Bureau Veritas SA (XPAR:BVI)
€ 28.1 +0.10 (+0.36%) Market Cap: 12.45 Bil Enterprise Value: 14.18 Bil PE Ratio: 23.58 PB Ratio: 6.71 GF Score: 92/100
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Full Year 2024 Bureau Veritas SA Earnings Call Transcript

Feb 25, 2025 / 02:00PM GMT
Release Date Price: €30.44 (-2.75%)

Key Points

Positve
  • Bureau Veritas SA (BVRDF) reported a revenue of EUR6.2 billion for 2024, marking a 6.4% increase on a reported basis and 10.2% organically.
  • The company achieved a record high free cash flow of EUR843 million, representing 13.5% of revenue and a 27.9% year-on-year growth.
  • Adjusted operating profit increased by 7.1% to EUR996 million, with a margin of 16%, showing a year-on-year improvement.
  • Bureau Veritas SA (BVRDF) improved its nonfinancial ratings and was included in the Carbon Disclosure Project A-List.
  • The company demonstrated strong growth in sustainability, energy, decarbonization, and cyber sectors, with over 50% of the portfolio delivering high single-digit or double-digit organic growth.
Negative
  • The company faced foreign exchange headwinds, which negatively impacted total growth by 4.3% on a reported basis.
  • Agri-Food & Commodities segment experienced a margin decline of 91 basis points due to a negative mix effect from metals and minerals.
  • The Building & Infrastructure business in China contracted following government spending reductions.
  • The Technology segment within Consumer Products contracted slightly in 2024, facing decreased demand for wireless and mobility products.
  • Bureau Veritas SA (BVRDF) acknowledged the need for acceleration in M&A to build capabilities and footprint, indicating potential challenges in achieving growth targets without acquisitions.
Operator

Hello, welcome to the Bureau Veritas Full Year 2024 Results. My name is Caroline, and I will be your coordinator for today's event. Please note, this call is being recorded. (Operator Instructions)

Today's conference, we have Hinda Gharbi, the CEO; and Francois Chabas, the CFO and Executive VP.

I will now hand over the call to your host, Hinda Gharbi, the CEO, to begin today's conference. Thank you.

Hinda Gharbi
Bureau Veritas SA - Chief Executive Officer, Member of the Executive Committee

Thank you, Caroline. Good morning, good afternoon and good evening to everyone. Welcome to the full year 2024 results on the webcast or on the call. I'm joined by Francois Chabas, our group CFO. In the past year, Bureau Veritas delivered on its strategic commitments, demonstrating a strong performance of the top line, the margins, earnings per share and cash I'm delighted to report that we have exceeded all the objectives we set for 2024 showing predictability in our execution while navigating a complex macro environment.

This robust financial

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