Bureau Veritas Sa · EURONEXT:BVI
Bureau Veritas Sa — Q1 2024 Earnings Presentation
36 slides from Bureau Veritas Sa's earnings presentation, Apr 25, 2024
Slide 1: Q1 2024 Revenue
AI-generated picture Q1 2024 April 25, 2024 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 HIGHLIGHTS FINANCIAL REVIEW PORTFOLIO BUSINESS OUTLOOK HIGHLIGHTS 3 Bureau Veritas Group | C2 - Internal
Slide 4: Highlights
01. Highlights 4
Slide 5: Q1 2024 Highlights: Organic Growth
ORGANIC GROWTH Q1 2024 HIGHLIGHTS +8.0% With particularly strong performance for 3 businesses €1.44bn EXTERNAL GROWTH +2.5% total growth Contribution from recent bolt-on acquisitions (+8.1% at cc) +0.1% offset by a small disposal last year CURRENCY IMPACT Depreciation of some emerging countries’ (5.
Slide 6: Key Q1 2024 Events
LEAP | 28 strategy launched › During our Capital Markets Day on March 20 €200m 2024 share buyback program announced as part of LEAP | 28 › €100m realized on April 4, representing c.0.8% of Group KEY Q1 2024 share capital EVENTS › Remaining €100m will be executed throughout 2024 First Long-Term Credi
Slide 7: CSR Commitment Accelerated
CSR COMMITMENT ACCELERATED 2028 › SUSTAINALYTICS Q1 2024 Q1 2023 target #1 of ‘Research and Consulting’ category Total Accident Rate (TAR)1 0.28 0.27 0.23 out of 72 companies Classified “Negligible risk” category Gender balance in senior 28% 30% 36% leadership (EC-II)2 Number of learning hours › GLO
Slide 8: Strong Organic Growth Driven by Robust Market Trends
STRONG ORGANIC GROWTH DRIVEN BY ROBUST MARKET TRENDS GROWTH LED BY ALL BUSINESSES BROAD GROWTH ACROSS ALL REGIONS SIZE OF BOXES IN PROPORTION OF GROUP REVENUE IN PERCENTAGE OF GROUP REVENUE Cumulative revenue Africa, Middle East IND DOUBLE-DIGIT +19.9% 37% ORGANIC GROWTH 10% organic growth CER Rangi
Slide 9: Executing Our Consumer Technology Testing Strategy
EXECUTING OUR CONSUMER TECHNOLOGY TESTING STRATEGY NEW STRONGHOLDS 3 ACQUISITIONS IN Q1 2024 : SECTOR & GEOGRAPHIC DIVERSIFICATION › TECHNOLOGY: testing and certification services companies for electrical and electronics › Regulatory and performance testing for solar, products in South Korea lightin
Slide 10: Financial review
02. = ~ » FJ Financial. review BUREAU VERITAS
Slide 11: Q1 2024 Total Revenue Growth of 2.5%
Q1 2024 TOTAL REVENUE GROWTH OF 2.5% REVENUE EVOLUTION VARIATION ANALYSIS In € million +8.1% at constant currency +8.0% +0.1% (5.6)% 1,404.5 1,439.5 1 (1) Alternative performance indicators are presented, defined and reconciled with IFRS in appendix of this presentation 11 Bureau Veritas Group | C2
Slide 12: Q1 2024 Revenue Growth by Business
Q1 2024 REVENUE GROWTH BY BUSINESS % of @ constant revenue currency 31% Buildings & Infrastructure +3.6% +3.6% 21% Agri-Food & Commodities +3.2% +3.2% 20% Industry (2.5)% +16.3% +13.8% 12% Consumer Products +6.1% +5.4% +11.5% 8% Marine & Offshore +13.6% +13.6% 8% Certification +13.7% +13.7% 100% Tot
Slide 13: Credit Rating by Moody's: A3 Rating
BUREAU VERITAS HAS BEEN ASSIGNED ITS FIRST LONG-TERM CREDIT RATING BY MOODY’S According to Moody’s A3 rating is supported by the Group : ▪ Leading market position, protected by high barriers to entry, and well diversified business model; ▪ Long track record of positive organic growth through the cyc
Slide 14: Portfolio business highlights
03. Portfolio business highlights 14
Slide 15: Marine & Offshore
Key Q1 figures Business highlights MARINE & Organic Revenue Growth 40%* OFFSHORE • New Construction: double-digit • Core In-service: double-digit › Cybersecurity certificate for a pioneering maritime digital player 8% OF YTD GROUP REVENUE 47%* • Services: mid-single-digit 13%* +13.6% - (5.6)% 122.1
Slide 16: Agri-Food & Commodities
Key Q1 figures Business highlights AGRI-FOOD & 32%* Organic Revenue Growth • Oil & Petrochemicals: mid-single-digit COMMODITIES 31%* • Metals & Minerals: stable › Ramp up of new Metals & Minerals lab in Jeddah servicing gold and precious • Agri-Food: mid-single-digit 21% OF YTD GROUP REVENUE metals
Slide 17: Industry
