Bureau Veritas: targets moderate organic sales growth
Half of the business portfolio (Food & Raw Materials, Building & Infrastructure) posted average organic growth of 8.4%.
By geographic region, sales in the Americas rose by 13.9% on an organic basis, driven by 7.8% growth in the United States (thanks to the Building & Infrastructures business) and 26.5% in Latin America (driven by Brazil and Chile in particular).
Business in Europe (35% of sales) was up 6.7% on an organic basis. It was driven mainly by the robust performance of Southern Europe and the Netherlands.
In the Asia-Pacific region (28% of sales), organic growth was 4.3%. Strong growth was recorded in Australia and South-East Asia, while China returned to growth during the quarter.
Bureau Veritas expects to achieve moderate single-digit organic sales growth in 2023, a stable adjusted operating margin and a high level of cash flow, with a cash conversion rate of over 90%.
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