2017 First-Half Results

28/07/17

Organic revenue growth confirmed in H1

FY 2017 outlook reaffirmed

Mid-term strategy on track with Growth Initiatives accelerating


Revenue of €2.36 billion in H1 2017, +6.2% vs. H1 2016


Organic growth of +1.3% in H1 2017

  • - All Businesses apart from Marine & Offshore on improving trends vs. FY 2016
  • - Certification (+6.1% year-on-year), Consumer Products (+5.2%) and Building & Infrastructure (+4.0%) performed the best
  • - All 5 Growth Initiatives gaining traction, + 7.1% year-on-year
  • - Adjusted for calendar effect, growth trends were similar in Q2 compared to Q1, despite Marine decline

  • External growth of +3.3%

  • - €100 million in annualized revenue with 4 strategic acquisitions completed YTD, supporting the Building & Infrastructure / Agri-Food /SmartWorld Growth Initiatives

  • Currency impact of +1.6%


    Adjusted operating profit of €359.4 million, +2.5% year-on-year, delivering a 15.2% margin


    Adjusted net profit of €187.6 million, broadly stable vs. H1 2016 at constant currency


    Operating cash flow of €149.9 million, improvement in underlying FCF adjusted for one-off items


    Chief Executive Officer Didier Michaud-Daniel commented:

    “We are on track with our strategic journey to transform the Group. Since the beginning of the year we have further progressed on our Growth Initiatives, with an accelerated organic growth and four targeted acquisitions. Our commercial efforts, notably towards key accounts, are materializing in significant wins. Finally, in many of our activities, the Group’s digital transformation is now clearly visible for our people and customers. As a result, our organic revenue growth in the first-half is confirmed”

    All our businesses are on improving trends, apart from Marine & Offshore, which is currently facing a market downturn. Consumer Products is accelerating, Certification remains robust and Agri-Food & Commodities is gradually improving. Industry, our largest business, is now close to stability as adverse conditions in the Oil & Gas markets are compensated by end market diversification. This encouraging momentum should continue to strengthen our performance.

    The Group’s 2017 outlook is reaffirmed: we still anticipate a slightly positive organic revenue growth for the full- year with acceleration in the second-half confirmed. We also confirm our full-year objective of an adjusted operating margin of circa 16% as well as higher cash flow compared to 2016.

    Bureau Veritas’ expansion strategy in targeted sectors and countries is paying off and is making the Group more resilient.”


    To read the full press release click here

    Contact us

    Phone:

    Send an e-mail
    • Algeria
    • Angola
    • Argentina
    • Australia
    • Austria
    • Azerbaijan
    • Bahamas
    • Bahrain
    • Bangladesh
    • Barbados
    • Belarus
    • Belgium
    • Benin
    • Bermuda
    • Bolivia
    • Bosnia and Herzegovina
    • Botswana
    • Brazil
    • Brunei
    • Bulgaria
    • Burkina-Faso
    • Burundi
    • Cambodia
    • Cameroon
    • Canada
    • Cape Verde Islands
    • Central African Republic
    • Chad
    • Chile
    • China
    • Colombia
    • Congo
    • Congo (Democratic Republic of the)
    • Costa Rica
    • Cote d'Ivoire
    • Croatia
    • Cuba
    • Curacao
    • Czech Republic
    • Denmark
    • Djibouti
    • Dominican Republic
    • Ecuador
    • Egypt
    • El Salvador
    • Equatorial Guinea
    • Eritrea
    • Estonia
    • Ethiopia
    • Fidji
    • Finland
    • France
    • French West Indies
    • Gabon
    • Georgia
    • Germany
    • Ghana
    • Gibraltar
    • Greece
    • Greenland
    • Guatemala
    • Guinea
    • Guinea Bissau
    • Honduras
    • Hungary
    • Iceland
    • India
    • Indonesia
    • Iran
    • Iraq
    • Israel
    • Italy
    • Japan
    • Jordan
    • Kazakhstan
    • Kenya
    • Korea (South)
    • Kuwait
    • Latvia
    • Lebanon
    • Liberia
    • Libya
    • Lithuania
    • Luxembourg
    • Madagascar
    • Malawi
    • Malaysia
    • Mali
    • Malta
    • Mauritania
    • Mexico
    • Montenegro
    • Morocco
    • Mozambique
    • Myanmar
    • Namibia
    • Netherlands
    • Netherlands Antilles
    • New Zealand
    • Nicaragua
    • Niger
    • Nigeria
    • Norway
    • Oman
    • Pakistan
    • Panama
    • Paraguay
    • Peru
    • Philippines
    • Poland
    • Portugal
    • Puerto Rico
    • Qatar
    • Romania
    • Russia
    • Rwanda
    • Saint- Pierre & Miquelon
    • Saudi Arabia
    • Senegal
    • Serbia
    • Seychelles
    • Sierra Leone
    • Singapore
    • Slovakia
    • Slovenia
    • Somalia
    • South Africa (Rep.)
    • Spain
    • Sri Lanka
    • Suriname
    • Sweden
    • Switzerland
    • Syria
    • Taiwan
    • Tanzania (United Republic of)
    • Thailand
    • Togo
    • Trinidad & Tobago
    • Tunisia
    • Turkey
    • Turkmenistan
    • Uganda
    • Ukraine
    • United Arab Emirates
    • United Kingdom
    • United States of America
    • Uruguay
    • Uzbekistan
    • Venezuela
    • Vietnam
    • Yemen
    • Zambia
    • Zimbabwe
    • Other Websites
    • Africa
    • GLOBAL WEBSITE
    • Middle East
    • South East Asia
    Choose your industry, asset and / or service need
    Your Industry

    Your Asset

    Our Services