Bureau Veritas SA (XPAR:BVI)
€ 26.62 -0.5 (-1.84%) Market Cap: 11.90 Bil Enterprise Value: 13.25 Bil PE Ratio: 24.20 PB Ratio: 6.24 GF Score: 93/100
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Full Year 2018 Bureau Veritas SA Earnings Call Transcript

Feb 28, 2019 / 02:00PM GMT
Release Date Price: €21.02 (+6.00%)
Didier Michaud;Daniel
Bureau Veritas SA - CEO

Good morning, good afternoon, and good evening to everyone. Thank you for joining Bureau Veritas Full Year 2018 Results on the webcast and on the call. François Chabas, our group CFO, is here with me to present our full year results.

2018 was a strong year of progress for the group. We made significant steps in the execution of our strategic plan with a focus on group diversification and digital transformation well underway, and we continued to improve financial performance.

Indeed, we achieved all the objectives that we set at the start of the year. Bureau Veritas delivered 4% organic growth in 2018, nearly twice the 2.2% in 2017; the margin of 16.1%, up 20 basis points at constant currency; a major improvement in free cash flow, up 45.8% by EUR 130 million to nearly EUR 480 million.

I will leave François to go into the detail of the financials, but a couple more comments. Group revenue grew by 7% year-on-year at constant currency, and our adjusted operating profit is up 8.4% at constant currency.

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