Bureau Veritas S.A.

Bureau Veritas specializes in inspecting, testing, auditing or certifying products, assets (such as buildings, industrial infrastructure, equipment and ships) and management systems (particularly against ISO standards) based on regulatory or voluntarily adopted standards. Co.'s operations can be divided into eight businesses: ship classification; industry services; inspection and verification of equipment in service; construction services; certification of management systems or services; inspection and testing of consumer products; services related to customs control and international trade services; and inspection and testing of commodities.
  • TickerBVI
  • ISINFR0006174348
  • ExchangeEuronext Paris
  • SectorSupport Services
  • CountryFrance

Analysts

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 06/11/2019 - Intesa Sanpaolo - EN

TP ICAP - Europe - Morning CreditUpdate 06/11/2019 - Intesa Sanpaolo - EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 06/11/2019 - Intesa Sanpaolo - FR

Intesa SanPaolo (Achat) : RN en hausse de +9,9% à €3,3 mds (soit le niveau le plus élevé depuis 2008) sur les 9M-19 Hannover Re - 9M-19 : Résultat opérationnel de €1,4 md (+20,6%) Société Générale (Achat) - 9M-19 : RN de €2,6 mds (-24,5%) Casino (Achat CT, Conserver LT) : Lance son offre de rachat obligataire sur les souches 2020 Avis (Achat) - 9M-19 : EBITDA de $645m (+1%) Hertz Global Holdings (Vente) - 9M-19 : EBITDA de $595m (+54,9%) Orpea (Achat) : Relève son objectif pour 2019 et attend une croissance du CA de +9,2% Bureau ...

BUREAU VERITAS INTL. sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of BUREAU VERITAS INTL. (FR), a company active in the Business Support Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date November 1, 2019, the closing price was EUR 22.99 and its potential was estimated at EUR 24.19.

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Rémi Adam
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/25/2019

...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 06/11/2019 - Intesa Sanpaolo - EN

TP ICAP - Europe - Morning CreditUpdate 06/11/2019 - Intesa Sanpaolo - EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 06/11/2019 - Intesa Sanpaolo - FR

Intesa SanPaolo (Achat) : RN en hausse de +9,9% à €3,3 mds (soit le niveau le plus élevé depuis 2008) sur les 9M-19 Hannover Re - 9M-19 : Résultat opérationnel de €1,4 md (+20,6%) Société Générale (Achat) - 9M-19 : RN de €2,6 mds (-24,5%) Casino (Achat CT, Conserver LT) : Lance son offre de rachat obligataire sur les souches 2020 Avis (Achat) - 9M-19 : EBITDA de $645m (+1%) Hertz Global Holdings (Vente) - 9M-19 : EBITDA de $595m (+54,9%) Orpea (Achat) : Relève son objectif pour 2019 et attend une croissance du CA de +9,2% Bureau ...

Bruno de La Rochebrochard

BUREAU VERITAS: Feedback CC Q3 revenue: Resilience and growth potential again illustrated | BUY | EUR26(+19%)

BUREAU VERITAS - BUY | EUR26(+19%) Feedback CC Q3 revenue: Resilience and growth potential again illustrated Solid growth ahead expectation despite higher comps… …illustrating the benefit of an extensive transformation Confidence on FY Management guidance which have been confirmed

Emira Sagaama ...
  • Matthias Desmarais

Bureau Veritas : Still proving resilient – Buy rating reiterated

>Revenue slightly better than expected - Q3 revenue beat the consensus by 1%, growing by 6.2% y-o-y; it benefited from a forex impact of +1.5% and acquisitions contributed +0.8%. Organic growth came as a pleasant surprise in Q3 at 3.9%; this is in line with our forecast (ODDO BHF 3.8%e) but above the consensus (3.5%e) which expected it to slow from the 4% achieved in H1, especially as comps were challenging (4.8% in Q3 2018). The group thus remained resilient over the...

