Bureau Veritas: Sector-Leading Organic Revenue Growth of 6.5% in FY 2025

COURBEVOIE, France — Bureau Veritas (BOURSE:BVI):

› Full-year revenue of EUR 6,466.4 million, up 6.5% organically (with 6.3% organic growth in Q4). At constant currency, the growth was up 7.3% year-on-year and up 3.6% on a reported basis,

› Adjusted operating profit of EUR 1,052.9 million, up 5.7% versus EUR 996.2 million in FY 2024, representing an adjusted operating margin of 16.3%, up 32 basis points year-on-year and up 51 basis points at constant currency,

› Operating profit of EUR 992.4 million, up 6.3% versus EUR 933.4 million in FY 2024,

› Adjusted net profit of EUR 631.4 million, up 1.7% versus EUR 620.7 million in FY 2024,

› Adjusted EPS stood at EUR 1.42 in 2025, with a 2.8% increase versus FY 2024 (EUR 1.38 per share) and up 9.2% at constant currency,

› Attributable net profit of EUR 588.0 million, up 3.3% versus EUR 569.4 million in FY 2024,

› Free Cash Flow of EUR 824.2 million, up 3.9% organically and up 2.6% at constant currency, and cash conversion of 107%²,

› Adjusted net debt/EBITDA ratio of 1.1x as of December 31, 2025, slightly up versus last year,

› Proposed dividend of EUR 0.92 per share³, up 2.2% year-on-year, payable in full in cash.

› 2025 financial targets of revenue, margin and cash met or exceeded,

› Strong drivers of portfolio organic growth from higher energy investments, from the ongoing buildup of digital infrastructure and from clients demand for corporate and enterprise risk assessment solutions,

› Progressive LEAP I 28 strategy execution in its second year yielding tangible impact on operational leverage and functional scalability,

› New organization implementation to accelerate strategy execution,

› Portfolio refocusing continues with nine bolt-on acquisitions, and two divestments in non-core areas closed. These acquisitions added EUR 96 million in annualized revenue and support LEAP I 28 portfolio priorities of: i) Strengthening leadership positions in Buildings & Infrastructure; ii) Creating new strongholds in Power & Utilities and Renewables, Cybersecurity, and in Sustainability and iii) Optimizing value and impact in mature businesses; in Consumer Product Services and in Metals & Minerals. Year-to-date, three more bolt-on deals have been closed, contributing to c. EUR 5 million in annualized revenue,

› Double-digit shareholder returns based on EPS growth of c. 9% at constant currency, a dividend yield of c. 3% and enhanced by a EUR 200 million share buyback program (representing c. 1.5% of outstanding share capital).

Bureau Veritas is starting the third year of LEAP I 28 strategy with sound market fundamentals. Building on a strong 2025 performance, the Group aims to deliver full year results for 2026 aligned with the financial ambition outlined in its strategy:

› Mid-to-high single-digit organic revenue growth,

› Improvement in adjusted operating margin at constant exchange rates,

› Strong cash flow generation.

On February 24, 2026, the Board of Directors of Bureau Veritas approved the financial statements for the full year 2025. The main consolidated financial items are:

› Mid-to-high single digit organic revenue growth in the full year Group revenue in 2025 increased by 6.5% organically compared to 2024, including 6.3% in the fourth quarter, benefiting from underlying robust market trends across businesses and geographies.