2010 Activity Report - Bureau Veritas

More documents

Recommendations

Info

ConstructionAdjusting our service mixto client needsFocus on existing assetsIn the wake of the economic crisis,the construction market has changedsignificantly. A sharp decline instate-financed infrastructure projectshas occurred in Europe, notably inSpain. In residential and commercialproperty construction, demand forcode compliance assessment has yet toreturn to pre-recession levels in Europeand the United States.Bureau Veritas has responded byadjusting its service mix to client needsand long-term trends. In maturecountries, we are focusing on PropertyCondition Assessment and Monitoring(PCAM), a packaged serviceencompassing due diligence, technicalrisk assessment and compliancemonitoring of existing assets andinfrastructures. PCAM, which includesseismic risk analysis, is now beingpromoted as an all-in-one solutionfor multinational companies to ensureconsistent quality and safety in theirasset portfolios.We are developing Green Building servicesto comply with tighter energy efficiencyand carbon emission standards, andtake advantage of incentives for buildingenhancement. In early 2011, the Groupwill launch the Green Rating Alliance inpartnership with leading global propertyinvestment companies, along with keyengineering companies and technicalcontrol bodies, to assess theenvironmental performance of existingcommercial buildings in Europe, aninitiative likely to be rolled out in Asia.Growth marketsThe greatest potential for newinfrastructure and building projectslies in emerging countries and theMiddle East. We are providingConstruction Project ManagementAssistance to meet the need of ownersfor risk management, with servicesin design review, quality control andschedule and cost monitoring. Thanksto synergies with the Industry business,we are also conducting technicalinspection and third party monitoring forclients on new industrial projects in theseregions.Inherent Defect Insurance (IDI) inspectionand verification at the request of insurersand re-insurers is another promisingavenue for growth. IDI services covera whole range of construction projectsinvolving design verification, worksitemonitoring and regular reporting.HIGHLIGHTS• Patent on earthquake resistanceassessment methodology awardedto Bureau Veritas, paving the wayfor worldwide contracts with L’Oréaland Air France for seismic diagnostics.• Building project managementassistance for 11 pavilions at Expo2010 in Shanghai; Jim Gang Awardfor the Italian pavilion.• Key contract wins: projectmanagement for the new Splendoraurban area in Vietnam, major US powerplants and West African stadiums forCAN International; diagnosis campaignin France for existing public buildings.• Technical center opened in Chinafor LEED green building certification.22
REVENUE (in millions of euros)ADJUSTED OPERATING MARGIN(% of revenue)457.5427.88.9% 10.2%IN BRIEFThe real estate market was still experiencing severe upheavalin 2010, with continued contraction of investments in newconstruction in the mature countries. We are concentratingon services to assess and improve the safety and sustainableuse of existing assets, with special emphasis on energy efficiencyand carbon reduction. The outlook is favorable for inherent defectassessments and project management, which are set to expandin emerging countries.09 10Progressive recovery in organic growthwas observed in 2010. The market reboundin Asia was confirmed, with strong growth inJapan. The construction market stabilized atyear-end in France, but remained depressedfor US Code Compliance and newinfrastructures in Spain.BUREAU VERITAS 2010 ACTIVITY REPORT 23
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 20 and 21: IndustryWhen conformity andreliabil
Page 22 and 23: In-Service Inspection & Verificatio
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?