PARIS: Bureau Veritas posted robust first-half results for 2025, fueled by strong organic revenue growth and margin expansion as the company accelerated the execution of its LEAP | 28 strategic plan.
The inspection and certification giant reaffirmed its full-year outlook, citing resilient performance across regions and industries and tangible gains from ongoing performance programs.
Key Financial Metrics
- Revenue: EUR 3.19 billion, up 5.7% YoY; organic growth of 6.7%
- Adjusted operating profit: EUR 491.5 million (+8.8% YoY); margin expanded by 44 bps
- Operating profit: EUR 513.1 million (+32.1% YoY)
- Adjusted net profit: EUR 292.4 million (+1.4% YoY)
- Attributable net profit: EUR 322.3 million (+37.6% YoY)
- Free cash flow: EUR 168 million; impacted by Food Testing business divestment
- Net debt/EBITDA: 1.11x (stable YoY)
Strategy Execution & Portfolio Development
The LEAP | 28 strategy continued to drive broad-based growth, with six bolt-on acquisitions completed or signed between April and July, reinforcing portfolio priorities in infrastructure, utilities, renewables, cybersecurity, and sustainability. The company also wrapped up a EUR 200 million share buyback program, equivalent to 1.5% of outstanding shares, in a move to boost shareholder returns.
Bureau Veritas implemented leadership changes within its Executive Committee to enhance regional integration and streamline performance programs. CEO Hinda Gharbi highlighted that cost actions had been strategically introduced to support clients amid a volatile environment.
“We delivered 6.7% organic growth and a 44-basis-point margin increase in the first half,” Gharbi said. “Our diversified portfolio and operational resilience provide confidence in our full-year targets.”
Full-Year 2025 Outlook (Confirmed)
- Mid-to-high single-digit organic revenue growth
- Margin improvement at constant exchange rates
- Strong cash generation with >90% cash conversion