(AOF) – Bureau Veritas (+3.88% to 27.84 euros) takes third place in the SBF 120 index as the group organizes its investor day this Wednesday during which the company presents its strategy 2028 and its financial ambitions. Bureau Veritas intends to acquire its own shares for a maximum amount of 200 million euros in 2024 and to distribute a dividend representing 65% of adjusted net profit over the period 2024-2028. The company also targets a “strong cash flow conversion rate,” above 90%.
By 2028, it is targeting “moderate to high single-digit” organic revenue growth on an annual average, as well as “constant improvement” in adjusted operating margin.
To achieve its objectives, Bureau Veritas intends to accelerate its mergers and acquisitions and invest in “strategic high-growth sectors”. While continuing its bolt-on acquisition strategy, the group will remain open and attentive to medium-sized opportunities (turnover greater than 100 million euros), “in a very disciplined manner”.
The group announced that it has signed definitive agreements for the acquisition of two Korean companies and an Indian company to diversify its position in testing and certification services for the consumer electrical and electronic products segment in South Asia. South and North-East, for a cumulative turnover of around 20 million euros in 2023.
“Our new strategy, LEAP I 28, opens a new chapter in our history. We want to take a turning point in leadership and performance, both in terms of growth and return for shareholders,” commented Hinda Gharbi, general director, quoted in a press release.
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