Socotec delivered a solid performance in 2024, with sales in line with budget and double-digit year-on-year growth (of which 6% organic). France played a key role in this performance, with a strategic repositioning towards new services such as sustainable real estate and targeting new industries helping to drive momentum despite a sluggish construction market. Other European regions also performed well, particularly Italy, which benefited from a dynamic infrastructure sector. In addition, M&A activity contributed significantly to this growth, with 18 acquisitions and over €200 m of acquired sales in complementary TIC specialties. In particular, the acquisition of Ninyo & Moore in the US doubled our presence in the country and gave us a foothold on the West Coast, where Socotec was not yet present.