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 at a price of €37.75 per share (€9.44 after adjusting for the four-for-one split on June 21, 2013), enabling it to continue its international expansion.
In 2015, after conducting an in-depth analysis of the Testing, Inspection and Certification (TIC) market, Bureau Veritas has defined its strategy to enhance its growth profile, resilience, and profitability in the medium to long term.
Initially, the strategy announced in October 2015 was based on eight Growth Initiatives. A year through the strategic plan, Bureau Veritas conducted a full reassessment of its Growth Initiatives and has decided to focus its development efforts on five initiatives.
The strategy is therefore based on:
Due to cyclical headwinds in some activities (oil & gas capex, upstream Metals & Minerals) since the plan started, the Group now expects a one-year delay in the achievement of its initial ambition.
In the medium term, Bureau Veritas aims to:
 At initial plan exchange rates (as presented during October 2015 Investor Days)
Chairman of the Board
Board of Directors
André François-Poncet (Vice-Chairman)
Lucia Sinapi-Thomas (Deputy CFO of CapGemini), representing Wendel
André François-Poncet (Chairman)
Audit and Risk Committee