Emira Sagaama ...
  • Matthias Desmarais

Bureau Veritas : Résilience confirmée - Achat réitéré

>Chiffre d’affaires légèrement au-dessus des attentes - Le CA T3 est ressorti 1% au-dessus des attentes du consensus, en progression de 6.2% yoy en bénéficiant d’un effet changes de +1.5% et d’une contribution des acquisitions à hauteur de +0.8%. La croissance organique de 3.9% au T3 est une bonne surprise, elle est en ligne avec nos attentes (ODDO BHF 3.8%e) mais supérieure au consensus (3.5%e), qui s’attendait à un ralentissement par rapport au 4% du S1, d’autant pl...

Emira Sagaama ...
  • Matthias Desmarais

Bureau Veritas : A sound strategy + favourable cycles ? overblown discount vs peers

Our positive stance on Bureau Veritas is confirmed following our road show with management (CEO and Head of IR) in the US. The group has reached the end of its transformation and emerged more resilient from the process. Improvements in the margin and FCF generation are catalysts for a re-rating compared with peers. Buy recommendation reiterated. - >Defensive profile strengthened and resilience certified - In our view, Bureau Veritas’ profile is currently more defensive...

Emira Sagaama ...
  • Matthias Desmarais

Bureau Veritas : Stratégie pertinente + cycles favorables ? décote exagérée vs pairs

Notre opinion positive sur Bureau Veritas est confirmée suite à notre roadshow avec le management (CEO, Head of IR) aux Etats-Unis. Le groupe est arrivé au bout de sa transformation et en ressort plus résilient. Améliorations de la marge et du FCF sont les catalyseurs du re-rating par rapport aux pairs. Achat réitéré. - >Profil défensif renforcé, résilience certifiée - Nous estimons que le profil de Bureau Veritas est aujourd’hui plus défensif et devrait être résilient...

1 director bought

A director at Bureau Veritas bought 1,200 shares at 21.404EUR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boar...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Rémi Adam
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/25/2019

...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Rémi Adam
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/10/2019

...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Emira Sagaama
  • Jean Sassus
  • Johanna Jourdain
  • Matthias Desmarais
  • Olfa Taamallah
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/05/2019

After a remarkable performance (+42.5%) since its addition into our Large Caps Convictions List, we are taking our profits on MTU Aero Engines. Since its launch (8 January), the ODDO Large Caps Convictions List posted, at 1 August, a performance (dividends reinvested) of 18% vs 15.3% for the Stoxx 600. Enjoy your summer holidays, ODDO BHF Strategy will be back on the week of 26 August. - - ...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Emira Sagaama
  • Jean Sassus
  • Johanna Jourdain
  • Matthias Desmarais
  • Olfa Taamallah
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/08/2019

Après un parcours remarquable (+42,5%) depuis son entrée dans notre liste recommandée, nous prenons nos profits sur MTU Aero Engines. Depuis son lancement (8 janvier) la liste ODDO Convictions Large Caps affiche, au 1er Août, une performance dividendes réinvestis de 18% vs 15.3% pour le Stoxx 600. Excellent été à tous, ODDO BHF Strategy de retour la semaine du 26 août. - ...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Pierre Corby
  • Rémi Adam
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/26/2019

The market is holding up, but its apparent resilience is resting on very shaky foundations, in our view. For the time being, the results season has not delivered any unpleasant surprises thus far, but has not invalidated the downward trend in EPS growth. The erosion of PMI continues apace In this context, dependency on monetary policy increases. Lastly, our integration indicators for US-China trade tensions underscore, in the US as in Europe, in the wake of the post-G20 truce, the ret...

BUREAU VERITAS INTL. sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of BUREAU VERITAS INTL. (FR), a company active in the Business Support Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date November 1, 2019, the closing price was EUR 22.99 and its potential was estimated at EUR 24.19.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Delphine Chauvin

Bureau Veritas : IG label ?

Bureau Veritas is a world leader in valuation, compliance and certification services. The group boasts a strong operating profile, showing leadership in a fairly defensive sector, with positive structural changes and high barriers to entry. Its balance sheet shows contained debt levels, fairly stable over the long term, with an adjusted net debt/EBITDA ratio of about 2.5x, an FFO/net debt ratio of around 25% and EBITDA/interest expense cover in excess of 10x. Only the gearing rat...

Delphine Chauvin

Bureau Veritas : Certifié IG ?

