Bureau Veritas : H1 results better than expected – Guidance raised – Growth expected to remain strong in H2. Target price € 33 vs € 32
>H1 revenue well ahead of expectations - Bureau Veritas reported its H1 results yesterday after trading. Revenue came in above expectations at € 3,022m, up 4.0% vs H1 2023, compared with our expectation of € 2,972m and the consensus expectation of € 2,971m. Organic growth was 9.2% in H1 (+7.3%e ODDO BHF, +7.3% consensus), including 10.4% in Q2 (+6.6%e ODDO BHF, +6.5% consensus), accelerating sequentially (8.0% in Q1 and despite a demanding comparison base (+10.3% in H...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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