Bureau Veritas Sa · EURONEXT:BVI
Bureau Veritas Sa — Q1 2017 Earnings Presentation
24 slides from Bureau Veritas Sa's earnings presentation, Apr 27, 2017
Slide 1: Q1 2017 Revenue
2017 © Bureau Veritas Q1 2017 Revenue April 27, 2017
Slide 2: Highlights
Highlights b BUREAU. VERITAS © Bureau Veritas
Slide 3: Q1 2017 Highlights
Q1 2017 Highlights Group revenue at €1.14 bn, up 7.4% y/y Return to organic revenue growth, at +1.9% 4 out of 6 businesses posting organic growth 3 businesses growing above 4%: Certification, B&I, Consumer Products 5 Growth Initiatives up 4.6%, solid commercial wins Q1 benefited from a p
Slide 4: Financial Review
Financial Review © Bureau Veritas
Slide 5: Q1 2017 Revenue Growth
Q1 2017 Revenue Growth +7.4% (in € millions) +3.5% +2.0% 1,138.0 1,059.4 +1.9% Q1 2016 Organic* Acquisitions Currencies Q1 2017 © Bureau Veritas *Organic growth is the increase in revenue versus last year, at constant currency and scope (i.e. acquisitions excluded) Q1 2017 Revenue April 27, 2017 5
Slide 6: Q1 2017 revenue growth by business
Q1 2017 revenue growth by business % @ constant revenue currency 7% Certification 10.6% +10.8% 24% Building & Infrastructure 4.5% 3.8% +8.3% 13% Consumer Products 4.0% 2.7% +6.7% 23% Agri-Food & Commodities 0.6% 7.8% +8.4% 9% Marine & Offshore (1.4)% 1.6% +0.2% 24% Industry (1.8)% 1.5% (0.3)% © Bure
Slide 7: Business Review
Business Review © Bureau Veritas
Slide 8: Marine & Offshore
Marine & Offshore KEY FINANCIALS Q1 2017 HIGHLIGHTS 2017 MARKET / BV OUTLOOK New Construction: Equipment New Construction under pressure Q1 2017 Q1 2016 Var. certification buffering mid-single digit decline in new-build activity Decline set to accelerate (comps) Revenue (0.6)% 97.1 97.7 Most
Slide 9: Agri-Food & Commodities
Agri-Food & Commodities KEY FINANCIALS Q1 2017 HIGHLIGHTS 2017 MARKET / BV OUTLOOK Q1 2017 Q1 2016 Var. O&P (+2.2% organic): good growth in Europe Environment to improve in 2017 M&M (+2.3%): Trade positive, Upstream good Revenue 263.6 236.4 11.5% growth (excl. Coal), Australia-driven M&M rec
Slide 10: Industry
Industry KEY FINANCIALS Q1 2017 HIGHLIGHTS 2017 MARKET / BV OUTLOOK Q1 2017 Q1 2016 Var. O&G Capex decline: -9% at Group level Slightly negative growth expected Revenue 3.4% O&G Capex: NOC / Majors not Organic 277.2 268.2 (1.8)% Lower pace of decline in the Americas resuming / tail end of la
Slide 11: Building & Infrastructure
Building & Infrastructure KEY FINANCIALS Q1 2017 HIGHLIGHTS 2017 MARKET / BV OUTLOOK Q1 2017 Q1 2016 Var. Building in-service (43%): GDP-like growth Order book points to accelerating growth Revenue 268.1 245.8 9.1% Construction-related activities (57%): in Europe Organic 4.5% stronger organic
Slide 12: Certification
Certification KEY FINANCIALS Q1 2017 HIGHLIGHTS 2017 MARKET / BV OUTLOOK Strong performance across all major service Q1 2017 Q1 2016 Var. categories and regions (notably LATAM) Robust growth forecasted (at a lower Positive calendar effect pace than in Q1) Revenue 10.5% 2015-16 standard revis
