q1 2021 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS Q1 2021 Q1 2020 Change • The Group continued to deliver “essential services” driving the solid organic performance Low single-digit growth Revenue 94.1 94.4 (0.3)% in New Construction Organic +3.4% • New
Slide 28: Agri-Food & Commodities (22% of revenue)
Agri-Food & Commodities (22% of revenue) KEY FINANCIALS Q1 2021 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS Q1 2021 Q1 2020 Change • O&P: double-digit organic decline; Slowdown in demand for TIC services in Revenue Organic 249.2 272.7 (8.6)% (3.6)% the Group’s main markets on lower fuel Agri-Food in Asia
Slide 29: Industry (20% of revenue)
Industry (20% of revenue) KEY FINANCIALS Q1 2021 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS Q1 2021 Q1 2020 Change • Opex-related activities (approx. 60% of divisional revenue) showed their resiliency Revenue 232.5 253.3 (8.2)% driven by Latin America notably Power & Utilities Organic (0.4)% business Ac
Slide 30: Buildings & Infrastructure (30% of revenue)
Buildings & Infrastructure (30% of revenue) KEY FINANCIALS Q1 2021 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS Q1 2021 Q1 2020 Change Building In-Service (49% of divisional revenue): high single-digit organic growth China Revenue 347.2 318.2 +9.1% Organic +13.3% • Led by US (large project management (14%
Slide 31: Certification (8% of revenue)
Certification (8% of revenue) KEY FINANCIALS Q1 2021 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS Q1 2021 Q1 2020 Change • Strong recovery driven by a catch-up of 2020 postponed audits and the success of new Revenue Organic 91.9 76.6 +20.0% +21.6% services developed including “Restart Your Sustainability
Slide 32: Consumer Products (12% of revenue)
Consumer Products (12% of revenue) KEY FINANCIALS Q1 2021 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS Q1 2021 Q1 2020 Change • Strong recovery led by a large pickup of activity in China (up 38.2%), across all product categories Revenue 139.8 124.3 +12.5% South East Asia Organic +18.7% • Softlines: perfor
Slide 33: Q1 2021 revenue evolution by geography
Q1 2021 revenue evolution by geography REVENUE BY GEOGRAPHIC AREA REVENUE EVOLUTION BY NATURE Organic growth Acquisition growth Asia Americas Pacific 23% +20.3% 30% Africa, +2.5% Middle East +0.6% +0.8% 8% Europe 39% (0.8)% (0.2)% (0.3)% (0.2)% +2.3% +0.8% +20.0% Americas Europe Africa, Asia Pacific
Slide 34: Currency mix in Q1 2021
Currency mix in Q1 2021 REVENUE CURRENCY EXPOSURE CURRENCY CHANGE (YEAR ON YEAR) OTHER RUB 0.8% 10.9% USD (and pegged) (8.5)% VND 0.9% PEN 0.9% CNY (1.4)% XOF 1.0% AUD +7.7% COP 1.1% GBP (1.3)% KRW 1.3% EUR 31.9% SGD 1.4% CAD (2.9)% TWD 1.5% CLP +1.6% INR 1.8% BRL (25.5)% JPY 2.2% JPY (6.0)% BRL 2.4
Slide 35: 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 DEC. 31, 2020 DEBT BREAKDOWN Repaid on January 21, 2021 Bond 2% 2% 0.2% 163 43 USPP China Loan 21% Bond Other USPP Fixed rate China Loan Floating rate Other 500 500 500 500 75% 99.8% 200 163 163 126 68
Slide 36: 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 37: 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 38: 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 39: Shaping a World of Trust
|BUREAU | Shaping a World of Trust