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

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...

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...

Bruno de La Rochebrochard

BUREAU VERITAS | BUY | EUR25.5 Feedback CC Q1 Revenue: Sustained organic as expected. Guidance confirmed

BUREAU VERITAS | BUY | EUR25.5 Feedback CC Q1 Revenue: Sustained organic as expected. Guidance confirmed

Bruno de La Rochebrochard

BUREAU VERITAS | BUY | EUR25.5 Feedback CC Q1 Revenue: Sustained organic as expected. Guidance confirmed

BUREAU VERITAS | BUY | EUR25.5 Feedback CC Q1 Revenue: Sustained organic as expected. Guidance confirmed

Michael Field

Morningstar | Narrow-Moat Bureau Veritas Has a Positive Start to the Year

Narrow-moat testing giant Bureau Veritas verified a solid first quarter, with organic revenue growth of 4%, in line with the pattern witnessed in full-year 2018. Management confirmed full-year 2019 outlook and we believe the business is on track to meet our expectations. As such, we do not expect to make any changes to our numbers or to our EUR 21 fair value estimate. We believe the shares are currently fairly valued. One of the most encouraging aspects of these results was the broad-based nature of the top-line growth. While the certification business saw organic revenue declines, due to tou...

Michael Field

Narrow-Moat Bureau Veritas Has a Positive Start to the Year

Narrow-moat testing giant Bureau Veritas verified a solid first quarter, with organic revenue growth of 4%, in line with the pattern witnessed in full-year 2018. Management confirmed full-year 2019 outlook and we believe the business is on track to meet our expectations. As such, we do not expect to make any changes to our numbers or to our EUR 21 fair value estimate. We believe the shares are currently fairly valued. One of the most encouraging aspects of these results was the broad-based natur...

Emira Sagaama ...
  • Matthias Desmarais

Bureau Veritas : A good start to the year in line with expectations

>Start of the year in line with expectations - Q1 sales were exactly in line with expectations at € 1,175m, up 6.8% y-o-y. The forex effect is slightly positive at +1% (ODDO BHF +1.2%e) whilst acquisitions contributed +1.8% (ODDO BHF’s estimate: +1.5%). Organic growth came in 4%, slightly ahead of our expectations (+3.8%e) and in line with the consensus (+4.0%). The start of the year is in line with guidance for “solid” growth in 2019, which we understand is “in line ...

Emira Sagaama ...
  • Matthias Desmarais

Bureau Veritas : Bon début d’année en ligne avec les attentes

>Un début d’année parfaitement en ligne avec les attentes - Le CA T1 est ressorti parfaitement en ligne avec les attentes à 1 175 M€ en progression de 6.8% yoy. L’effet changes est légèrement positif à +1% (ODDO BHF +1.2%e) alors que les acquisitions contribuent à +1.8% (ODDO BHF +1.5%e). La croissance organique ressort à 4% légèrement au-dessus de nos attentes (+3.8%e) et en ligne avec le consensus (+4.0%). Le début d’année est dans la lignée de la guidance sur une c...

A director bought 1,200 shares at 21.472EUR and

A director at Bureau Veritas bought 1,200 shares at 21.472EUR 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...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/26/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/04/2019

...

Ahmed Ben Salem ...
  • Alain William
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Olfa Taamallah
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/01/2019

Unlike CEO pay, the average remuneration paid to the chairs of the boards of directors of the large cap companies covered by ODDO BHF increased by 4.9% between 2013 and 2017. The disparities between companies stem mainly from national contexts and widely differing perceptions of the role of the board chair depending on the countries, though for certain stocks the ownership structure and sector situation may have an influence. Cf. Report published last evening. - ...

Ahmed Ben Salem ...
  • Alain William
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Christophe Chaput
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Olfa Taamallah
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 01/03/2019

Contrairement aux rémunérations de CEO, la moyenne des sommes versées aux présidents de conseil d’administration dans les large caps suivies chez Oddo BHF a connu une hausse de 4.9% entre 2013 et 2017. Les disparités entre les sociétés relèvent principalement de contextes nationaux et d’une perception du rôle de président(e) très différents selon les pays, même si la situation actionnariale et sectorielle peut, pour certaines valeurs, avoir une influence. Cf. étude publiée hier. - ...

Christophe Chaput ...
  • Emira Sagaama
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/28/2019

...

With a more favourable environment, BUREAU VERITAS INTL. improves to Slightly Positive

BUREAU VERITAS INTL. (FR), a company active in the Business Support Services industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date February 15, 2019, the closing price was EUR 19.64 and its potential was estimated at EUR 20.90.

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...

Bureau Veritas SA (BVI) - Oil & Gas - 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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