(Reuters) – Bureau Veritas shares recorded one of the strongest gains in the SBF 120 index on the Paris Stock Exchange on Wednesday after the certification specialist announced its financial ambitions by 2028.
The stock, which gained 6.6% earlier in the session, gained 3.8% at 9:44 a.m.
Bureau Veritas, which is holding an investor day on Wednesday, said in a press release that it expects “moderate to high single-digit” organic sales growth by 2028, as well as continued improvement in adjusted operating margin.
The company further announced its intention to acquire its own shares for a maximum amount of 200 million euros in 2024.
The organic growth prospects announced by 2028 appear, for Jefferies analysts, better than expected compared to the consensus which expected around 5% for the years 2025-2026.
Bureau Veritas also announced on Wednesday the acquisition of three companies in South and North-East Asia for a combined turnover of around 20 million euros in 2023.
In a note, Stifel welcomes the resumption of mergers and acquisitions in the group’s strategic markets, as well as a “more favorable” shareholder return strategy.
(Writing by Diana Mandiá, with Lina Golovnya, editing by Kate Entringer)
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