Slide 1: 9 months 2024 Trading Update
9 months 2024 Trading Update October 25, 2024 2021 2024
Slide 2: Disclaimer
Disclaimer • This document has been prepared by Wendel S.E. (“Wendel”) solely for use at the Q3 2024 Trading Update presentation, to be held on October 25, 2024. This document must be treated confidentially by attendees at such presentation and may not be reproduced or redistributed to any other per
Slide 3: 9 months 2024 key highlights
9 months 2024 key highlights Principal Investment Asset Management Consolidated sales growth FPAuM: +19% YTD 8.9% organically €1.8Bn raised YTD c.€40bn of assets managed including Monroe Capital Fully diluted(1) NAV: €184.5 per share up 13.7% YTD(2) LTV: 18.9%(3) With the announced acquisition of Mo
Slide 4: Fully diluted Net Asset Value of €184.5 per share as of September 30, 2024
Fully diluted(1) Net Asset Value of €184.5 per share as of September 30, 2024 (in millions of euros) September 30, 2024 (2) Listed equity investments Number of shares Share price 3,800 • Bureau Veritas 120.3 million €29.9 3,591 • IHS 63.0 million $3.1 174 • Tarkett €8.9 35 Investments in unlisted as
Slide 5: Main value creation triggers in 9M 2024
Main value creation triggers in 9M 2024: Principal investment impacted positively by Bureau Veritas △ 9M 2024 NAV per share(1) • Bureau Veritas +34.3% Principal Investment +€24.9 • -€1.2 for non-listed assets Asset Management +€1.5 • Driven by positive market multiple Cash operating costs and -€1.2
Slide 6: 9 months consolidated sales up +14.6% overall and +8.9% organically
9 months consolidated sales up +14.6% overall and +8.9% organically Organic External Sales Δ FX impact growth growth Bureau Veritas €4,569.6m +5.6% +10.5% +0.2% -5.1% Stahl (1) €687.9m +1.6% -0.4% +3.3% -1.3% Scalian (2) €409.3m n.a n.a n.a n.a Scalian as of September 30, 2024 €401.3m -0.2% (3) -2.5
Slide 7: Wendel is financed at 2.4% average cost with no maturity until 2026
Wendel is financed at 2.4% average cost with no maturity until 2026 Maturity profile Total liquidity (before acquisition of Monroe and Globeducate): Institutional bonds €3bn in cash + €875m in committed credit facility Exchangeable bonds into Bureau Veritas’ shares in m€ 750 Gross debt: €2.4bn 18.9%
Slide 8: Acquisition of Monroe Capital: a transformational step in building Wendel's third-party AM platform
Acquisition of Monroe Capital : a transformational step in building Wendel’s third-party AM platform Monroe Capital LLC is a Wendel’s permanent capital Transformational milestone in Wendel’s transition towards a leader in the fast-growing will accelerate the the constitution of Wendel’s more cash ge
Slide 9: 9M 2024 key takeaways: transformation is on the way
9M 2024 key takeways: transformation is on the way • Value creation with fully diluted NAV up 13.7% year-to-date complemented by a strong dividend • Strong portfolio rotation (Constantia, BV partial sale, Globeducate) • Wendel Asset Management business is now a significant performance driver alongsi
Slide 10: Appendix
Appendix WENDEL
Slide 11: Fully diluted Net Asset Value up 16.1% restated from dividend
Fully diluted Net Asset Value up 16.1% restated from dividend +16.1% Dividend paid +28 -1.8 -0.1 -1.2 -1.7 +4.0 188.5 +1.5 -4.0 +1.4 184.5 IHS Unlisted Asset Op. costs Tarkett Dividend assets Management net of Share paid Bureau financings buyback In euro per share 162.3 Veritas and others NAV fully
Slide 12: Financial agenda
Financial agenda Ny) WENDEL
Slide 13: Financial agenda
Financial agenda Friday December 6, 2024 2024 Investor Day Wednesday February 26, 2025 Full-Year 2024 Results – Publication of NAV as of December 31, 2024, and Full-Year consolidated financial statements (post-market release) Thursday April 24, 2025 Q1 2025 Trading update – Publication of NAV as of
Slide 14: For more information, please visit www.wendelgroup.com
For more information, please visit www.wendelgroup.com 14