Bureau Veritas : T1 résilient, le T2 le sera beaucoup moins
>Un début d’année au-dessus des attentes - Le CA est ressorti à 1.14 Md€ en ligne avec nos attentes mais 5% au-dessus du consensus. La légère décroissance organique est une surprise positive, elle ressort à -1.6% (vs +5.3% au T4 19), ce qui se compare à -3.3% attendus par nous et -6.5% pour le consensus. Dans les bonnes surprises, il y a l’accélération de la Marine (+8.7% en organique au T1, ODDO BHF stable) et la bonne tenue de l’Industrie (+2.9% au T1, ODDO BHF 2%e)...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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