Key Q1 figures Business highlights Organic Revenue Growth 22%* • Oil & Gas Opex: double-digit › INDUSTRY 11%* 12%* • Oil & Gas Capex: double-digit Partnership with Inthy and the Bourgogne Franche-Comté region in 17%* • Power & Utilities: low-to-mid single digit contraction France to launch Europe's
Slide 18: Buildings & Infrastructure
Key Q1 figures Business highlights Organic Revenue Growth › BUILDINGS & 51%* • Europe: mid-single-digit Contract for supervision of a metro line construction by Land INFRASTRUCTURE • Americas: low-single-digit Transport Authority in Singapore 26%* • Asia Pacific: mid-single-digit 31% OF YTD GROUP RE
Slide 19: Certification
Key Q1 figures Business highlights Organic Revenue Growth › Integrated exclusive framework CERTIFICATION 48%* • QHSE & Specialized Schemes: high-single digit agreement with a European industry • Sustainability** & Digital (Cyber) : double-digit beverage leader covering multiple 8% OF YTD GROUP REVEN
Slide 20: Consumer Products Services
CONSUMER Key Q1 figures Business highlights PRODUCTS 46%* Organic Revenue Growth • Softlines, Hardlines, Toys: high-single-digit › 5G smart phone testing in China SERVICES 9%* • Healthcare**: double-digit › Exclusive provider of testing and 12% OF YTD GROUP REVENUE 14%* • Supply Chain & Sustainabili
Slide 21: Outlook
04. Outlook 21
Slide 22: 2024 Outlook Confirmed
2024 OUTLOOK CONFIRMED Leveraging a healthy and growing sales pipeline, high customer demand for ‘new economy services’ and a strong underlying market growth, Bureau Veritas expects to deliver for full year 2024: Mid-to-high Strong cash Improved single-digit flow, adjusted organic with a cash operat
Slide 23: Closing Remarks
CLOSING REMARKS › LEAP | 28 strategy execution started › An excellent start to the year confirming our 2024 outlook › Market trends confirm Bureau Veritas medium-term growth prospects 23 Bureau Veritas Group | C2 - Internal
Slide 24: Questions & Answers
QUESTIONS & ANSWERS Q 1 2 0 2 4 R E V E N U E 24 Bureau Veritas Group | C2 - Internal
Slide 25: 2024 Financial Calendar
2024 FINANCIAL CALENDAR Our information is certified with blockchain technology. Check that this presentation is genuine at www.wiztrust.com AGENDA › Shareholders’ meeting: June 20, 2024 › Half year 2024 results: July 26, 2024 Bureau Veritas has been ranked in the Top 20 most transparent companies o
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 Manager +33 (0)1 5
Slide 27: Appendix
05. Appendix: BUREAU VERITAS
Slide 28: 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 2nd in Research 70/100 76/100 Sustainability Yearbook 2024 July 2023 October 2022 and Consulting subindustry (Top 1% Pro
Slide 29: Q1 2024 Revenue by Business
Q1 2024 REVENUE BY BUSINESS REVENUE AND YEAR-ON-YEAR REVENUE GROWTH BREAKDOWN OF REVENUE €M Organic Scope Currency Marine & Offshore Marine & Offshore 122.1 +13.6% - (5.6)% 12% 8% Agri-Food & Commodities Agri-Food & Commodities 297.3 +3.2% - (5.0)% 8% 21% Industry Industry 295.6 +16.3% (2.5)% (13.7)
Slide 30: Q1 2024 Revenue Evolution by Geography
Q1 2024 REVENUE EVOLUTION BY GEOGRAPHY REVENUE BY GEOGRAPHIC AREA REVENUE EVOLUTION BY NATURE Organic Scope Asia Americas Pacific 27% 27% Q1 2024 Africa, +0.4% +19.9% +0.1% Middle East 10% +8.0% +5.6% +7.0% Europe 36% (0.1)% Americas Europe Africa, Asia Pacific Middle East 30 Bureau Veritas Group |
Slide 31: Currency Mix in Q1 2024
CURRENCY MIX IN Q1 2024 REVENUE CURRENCY EXPOSURE CURRENCY CHANGE (YEAR ON YEAR) OTHER ARS 14,6% PEN 0,8% USD (and pegged) (1.2)% 1,0% EUR CNY (5.9)% TWD COP AUD (4.9)% 30,4% 1,1% 1,1% CAD (0.9)% SGD 1,2% GBP +3.1% JPY BRL +3.7% 1,5% INR CLP (15.4)% CLP JPY (11.9)% 2,0% 2,0% Q1 2024 GBP TWD (4.4)% 3
Slide 32: 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 33: 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 34: 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 35: Ownership and Market Data at March 31, 2024
OWNERSHIP AND MARKET DATA AT MARCH 31, 2024 A mettre à jour STABLE SHAREHOLDING STRUCTURE MARKET DATA • Listed on Euronext-Paris • Ticker: BVI • ISIN: FR0006174348 Wendel group • IPO on October 2007: €9.44/share 35,4% • Share Price1: €28.28 The Capital Group • Market Cap.1: €12.8bn Executive Committ
Slide 36: www.bureauveritas.com
BUREAU VERITAS Shaping a World of Trust WWW.BUREAUVERITAS.com iJ