Bureau Veritas Sa (BVRDF) Q4 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:03.034 Good morning, good afternoon, and good evening to everyone. 00:00:03.034 -- 00:00:07.319 Thank you for joining us for our full year 2025 results. 00:00:07.319 -- 00:00:10.682 I'm joined by François Chabat, our Group CFO. 00:00:10.682 -- 00:00:15.748 In keeping with our solid plan execution, 2025 delivered sector-leading organic 00:00:15.748 -- 00:00:20.853 growth and strong margin progression. In the second year of our Leap 28 strategy, we 00:00:20.853 -- 00:00:26.199 delivered results fully aligned with our ambition to accelerate growth and enhance 00:00:26.199 -- 00:00:31.925 returns. During the year, we implemented our new organization, which is now accelerating 00:00:31.925 -- 00:00:37.612 strategy execution across our geographic platforms and product lines. 00:00:37.612 -- 00:00:42.197 Our results reflect a strengthened portfolio, the tangible impact of our performance 00:00:42.197 -- 00:00:45.221 programs, and efficient capital allocation. 00:00:45.221 -- 00:00:51.127 I'm proud of our leaders and their teams' contributions across the world and of the consistency 00:00:51.127 -- 00:00:54.571 in delivery in a fast-changing market. 00:00:54.571 -- 00:00:57.262 Let me start with our financial highlights for the year. 00:00:57.262 -- 00:00:59.009 2025 00:00:59.009 -- 00:01:04.111 was the second year of our LEAP28 strategy, and we continue to gain traction across all 00:01:04.111 -- 00:01:05.945 pillars. 00:01:05.945 -- 00:01:11.231 We delivered 6.5% organic revenue growth, including 6.3% in the 00:01:11.231 -- 00:01:16.778 last quarter of the year. Adjusted operating margin of 16.3%, up 32 00:01:16.778 -- 00:01:21.263 basis points year-on-year and 51 basis points at constant currency. 00:01:21.263 -- 00:01:26.709 Adjusted earning ...