Bureau Veritas Sa · EURONEXT:BVI
Bureau Veritas Sa — H1 2020 Earnings Presentation
71 slides from Bureau Veritas Sa's earnings presentation, Jul 28, 2020
Slide 1: H1 2020 Results
H1 2020 RESULTS JULY 28, 2020
Slide 2: Disclaimer
Disclaimer This presentation contains statements related to our future business and financial performance and future events or developments involving Bureau Veritas that may constitute forward-looking statements. These statements are based on current plans and forecasts of Bureau Veritas’ management
Slide 3: Agenda
Agenda HIGHLIGHTS RESTART YOUR BUSINESS WITH BV FINANCIAL REVIEW BUSINESS REVIEW OUTLOOK Q&A APPENDIX
Slide 4: Highlights
v (ram ‘O. 7e28 BUREAU VERITAS HIGHLIGHTS
Slide 5: Bureau Veritas key actions for facing the Covid-19 crisis
Bureau Veritas key actions for facing the Covid-19 crisis EXAMPLE OF SAFETY MEASURES Ensure health Ensure Protect the and safety business financial of all of continuity solidity of Bureau Veritas with and the Group employees for clients H1 2020 RESULTS 5
Slide 6: H1 2020 financial highlights
H1 2020 financial highlights • Total revenue decline of 11.1% with -18.5% in Q2 GROUP REVENUE €2.2bn • Organic revenue decline of 9.0% with -15.6% in Q2 • External growth of -0.5% with -0.6% in Q2 (11.1)% y/y • Negative currency impact of 1.6% with -2.3% in Q2 ADJUSTED OPERATING €216m • Adjusted ope
Slide 7: Restart Your Business with BV is a suite of solutions
Restart Your Business with BV is a suite of solutions to meet the needs of all sectors of the economy as they reopen for business Accompany clients in restarting their operations as quickly as possible with appropriate Health, Safety and Hygiene conditions Safe working End-consumers Consistent Compl
Slide 8: Addressing all business segments with a global presence
Bureau Veritas is addressing all business segments with a global presence thanks to its unparalleled network of inspectors and auditors B2B2C Provide reassurance to the end-consumer HOSPITALITY BANKS RETAIL MALLS RESTAURANTS LEISURE B2B PRIVATE Verify that protective measures are properly implemente
Slide 9: Bureau Veritas H1 key takeaways
Bureau Veritas H1 key takeaways Portfolio diversification ensures overall resilience Cost containment measures taken to protect the margin Initiatives developed to optimize cash generation Agility, innovation and adaptability Ready for the new normal H1 2020 RESULTS 9
Slide 10: Financial Review
7828. BUREAU VERITAS FINANCIAL REVIEW
Slide 11: Bureau Veritas acting to protect margin and cash
Bureau Veritas acting to protect margin and cash COST CONTAINMENT CASH PROTECTION Proactive actions to ensure liquidity • Drawdown of the €600m syndicated credit facility • Additional liquidity credit line of €500m with a 1-year maturity and a 6-month extension option Personnel costs + Other costs •
Slide 12: Bureau Veritas posting a resilient H1 2020 revenue
Bureau Veritas posting a resilient H1 2020 revenue H1 2020 PORTFOLIO SPLIT IN PERCENTAGE OF GROUP REVENUE KEY TRENDS Marine & Offshore Marine & Offshore • Resilient business with very limited disruption +3.4 % Buildings & Infrastructure, organic growth in H1 2020 8% Agri-Food & Commodities, Industry
Slide 13: H1 2020 total revenue decline of 11.1%
H1 2020 total revenue decline of 11.1% REVENUE EVOLUTION VARIATION ANALYSIS (9.5)% at constant currency 2,476.6 2,200.5 (9.0)% (0.5)% (1.6)% H1 2019 Organic 1 Scope Currency H1 2020 (1) Alternative performance indicators are presented, defined and reconciled with IFRS in appendix of this presentatio
Slide 14: H1 2020 key financial metrics
H1 2020 key financial metrics FINANCIAL HIGHLIGHTS Change Change IN EUR MILLIONS H1 2020 H1 2019 y/y at constant y/y currency Revenue 2,200.5 2,476.6 (11.1)% (9.5)% Adjusted operating profit1 215.8 380.5 (43.3)% (41.4)% Adjusted operating margin1 9.8% 15.4% (555) bps (543) bps Operating profit 59.6
