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Wendel

  • Group
    • Profession
    • Strategy
    • Our shareholders
    • History
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    In the world of investment, Wendel is unique.

    Its permanent capital and stable shareholder base give it the time and ability to carefully select and nurture the companies in which it invests. 

    Read more
  • Governance
    • Governance principles
    • Supervisory board
    • Executive Board

    Wendel is a company with an Executive Board and a Supervisory Board, thereby setting out a clear division of responsibilities between the executives and the shareholders and between the company's management and its supervision.

    Read more
  • Teams
    • Corporate teams
    • Investment teams

    Supporting investment with our international presence

    1.  France
    2.  United Kingdom
    3.  North America
    4.  Japan
    5.  Luxembourg
    6.  The Netherlands
    7.  Singapore
    8.  Morocco
  • Companies

    The companies in the Wendel Group are leaders in their industries and use innovation as the cornerstone of their development.

    Bureau Veritas
    c.35.8%
    Certification and verification
    Saint-Gobain
    2.6%
    Production, transformation and distribution of building materials
    IHS
    21.3%
    Mobile telephone infrastructures in Africa
    Constantia Flexibles
    60.6%
    Flexible packaging
    Allied Universal
    33%
    Security services
    Cromology
    89.8%
    Manufacture and distribution of paints
    Stahl
    62.6%
    High-performance coatings and leather-finishing products
    Tsebo
    64.7%
    Facilities services
  • Finance
    • Wendel in brief
    • Wendel share
    • Net asset value
    • Results
    • Credit Investors
    • Individual shareholders
    • Annual General Meetings
    • Investor Days
    • Other presentations
    • Financial agenda
    • Regulated information
    • Coverage by analysts
    • Tools and downloads
    • Contacts

    17/10/2014 12:09:09

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    NAV per share as of 11/16/18
    €145.1

    Press releases

    2017 Registration Document

  • Commitments
    • Values
    • Code of Ethics
    • Corporate social responsibility
    • The Wendel International Center for Family Enterprise
    • Centre Pompidou-Metz

    The Pompidou-Metz Center

    Wendel plans for the long-term growth of the companies it invests in and knows that a company’s longevity depends on the balance between its business model, its markets, the well-being of its people, and its place in the environment.

    Read more

 

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video bureau veritas
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c.35,8
Capital held by Wendel
(1) as of October 30, 2018.
Bureau Veritas pursues its growth and global leadership strategy
Bureau Veritas is the world’s second-largest provider of compliance and certification and laboratory testing services in the areas of quality, health, environment and social responsibility (QHSE-SR). The group derives more than 50% of its sales from high-growth countries.

Key figures

2017 sales

€4,689m

Present in

140 countries

Amount invested by Wendel

€309.8m since 1995 (2)

Offices and laboratories

1,400

Employees

74,000

Clients

over 400,000

Wendel's role in corporate governance

5 board members

(2) Amount of equity invested by Wendel as of June 30, 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 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.

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


    10.30.2018 - Wendel announces the completion of the sale of 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 - 627.31 Ko - PDF


    10.29.2018 - Wendel sells 4.73% of Bureau Veritas’ share capital

    10.29.2018 - Wendel sells 4.73% of Bureau Veritas’ share capital - 99.47 Ko - PDF


    03.06.2015 - Wendel announces the completion of the sale of 10.9% of Bureau Veritas’ share capital

    03.06.2015 - Wendel announces the completion of the sale of 10.9% of Bureau Veritas’ share capital - 315.23 Ko - PDF


    03.05.2015 - Wendel sells 10.9% of Bureau Veritas’ share capital

    03.05.2015 - Wendel sells 10.9% of Bureau Veritas’ share capital - 314.25 Ko - PDF


    03.26.2009 - Frédéric Lemoine to be appointed as Head of Executive Board

    03.26.2009 - Frédéric Lemoine to be appointed as Head of Executive Board - 19.22 Ko - PDF


    03.05.2009 - Wendel has successfully completed the placing of a 10% stake in Bureau Veritas

    03.05.2009 - Wendel has successfully completed the placing of a 10% stake in Bureau Veritas - 40.75 Ko - PDF


