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Incorporating Clean Shipping International

INCREASED REVENUE AND GROWTH FOR BUREAU VERITAS

Monday, July 29, 2019 

Paris-based classification society Bureau Veritas has released its financial figures for the first half of 2019, which show revenue up 5.9% to 2,477 million and organic growth of 4% year-on-year.

This represents an operating profit of €380.5 million. The situation was helped by the recent disposal of the non-strategic North American HSE Consulting business.

CEO Didier Michaud-Daniel said: “In the first half of 2019, we recorded solid organic revenue growth of 4.0%, building upon the good momentum achieved in 2018. Thanks to the Group’s successful transformation, we are well poised to continue growing at a steady pace and to enhance further our cyclical resilience. We continue to focus on margin improvement and have delivered 15.4% in the first half with a major improvement achieved in Agri-Food & Commodities business. Our active portfolio management to deliver top line growth, geographical diversification and margin improvement continued in the first half. New acquisitions were focused on our Growth Initiatives in Buildings & Infrastructure and Agri-Food in the US, France and Asia. In the light of our first half performance, we confirm our 2019 outlook: we expect a solid organic revenue growth with a continued adjusted operating margin improvement at constant currency, and a sustained strong cash flow generation.”

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