Slide 15: Adjusted operating margin (1/2)
Adjusted operating margin (1/2) GROUP MARGIN EVOLUTION (543)bps at constant currency 15.4% +2bps (545)bps (12)bps 9.9% 9.8% H1 2019 Organic 1 Scope Margin at Currency H1 2020 constant (1) Alternative performance indicators are presented, defined and reconciled with IFRS in appendix of this presentat
Slide 16: Adjusted operating margin (2/2)
Adjusted operating margin (2/2) GROUP MARGIN EVOLUTION Total Organic Scope Currency H1 2020 H1 2019 change y/y (bp) y/y (bp) y/y (bp) y/y (bp) Marine & Offshore 23.1% 21.2% +185 +225 - (40) Agri-Food & Commodities 11.8% 13.9% (209) (161) (30) (18) Industry 7.4% 11.1% (368) (349) +2 (21) Buildings &
Slide 17: From adjusted operating profit to operating profit
From adjusted operating profit to operating profit ADJUSTMENT ITEMS Change IN EUR MILLIONS H1 2020 H1 2019 y/y Depreciation of intangible assets Adjusted operating profit 215.8 380.5 (43.3)% Amortization of intangible assets Asset write-offs related to labs (104.4) (38.5) +171.2% resulting from acqu
Slide 18: Net financial expense
Net financial expense FINANCIAL RESULT Change IN EUR MILLIONS H1 2020 H1 2019 y/y Slight increase in the average debt and Finance costs, net (60.3) (50.2) +20.1% increase in costs primarily due to the fees Foreign exchange gains/(losses) (3.2) (4.8) (33.3)% arising on the early Interest cost on pens
Slide 19: Tax / Tax rate
Tax / Tax rate ADJUSTED EFFECTIVE TAX RATE EVOLUTION Change IN EUR MILLIONS H1 2020 H1 2019 y/y Increase mainly due to the Profit before Tax (6.5) 274.3 (102.4)% weight of taxes that are Income tax expense (24.3) (89.3) (72.8)% not directly calculated by reference to taxable Effective Tax Rate (ETR)
Slide 20: Cash flow statement
Cash flow statement STRONG CASH IMPROVEMENT Change IN EUR MILLIONS H1 2020 H1 2019 y/y Profit before income tax (6.5) 274.3 (102.4)% Elimination of financing and investing 46.6 67.2 (30.6)% activities Strong increase in the free cash Provisions and other non-cash items 60.4 (6.5) n.m. flow driven by
Slide 21: Improving working capital requirement ratio
Improving working capital requirement ratio WORKING CAPITAL REQUIREMENT / REVENUE RATIO MOVE FOR CASH STILL BEING DEPLOYED Cash collection remains the number one priority June 30 13.0% • Optimize invoice to cash process 12.2% 12.4% • Acceleration of billing and cash collection in the first half acro
Slide 22: Leverage ratio maintained at 2.0x despite the Covid-19 shock
Leverage ratio maintained at 2.0x despite the Covid-19 shock ADJUSTED NET DEBT EVOLUTION LEVERAGE RATIO EVOLUTION IN EUR MILLIONS NET DEBT / EBITDA RATIO1 – BANK COVENANT AT 4.5X AT JUNE 30, 2020 Free Lease Dec. 31, Other June 30, 2.82 cash Acquis. Dividends payments 2019 (incl. FX) 2020 flow (IFRS
Slide 23: Bureau Veritas demonstrates its resilience while absorbing the Covid-19 shock
Bureau Veritas demonstrates its resilience while absorbing the Covid-19 shock KEY H1 2020 INDICATORS Margin protection through cost containment measures €216m adjusted operating profit €270m Strong cash position with actions taken to ensure liquidity: reduction in WCR, syndicated credit facility, wa
Slide 24: Business Review
BUSINESS REVIEW
Slide 25: Businesses most severely affected by the crisis
Bureau Veritas’ businesses most severely affected by the crisis Certification Consumer Products (21.9)% 7.7% Organic growth Adjusted operating margin (20.8)% 8.9% Organic growth Adjusted operating margin • Not considered as “critical service” in the short term • Activity strongly impacted by the Cov
Slide 26: Focus on Consumer Products business dynamics
