2010 Activity Report - Bureau Veritas

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Government Services & International TradeAdapting toa changing marketExpanded VOC servicesThe Government Services & InternationalTrade business bounced back in 2010,with a strong increase in volumesinspected offsetting a slow recovery inthe FOB (Free on Board) value of imports.Despite increasing competition, theGroup maintained its global leadershipin Pre-shipment inspection (PSI) services.Verification of conformity (VOC) hasbecome a real alternative to PSI andis likely to be a future growth driver,especially in equipment and electricalproducts. Opportunities to bid on VOCcontracts are multiplying in the MiddleEast, East Africa, Eastern Europe andAsia. Today public authorities are focusingmore on the quality of goods as tariffbarriers decrease along with taxes onimported products, making traditional PSIa less strategic service for governments.The trend is now towards verifying productconformity to technical standards ofquality and safety to protect consumersand local industries and combatcounterfeiting and dumping.of Benin decided to implement a PortSingle Window for foreign tradeat the Port of Cotonou. The ten-yearconcession contract was awarded jointlyto SOGET, which will implement theinformation technologies, and BureauVeritas, which will integrate and operatethe online platform. By accelerating tradeflows in the region, the system has thepotential to become a growth engine forBureau Veritas. Vehicle inspectionservices (VIS) also promise significantbusiness opportunities in emergingcountries, where burgeoning middleclasses are creating demand for new andused vehicles. In 2010, Bureau Veritaswas awarded a contract for VIS in Dakar,Senegal. International trade activityis intensifying due to rising demand forthird-party inspection of goods andcommodities and increased tradingvolumes. The Group’s developmentstrategy in commodities materializedin the acquisition of Inspectorate in 2010,providing additional capabilities inproduct testing.HIGHLIGHTS• Strong recovery in the volume oftrade between exporting and importingcountries.• VOC contracts ramped up in Algeriaand Saudi Arabia and started in Syriaand the Philippines.• The Group’s first Port Single Windowcontract signed with the Republicof Benin at the Port of Cotonou.• New Technical AssistanceDepartment set up to offergovernments further added-valueservices.• Expansion of the commoditieslab network through acquisitionof Inspectorate.New business opportunitiesTo further secure and facilitateinternational trade to meet clients’ needs,Bureau Veritas is developing more addedvalueservices such as “Single Window”systems and technical assistanceservices. In 2010, the government30
REVENUE (in millions of euros)ADJUSTED OPERATING MARGIN(% of revenue)12.4%158.5180.116.9%IN BRIEFIn 2010, this business benefited from the recovery of globaltrade, which had a favorable impact on the volume of goodsinspected. Bureau Veritas succeeded in consolidating itsleadership position in a more competitive inspection market.New needs emerged strongly in the sector of verificationof product conformity. In 2011, commodities prices are expectedto rise, with a corresponding positive effect on these activities.09 10Robust organic growth in GovernmentServices & International Trade, thanksto a rebound in the volume of goodsinspected, a surge in VOC momentumand the start of new contracts.BUREAU VERITAS 2010 ACTIVITY REPORT 31
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Page 16 and 17: Our businessesMARINE • INDUSTRY
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2010 Activity Report - Bureau Veritas

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