The story
1828: Origins
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 28 May 1829. In July 1833, the headquarters moved to Paris.
1990: Diversification and worldwide expansion
To meet the needs of its clients, Bureau Veritas developed its Certification and Government services businesses to evaluate management systems and supply chains. It also reinforced its network and opened offices in Africa, China and the United States.
2007: Initial public offering (IPO)
Bureau Veritas was listed on Euronext Paris on October 24, 2007. This initial public offering was aimed at consolidating Bureau Veritas' growth strategy by raising its profile, giving it access to new means of financing and forging loyalty among its employees.
2010: Development of the commodities business and in high-potential markets
After its acquisition of Inspectorate in 2010, Bureau Veritas became one of the world's top three players in the commodities sector and continued to expand its geographic footprint. It became the leader of its sector in Canada following the acquisition of Maxxam in 2014 and carried out in parallel a series of acquisitions in the construction and consumer products industries in China.
2020: Announcement of the 2025 strategy
The 2025 strategy will be a value-enhancing journey ensuring both short and long term growth for Bureau Veritas, capturing the maximum value from the Group's existing businesses adjacent to its core activity and leading sustainability in the TIC sector. As of June 30, 2020, Bureau Veritas had cash and cash equivalents of €2.1 billion. In 2020, Bureau Veritas announced a net profit of €125.3 million despite a nearly 10% drop in revenue to €4.6 billion. Diversification of its activities has enabled the company to remain in the black despite the crisis. In the first half of 2021, Bureau Veritas posted a net profit of €196.9 million with revenues of €2.4 billion, up 9.9 compared to 2020. The management is satisfied after having lost 34 million euros during the health crisis of 2020. These figures therefore allow the group to raise its growth forecasts for the whole of 202117. In the same year, Bureau Veritas recruited 8,000 people, including 1,000 in France.
2024: LEAP | 28 strategy
In March 2024 Bureau Veritas announced LEAP | 28 its latest strategy. Based on three pillars, Portfolio, Performance and Human Capital.
From Wikipedia’s article on Bureau Veritas, shared under CC BY-SA 4.0.5