Focus on Consumer Products business dynamics CONSUMER PRODUCTS PORTFOLIO SPLIT IN PERCENTAGE OF DIVISIONAL REVENUE BUSINESS DYNAMICS Softlines Softlines H1 organic growth: • Lockdown impact in China in Q1 & elsewhere performed below the in Q2, notably South Asia & South East Asia divisional average
Slide 27: Portfolio diversification provides resilience in the crisis (1/2)
Bureau Veritas’ portfolio diversification provides resilience in the crisis (1/2) Marine & Offshore Agri-Food & Commodities +3.4% 23.1% (7.7)% 11.8% Organic growth Adjusted operating margin Organic growth Adjusted operating margin • Low double-digit growth in New Construction • Agri-Food: low single
Slide 28: Portfolio diversification provides resilience in the crisis (2/2)
Bureau Veritas’ portfolio diversification provides resilience in the crisis (2/2) Industry Buildings & Infrastructure (6.8)% Organic growth 7.4% Adjusted operating margin (5.4)% Organic growth 6.9% Adjusted operating margin • Resilient growth for Power & Utilities – strong wins in Latam • Organic gr
Slide 29: Outlook
OUTLOOK
Slide 30: 2020 Outlook: scenarios & assumptions
2020 Outlook: scenarios & assumptions Given the uncertainty surrounding the Covid-19 pandemic still affecting many of the countries in which the Group operates, Bureau Veritas is considering different scenarios for the full year 2020: Worsening pandemic Slow & gradual recovery Muted recovery through
Slide 31: Conclusion
Conclusion Health & Safety remains absolute at Bureau Veritas Proactive cost and cash management Ready to address the new normal trends H1 2020 RESULTS 31
Slide 32: Q&A
Q&A
Slide 33: 2020-2021 Financial Calendar & Contacts
2020-2021 Financial Calendar & Contacts 2020-2021 AGENDA INVESTOR RELATIONS DEPARTMENT BUREAU VERITAS HEAD OFFICE – 40/52 BOULEVARD DU PARC 92200 NEUILLY-SUR-SEINE, FRANCE Q3 2020 revenue: October 22, 2020 (after market close) Full-Year 2020 Results: February 25, 2021 Laurent Brunelle Head of Invest
Slide 34: Appendix
Te28 BUREAU VERITAS APPENDIX
Slide 35: Restart Your Business with BV is a fully digital process
Restart Your Business with BV is a fully digital process with a two-fold approach Audit Visibility TECHNICAL SCOPE Bureau Veritas checklists were developed by a Group of Health, Safety and Hygiene Experts based on Global most recognized Best Practices and Recommendations related to Preventive • Read
Slide 36: A tailor-made approach to solve a complex problem in a simple way
A tailor-made approach to solve a complex problem in a simple way DEFINE THE LIST OF CONDUCT GRANT ONE SINGLE CONTROL POINTS THE AUDIT THE LABEL REPOSITORY The client can either Global coverage with Possibility to use All the results of Bureau Veritas use Bureau Veritas’ possibility to conduct both
Slide 37: An end-to-end digital platform
Restart YourAn end-to-end digital platform AN EXECUTIVE DASHBOARD TO MANAGE THE LEVEL A TRACEABILITY PORTAL TO GIVE VISIBILITY ON THE OF COMPLIANCE OF THE CLIENT’S NETWORK GRANTED LABELS • Real-time visibility of client’s sites: compliance monitoring • Open Web Portal to promote transparency of Labe
Slide 38: Supporting clients in their Corporate Social Responsibility commitments
Bureau Veritas continues to support its clients in their Corporate Social Responsibility commitments BUREAU VERITAS STRATEGY IS ALIGNED WITH UN’S BUREAU VERITAS IS AMONGST THE INDUSTRY LEADERS SUSTAINABLE DEVELOPMENT GOALS (SDG) ACCORDING TO NON-FINANCIAL RATING FIRMS 2 B nd most responsible rating
Slide 39: H1 2020 revenue growth by business
H1 2020 revenue growth by business % of @ constant revenue currency 28% Buildings & Infrastructure (2.2)% (5.4)% (7.6)% 24% Agri-Food & Commodities (7.7)% +0.3% (7.4)% 22% Industry (0.1)% (6.8)% (6.9)% 12% Consumer Products (20.8)% +0.1% (20.7)% 8% Marine & Offshore +3.4% +3.4% 6% Certification (21.
