Report
Emira Sagaama ...
  • Matthias Desmarais

Bureau Veritas : Focus on margin expansion and FCF in 2019

>Preview of Q4 results: a minor quarter in terms of organic growth - After an increase of close to 5% in Q3, organic growth is expected to slow in Q4 to 2.7%. Whilst the upturn in the marine segment is set to continue (7% of sales, up +3% est. in Q4 vs +1% in Q3), certification is set to move into negative territory (7% of sales, down -5% est. vs +14.9% in Q3) after benefiting from the revision to ISO norms that were finalised in September, and the comparison base is ...
Underlying
Bureau Veritas SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Emira Sagaama

Matthias Desmarais

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