Bureau Veritas Sa (BVRDF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

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 Gharbi, Chief Executive Officer, and Francois Chaba, Chief Financial Officer. Please go ahead. Good morning, good afternoon, and good evening to everyone. Thank you for joining us for our Health Year 2026 results. I'm joined by Francois Chabas, our Group CEO. The first half of 2026 demonstrates disciplined execution and the accelerating impact of our LEAP28 strategy. Operationally, we delivered 5% organic growth in the first half, with a sequential acceleration in the second quarter to 5.5% in a complex geopolitical environment. We also expanded margins, increased adjusted EPS, and maintained solid cash generation. Regarding the compliance deviations that we disclosed in April 26, we have completed our review, informed the authorities, and stopped the contracting questions. Based on our current assessment, we recorded a $32 million provision as of June 30, 2026, reflecting our best estimate to date of the full financial impact we may face. Our portfolio transformation is on track. During the first half of 26, we continued to reshape our portfolio. We announced the acquisition of Lotus Works, a leading specialist in mission-critical assets, and signed an agreement to divest our oil and petrochemicals and coal activities. We confirmed our decision to exit the legacy government services subsector. The exit process is already underway, and it will be almost completed by year end. This will be done in strict adherence with our contractual commitments to our clients. When sharing our full year 2025 r...