Bureau Veritas : After the SGS warning and the China situation, a minor profit warning appears an increasingly credible scenario
>A minor profit warning should not be ruled out, in our view - We think that the group carries a moderate risk of a profit warning, a prediction strengthened since the profit warning from SGS at its CMD last week. The group stated an overall margin target of 16.0%, factoring in the impact of lockdowns in China (vs a margin increase outside of China, with 16.1% in 2021 as a reference point. Our 2022 figures still show 16.0%, but depending on the coming weeks in China, ...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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