Bureau Veritas Group published its financial results for the year 2021 on February 24, 2022 along with a forecast for 2022
KEY PERFORMANCE INDICATORS FOR 2021:
• Revenue for 2021 was 4,981.1 million euros, with organic growth of 9.4% compared to 2020.
• Operating income increased by 76.4% compared to 2020 figures.
• Bureau Veritas in Kazakhstan showed organic growth of 40% compared to 2020.
• Acquisition of six companies in strategic areas (infrastructure, renewable energy, sustainability certification, cybersecurity and consumer goods in China) with total revenue of approximately 48 million euros.
• Strong momentum in sustainable development and ESG - related solutions across the entire portfolio.
FORECAST FOR 2022:
Based on the existing sales pipeline and significant growth opportunities related to sustainable development and assuming there will be no strict COVID-19 restrictions in key countries, Bureau Veritas expects for the entire year 2022:
• Increase in organic revenue growth;
• Improvement in operational profitability;
• Formation of a sustainable financial flow with cash conversion above 90%.
Throughout 2021, Bureau Veritas demonstrated high flexibility and a customer-oriented approach while maintaining a focus on innovation. We ensured significant organic growth, good profitability and a stable financial flow, which allowed us to achieve the lowest financial dependence since the Bureau Veritas Group IPO in 2007 and a profit above 1 euro (at the level of 1.07 euros) per share.
The developed roadmap with a clearly defined strategic development direction until 2025 and strong growth opportunities, especially in sustainable development services are already showing results and account for more than 50% of our sales. Bureau Veritas has unique capabilities to build trust in areas that are at the core of our clients' and society's interests: health, safety, quality, environmental protection and social responsibility.
Demand is growing, as evidenced by the increasing interest in our global and multi-sector expertise: at BV, we help our clients measure and control their ESG commitments.