Bureau Veritas Sa · EURONEXT:BVI
Bureau Veritas Sa — Q1 2010 Earnings Presentation
19 slides from Bureau Veritas Sa's earnings presentation, May 5, 2010
Slide 1: Q1 2010 Revenue
Q1 2010 Revenue May 5, 2010 Frank Piedelièvre Chairman & Chief Executive Officer François Tardan Chief Financial Officer Copyright©2010 Bureau Veritas - All rights reserved.
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements which are based on current plans and forecasts of Bureau Veritas’ management. Such forward-looking statements are by their nature subject to a number of important risk and uncertainty factors such as those described in the Document de
Slide 3: Agenda
Agenda Key highlights Business review Outlook Q&A Copyright©2010 Bureau Veritas - All rights reserved. May 5, 2010 3
Slide 4: Key highlights
Key highlights François Tardan Chief Financial Officer Copyright©2010 Bureau Veritas - All rights reserved.
Slide 5: Bureau Veritas at a glance
Bureau Veritas at a glance Revenue €628.9m A global leader in conformity assessment and certification services Marine 12% in the areas of quality, health and safety, environment and social Industry responsibility (QHSE) 26% Over 39,000 skilled employees In-Service Inspection Seven global businesses
Slide 6: Q1 2010 revenue
Q1 2010 revenue (€m) 648.2 (2.6)% (0.3)% (1.1)% +1.0% 628.9 Total decrease of 3.0% Q1 2009 Organic Organic from Scope Currency Q1 2010 Revenue disposed Revenue activities Copyright©2010 Bureau Veritas - All rights reserved. May 5, 2010 6
Slide 7: Quarterly organic evolution
Quarterly organic evolution +10.6% +2.1% +0.0% (2.6)% (3.3)% Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Inflection point reached during Q1 2010 Copyright©2010 Bureau Veritas - All rights reserved. May 5, 2010 7
Slide 8: Business Review
Business Review Frank Piedelièvre Chairman & Chief Executive Officer Copyright©2010 Bureau Veritas - All rights reserved.
Slide 9: Marine
Marine 80.3 (5.5)% +0.5% 76.3 (5.0)% Q1 2009 Revenue Organic Currency Q1 2010 Revenue New ships (55% of Q1 revenues) Organic decrease of 12% Freight rates improvement & decrease of ships prices lead to 7% increase y-o-y in new orders intake of GRT 1.5m (156 ships) Order book down to GRT 29.8m (vs. G
Slide 10: Industry
Industry +7.5% 160.7 +2.6% (0.9)% 147.2 +9.2% Q1 2009 Revenue Organic Scope Currency Q1 2010 Revenue 4.3% increase in inspection and certification revenue in the industry and energy production segments (Oil & Gas, power) including HSE activities Large contracts wins in Oil and Gas and nuclear segmen
Slide 11: In-Service Inspection & Verification
In-Service Inspection & Verification 107.3 (2.8)% (1.3)% (1.1)% 101.7 (5.2)% Q1 2009 Revenue Organic Organic from Scope Q1 2010 Revenue disposed activities Negative organic growth due to: Withdraw from the mass market portable electrical appliance inspection activity, in the UK Delays in renewals an
Slide 12: Construction
Construction 117.5 (10.3)% (3.8)% (1.1)% 99.6 (15.2)% Q1 2009 Revenue Organic Scope Currency Q1 2010 Revenue Continuous drop in new construction projects in all geographies Market contraction partially balanced by Further privatization in the US and Japan Growing momentum in green building services
Slide 13: Certification
Certification +1.3% 73.8 +8.0% 67.5 +9.3% Q1 2009 Revenue Organic Currency Q1 2010 Revenue Organic growth Double digit growth in the BRIC countries Global international contracts 2010 outlook Same trends expected over the full year Copyright©2010 Bureau Veritas - All rights reserved. May 5, 2010 13
Slide 14: Consumer Products
Consumer Products 90.3 (11.2)% +0.2% (3.3)% 77.4 (14.3)% Q1 2009 Revenue Organic Scope Currency Q1 2010 Revenue -11.2% organic evolution due to high comps One-off CPSIA inventory testing in Q1’09 Excluding CPSIA, Q1 growth was positive mainly due to E&E activities Negative currency impact (vs. US an
Slide 15: Government Services & International Trade
Government Services & International Trade +7.5% (4.1)% 39.4 38.1 +3.4% Q1 2009 Revenue Organic Currency Q1 2010 Revenue Organic growth Progressive return to growth of FOB value inspected in all existing contracts Algerian VOC contract ramp up Indonesian VOC contract scope expansion 2010 outlook Soli
Slide 16: Outlook
Outlook Frank Piedelièvre Chairman & Chief Executive Officer Copyright©2010 Bureau Veritas - All rights reserved.
Slide 17: 2010 Outlook confirmation
2010 Outlook confirmation “Progressive return to positive organic growth in H2 2010 when cyclical businesses stop decreasing Maintain 2009 operating margin level thanks to renewed cost containment efforts and progressive deployment of new production IT tools Continuous high cash flow generation allo
Slide 18: Q&A
Q&A Copyright©2010 Bureau Veritas - All rights reserved.
Slide 19: Bureau Veritas - Move Forward with Confidence
BUREAU |BUREAU_ VERITAS Move Forward with Confidence