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Revenue in the third quarter rose by 6.3 percent, pushed by strong growth in Marine & Offshore, Certification, Industry, and Buildings & Infrastructure segments.

In sum – what to know:

Strong Q3 results – Bureau Veritas’s third-quarter revenue beats market expectations amid portfolio adjustments.

Growth drivers – Marine & Offshore saw double-digit growth, with Industry, Certification, and Buildings & Infrastructure trailing closely.

2025 earnings outlook – The company said it is expecting to see similar mid to high single-digital organic revenue growth for the full year 2025.

Bureau Veritas reported revenue of 1.58 billion euros for the third-quarter of 2025. The testing, inspection, and certification giant said revenue performance remains consistent — and exceeds estimates despite currency challenges. 

For the first half of 2025, the company reported a 6.7 percent organic margin increase from 2024. In the third quarter, growth was 6.3 percent on a reported basis, which translates as 2.3 percent total growth.

“Over the first nine months of the year, we delivered robust organic growth throughout the period, at 6.6% — very consistent every quarter,” Laurent Brunelle, head of investor relations, told RCRTech.

Revenue growth varied across business segments, swinging widely between 16.2 percent and 2.5 percent. Four divisions — Marine & Offshore, Certification, Industry, and Buildings & Infrastructure delivered strong organic gains, with Marine & Offshore leading with 16.2 percent. 

Similarly, revenues were diverse across geographies. According to the earnings report, strong performance was recorded in Africa and Middle East at 15.7 percent, and Asia Pacific at 8.6 percent. Europe and Americas contributed 5.2 percent and 1.9 percent only, respectively.

BV remains focused on its LEAP I 28 strategy implementation, a program aimed at broadening and optimizing its portfolio across high-growth areas. One of the strategies is expansion into the data center market, a segment where BV has seen remarkable growth. BV’s data center business has grown from 20 million euros since 2017 to a projected 80 million euros in 2025, representing an impressive 29 percent CAGR. 

Specifically, the company is concentrating on “targeted bolt-on acquisitions” to strengthen its portfolio. Year-to-date, it has closed eight acquisitions, reportedly adding 92 million euros of annualized revenue — and issued a 700 million euros bond earmarked for M&As, the largest to date. 

“This issuance enables the Company to leverage attractive financial market conditions in the context of its capital allocation within the LEAP | 28 strategy,” BV said.

“When it comes to Bureau Veritas’ M&A strategy, we favour bolt- deals to serve three key objectives,” said Brunelle. 

The first is to fill any gaps in services or geographical coverage in sectors where it is already leading in order to consolidate positioning. Through strategic acquisitions, BV also aims to acquire capabilities and skills in targeted nascent and high-growth markets that are potential strongholds for future growth.

“For every acquisition, we make sure there is a strong strategic fit, and pay attention to financial criteria, with a payback that has to be below 6-7 years maximum,” he added.

As part of the portfolio optimization effort, earlier this year, BV divested its non-core food testing business to Mérieux Nutriscience. “This enables us to pivot our portfolio towards more growing areas, while reducing our exposure from more mature businesses, where we do not have a leadership position. This, therefore, supports our growth profile,” Brunelle said.

Stock price went up 1.57 percent following the revenue announcement last week, reaching 28.40 euros — close to its 52-week high performance of 31.54 euros.

In it’s full-year outlook, the company confirmed similar revenue growth (“mid to high single-digit”), with expectation for a strong cash flow. 

Philipp Karmires, Executive VP of DxT (Digital & Technology) wrote in a LinkedIn post celebrating the results, “Our DxT teams are transforming how we deliver trust and assurance.”

Earlier this month, Teledyne Technologies reported its Q3 2025 results, showcasing record sales of $1.54 billion — slightly above the mark of $1.53 billion that analysts expected — marking a 6.7% year-over-year increase.