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Bureau Veritas 2017 Q1 results with revenue +7.4%

IIOC member Bureau Veritas posts its 2017 Q1 results, with revenue of €1.14 billion, 7.4% increase on 2016 Q1.

Growth was broken down as 1.9% organic, acquisitions adding 3.5% and currency having a 2% impact.

Within Bureau Veritas, Certification reported the strongest growth. This is explained as follows by Bureau Veritas:

‘Revenue increased by 10.6% organically, with a strong performance across all major service categories and regions. This quarter benefited from a positive calendar effect, which will reverse in Q2.
The QHSE segment was a major contributor to growth, driven in particular by the positive impact of the transition to the new ISO 9001: 2015 and ISO 14001: 2015 versions. Customized solutions’ double-digit growth was fueled by Service Certification, as well as Supplier and Distribution Network Audits as issues about Supplier Risk Management and Brand Protection are becoming critical in many sectors. Standard revisions also benefited Training activities. Supply Chain & Sustainability-related services showed good growth, buoyed in particular by Energy Management, Green House Gases and Food Certification schemes. Large Certification contracts grew by double-digits thanks to new contracts signed with international companies, in various sectors. By geography, a large part of the growth was fueled by Latin America.
In 2017, the Certification business is expected to maintain robust growth, although at a lower pace than in the first quarter, driven by renewed standards (ISO 9K, 14K, AS 9100 in the Aerospace and IATF in the Automotive sectors), along with new product and service launches (including a new Certification E-commerce platform in 5 key countries).’

Further details can be seen here.

 


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