Slide 40: Q2 2020 revenue growth by business
Q2 2020 revenue growth by business % of @ constant revenue currency 28% Buildings & Infrastructure (2.7)% (10.5)% (13.2)% 23% Agri-Food & Commodities (15.0)% +0.1% (14.9)% 21% Industry (0.1)% (15.8)% (15.9)% 14% Consumer Products (22.8)% +0.1% (22.7)% 8% Marine & Offshore (1.5)% (1.5)% 6% Certificat
Slide 41: Marine & Offshore (8% of revenue, 20% of profit)
Marine & Offshore (8% of revenue, 20% of profit) KEY FINANCIALS H1 2020 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS H1 2020 H1 2019 Change • New Construction: low double-digit growth, led notably by North East Asia (and South Korea Low double-digit growth Revenue 185.0 180.9 +2.3% in particular) in New C
Slide 42: Agri-Food & Commodities (24% of revenue, 28% of profit)
Agri-Food & Commodities (24% of revenue, 28% of profit) KEY FINANCIALS H1 2020 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS H1 2020 H1 2019 Change • O&P: high single-digit organic decline Better performance in Trade than Upstream Revenue Organic 517.1 574.3 (10.0)% (7.7)% activities Agri-Food in Asia Acqu
Slide 43: Industry (22% of revenue, 16% of profit)
Industry (22% of revenue, 16% of profit) KEY FINANCIALS H1 2020 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS H1 2020 H1 2019 Change • Oil & Gas Opex: Opex-related activities grew low single-digit organically with strong Revenue 473.6 534.4 (11.4)% performances in Africa, being cushioned by OPEX P&U Organi
Slide 44: Buildings & Infrastructure (28% of revenue, 20% of profit)
Buildings & Infrastructure (28% of revenue, 20% of profit) KEY FINANCIALS H1 2020 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS H1 2020 H1 2019 Change Construction-related activities (41% of divisional revenue): double-digit decline Revenue 611.4 664.7 (8.0)% China Organic (5.4)% • Major organic decline in
Slide 45: Certification (6% of revenue, 5% of profit)
Certification (6% of revenue, 5% of profit) KEY FINANCIALS H1 2020 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS H1 2020 H1 2019 Change • All geographies experienced high double-digit negative organic trends with the exception of a Revenue Organic 142.0 182.6 (22.2)% (21.9)% few countries which were less a
Slide 46: Consumer Products (12% of revenue, 11% of profit)
Consumer Products (12% of revenue, 11% of profit) KEY FINANCIALS H1 2020 HIGHLIGHTS KEY FIGURES IN EUR MILLIONS H1 2020 H1 2019 Change • By geography, activity levels in Greater China improved sequentially throughout H1 (after a Revenue 271.4 339.7 (20.1)% very weak Q1); they deteriorated in most ot
Slide 47: H1 2020 revenue by business
H1 2020 revenue by business REVENUE AND YEAR-ON-YEAR REVENUE GROWTH BREAKDOWN OF REVENUE H1 2020 IN EUR MILLIONS €m Organic Scope Currency Marine & Offshore 185.0 +3.4% - (1.1)% Marine & Offshore 12% 8% Agri-Food & Commodities Agri-Food & Commodities 517.1 (7.7)% +0.3% (2.6)% 6% 24% Industry Industr
Slide 48: Q2 2020 total revenue decline of 18.5%
Q2 2020 total revenue decline of 18.5% REVENUE EVOLUTION (16.2)% at constant currency 1,301.6 1,061.0 (15.6)% (0.6)% (2.3)% Q2 2019 Organic 1 Scope Currency Q2 2020 (1) Alternative performance indicators are presented, defined and reconciled with IFRS in appendix of this presentation H1 2020 RESULTS
Slide 49: Q2 2020 revenue by business
Q2 2020 revenue by business REVENUE AND YEAR-ON-YEAR REVENUE GROWTH BREAKDOWN OF REVENUE Q2 2020 IN EUR MILLIONS €m Organic Scope Currency Marine & Offshore 90.6 (1.5)% - (1.7)% Marine & Offshore 14% 8% Agri-Food & Commodities Agri-Food & Commodities 244.4 (15.0)% +0.1% (3.5)% 6% 23% Industry Indust
Slide 50: Adjusted Operating Profit by business
