IIOC member Bureau Veritas’ Q1 2020 report highlights the challenges faced by the COVID-19 pandemic.
Group turnover fell by 3.0% (-1.9% constant currency) to 1175m EUR. Two areas’ – Consumer Products and Certification – turnover, saw the biggest declines by 17.2% and 7.9% respectively in Q1.
Regarding the Certification results, Bureau Veritas notes, ‘In the context of Covid-19, the Group is currently working on business continuity solutions by promoting remote audits and virtual classrooms. It is preparing the crisis exit with initiatives related to restarting the business at the end of the lockdown.’
Overall, Bureau Veritas comments that, ‘the pandemic will have a very significant impact from Q2 onwards. For the year as a whole, it would be premature to have any firm view at this stage.’
Full Q1 information from Bureau Veritas is available here.