Bureau Veritas reports strong 2024 results driven by LEAP | 28 strategy
Testing, inspection, and certification company Bureau Veritas announced its 2024 financial results, exceeding the targets set by its strategy. The company anticipates continued growth in 2025.
Paris – Bureau Veritas, a global player in testing, inspection, and certification (TIC) services, reported robust full-year 2024 financial results on February 25, 2025, demonstrating progress with its LEAP | 28 strategy. The company's revenue reached EUR 6,240.9 million in 2024, a 6.4% increase year-on-year. Organic growth stood at 10.2%.
The adjusted operating profit rose by 7.1% to EUR 996.2 million, with an adjusted operating margin of 16.0%. Net profit attributable to owners was EUR 569.4 million, up 13.0% from 2023. Free cash flow reached a record EUR 843.3 million, marking a 27.9% year-on-year increase.
The company exceeded its 2024 financial targets for organic growth, margin, and cash flow. The first year of the LEAP | 28 strategy, focused on portfolio, performance, and people, yielded tangible results. During 2024, Bureau Veritas completed ten bolt-on acquisitions and divested two businesses.
Looking ahead to 2025, Bureau Veritas expects mid-to-high single-digit organic revenue growth, an improvement in adjusted operating margin at constant exchange rates, and strong cash flow with a conversion rate above 90%.