Core Insights - Bureau Veritas has appointed Santiago Arias Duval as Executive Vice-President for the Americas region, effective November 17, 2025, aligning with the company's new operating model initiated on September 1, 2025 [2][4]. Company Structure and Strategy - The restructuring of the executive committee aims to enhance organizational alignment and empower regional operations with scalable product lines, facilitating global solutions development and cross-selling opportunities [3][4]. - The Americas region is established to capitalize on rapidly developing market opportunities across North, Central, and South America, with a focus on expanding leadership across product lines and creating strongholds in high-growth markets [4]. Leadership and Experience - Santiago Arias Duval will report to Hinda Gharbi, the CEO of Bureau Veritas, and will be part of the Group Executive Committee [5]. - Hinda Gharbi expressed confidence in Santiago's ability to drive growth and performance in the Americas, leveraging his extensive industrial experience and proven business achievements [6]. - Santiago has a strong background, having served as Senior Vice President and General Manager at Ingersoll Rand, where he was responsible for strategy, operations, and commercial performance across various industries [7][8]. Educational Background - Santiago holds an MBA from the Massachusetts Institute of Technology (MIT) and a Bachelor of Science in Electrical Engineering from the Georgia Institute of Technology [10]. Company Overview - Bureau Veritas is a global leader in inspection, certification, and laboratory testing services, with a mission to ensure responsible progress and support customers in navigating change [12]. - Established in 1828, the company employs 84,000 people and operates in 140 countries, addressing challenges in quality, health and safety, environmental protection, and sustainability [13].

Core Insights - Bureau Veritas reported robust revenue performance in Q3 2025, with total revenue of EUR 1,583.7 million, reflecting a 2.3% year-on-year increase and a strong organic growth of 6.3% [10][8][11] - The company reaffirmed its full-year 2025 outlook, supported by a solid backlog and a strong opportunities pipeline, with an organic growth rate of 6.6% for the first nine months of the year [4][5][21] - The LEAP | 28 strategy continues to drive the company's growth, with targeted acquisitions contributing to revenue and expanding capabilities in key sectors [6][14] Q3 2025 Key Figures - Revenue of EUR 1,583.7 million, up 2.3% year-on-year and up 6.3% organically [10][8] - Organic growth rates by segment: Marine & Offshore (+16.2%), Buildings & Infrastructure (+7.1%), Industry (+6.9%), Certification (+5.9%), Consumer Products Services (+3.5%), and Agri-Food & Commodities (+2.5%) [11][8] - Negative currency impact of 4.8% due to the euro's appreciation against most currencies [8][11] Financial Position - As of September 30, 2025, the company had net financial debt higher than in June 2025, with over EUR 0.5 billion in available cash and EUR 600 million in undrawn committed credit lines [12] - A EUR 700 million bond was successfully issued with a 3.375% coupon, maturing in October 2033, rated A3 by Moody's [13][12] Strategic Acquisitions - Bureau Veritas signed agreements for two acquisitions in October 2025, expected to generate approximately EUR 32 million in annualized revenue, enhancing its leadership in Buildings & Infrastructure and expanding its Renewables capabilities [6][14] - A total of eight acquisitions have been signed or closed year-to-date, adding EUR 92 million of annualized revenue [6][14] Regional Performance - Revenue growth by region: Europe (+5.2% organically), Asia-Pacific (+8.6% organically), Americas (+1.9% organically), and Africa & Middle East (+15.7% organically) [15] - Strong performance in Southern Europe and France, with double-digit growth in South and Southeast Asia [15] Business Segment Highlights - **Marine & Offshore**: Revenue of EUR 136.6 million, with a strong organic growth of 16.2% driven by new construction and core in-service activities [23][24] - **Agri-Food & Commodities**: Revenue of EUR 284.5 million, with organic growth of 2.5%, supported by strong performance in Metals & Minerals [27][29] - **Industry**: Revenue of EUR 337.7 million, with organic growth of 6.9%, driven by Oil & Gas and Power & Utilities segments [33][35] - **Buildings & Infrastructure**: Revenue of EUR 495.0 million, with organic growth of 7.1%, led by strong demand in the US and Asia-Pacific [41][42] - **Certification**: Revenue of EUR 131.7 million, with organic growth of 5.9%, reflecting strong demand for QHSE & Specialized Schemes solutions [46][48] - **Consumer Products Services**: Revenue of EUR 198.2 million, with organic growth of 3.5%, driven by strong performance in Healthcare and Supply Chain & Sustainability services [52][56]

