Today, Bureau Veritas hosts its Capital Markets Day during which the Group will present its 2028 strategy and financial ambitions:
New customer-centric vision, to be the preferred partner for customers’ excellence and sustainability
New strategy LEAP I 28 to deliver a step change in growth and performance, built around three pillars: Portfolio, Performance and People, with sustainability at its core:
- Active Portfolio management strategy designed to enhance leadership positions through organic growth, accelerated M&A and portfolio high-grading
- Performance programs identifying meaningful efficiency and productivity benefits from operational leverage, functional scalability and innovation
- An evolved People model, leveraging the Group’s deep-rooted knowledge and expertise to train and develop strategic competencies needed for future growth
- Staying true to its purpose of “Shaping a world of trust by ensuring responsible progress”, Bureau Veritas will be fully engaged to deliver on its CSR commitmentsAmbition 2028: high single-digit total revenue growth1 (with mid-to-high single-digit organic), consistent adjusted operating margin improvement2, double-digit shareholder returns based on EPS CAGR1 and dividend yield, and strong cash conversion2 (above 90%)
In support of its strategy, and reflecting its financial health, Bureau Veritas intends to acquire its own shares for up to 200 million euro in 2024
Hinda Gharbi, Chief Executive Officer, commented:
“For nearly two centuries, Bureau Veritas has brokered trust between business and society. Building on our long-standing reputation for technical expertise, high quality and integrity, we are uniquely positioned to leverage our global reach and broad capabilities. Our vision is to be the preferred partner for our clients’ excellence and sustainability, enabling our customers to navigate technological and societal changes to transform and perform sustainably.
Our new strategy, LEAP I 28, is a new chapter in our history as we aim to achieve a step change in our leadership and performance, both in terms of growth and shareholder returns.
By actively managing our Portfolio, we aim to be the leader in the markets we serve where we already occupy a top three leadership position, invest to build new growth strongholds in strategic markets and optimize value and impact from the remainder of the portfolio. Our new Performance-centric execution model will enhance our customer value proposition through technology and scalability and will enable opex investments to fund our growth ambition and to drive margin improvement. Our People model will evolve to ensure we attract and develop the strategic competencies needed to enter new markets and sustain higher growth.
We are targeting mid-to-high single digit organic revenue growth, consistent adjusted operating margin improvement and double-digit shareholder returns based on EPS CAGR and dividend yield.
I would like to warmly thank all our colleagues around the world for their dedication and commitment to delivering on our new ambitions. We also thank our shareholders for their continued support.
I’m proud to lead this great company towards its bicentenary with a renewed sense of purpose, energy and ambition, knowing that its best is yet to come.”
1 At constant currency
2 (Net cash generated from operating activities – lease payments + corporate tax)/adjusted operating profit