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Solid performance

In 2006, Bureau Veritas achieved good results, but with significant variations across activities. Overall,
the Group reached most of its targets.
Consolidated revenues grew by 12% to 1.846 billion, adjusted operating profit* was up 10% to 268 million and
cash flow reached 203 million.

* Before amortization of business combination intangibles, goodwill impairment, gains and losses on sales of businesses, reorganization costs and parent company management fees.

Discover our 2006 Annual Report

And its French version

Annual Reports and Financial Reports Archives (2003-2005)

	Revenue was up 12% compared to the previous financial year, with organic growth of 7% and external growth of 5%, driven by acquisitions carried out in Europe, the USA, Taiwan and Australia. This was the seventh consecutive year of double-digit revenue growth for the Group.
	Bureau Veritas increased its workforce by more than 10% in 2006, compared to the previous financial year. The Group’s solid growth has resulted in a regular increase in the number of employees.
	Revenue is well balanced between the eight global businesses of the Group, enabling Bureau Veritas to withstand industry specific economic cycles.
	Bureau Veritas generates one third of its revenue in France, while at the same time reinforcing its position among the world leaders in its industry. In 2006, the strongest growth was recorded in the Asia, Pacific and Middle East zone.
	Adjusted operating profit* reached €268 million at the end of 2006, up 10% compared to the previous financial year.                  *Before amortization of business combination intangibles, goodwill impairment, gains and losses on sales of businesses, reorganization costs and parent company management fees.
	In 2006, the Group posted a slight decline in adjusted operating margin* compared with the previous financial year. This was due primarily to the impact of acquisitions over the last two financial years.                 *Before amortization of business combination intangibles, goodwill impairment, gains and losses on sales of businesses, reorganization costs and parent company management fees.
	The Group continues to generate a structurally high cash flow, putting it in a good position to seize new acquisition opportunities.
	The Group share of consolidated net income reached €154 million in 2006, compared with €150 million in 2005. This slight increase is linked to a higher level of financial charges during the year.