(AOF) – Bureau Veritas, a specialist in testing, inspection and certification, announces the appointment of Marc Roussel as of March 1, 2023, as Executive Vice-President Raw Materials, Industry & Infrastructures (CIF), France and Africa. He will report to Hinda Gharbi, Deputy Chief Executive Officer of Bureau Veritas, and will join the Group’s Executive Committee. He will replace Jacques Pommeraud, who has decided to leave the company to pursue a new professional project.
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Key points
– Group born in 1828, world leader (5% of the market) in the product inspection and certification market;
– Turnover of €4.6 billion generated by six divisions: building & infrastructure (29%), agri-food & raw materials (21%), industry (20%), consumer goods (14%), certification (8%) and marine & offshore (8%);
– Turnover split between Europe for 36%, Asia-Pacific for 31% (including China, the group’s leading country by headcount and turnover), the Americas for 24% and Africa-Middle East;
– Business model based on exploiting the value of existing activities and technological changes and on the selectivity of growth opportunities;
– Capital 35.48% controlled by Wendel, Aldo Cardoso chairing the 12-member Board of Directors, Didier Michaud-Daniel being Chief Executive Officer;
– Solid balance sheet with a leverage effect of €1.1 and €1.5 billion in cash at the end of September, the debts being all at fixed rates with maturities beyond 2024.
Challenges
– 2025 strategy based on 3 growth drivers:
– scale (standardization of the offer), expand (energy transition and sustainability issues) and lead (in connectivity, cybersecurity and traceability),
– single-digit annual growth in revenues and operating margin of +16%;
– Innovation strategy with 3 priorities: digital efficiency of operations via collaboration platforms, use of alternative digital models and diversification towards cybersecurity, protection of personal data (at least 5% of IT expenditure) and connectivity:
– incubation programs, Data lab, research partnerships,
– partnerships with Microsoft, DS, Worldline, Cornis, Ergoss…;
– 2025 environmental strategy driven by the internal Clarity solution:
– reduction of annual CO2 emissions to 2 tonnes per employee per year,
– 58% of sales from BV green line services;
– customer support with the provision of Clarity solutions;
– Resilient business portfolio, 45% from long contracts;
– Increase in sustainability-related sales (approximately 55%);
– After the 4 operations carried out before September, towards other acquisitions in renewable energies, building, consumer goods, cybersecurity and sustainability insurance, especially in North America;
– 3 advantages: reputation for integrity, public approvals and accreditations, density of the network.
Challenges
– Differences in margins between divisions, with building and industry activities being the lowest margins;
– Impact of inflation mainly on wages: passed on to selling prices on consumer markets, deferred on multi-year contracts;
– Negative impact of confinements in China (15% of revenues);
– After a 17% increase in revenues at the end of September, confirmed 2022 objectives of moderate revenue growth and improved operating margin.