2010 Activity Report - Bureau Veritas

More documents

Recommendations

Info

IndustryWhen conformity andreliability are the coremarket concernsA dynamic global marketThe focus of Industry business is in linewith two major long-term trends. Thefirst pertains to conformity assessmentof new and existing infrastructuresand the growing complexity of projectsand operations. In mature countries,companies need to ensure the reliabilityof ageing assets and extend theiroperating life. They must also comply withtighter regulations to meet higher quality,health & safety and environmental (QHSE)standards. Regions undergoing rapidindustrialization are enjoying a boom ininvestments in industrial assets in thepower, oil and gas sectors, transportationinfrastructures, process industries andmanufacturing.Global demand for asset-related servicesis expected to keep rising with increasedQHSE management outsourcing,voluntary inspections and risk-basedverification processes entailing greaterinvolvement of specialized third parties,particularly in the US offshore sector.Added-value services such as assetintegrity management, risk-basedinspection, reliability-centeredmaintenance using non-destructivetesting and procurement-relatedservices will continue to be key driversof the Group’s activities.New opportunitiesIncreasing interest in power industries,intensified by depletion of traditionalenergy sources and environmentalconcerns, is the second major trend.We have consolidated our global reachin the power sector, with specializedengineers worldwide, a larger client baseof facility operators and manufacturersand a broad services portfoliostrengthened by the acquisition of thenuclear branch of Thémis-Ingénierie,a French company specializing in riskmanagement auditing. With thereinforcement of certification servicesin the nuclear sector, we expectaccelerated implementation of the NSQ100 standard developed jointly by BureauVeritas and Areva. The new standard isdesigned to improve quality managementof the supply chain of utilities, engineeringand manufacturing companies.Industry business prospects in therenewable energies segment look equallypromising, with strong growth of contractsto inspect photovoltaic and wind farmfacilities and equipment.HIGHLIGHTS• Key contract wins for gas terminalconstruction inspection and qualitycontrol of gas field developmentin China, third-party verificationof subsea equipment in the USand Norway’s Goliat offshore projectand procurement services.• Nuclear sector: acquisition of thenuclear branch of Thémis-Ingénierie(France), development of the NSQ 100standard, quality assurance contractsin Europe and new contracts in China.• Strong growth of contracts to inspectphotovoltaic and wind farm facilitiesand equipment.• Recovery in minerals testing that willbecome a segment of the newly createdCommodities business in 2011.18
REVENUE (in millions of euros)ADJUSTED OPERATING MARGIN(% of revenue)630757.411.9% 11.7%IN BRIEFThe Industry business is growing in an extremely active globalmarket. Bureau Veritas is particularly well positioned to seizeopportunities in developing regions. We are pursuing a strategyof continuous expansion of our network and offerings in assetprotection, notably in the energy sector. Maintaining our technicalleadership in areas such as deepwater offshore facilities andthe nuclear sector is key. Growth is also expected in the processindustries, rail sector and industrial equipment.09 10Our performance remained strong,especially in fast-growing regionsbenefiting from ongoing investment innew industrial facilities. Growth was alsospurred by increased demand worldwidefor procurement-related services andsafety and reliability improvement.BUREAU VERITAS 2010 ACTIVITY REPORT 19
Page 1 and 2: 2010 Activity Report
Page 5 and 6: TitreOur broad range of services is
Page 8 and 9: Interview with the Chairman and Chi
Page 10 and 11: Interview with the Chairman and Chi
Page 12 and 13: Key figuresIn a context of slow eco
Page 14 and 15: Bureau Veritas and its shareholders
Page 16 and 17: Our businessesMARINE • INDUSTRY
Page 18 and 19: MarineLeveraging ourtechnical exper
Page 22 and 23: In-Service Inspection & Verificatio
Page 24 and 25: ConstructionAdjusting our service m
Page 26 and 27: CertificationRising engagementin en
Page 28 and 29: CommoditiesA decisive step forwardi
Page 30 and 31: Consumer productsInnovative solutio
Page 32 and 33: Government Services & International
Page 34 and 35: Corporate socialBureau Veritas focu
Page 36 and 37: Corporate social responsibilityMeet
Page 38 and 39: Corporate social responsibilityComp
Page 40 and 41: Corporate social responsibilityEnga
Page 42 and 43: Corporate social responsibilityProt
Page 44 and 45: Consolidated financial statementsSU
Page 46: MoreaboutBureauVeritaswww.bureauver

2010 Activity Report - Bureau Veritas

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?