    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

    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 - 20.84 Ko - PDF


    10.09.2007 - Bureau Veritas lance son introduction en bourse (in French)

    10.09.2007 - Bureau Veritas lance son introduction en bourse (in French) - 142.75 Ko - PDF


    09.17.2007 - 12 acquisitions signées depuis le 1er janvier 2007 représentant plus de 230 millions d’euros de chiffre d’affaires annuel cumulé (in French)

    09.17.2007 - 12 acquisitions signées depuis le 1er janvier 2007 représentant plus de 230 millions d’euros de chiffre d’affaires annuel cumulé (in French) - 42.93 Ko - PDF


    12.03.2004 - Wendel Investissement to own 99% of Bureau Veritas

    12.03.2004 - Wendel Investissement to own 99% of Bureau Veritas - 27.71 Ko - PDF


    11.02.2004 - Takeover of Bureau Veritas - Offer made to minority shareholders of Bureau Veritas

    11.02.2004 - Takeover of Bureau Veritas - Offer made to minority shareholders of Bureau Veritas - 25.5 Ko - PDF


    09.16.2004 - Offer to minority shareholders of Bureau Veritas Wendel Investissement share buyback program

    09.16.2004 - Offer to minority shareholders of Bureau Veritas Wendel Investissement share buyback program - 24.49 Ko - PDF


    09.06.2004 - 66% controlling interest in Bureau Veritas

    09.06.2004 - 66% controlling interest in Bureau Veritas - 110.8 Ko - PDF

    New strategy to improve Bureau Veritas's growth profile, resilience and profitability

    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:

    • Five Growth Initiatives that represent circa 30% of Group revenue: Building & Infrastructure, Opex in the energy sectors (oil & gas, power & utilities and chemicals), Agri Food, Automotive and SmartWorld;
    • Two key countries, namely the USA and China;
    • Four main levers: Human Resources, Key Account Management, Excellence@BV and Digital.

    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:

    • Confirmed return to a 5-7% organic revenue growth pace by 2020
    • Increased Group revenue by circa €1.5bn in 2020 vs. 2015[1], equally balanced between organic growth and acquisitions
    • An adjusted operating margin target above 17% by 2020 and
    • Continuous high free cash flow generation
     


    [1] At initial plan exchange rates (as presented during October 2015 Investor Days)

     

    “Wendel is our stable core shareholder. We can count on the strength of Wendel in pursuing our development strategy.”

    Didier Michaud-Daniel

    Chief Executive Officer of Bureau Veritas

    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  
    Lucia Sinapi-Thomas (Deputy CFO of CapGemini), representing Wendel

    Strategic Committee

    André François-Poncet (Chairman) 
    Stéphane Bacquaert

    Audit and Risk Committee

    Lucia Sinapi-Thomas

    A day with Bureau Veritas

    Watch the video

    Latest News

    01.31.2019

    Eduardo Camargo appointed Executive Vice President Bureau Veritas Group Transformation & Business Development

    Eduardo Camargo appointed Executive Vice President Bureau Veritas Group Transformation & Business Development - 204.29 KB - PDF
    01.23.2019

    Expo 2020 Dubai:Bureau Veritas to sponsor the French Pavilion

    Expo 2020 Dubai:Bureau Veritas to sponsor the French Pavilion - 222.61 KB - PDF
    01.17.2019

    Matthieu de Tugny appointed Bureau Veritas Executive Vice President in charge of the Marine & Offshore Division

    Matthieu de Tugny appointed Bureau Veritas Executive Vice President in charge of the Marine & Offshore Division - 208.68 KB - PDF
    01.16.2019

    Bureau Veritas acquires Capital Energy and strengthens its energy efficiency business

    Bureau Veritas acquires Capital Energy and strengthens its energy efficiency business - 202.76 KB - PDF
    01.03.2019

    Bureau Veritas crée un leader des essais alimentaires en Asie du Sud-Est en partenariat avec AsureQuality

    Bureau Veritas crée un leader des essais alimentaires en Asie du Sud-Est en partenariat avec AsureQuality - 215.36 KB - PDF

    For more information

    • Bureau Veritas' website
    • Twitter
    • Linkedin

    Files to download

    • Bureau Veritas 2017 Registration Document
    • Groupe
      • Profession
      • Strategy
      • Our shareholders
      • History
      • Contacts

      In the world of investment, Wendel is unique.