Adjusted Operating Profit by business Adjusted operating profit (€m) Adjusted operating margin (%) Change Change IN EUR MILLIONS H1 2020 H1 2019 H1 2020 H1 2019 (%) (bp) Marine & Offshore 42.7 38.4 +11.2% 23.1% 21.2% +185 Agri-Food & Commodities 60.9 79.6 (23.5)% 11.8% 13.9% (209) Industry 35.1 59.3
Slide 51: Consolidated income statement
Consolidated income statement IN EUR MILLIONS H1 2020 H1 2019 Revenue 2,200.5 2,476.6 Purchase and external charges (663.3) (690.6) Personnel costs (1,182.2) (1,294.6) Taxes other than on income (22.0) (24.0) Net (additions to) / reversals of provisions (44.4) (1.3) Depreciation and amortization (21
Slide 52: Consolidated statement of financial position (1/2)
Consolidated statement of financial position (1/2) IN EUR MILLIONS JUNE 30, 2020 DEC. 31, 2019 Goodwill 2,009.1 2,075.1 Intangible assets 479.3 611.1 Property, plant and equipment 390.6 444.9 Right-of-use assets 356.4 369.0 Non-current financial assets 112.0 118.3 Deferred income tax assets 156.6 13
Slide 53: Consolidated statement of financial position (2/2)
Consolidated statement of financial position (2/2) IN EUR MILLIONS JUNE 30, 2020 DEC. 31, 2019 Share capital 54.2 54.2 Retained earnings and other reserves 1,070.2 1,209.6 Equity attributable to shareholders of the Company 1,124.4 1,263.8 Non-controlling interests 51.1 58.3 Total equity 1,175.5 1,32
Slide 54: Consolidated statement of cash flow (1/2)
Consolidated statement of cash flow (1/2) IN EUR MILLIONS H1 2020 H1 2019 Profit before income tax (6.5) 274.3 Elimination of cash flows from financing and investing activities 46.6 67.2 Provisions and other non-cash items 60.4 (6.5) Depreciation, amortization and impairment 212.4 142.2 Movements in
Slide 55: Consolidated statement of cash flow (2/2)
Consolidated statement of cash flow (2/2) IN EUR MILLIONS H1 2020 H1 2019 Capital increase 2.2 0.7 Purchases / sale of treasury shares 3.0 2.8 Dividends paid (12.7) (69.3) Increase in borrowings and other debt 782.7 204.9 Repayments of borrowings and other debt (321.2) (424.7) Repayments of amounts
Slide 56: Adjusted net financial debt
Adjusted net financial debt IN EUR MILLIONS JUNE 30, 2020 DEC. 31, 2019 JUNE 30, 2019 Bank borrowings due after one year (2,967.8) (2,918.5) (2,691.6) Bank borrowings due within one year (749.4) (356.9) (224.0) Bank overdrafts (13.8) (12.1) (10.9) Gross financial debt (3,731.0) (3,287.5) (2,926.5) T
Slide 57: Earnings per share
Earnings per share IN EUR MILLIONS H1 2020 H1 2019 FY 2019 Basic EPS (0.08) 0.39 0.83 Basic adjusted EPS 0.19 0.47 1.02 Weighted average number of shares 448,056,073 437,222,344 442,259,428 Diluted EPS (0.08) 0.39 0.83 Diluted adjusted EPS 0.19 0.47 1.01 Weighted average number of shares for diluted
Slide 58: Portfolio of business
Portfolio of business REVENUE BY BUSINESS ADJUSTED OPERATING PROFIT Marine & Offshore Marine & Offshore 12% 8% 11% 20% 6% Agri-Food & Commodities 5% Agri-Food & Commodities 24% Industry Industry H1 2020 20% H1 2020 Buildings & Infrastructure Buildings & Infrastructure 28% 28% Certification Certifica
Slide 59: Revenue evolution by geography
Revenue evolution by geography REVENUE BY GEOGRAPHIC AREA (H1 2020) REVENUE EVOLUTION BY NATURE (H1 2020) Organic growth Acquisition growth Americas Asia 24% +0.6% Pacific 30% (5.3)% (8.1)% (9.3)% (0.7)% (13.0)% Africa, Middle East (1.6)% 9% Europe 37% (10.9)% (6.0)% (8.1)% (12.4)% Americas Europe A
Slide 60: Currency mix in H1 2020
Currency mix in H1 2020 REVENUE CURRENCY EXPOSURE CURRENCY CHANGE Y/Y OTHER 11.9% USD (and pegged) +2.5% VND 0.9% XOF 0.9% CNY (1.1)% RUB 1.1% AUD (4.6)% COP 1.2% EUR 29.4% GBP (0.1)% KRW 1.4% INR 1.5% CAD +0.2% SGD 1.6% BRL (19.8)% TWD 1.6% CLP (14.8)% JPY 2.3% JPY +4.2% CLP 2.4% H1 2020 TWD +5.9%
