- Adjusted operating margin for 1H 2024 is 15%, matching last year’s percentage and the estimate.
- Marine & Offshore adjusted operating margin is 24.5%, close to last year’s 24.7%, and above the 24% estimate.
- Agri-Food & Commodities adjusted operating margin is 12.3%, compared to 13.5% last year and an estimate of 13.4%.
- Industry adjusted operating margin is 12.7%, higher than the previous year’s 12.3% and the 12.4% estimate.
- Buildings & Infrastructure adjusted operating margin is 11.6%, down from last year’s 12.2% and below the 12.5% estimate.
- Certification adjusted operating margin is 19.6%, up from 18.3% last year, and surpassing the 18.2% estimate.
- Consumer Products adjusted operating margin is 21.3%, an increase from 20.4% last year and higher than the 20.3% estimate.
- Adjusted operating profit is €451.9 million, up 4.1% y/y, surpassing the €447.1 million estimate.
- Total revenue is €3.02 billion, an increase of 4% y/y, and above the €2.97 billion estimate.
- Marine & Offshore revenue is €251.3 million, a 9.9% increase y/y, exceeding the €243.8 million estimate.
- Agri-Food & Commodities revenue is €613.9 million, up 0.4% y/y, over the €604.4 million estimate.
- Industry revenue is €624 million, a 1.1% increase y/y, meeting the €623.6 million estimate.
- Buildings & Infrastructure revenue is €896.7 million, a 3.1% increase y/y, above the €880.2 million estimate.
- Certification revenue is €255.3 million, up 12% y/y, beating the €248.1 million estimate.
- Consumer Products revenue is €380.5 million, a 9% increase y/y, above the €374 million estimate.
- Net income stands at €234.3 million, a 0.8% increase y/y, below the €246.8 million estimate.
- Adjusted EPS is €0.64, up from €0.61 y/y, and higher than the €0.60 estimate.
- 2Q 2024 organic revenue growth is 10.4%, exceeding the 6.54% estimate.
- Marine & Offshore 2Q organic revenue growth is 15.8%, above the 9.07% estimate.
- Agri-Food & Commodities 2Q organic revenue growth is 6%, higher than the 4.06% estimate.
- Industry 2Q organic revenue growth is 18.2%, surpassing the 10.4% estimate.
- Buildings & Infrastructure 2Q organic revenue growth is 4.9%, above the 3.8% estimate.
- Certification 2Q organic revenue growth is 18%, beating the 11.7% estimate.
- Consumer Products 2Q organic revenue growth is 8.3%, exceeding the 5.86% estimate.
- Total 2Q revenue is €1.58 billion, a 5.5% increase y/y, above the €1.53 billion estimate.
- For FY 2024, forecasts high single-digit organic revenue growth.
- Projects FY improvement in adjusted operating margin at constant exchange rates.
- Sees FY cash conversion rate above 90%.
- Expects 2H organic revenue growth in line with 1H.
- Signed a deal to acquire Security Innovation Inc, set to close in 3Q 2024.
A look at Bureau Veritas SA Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on Smartkarma Smart Scores, Bureau Veritas SA has a positive long-term outlook. With a high Momentum score of 5, the company is showing strong performance trends that indicate continued growth in the future. Additionally, Bureau Veritas SA scores well in terms of Growth with a score of 4, suggesting promising prospects for expanding its business operations and increasing its market presence.
Although the Value score is moderate at 2, indicating fair valuation, the company’s solid scores in Dividend (3) and Resilience (3) highlight its ability to provide stable returns to investors and withstand economic challenges. Overall, Bureau Veritas SA, a provider of consulting services related to inspection, audit, and certification, appears to be well-positioned for sustainable growth and maintaining investor confidence in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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