      Its permanent capital and stable shareholder base give it the time and ability to carefully select and nurture the companies in which it invests. 

      Read more
      • Profession
      • Strategy
      • Our shareholders
      • History
      • Contacts
    • Gouvernance
      • Governance principles
      • Supervisory board
      • Executive Board

      Wendel is a company with an Executive Board and a Supervisory Board, thereby setting out a clear division of responsibilities between the executives and the shareholders and between the company's management and its supervision.

      Read more
      • Governance principles
      • Supervisory board
      • Executive Board
    • Équipes
      • Corporate teams
      • Investment teams

      Supporting investment with our international presence

      1.  France
      2.  United Kingdom
      3.  North America
      4.  Japan
      5.  Luxembourg
      6.  The Netherlands
      7.  Singapore
      8.  Morocco
      • Corporate teams
      • Investment teams
    • Companies

      The companies in the Wendel Group are leaders in their industries and use innovation as the cornerstone of their development.

      Bureau Veritas
      c.35.8%
      Certification and verification
      Saint-Gobain
      2.6%
      Production, transformation and distribution of building materials
      IHS
      21.3%
      Mobile telephone infrastructures in Africa
      Constantia Flexibles
      60.6%
      Flexible packaging
      Allied Universal
      33%
      Security services
      Cromology
      89.8%
      Manufacture and distribution of paints
      Stahl
      62.6%
      High-performance coatings and leather-finishing products
      Tsebo
      64.7%
      Facilities services
      • Bureau Veritas
      • Saint-Gobain
      • IHS
      • Constantia Flexibles
      • Allied Universal
      • Cromology
      • Stahl
      • Tsebo
    • Finance
      • Wendel in brief
      • Wendel share
      • Net asset value
      • Results
      • Credit Investors
      • Individual shareholders
      • Annual General Meetings
      • Investor Days
      • Other presentations
      • Financial agenda
      • Regulated information
      • Coverage by analysts
      • Tools and downloads
      • Contacts

      17/10/2014 12:09:09

      Loading...

       

      NAV per share as of 11/16/18
      €145.1

      Press releases

      2017 Registration Document

      • Wendel in brief
      • Wendel share
      • Net asset value
      • Results
      • Credit Investors
      • Individual shareholders
      • Annual General Meetings
      • Investor Days
      • Other presentations
      • Financial agenda
      • Regulated information
      • Coverage by analysts
      • Tools and downloads
      • Contacts
    • Engagements
      • Values
      • Code of Ethics
      • Corporate social responsibility
      • The Wendel International Center for Family Enterprise
      • Centre Pompidou-Metz

      The Pompidou-Metz Center

      Wendel plans for the long-term growth of the companies it invests in and knows that a company’s longevity depends on the balance between its business model, its markets, the well-being of its people, and its place in the environment.

      Read more
      • Values
      • Code of Ethics
      • Corporate social responsibility
      • The Wendel International Center for Family Enterprise
      • Centre Pompidou-Metz
    • Press portal
      • Individual shareholders
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    • Group
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    • Companies
      • Bureau Veritas
      • Saint-Gobain
      • IHS
      • Constantia Flexibles
      • Allied Universal
      • Cromology
      • Stahl
      • Tsebo
    • Finance
      • Wendel in brief
      • Wendel share
      • Net asset value
      • Results
      • Credit Investors
      • Individual shareholders
      • Annual General Meetings
      • Investor Days
      • Other presentations
      • Financial agenda
      • Regulated information
      • Coverage by analysts
      • Tools and downloads
      • Contacts
      • Registration document
    • Commitments
      • Values
      • Code of Ethics
      • Corporate social responsibility
      • The Wendel International Center for Family Enterprise
      • Centre Pompidou-Metz
    • Individual shareholders
    • Press portal