Bureau Veritas is a French company specialized in testing, inspection and certification founded in 1828. It operates in a variety of sectors, including smelling, Building & Infrastructure (27% of revenue), Agri-food & Commodities (23% of revenue), Marine & Offshore (7% of revenue), Industry (22% of revenue), Certification (7% of revenue) and Consumer Products (14% of revenue).
CAC Next 20 Component
|Industry||Testing, inspection, certification|
|Headquarters||Neuilly-sur-Seine, Paris, France|
|Worldwide (140 countries)|
|Didier Michaud-Daniel (CEO)|
|Services||Testing, inspection, certification|
Number of employees
Bureau Veritas is present in 140 countries through a network of over 1,500 offices and laboratories, and more than 78,000 employees. Bureau Veritas generated €4.8 billion in revenue in 2021. Didier Michaud-Daniel has been the CEO of Bureau Veritas since March 2012. On February 24, 2022, Bureau Veritas announced the appointment of Hinda Gharbi as COO, with plans to appoint her as the company’s next CEO.
Bureau Veritas was founded in Antwerp, Belgium in 1828. Originally called the “Bureau de renseignements pour les assurances maritimes” (Information Office for Maritime Insurance), its mission was to “establish the truth and expose without apprehension or favoritism”. Bureau Veritas provided insurers with information that enabled them to assess the reliability of ships and equipment, and to ensure the protection of people and property. A year after its founding, the company adopted the name “Bureau Veritas” on May 28, 1829. In July 1833, the headquarters moved to Paris.
Starting in 2012, and under the leadership of Didier Michaud-Daniel, Bureau Veritas expanded the scope of its business activities to respond to market changes, developed its partnerships with multinationals, stepped up the digitalization of its business processes, scaled up its global expansion and pursued a sustained external growth policy.
In 2015, Bureau Veritas launched a strategic plan to make the Group more resilient, and more resistant to macroeconomic fluctuations (e.g. oil, gas, primary commodities, marine). This strategy aims to expand the business into high-growth sectors, such as agri-food, construction and infrastructure, connected objects and automotive. The diversification of Bureau Veritas’ activities has been accompanied by a geographical restructuring. The Group has expanded on its historical presence in France and Europe, reorganizing itself into three main zones: the Americas, Europe/Africa and Asia.
Bureau Veritas is capitalizing on the benefits of new technology in the Testing, Inspection and Certification industry. In 2016, Bureau Veritas entered into a strategic partnership agreement with Dassault Systèmes, which allows Bureau Veritas to use their 3DEXPERIENCE digital platform to carry out continuous assessment of ships, offshore platforms and on-board equipment throughout the entire life cycle.
In 2017, Bureau Veritas entered into a strategic partnership with Avitas Systems a GE Venture, to launch a range of inspection services based on predictive data analytics (i.e. artificial intelligence) for all industrial sectors.
In 2018, the Group launched Origin, the very first traceability label based on blockchain technology, which provides consumers with complete, end-to-end proof of a product’s journey, from farm to fork.
By ensuring that regulations and standards are respected, contributing to the emergence of new labels, verifying the quality of information, establishing benchmarks with stakeholders and mapping risks along value chains, Bureau Veritas supports its clients in their drive for responsible progress.
In January 2015, the Group expanded in China. Bureau Veritas acquired Shandong Chengxin, a Chinese company specialized in support services for the construction of industrial infrastructure for the energy sector. In 2017, China became the Group’s largest market in terms of both revenue and employees. In April 2019, Bureau Veritas acquired Shenzhen Total-Test, a Chinese food testing company. Bureau Veritas aims to reach €1 billion in revenue in China by 2021.
In 2017, Bureau Veritas announced the acquisition of Primary Integration Solutions in the United States, thus expanding its Building & Infrastructure business into data centers. In March 2018, the Group expanded into the construction sector in the United States with the acquisition of EMG. This expansion continued even further with the acquisition of Owen in 2019, a provider of compliance services for buildings and infrastructure.
In Europe, Bureau Veritas acquired Q Certificazioni, an Italian organic food certification body, in 2019. The very same year, with the integration of Capital Energy in France, Bureau Veritas expanded its consulting and assistance services in the field of energy efficiency certification.
List of primary shareholders as of 12/21/19
|% of shares held||% of exercisable voting rights|
|FCP BV Next||0.26%||0.38%|
Bureau Veritas’ Board of Directors is made up of twelve members. In March 2017, Aldo Cardoso was appointed Chairman of the Board of Directors after serving as a Director and Chairman of the Audit & Risk committee. In January 2018, André François-Poncet was appointed Chairman of the Strategy Committee.
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