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Bureau Veritas: Double Digit Total Revenue Growth in the Third Quarter of 2026

Business Wire

Organic revenue growth sequential improvement;

2026 outlook confirmed

COURBEVOIE, France, October 21, 2026--Bureau Veritas (BOURSE:BVI):

The execution of LEAP | 28 has transformed Bureau Veritas into a more focused, faster-growing and higher-performing multi-specialist company. Its Product Line-centric operating model combines the Company's global scale and resilience with clear priorities, stronger accountability and deep specialist expertise. This creates a more repeatable growth model, enabling faster execution, stronger capabilities and higher conversion of growth into profitability.

Q3 2026 Key figures1

› New reporting structure effective July 1st, 2026, comprising four divisions: Industrials & Commodities, Buildings & Infrastructure, Business Assurance, and Product Testing & Services, excluding the planned for exit businesses of Oil & Petrochemicals and Coal Testing and Inspection, and "Government Services";
› Revenue of EUR 1,569.7 million, up 10.1% year-on-year and up 6.2% organically;
• Positive scope effect of 1.8%, from accelerated bolt-on acquisitions (+2.7% contribution), net of disposals (-0.9%);
› Positive currency impact of 2.1%, mainly resulting from the dollar strengthening against the euro.

Q3 2026 Highlights

› Broad growth across most divisions and geographies; with strong organic growth from Buildings & Infrastructure at +7.9% and Product Testing & Services at +7.0%, robust growth for Industrials & Commodities at +5.1%, and moderate for Business Assurance at +3.2%;
› Three years of strong organic growth and a completion of c. 21% portfolio rotation support LEAP | 28 ambitions that were confirmed at the 2026 Capital Markets Day;
› Total revenue growth target at constant currency upgraded to a double-digit CAGR for 2027-2028;
› AI identified as a key lever for both growth and performance. Commitment for EUR 1 billion revenue ambition for AI-driven markets and services by 2030;
› Successful placement of EUR 700 million, A3-rated bond due in September 2034, with a 4.125% coupon, most debt maturities now extend beyond 2031 and are at fixed interest rates;
› A third of the EUR 200 million share buyback program announced at the end of February 2026 completed.

Confirmed 2026 Outlook

In a fast-changing global business environment, the Company confirms its full year 2026 guidance. This is building on a solid 9-month delivery, a growing pipeline, and a reshaped portfolio2. The full-year 2026 guidance is as follows:

› Mid-to-high single-digit organic revenue growth
› Adjusted operating margin improvement at constant exchange rates
› Strong cash flow generation

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