Bureau Veritas Italy set new goals
French worldwide certification company Bureau Veritas Italy granted greater powers and responsibilities to its subsidiary headquartered in Milan
French worldwide certification company Bureau Veritas Italy focused its strategy on two key factors, based on the positive results published and following the assignment of direct responsibility and jurisdiction on an increasing number of Countries to its Italian subsidiary.
In particular, the jurisdiction of its Italian branch headquartered in Milan (active on the market since 180 years) was expanded to include Eastern Europe and Baltic areas, which recorded the most significant growth rates in the European market.
Bureau Veritas Italia CEO Ettore Pollicardo explained that diversification is designed to enter new industrial sectors such as advanced technology and research, also through take-overs of leading companies in order to enter new specialized markets.
“At present, our company is fully responsible in 19 Countries, therefore for the implementation of verification, inspection and certification activities in said highly strategic geographical areas. The results recorded in 2018 and in the first half of this year are very encouraging for the implementation of an additional development plan providing for the entry into new industrial and technological sectors, also through imminent take-overs”.
At a global level, Bureau Veritas closed the first half of 2019 with a 2.477 billion euro turnover, recording a 5.9% growth, while profits amounted to 380.5 million euro (+ 15.4%).
Its Paris-based top management revealed its strategic decision to keep on investing in new sectors such as agrifood (recording a 9.6% growth in turnover), commodities and infrastructures, as well as to enter new highly specialized industries.
The growth of certification and consultancy activities in the marine and offshore sectors was above average (7%). More precisely, in the first half of 2019 Bureau Veritas recorded a significant growth in the Marine & Offshore (7% of the group’s turnover) and Oil & Gas (4%) sectors, which increased by 5.4% and 7.8% respectively.
The increase in turnover was due to the orders related to newbuildings, having a significant impact on equipment certification.
Negative data result from the very low development rate of the world’s fleet: at the end of June 2019 new orders achieved 3.5 million gross tonnage, and the BV group benefited from its strong positioning in the LNG/LPG and passengers’ ships sectors (especially expedition/polar units).