Bureau Veritas Sa (BVRDF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Bureau Veritas Q1 2026 revenue presentation. For the first part of the conference, the participants will be on listen-only mode. During the questions and answers session, participants will be able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to the speakers. Hinda Garbi, Chief Executive Officer, and Francois Chabot, Chief Financial Officer. Please go ahead. Thank you. Good morning, good afternoon, and good evening to everyone. Welcome to Bureau Veritas' first quarter 2026 revenue presentation, and thank you for attending this call. I'm joined by François Chabat, our Chief Financial Officer. This quarter, Bureau Veritas delivered a steady performance in a changing macroeconomic environment, reflecting continuous momentum in the execution of our LEAP 28 strategy. I would like to thank our teams worldwide for their commitment and contribution. I would like now to go through our Q1 revenue performance. Revenue reached $1.5 billion. Organic revenue growth stood at 4.5%. While this quarter is slightly below historical organic growth averages, I'm pleased to see that a number of our businesses are delivering on or above expectations of setting the impact of project delays and the Middle East disruptions on others. External growth contributed 1.8% from recent Bolton acquisitions, largely offset by last year's disposals. We expect the recent mid-sized acquisition Lotusworks to take effect in half to 2026. As expected, the appreciation of the euro against most currencies led to a negative currency impact of 5.2% in the quarter. I will elaborate further on our new full-year growth guidance at the end of this presentation. I'd like to say, though, that this year is shaped by complex geopolitics and our deci...