Core Insights - Bureau Veritas is expanding its presence in Cybersecurity, Nuclear, and Transition Services through three targeted acquisitions, enhancing its portfolio in high-growth markets [1][2]. Group 1: Acquisitions Overview - The company has signed an agreement to acquire Dornier Hinneburg in Germany, which will strengthen its capabilities in the nuclear sector, focusing on technical advisory services and radiation protection related to decommissioning nuclear facilities. This subsidiary generated €14 million in revenue in 2024 and employs 108 experts [5]. - Bureau Veritas is acquiring the Institute For Cyber Risk (IFCR) in Denmark to establish a foothold in the Nordic cybersecurity market. IFCR specializes in Governance, Risk, and Compliance (GRC), offensive security, and cybersecurity training, generating €3 million in revenue in 2024 with a team of 25 skilled professionals [5]. - The acquisition of EcoPlus in South Korea will enhance Bureau Veritas' sustainability consulting services, particularly in Life Cycle Assessment (LCA) certification. EcoPlus is a growing startup with approximately €1 million in revenue and integrates 12 skilled engineers [5]. Group 2: Strategic Intent - These acquisitions align with Bureau Veritas' LEAP I 28 strategy, which focuses on a targeted portfolio approach to accelerate growth and create new strongholds in high-growth markets [2][5]. - The company aims to expand its geographical footprint and deliver greater value to customers in specialized fields through these strategic moves [2].

Q1 2025 Financial Highlights - Revenue grew by 5.2%, with organic revenue growth of 7.6%[8] - Adjusted Net Income increased by 31.1%[8] - Adjusted EBITDA increased by 22.9%, with Adjusted EBITDA margin up by 320 bps[8] - Free Cash Flow generated was $306 million for the last twelve months ended March 31, 2025[8] Q1 2025 Revenue Breakdown - Industrial segment revenue increased by 4.4% (8.1% organic) to $308 million[20, 40] - Consumer segment revenue increased by 6.3% (7.7% organic) to $304 million[24, 40] - Software and Advisory segment revenue increased by 4.5% (5.6% organic) to $93 million[27, 40] Q1 2025 Adjusted EBITDA - Adjusted EBITDA increased by 22.9% to $161 million, with a margin of 22.8%[13] Q1 2025 Adjusted Net Income - Adjusted Net Income increased by 31.1% to $80 million, with a margin of 11.3%[16] Full-Year 2025 Outlook - The company is affirming its 2025 outlook, which includes mid-single-digit constant currency organic revenue growth[34, 36] - Adjusted EBITDA margin organic improvement to approximately 24%[36] - Capital expenditures are expected to be 7% to 8% of revenue[36]