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Bureau Veritas SA Comments on FY 2013 Revenue and Operating Profit Guidance; Issues H2 2013 Organic Growth Guidance; Confirms FY 2015 Targets; Acquires LVQ-WP; Sells Spanish and Brazilian Businesses


Wednesday, 28 Aug 2013 01:30am EDT 

Bureau Veritas SA announced that it expects to deliver growth in revenue and adjusted operating profit in fiscal year 2013. Organic growth in the second half of fiscal year 2013 should be in line with the level in the first half. The Group confirms the fiscal year 2012-2015 financial targets set out in the “BV2015: Moving forward with confidence" strategic plan: revenue growth of +9-12% on average per year, on a constant-currency basis and growth in adjusted EPS (earnings per share) of +10-15% on average per year between fiscal year 2011 and fiscal year 2015. The Company reported revenue of EUR 3.902 billion and EPS of EUR 0.90 in fiscal year 2012. According to I/B/E/S estimates, analysts on average are expecting the Company to report revenue of EUR 2.168 billion and EPS of EUR 0,99 for fiscal year 2013, and revenue of EUR 4.776 billion and EPS of EUR 1.21 for fiscal year 2015. The Company also announced that in Apr l 2013 it acquired LVQ-WP, a German group specialized in non-destructive testing and industrial inspection services. In Februaryc2013, the Company disposed of its infrastructure inspection activity in Spain as well as the company Anasol (laboratory testing activity) in Brazil in January 2013. Financial terms were not disclosed.