Excellent 2023 Performance: Strong Growth and Record Earnings; Confident of Strong Growth in 2024
22 2월 2024 - 5:44PM
Business Wire
Regulatory News:
2023 Key Figures1
- Revenue of EUR 5,867.8 million for the full year 2023, up 8.5%
organically and up 3.8% on a reported basis (including a positive
0.6% scope effect and a negative 5.3% currency fluctuations)
- In the fourth quarter, organic revenue growth achieved
9.4%
- Adjusted operating profit of EUR 930.2 million, up 3.1% versus
EUR 902.1 million in 2022, representing an adjusted operating
margin of 15.9%, down c.10 basis points on a reported basis, and up
20 basis points organically at 16.2% (of which +c.50bps in H2
2023)
- Operating profit of EUR 824.4 million, up 3.1% versus EUR 799.3
million in 2022
- Attributable net profit of EUR 503.7 million, up 7.9% versus
EUR 466.7 million in 2022
- Adjusted net profit of EUR 574.7 million (adjusted EPS of EUR
1.27 per share), up 7.6% versus EUR 533.9 million in 2022 and up
17.6% at constant currency
- Free cash flow of EUR 659.1 million (11% of Group revenue), up
0.3% year-on-year and 5.5% at constant currency, led by disciplined
capex policy and working capital management
- Adjusted net debt/EBITDA ratio2 reduced to 0.92x as of December
31, 2023, versus 0.97x last year
- Proposed dividend of EUR 0.83 per share3, up 7.8% year-on-year,
payable in cash
2023 Highlights
- Appointment of a new CEO and strengthening of the Executive
Committee to support future growth ambitions
- 2023 financial targets exceeded on all metrics
- Over 80% of the portfolio delivered at least mid-to-high single
digit or double-digit organic revenue growth driven by good
momentum in the sales pipeline
- Strong growth in every region (Americas, Middle East, Europe,
Africa and Asia-Pacific), substantially outperforming many
underlying markets
- Strong momentum maintained for Sustainability and energy
transition solutions across the entire portfolio
- Acquisition of two bolt-on companies further diversifying
Consumer Products Services adding annualized revenue of c. EUR 28
million. This includes ANCE, the leading player in Mexico for
Electrical and Electronics products (c. EUR 21 million of revenue),
announced today
- Good progress towards the achievement of the 2025 CSR
ambitions; commitment recognized by several non-financial rating
agencies, including a first ranking in the 2023 S&P Global
rating (DJSI); mid-term GHG emissions targets approved by the
Science Based Targets initiative (SBTi)
2024 Outlook
Leveraging a healthy and growing sales pipeline, high customer
demand for ‘new economy services’ and strong underlying market
growth, Bureau Veritas expects to deliver for the full year
2024:
- Mid-to-high single-digit organic revenue growth;
- Improvement in adjusted operating margin at constant exchange
rates;
- Strong cash flow, with a cash conversion above 90%.
The Group expects H2 organic revenue growth above H1 (with
stronger comparables in H1).
Hinda Gharbi, Chief Executive Officer, commented:
“We delivered very strong results in 2023, reflecting our robust
business fundamentals, our consistent execution and our customer
centricity around the globe. We achieved organic growth of 8.5%, a
healthy organic margin of 16.2%, and record earnings per share of
EUR 1.27, up over 17% at constant exchange rates.
I would like to warmly thank all our colleagues around the world
for their dedication and hard work to deliver this outstanding
performance.
I also want to thank our shareholders for their continued
support. As a result of our robust cash flow generation and
financials, the Board is recommending a dividend increase of 8%
compared to last year.
I am convinced that we can take Bureau Veritas to higher levels
of performance and achievement. Our portfolio of leading global
business lines, strong execution track record and exposure to
positive secular trends are key contributors to our current
performance and a great foundation for future outperformance.
Specifically, we expect powerful demand for services supporting
transition to sustainable development models, evolving buildings
integrity needs, growing infrastructure investment and increased
spending in low-carbon energy development. Our current pipeline of
opportunities in these business areas is a testament to this
durable growth dynamic. I look forward to updating the market with
our vision and new strategy at our Capital Markets Day on March
20th.
For 2024, we expect Bureau Veritas to deliver another strong
year of organic revenue growth, margin expansion4 and strong cash
conversion.”
Click here to download the complete Press Release.
About Bureau Veritas
Bureau Veritas is a world leader in laboratory testing,
inspection and certification services. Created in 1828, the Group
has circa 82,000 employees located in nearly 1,600 offices and
laboratories around the globe. Bureau Veritas helps its 400,000
clients improve their performance by offering services and
innovative solutions in order to ensure that their assets,
products, infrastructure and processes meet standards and
regulations in terms of quality, health and safety, environmental
protection and social responsibility.
Bureau Veritas is listed on Euronext Paris and belongs to the
CAC 40 ESG, CAC Next 20, CAC 40 SBT 1.5, and SBF 120 indices.
Compartment A, ISIN code FR 0006174348, stock symbol: BVI.
For more information, visit www.bureauveritas.com, and follow us
on Twitter (@bureauveritas) and LinkedIn.
1 Alternative performance indicators are presented, defined and
reconciled with IFRS in appendices 6 and 8 of this press release. 2
Ratio of adjusted net financial debt divided by consolidated EBITDA
(earnings before interest, tax, depreciation, amortization and
provisions), adjusted for any entities acquired over the last 12
months. 3 Proposed dividend, subject to Shareholders’ Meeting
approval on June 20, 2024. 4 At constant currency
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ANALYST/INVESTOR CONTACTS Laurent Brunelle +33 (0)1 55 24
76 09 laurent.brunelle@bureauveritas.com
Colin Verbrugghe +33 (0)1 55 24 77 80
colin.verbrugghe@bureauveritas.com
Karine Ansart +33 (0)1 55 24 76 19
karine.ansart@bureauveritas.com
MEDIA CONTACTS Anette Rey + 33 (0)6 69 79 84 88
anette.rey@bureauveritas.com
Bureau Veritas (EU:BVI)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Bureau Veritas (EU:BVI)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024