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Our strategy: strengthening our growth profile

By broadening the scope of our services, expanding our international network and staying ahead of global trends, we better serve our clients—and promote a more sustainable future.

Our testing, inspection and certification industry (TIC) is continually evolving. In addition to regulatory compliance, today TIC emphasizes innovating with an eye toward paradigm shifts that affect global markets.
By capitalizing on our international reach and recognized expertise, we are uniquely positioned to help clients stay ahead of future trends.

strategy challenges

 

Our strategy to expand up to 2020 and beyond aims to make a positive impact on society by addressing megatrends shaping the world:

  • Growing population and a burgeoning middle class in emerging economies means more pressure on natural resources and the need to guarantee the quality of products from raw materials through to manufacturing to respond to consumers’ requirements.
  • Galloping urbanization and the rise of megacities requires safer, cleaner and climate resilient building and infrastructure, and increased mobility of people and goods in and between cities.
  • Energy transition and rising global energy demand: climate change, rapid urbanization and population growth have a direct impact on the energy sector, boosting demand and increasing the need for efficiency and diversification.
  • More complex technologies and massive digitalization: while we are starting to see the powerful impact of the Internet of Things (IoT) and artificial intelligence, we are still very much at the beginning of the transformational journey.

Our 5-pillar strategy

Our strategy is built around 5 pillars to capitalize on our strengths and further transform the Group:

1. Expand market coverage through key growth initiatives
We will further penetrate our traditional markets through a broader range of services. We have identified several initiatives to achieve this objective, including Opex services (provided during the operational phase) in specific segments (Oil & Gas, Power & Utilities, Chemicals). We also plan to increase our exposure to sectors related to consumer spending through four initiatives: Buildings & Infrastructure, Agri-Food, Automotive and SmartWorld.

2. Become the partner of choice of large international corporations
We develop more integrated global solutions for facilitating and securing clients’ transactions and operations. These services combine inspections, audits, testing and data management as well as increased digital content and robust account management, tailored to meet the needs of international corporations.

3. Further deploy an efficient operating model to improve our agility and productivity
We are developing internal initiatives such as Excellence@BV and increasing the digital content of our services.

4. Balance our global footprint
TIC challenges differ by size, sector and location. From Fortune 500 companies in the US to burgeoning markets in China, we specialize in providing solutions for all geographies. As such, we are extending our international reach and aim at balancing our global footprint in five areas: Europe, the Middle East, Africa, the Americas and Asia Pacific.

5. Playing a leading role in market consolidation
Building on our track-record of combining organic and external growth in a fragmented global TIC market, we continue to acquire small and mid-size companies in specific markets and geographies.

Initiatives to accelerate our growth

To address the major global trends shaping society over the next few years, we are focusing on five Growth Initiatives. They will reinforce our offering in key markets and increase our presence in sectors linked to consumer needs.

Buildings & Infrastructure
Leverage our global leadership position by increasing presence in emerging markets and developing innovative and Opex services.

Opex services (Oil & Gas, Power & Utilities, Chemicals)
Build recurring business models in fragmented markets, offering strong outsourcing opportunities.

Agri-Food
Use our offering across the entire supply chain to expand our global capabilities and service portfolio.

SmartWorld
Create solutions to meet needs arising from connectivity and data security.

Automotive
Develop initiatives based on our supply chain and connectivity expertise.

In focus: China & the US

China and the United States are the world’s largest markets for TIC services—and our two priority markets. By furthering our presence in China, we are poised to assist with its rising demand for infrastructure, transportation and energy. Our geographical expansion strategy also includes continuing our growth in the United States, where our business has increased rapidly in recent years.

shangai

Inauguration of Bureau Veritas's new head office for China in Shanghai

To implement our strategy, we rely on strong transformation levers: Operational Excellence, Key Accounts management, Digital and Human Resources development.

Looking ahead, our vision for the future is clear. We are growing our leadership in the testing, inspection and certification industry to create more value for our clients, investors, consumers and communities.

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