Excellent performance in 2007
Revenue of €2.067bn, +12%
Adjusted operating profit of €312m, +16%
Adjusted net profit (Group share) of €193m, +19%
Net cash generated from operating activities of €235m, +16%
Forecasts for high growth in 2008, confirming Bureau Veritas' solid and recurring growth model and the guidance given at the IPO
Increase of more than 15% in sales and adjusted operating profit*
A significant number of acquisitions being considered
Paris-La Défense, 26 March 2008- Bureau Veritas, the world's second largest group in conformity assessment and certification services in the fields of quality, health and safety, environment and social responsibility, has announced a surge in 2007 earnings:
Frank Piedelièvre, Bureau Veritas President and Chief Executive Officer stated:
The overall result for 2007 was clearly positive. We exceeded the symbolic €2 billion mark in revenues and 15% in adjusted operating profit. Prospects for 2008 are in line with the guidance given at the IPO. Bureau Veritas has a solid growth profile thanks to its balanced and diversified business portfolio with presence throughout the world.
Bureau Veritas' business is underpinned by structural growth factors such as the bolstering of regulations and QHSE standards, the development of responsible management, the privatisation and outsourcing of control and inspection activities and the globalisation of trade.
Despite the likelihood of a difficult economic backdrop, we are forecasting growth in revenue and adjusted operating profit of more than 15% on a same-currency basis and before taking account acquisitions completed in 2008
*On the scope of consolidation at end-December 2007 (excluding acquisitions made in 2008) and on a same-currency basis.
Click here to download the full 2007 results presentation
Click here to download the official press release