Bureau Veritas: stock down, expecting much trickier Q2

(CercleFinance.com) - The share is down about 3% this morning after the group announced its quarterly results and provided an outlook for Q2 2020.

The company announced Q1 2020 sales of 1.140 billion euros, down 3.0% y-o-y, including -1.9% at constant exchange rates.

Half, i.e. 3 out of 6, of its businesses reported organic growth: Marine & Offshore at +8.7%, Industry at +2.9% and Agri-Food & Raw Materials at +0.2%. Meanwhile, its Building & Infrastructure (B&I) business was almost flat at -0.2%.

Note that its Consumer Goods and Certification businesses posted sharp falls: respectively -18.3% and -7.9%, due to closures resulting from the Covid-19 pandemic - particularly in China.


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