Bureau Veritas : Q3 organic sales growth in line with our estimate – Guidance confirmed
>Strong momentum in M&O, Certification and Industry – CPS flat as expected - Yesterday evening Bureau Veritas reported Q3 sales slightly below our estimate and the consensus. Q3 sales fell 2.3% to € 1,424m (ODDO BHF Securities estimate: -0.9% to € 1,444m, consensus: 0.5% to € 1,460m) primarily due to a negative forex effect of 8.4 %, much worse than expected (ODDO BHF Securities estimate: -6.5%e, css -6.3%). Changes to the consolidation scope had a +0.3% impact (ODDO...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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