Bureau Veritas posted its 2018 1st half year results with a revenue of EUR 2.34 billion an increase (at constant currency) of 6.1%.
The increase in quarter 2 organic revenue showed an acceleration to 4.4% from an overall 3.5% increase across the whole first half.
Within these results and specifically regarding certification, Bureau Veritas reported that the Certification business grew organically by 10.8% in the first half 2018, accelerating to 14.2% in quarter 2.
Bureau Veritas notes of certification, ‘Overall, growth was fuelled by the revision of standards (ISO 9001, 14001, AS 9100 in the Aerospace and IATF in the Automotive sectors), especially in Q2 2018 which strongly benefited from most customers anticipating audits ahead of the transition deadline on September 15, 2018. At June 30, 2018, 96% of Bureau Veritas’ clients were in the transition process or have already transitioned to the new QHSE Standards (ISO 9001: 2015 and ISO 14001: 2015). The transition effect is expected to cease from Q3 2018 onwards’.
However, the positive impact of these revisions is noted in the outlook, ‘In 2018, the Certification business is expected to deliver robust organic revenue growth on a full year basis implying a second-half at a much slower pace than during the first-half due to the revised standards transition ending in September 2018’.