Bureau Veritas fait partie des leaders mondiaux des services d’évaluation de conformité et de certification. Le groupe présente un profil opérationnel solide, évoluant en leader dans un secteur relativement défensif aux évolutions structurelles positives et bénéficiant de fortes barrières à l’entrée. Sa structure financière fait ressortir un endettement maîtrisé, relativement stable sur le long terme, avec un ratio ajusté Net debt/EBITDA d’environ 2.5x, un ratio FFO/Net debt auto...

Bureau Veritas SA (BVI) - Power - Deals and Alliances Profile

Summary Bureau Veritas SA (Bureau Veritas) is a testing, inspection and certification service provider that offers varied services such as asset management, certification, classification, consulting, inspection and audits, testing and analysis, and training. The company serves aeronautics, agriculture, automotive, construction and real estate, consumer products, food, governments and public organizations, industrial equipment, international trade, IT, telecommunication and electronics, maritime, metals and minerals, oil and gas, power and utilities, process industries, retail, services, and t...

Expert Corporate Governance Service (ECGS)

Bureau Veritas - AGM and EGM 14 May 2019

This year, the Company seeks shareholder approval for the remunerations of the Chairman as well as the CEO for 2018 and 2019. ECGS regrets that the amounts granted in 2018 were excessive for both the Chairman and the CEO, while the amounts for 2019 are excessive for the CEO, compared to peers. Moreover, Didier Michaud-Daniel’s remuneration is unsatisfactory regarding several elements. On one hand, the Company does not disclose the objectives in terms of performance for the annual bonuses. On the other hand, qualitative criteria represent 40% of the annual bonus. Hence, it is difficult for sh...

Florian Béchaz

Bureau Véritas - Assemblée générale des actionnaires du 14 mai 2019

Cette année, la société soumet au vote des actionnaires les rémunérations de son Président et de son Directeur Général pour les exercices 2018 et 2019. Proxinvest regrette que les montants attribués et attribuables au Président du Conseil soient trop généreux au regard de ceux de ses pairs. Aussi, la rémunération de Didier Michaud-Daniel laisse à désirer sur plusieurs éléments : le groupe ne communique en effet pas les objectifs en termes de performance pour les bonus annuels et pluriannuels, et les critères qualitatifs représentent 40% du bonus annuel, ce qui rend difficile pour l'actionnai...

Bureau Veritas – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jehanne Leroy

Proxy Report - 15/05/2018

This year, the company submits to the shareholders' vote the remuneration of each of its Chairman and Chief Executive Officer for the fiscal years 2017 (ex-post) and 2018 (ex-ante). Proxinvest regrets that the amounts awarded to the CEO are far too generous compared to those of his peers. In addition, compensation disclosure and structure could be significantly improved: the group does not communicate the performance objectives for annual and multi-year bonuses, and the qualitative criteria represent 40% of the annual bonus, which makes it difficult to measure alignment with performance. As...

Jehanne Leroy

Proxy Report - 15/05/2018

Cette année, la société soumet au vote des actionnaires les rémunérations de son Président et de son Directeur Général pour les exercices 2017 et 2018. Proxinvest regrette que les montants attribués et attribuables au Président du Conseil soient beaucoup trop généreux au regard de ceux de ses pairs. Aussi, la rémunération de Didier Michaud-Daniel laisse à désirer sur plusieurs éléments : le groupe ne communique en effet pas les objectifs en termes de performance pour les bonus annuels et pluriannuels, et les critères qualitatifs représentent 40% du bonus annuel, ce qui rend difficile pour l'...

Valérie GASTALDY

Analyse court terme - BUREAU VERITAS : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 18,557 €. La tendance de fond serait remise en cause en cas de franchissement de 20,670 €.

Valérie GASTALDY

Short term view - BUREAU VERITAS : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €18.557. The background trend would be questioned should prices rise above €20.670.

Valérie GASTALDY

Short term view - BUREAU VERITAS : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €18.557. The background trend would be questioned should prices rise above €20.670.

Valérie GASTALDY

Analyse court terme - BUREAU VERITAS : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 18,557 €. La tendance de fond serait remise en cause en cas de franchissement de 20,670 €.

Valérie GASTALDY

Analyse moyen terme - BUREAU VERITAS : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, et il y a une possibilité d'accélération baissière. Une nouvelle tendance baissière tente de démarrer.

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