Bureau Veritas have posted their Q3 2018 results which show an overall revenue rise to 1.2 billion EUR, an 8.6% increase at constant currencies.
Within this Bureau Veritas report that, ‘The Certification business recorded strong organic growth of +14.9% in Q3 2018, with growth spread across all regions and most service categories.
This strong growth was driven by the revision of standards (ISO 9001, ISO 14001, AS 9100 in the Aerospace and IATF in the Automotive sectors) in the quarter, as in Q2 2018, ahead of the transition deadline on September 15, 2018. This triggered double-digit growth in Europe (notably Germany, Italy, France and Spain), Americas (notably Canada and Latam) and in Asia.
The growth was particularly strong for Supply Chain led by Automotive and Aeronautics, while solid for Sustainability, led by Wood Management Systems Certification. Food certification schemes continued to grow at high single digit driven by the certification of organic food products.
Global Certification contracts grew by 18% organically, as a results of the ramp-up of several new contracts signed with international companies in various sectors.
New services launched continued to be a contributor to growth. This includes the Group’s offering addressing Enterprise Risks: information safety, GDPR data protection, anti-bribery and business continuity, which together grew at double digit.
Outlook: For the full year 2018, the Certification business is expected to deliver robust organic revenue growth but with a second-half at a much slower pace than during the first-half (implying negative growth in Q4) due to the revised standards transition which ended in September 2018.’
Further details can be seen here.