Wendel
c.36
(1) Share of equity owned by Wendel as of June 11, 2019 net of treasury shares for 51.8% of voting rights
Bureau Veritas pursues its growth and global leadership strategy
Bureau Veritas is the world’s second-largest provider of compliance and certification services in the areas of quality, health, safety, environment and social responsibility (QHSE-SR). The Group derives approximately 50% of its sales from high-growth countries.
Key figures
2018 sales
€4,796m
Present in
140 countries
Amount invested by Wendel
€309.8m since 1995 (2)
Offices and laboratories
> 1,500
Employees
> 75,000
Clients
400,000
Wendel's role in corporate governance
4 board members
(2) Amount of equity invested by Wendel for the stake held as of December 31, 2018.
Why did we invest in Bureau Veritas?
Bureau Veritas is ideally positioned in markets driven by long-term, structural trends. QHSE regulations and standards are proliferating and becoming tougher to meet. Increasingly, certification and inspection activities are being outsourced. Health and environmental protection standards are becoming more stringent. And trade has become global.
Since it was founded in 1828, Bureau Veritas has gradually built up its globally renowned expertise. The market that Bureau Veritas addresses has numerous barriers to entry. Operating certification and approval are mandatory in each country. Service providers must offer a comprehensive range of inspection services (in particular for major clients) and extensive geographical coverage both locally and internationally. They must provide high value-added solutions through first-rate technical expertise and enjoy a reputation of independence and integrity. Wendel has gradually increased its holding in Bureau Veritas. When Wendel made its initial €25 million investment in 1995, obtaining 19% of the share capital, Bureau Veritas generated annual sales of less than €400 million. Wendel then supported the Company’s growth, until it held 99.2% of the capital in 2004. In 2007 Bureau Veritas was listed on the stock exchange, enabling it to continue its international expansion.
Key milestones of the investment
-
09.06.2004
66% controlling interest in Bureau Veritas -
09.16.2004
Offer to minority shareholders of Bureau Veritas -
11.02.2004
Takeover of Bureau Veritas - Offer made to minority shareholders of Bureau Veritas -
12.03.2004
Wendel Investment to own 99% of Bureau Veritas -
09.10.2007
Bureau Veritas lance son introduction en bourse -
09.17.2007
12 acquisitions signées depuis le 1er janvier 2007 représentant plus de 230 millions d’euros de chiffre d’affaires annuel cumulé -
10.23.2007
IPO of Bureau Veritas: Wendel sells 27.7 million shares at €37.75 per share and retains 67.6% of the capital of Bureau Veritas -
03.05.2009
Wendel has successfully completed the placing of a 10% stake in Bureau Veritas -
03.26.2009
Frédéric Lemoine to be appointed as Head of Executive Board -
03.05.2015
Wendel sells 10.9% of Bureau Veritas’ share capital -
03.06.2015
Wendel announces the completion of the sale of 10.9% of Bureau Veritas's share capital -
10.29.2018
Wendel sells 4.73% of Bureau Veritas’ share capital -
10.30.2018
Wendel announces the completion of the sale of 4.73% of Bureau Veritas’ share capital
- 66% controlling interest in Bureau Veritas - 110.8 KB - PDF
- Offer to minority shareholders of Bureau Veritas - 24.49 KB - PDF
- Takeover of Bureau Veritas - Offer made to minority shareholders of Bureau Veritas - 25.5 KB - PDF
- Wendel Investment to own 99% of Bureau Veritas - 27.71 KB - PDF
- Bureau Veritas lance son introduction en bourse - 142.75 KB - PDF
- 12 acquisitions signées depuis le 1er janvier 2007 représentant plus de 230 millions d’euros de chiffre d’affaires annuel cumulé - 42.93 KB - PDF
- IPO of Bureau Veritas: Wendel sells 27.7 million shares at €37.75 per share and retains 67.6% of the capital of Bureau Veritas - 20.84 KB - PDF
- Wendel has successfully completed the placing of a 10% stake in Bureau Veritas - 40.75 KB - PDF
- Frédéric Lemoine to be appointed as Head of Executive Board - 19.22 KB - PDF
- Wendel sells 10.9% of Bureau Veritas’ share capital - 314.25 KB - PDF
- Wendel announces the completion of the sale of 10.9% of Bureau Veritas's share capital - 315.23 KB - PDF
- Wendel sells 4.73% of Bureau Veritas’ share capital - 99.47 KB - PDF
- Wendel announces the completion of the sale of 4.73% of Bureau Veritas’ share capital - 627.31 KB - PDF
Read the press releases
Outlook for development
Bureau Veritas reaffirms its 2020 ambition:
- adding €1.5 billion of incremental revenue based on the 2015 plan’s initial exchange rates(1), half organic and half through external growth;
- reaching 5% to 7% of organic growth by 2020;
- to achieve an adjusted operating margin above 17% by 2020(1); and
- to continue to generate high free cash flow.
The Group is also committed to its extra-financial performance. The main extra-financial targets of Bureau Veritas for 2020 are as follows:
- Health and Safety: Reduce accident rates by 50% (TAR: Total Accident Rate, LTR: Lost Time Rate)(2);
- Inclusion: Achieve 25% female representation on the Group’s executive management team;
- Environment(3): Reduce CO2 emissions by 10% per full-time equivalent employee; Increase the use of renewable energies by 10%; Have 75% of with the Group’s businesses ISO 14001 certified (environmental management).
(1) At the 2015 plan’s initial exchange rates, as presented at the October 2015 Investor Days.
(2) TAR: Total Accident Rate; LTR: Lost Time Rate. Compared to 2014 consolidated results
(3) Compared to 2015 consolidated results.
“Wendel is our stable core shareholder. We can count on the strength of Wendel in pursuing our development strategy.”
Top management
Didier Michaud-Daniel
CEO
Aldo Cardoso
Chairman of the Board
Wendel's role in corporate governance
Board of Directors
André François-Poncet (Vice-Chairman)
Stéphane Bacquaert
Stéphanie Besnier
Claude Ehlinger
Strategic Committee
André François-Poncet (Chairman)
Stéphane Bacquaert
Nomination & Compensation Committee
Claude Ehlinger
Audit and Risk Committee
Stéphanie Besnier
A day with Bureau Veritas
