Bureau Veritas SA (BVRDF) Q3 2024 Sales/ Trading Statement Call Transcript

Bureau Veritas SA (OTCPK:BVRDF) Q3 2024 Sales/ Trading Statement Call October 23, 2024 12:00 PM ET

Company Participants

Hinda Gharbi – Chief Executive Officer
François Chabas – Executive Vice-President, Finance

Conference Call Participants

Suhasini Varanasi – Goldman Sachs
Karl Green – RBC
Sylvia Barker – J.P. Morgan
Arthur Truslove – Citi
Himanshu Agarwal – Bank of America
Annelies Vermeulen – Morgan Stanley
James Rose – Barclays
Neil Tyler – Redburn Atlantic

Operator

Welcome to the Bureau Veritas Q3 2024 Revenue Conference Call. My name is Alan, and I’ll be your coordinator for today’s event.

Today, we will be hosted by Hinda Gharbi, CEO; and François Chabas, Group CFO. Please note this call is being recorded and for the duration, your lines will be on listen-only. However, you will have the opportunity to ask questions at the end. [Operator Instructions]

I will now hand you over to your host, Hinda Gharbi to begin today’s conference. Thank you.

Hinda Gharbi

Thank you, Alan. Good morning, good afternoon, and good evening to everyone. Thank you for joining us today on the webcast and on the call. I’m here with François Chabas, our Group CFO. We’ll be presenting our Q3 2024 revenue update, and we will then take some questions.

In the third quarter, we continued our growth momentum, delivering strong topline growth while actively managing our portfolio in-line with our LEAP | 28 strategy. I’m grateful to our colleagues around the world for their work, efforts and dedication in delivering these results.

First, starting with our revenue performance. Revenue for the quarter was EUR1.55 billion up 8.8% year-on-year. The organic increase was 13% exceeding expectations for some businesses and confirming the associated underlying market trend strength. This resulted in a 10.5% organic growth on a year-to-date basis. It is key to mention that the growth was driven by the entire portfolio. The