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 ...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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