Slide 13: Consumer Products
Consumer Products KEY FINANCIALS Q1 2017 HIGHLIGHTS 2017 MARKET / BV OUTLOOK Robust organic growth across all regions Q1 2017 Q1 2016 Var. and categories Robust growth expected Revenue 9.4% E&E best performer: Auto and Mobile Organic 145.0 132.6 4.0% Challenging (price) environment with test
Slide 14: Outlook
Outlook BUREAU VERITAS © Bureau Veritas
Slide 15: Confirmed 2017 Outlook
Confirmed 2017 Outlook Full-year organic revenue growth expected to be slightly positive Growth in Q2 2017 will be penalized by an adverse calendar effect and deterioration of the Marine revenue Full-year adjusted operating margin c.16% Full-year cash flow generation to improve from FY 2016
Slide 16: Q&A
Q&A © Bureau Veritas
Slide 17: Appendix
Appendix b BUREAU. VERITAS © Bureau Veritas
Slide 18: Revenue by business
Revenue by business Q1 2017 €m Organic Scope FX Marine & Offshore 97.1 (1.4)% 1.6% (0.8)% Agri-Food & Commodities 263.6 0.6% 7.8% 3.1% Industry 277.2 (1.8)% 1.5% 3.7% Building & Infrastructure 268.1 4.5% 3.8% 0.8% Certification 87.0 10.6% 0.2% (0.3)% Consumer Products 145.0 4.0% 2.7% 2.7% Total Grou
Slide 19: Q1 2017 Overview of BV 2020 Growth Initiatives
Q1 2017 Overview of BV 2020 Growth Initiatives (in € millions) V2 5 Growth 21.2 initiatives contributing Base business +1.3pts to contributing 37.1 organic growth +0.6pts to organic growth 13.7 1138.0 6.6 1059.4 Q1 2016 Base business Growth Initiatives Acquisitions Currency Q1 2017 © Bureau Veritas
Slide 20: Q1 2017 revenue by main currencies
Q1 2017 revenue by main currencies Q1 2017 REVENUE BY CURRENCY CURRENCY CHANGE Y/Y USD (and pegged) 3.5% CNY -1.7% OTHER 13% CAD 7.4% TRY 1% -10.4% COP 1% GBP ARS 1% EURO 29% 8.8% AUD INR 2% 28.6% TWD 2% BRL KRW 2% CLP 10.6% SGD 2% 2.6% SGD JPY 2% JPY 4.9% CLP 3% KRW 7.9% CAD 3% 4.4% INR BRL 4% TWD
Slide 21: Acquisitions in 2016 & YTD
12 Acquisitions in 2016 & YTD 2016 Growth Initiative 2017 HCD UK €10m Feb. Building SPM * China €50m Feb. Chongqing Liansheng China €30m March & Infrastructure Summit USA €13m June OPEX O&G/Power/Chem. DTS Australia €35m April Agri-Food Schutter Netherland €35m March KMA Brazil €13m Dec. VEO China €
Slide 22: Ownership at March 31, 2017
Ownership at March 31, 2017 1.4% Treasury shares Wendel 40.7% 56.0% Managers and employees 1.9% Free float © Bureau Veritas Q1 2017 Revenue April 27, 2017 22
Slide 23: Glossary
Glossary FSO: Floating Storage & Offloading Organic growth is the increase in revenue versus last year, at constant currency and scope (i.e. acquisitions excluded) FSRU: Floating Storage & Regasification Unit Adjusted Operating Profit (AOP) excludes amortization of acquisition intangibles, goodwill
Slide 24: Upcoming events
Upcoming events Shareholders’ meeting - May 16, 2017 Q3 2017 trading update - October 25, 2017 Dividend payment date - May 22, 2017 Investor Days - H2 2017 H1 2017 results - July 28, 2017 Investor Relations Information Bureau Veritas Head Office – 40 Boulevard du Parc 92200 Neuilly-sur-Seine Laurent