Slide 61: H1 2020 restructuring: €21.7 million
H1 2020 restructuring: €21.7 million BY BUSINESS BY GEOGRAPHY 4% 14% Marine & Offshore 33% 26% Agri-Food & Commodities Europe Industry Africa, Middle East 51% Asia Pacific Buildings & Infrastructure Americas Certification 10% Consumer Products 53% 7% 2% H1 2020 RESULTS 61
Slide 62: Well diversified sources of financing with a balanced maturity profile
Well diversified sources of financing with a balanced maturity profile DEBT MATURITY PROFILE AS OF DEC. 31, 2019 DEBT BREAKDOWN Bond 2%1% Already refinanced USPP 17% 16% 600 China Loan Bond Synd. Facility USPP Synd. Facility Fixed rate 179 Other China Loan Floating rate 22% Other 59% 83% 45 500 500
Slide 63: Portfolio repositioning provides for an enhanced resiliency
Bureau Veritas portfolio repositioning provides for an enhanced resiliency 2019 PORTFOLIO BY NATURE OF SERVICES IN PERCENTAGE OF GROUP REVENUE Capex B&I US Opex & Systems B&I China Repeat business with long term B&I Europe = 22% visibility and high retention rates, mainly driven by regulation and Oi
Slide 64: Definition of alternative performance indicators (1/5)
Definition of alternative performance indicators and reconciliation with IFRS (1/5) INTRODUCTION ORGANIC GROWTH (1/2) The management process used by the Bureau Veritas Group is based on a The Group internally monitors and publishes “organic” revenue growth, which series of alternative performance in
Slide 65: Definition of alternative performance indicators (2/5)
Definition of alternative performance indicators and reconciliation with IFRS (2/5) ORGANIC GROWTH (2/2) SCOPE EFFECT Organic revenue growth represents the percentage of revenue growth, To establish a meaningful comparison between reporting periods, the impact presented at Group level and for each b
Slide 66: Definition of alternative performance indicators (3/5)
Definition of alternative performance indicators and reconciliation with IFRS (3/5) Adjusted operating profit and adjusted operating margin are key indicators Since a measurement period of 12 months is allowed for determining the fair used to measure the recurring performance of the business, exclud
Slide 67: Definition of alternative performance indicators (4/5)
Definition of alternative performance indicators and reconciliation with IFRS (4/5) ADJUSTED EFFECTIVE TAX RATE FREE CASH FLOW The effective tax rate (ETR) represents income tax expense divided by the Free cash flow represents net cash generated from operating activities amount of pre-tax profit. (o
Slide 68: Definition of alternative performance indicators (5/5)
Definition of alternative performance indicators and reconciliation with IFRS (5/5) FINANCIAL DEBT CONSOLIDATED EBITDA Gross debt (or gross finance costs/financial debt) represent bank loans and Consolidated EBITDA represents net profit before interest, tax, depreciation, borrowings plus bank overdr
Slide 69: Glossary
Glossary Operating Profit (AOP) excludes amortization of acquisition intangibles, goodwill IoT: Internet of Things impairment, restructuring, acquisition and disposal-related items (adjustment items) IMO: International Maritime Organization ASR: Accident Severity Rate LNG: Liquefied Natural Gas Adju
Slide 70: Ownership and market data at June 30, 2020
Ownership and market data at June 30, 2020 STABLE SHAREHOLDING STRUCTURE MARKET DATA 0.7% • Listed on Euronext-Paris • Ticker: BVI • ISIN: FR0006174348 • IPO on October 2007: EUR 9.44/share 35.6% Wendel • Share Price1: EUR 18.78 Managers & Employees • Market Cap.1: EUR 8.5bn 62.7% Free Float • Main
Slide 71: Bureau Veritas - Shaping a World of Trust
BUREAU |BUREAU | Shaping a World of Trust