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 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.
2025 strategic plan
Bureau Veritas will unveil the components of its financial ambition up to 2025 in the fourth quarter of 2021.
The Group’s strong fundamentals remain unchanged and clearly demonstrate the soundness of the ongoing strategy. Thus, while awaiting the announcement of its next strategic plan, Bureau Veritas will continue to develop the strategy initiated in 2015, which is proving to be very successful. The major strategic directions identified as growth drivers for the coming years are already the subject of action plans in all Group entities.
Powerful megatrends are supporting the development of the TIC sector
Strategic focus on sustainability
Bureau Veritas remains committed to its non-financial performance. Ahead of the next strategic plan, it has presented its strategy for social and environmental responsibility up to 2025. This strategy, aligned with the United Nations' Sustainable Development Goals (UN SDGs), aims at “Shaping a Better World”. It is built upon three strategic axes: “Shaping a Better Workplace”, “Shaping a Better Environment” and “Shaping Better Business Practices”; and three sustainability pillars: “Social & Human capital”, “Environment” and “Governance”.