Core Insights - Bureau Veritas reported robust organic revenue growth of 6.7% in H1 2025, with total revenue reaching EUR 3,192.5 million, up 5.7% year-on-year [5][22] - The company achieved an adjusted operating profit of EUR 491.5 million, reflecting an 8.8% increase compared to H1 2024, with an adjusted operating margin of 15.4%, up 44 basis points year-on-year [5][23] - Bureau Veritas confirmed its full-year 2025 outlook, expecting mid-to-high single-digit organic revenue growth and continued margin improvements [4][19] H1 2025 Key Figures - Revenue: EUR 3,192.5 million, up 5.7% year-on-year [7] - Adjusted operating profit: EUR 491.5 million, up 8.8% [7] - Adjusted net profit: EUR 292.4 million, up 1.4% [7] - Attributable net profit: EUR 322.3 million, up 37.6% [7] - Free cash flow: EUR 168.0 million, down 11.5% year-on-year [7] H1 2025 Highlights - Strong organic growth across various sectors, with nearly a third of the portfolio achieving double-digit growth [8] - Significant contributions from Marine & Offshore and Industry segments, driven by trends in decarbonization and energy transition [8] - The company completed six bolt-on acquisitions, contributing approximately EUR 60 million in annualized revenue [5][11] Strategic Developments - Bureau Veritas executed a EUR 200 million share buyback program, representing about 1.5% of the company's shares [9][10] - Changes in the Executive Committee were announced to enhance strategy execution and operational efficiency [6][14] - The company aims to create new strongholds in fast-growing sectors and expand leadership positions in existing markets [12][13] Financial Position - Adjusted net financial debt stood at EUR 1,254.7 million, with a stable adjusted net debt/EBITDA ratio of 1.11x [34][36] - The company maintained a solid financial structure with EUR 867.5 million in cash and cash equivalents as of June 30, 2025 [34][36] - Working capital requirement decreased to EUR 439.0 million, representing 6.8% of revenue [33] Business Segment Performance - Marine & Offshore revenue increased by 10.6%, with a strong order book growth of 22.7% year-on-year [37][38] - Agri-Food & Commodities reported a 5.0% organic growth, with double-digit growth in Metals & Minerals [45][47] - The Industry division achieved 12.3% organic growth, driven by strong energy spending and demand for decarbonization services [52][53] Market Outlook - Bureau Veritas anticipates continued strong cash flow with a cash conversion rate above 90% [19] - The company is focused on executing its LEAP | 28 strategy, aiming for high single-digit total revenue growth and consistent margin improvements through 2028 [20][21]

Core Insights - Bureau Veritas is accelerating the execution of its LEAP | 28 strategy to enhance customer excellence and sustainability [2][3] - The company is evolving its Executive Committee structure to improve organizational alignment and operational efficiency [2][4] Strategy Execution - Since the launch of the LEAP | 28 strategy in March 2024, progress has been made across the three pillars: Portfolio, Performance, and People [3] - The new operating model will empower regions with scalable Product Lines, facilitating global offers development and cross-selling opportunities [3][4] Organizational Changes - The current six geographical regions will be reorganized into four: Americas, Europe, Asia Pacific, and Middle East Caspian & Africa [4] - Product Lines will be managed by three executive committee members focusing on Industrials and Commodities, Urbanization and Assurance, and Consumer Products Services [4] Leadership Roles - A Chief Performance Officer role will be created to lead the performance pillar and optimize key performance functions [5] - The new Executive Committee will include leaders for each region and product line, enhancing regional expertise and customer relations [6][9] Transition Timeline - The transition period for the new organizational structure will last from July 1 to the end of August 2025, with the new structure effective from September 1, 2025 [8]

Core Points - Bureau Veritas will hold its Combined Shareholders' Meeting on June 19, 2025, at 3:00 p.m. in Neuilly-sur-Seine, France [2] - Preparatory documents for the meeting are available in accordance with applicable laws and regulations [3][4] - Bureau Veritas is a global leader in inspection, certification, and laboratory testing services, with a mission to ensure responsible progress [6][7] Company Overview - Established in 1828, Bureau Veritas employs 84,000 people across 140 countries [7] - The company is listed on Euronext Paris and is part of several indices, including CAC 40 and CAC 40 ESG [7] - Bureau Veritas focuses on quality, health and safety, environmental protection, and sustainability [7]