Wendel Se · EURONEXT:MF
Wendel — Q1 2021 Earnings Presentation
12 slides from Wendel's earnings presentation, Apr 28, 2021
Slide 1: Q1 2021 Trading update
Q12021Trading update 2021 April 28, 2021 INVESTING FOR THE LONG TERM 1 Q1 2021 Trading update | April 28, 2021
Slide 2: Q1 2021 trading update key highlights
Q1 2021 trading update key highlights NAV : €167.4 per share, up 5.3% year-to-date (as of March 31, 2021) • Positively impacted by market recovery • Last twelve months NAV growth of +41.7% Q1 2021 consolidated sales: €1,913m, up 2.0% overall and 6.5% organically Strong financial structure • At Wende
Slide 3: Q1 2021 performance of Group's consolidated companies
Q1 2021 performance of Group’s consolidated companies(1) Consolidated sales of €1,913m, up +2.0% overall and up +6.5% organically Organic External Sales Δ FX impact growth growth Bureau Veritas €1,154.7 +1.3% +6.6% -0.4% -4.9% Constantia Flexibles €366.7m -4.5% -0.8% - -3.7% Stahl €210.1m +4.6% +9.6
Slide 4: NAV of €167.4 as of March 31, 2021
NAV of €167.4 as of March 31, 2021 (in millions of euros) March. 31, 2021 Listed equity investments Number of shares Share price(1) 3,809 • Bureau Veritas 160.8 million €23.7 3,809 Investments in unlisted assets(2) 4,145 Other assets and liabilities of Wendel and holding companies(3) 80 Cash and mar
Slide 5: Net Asset Value bridge year-to-date
Net Asset Value bridge year-to-date • Two thirds of the growth attributable to market multiples • One third related to the impact of the strengthening of the US dollar on assets reporting in US dollars (from 1.227 on Dec. 31, 2020 to 1.173 on March 31, 2021) +5.1 -1.5 €167.4 +4.7 €159.1 Unlisted Oth
Slide 6: Strong liquidity as of March 31, 2021
Strong liquidity as of March 31, 2020 €1.07 bn cash + €750m undrawn credit facility Oct. 2024 Weighted average cost of bond debt: 2.09% Average maturity: 4.3 years 500 500 €1.8 bn total liquidity 300 300 Moody’s credit rating: Baa2/stable Since September 5, 2018 S&P credit rating: BBB/stable Since J
Slide 7: Partnership with the Deconinck family to acquire the shares of Tarkett
Partnership with the Deconinck family to acquire the shares of Tarkett • Simplified tender offer on all Tarkett shares at price of €20 per share (i.e. a premium of 38.1% of 20 days VWAP before the announcement of the offer) to be launched by Tarkett Participation, a company controlled by the Deconin
Slide 8: Q1 2021 key takeaways
Q1 2021 key takeways Encouraging rebound of our portfolio companies, showing that the intense efforts that have been deployed to mitigate impacts of the pandemic pay off Still some uncertainties on raw materials prices or shortages, vaccine roll out and efficiencies, but our companies have already s
Slide 9: Q&A session
Q&A session 9 Q1 2021 Trading update | April 28, 2021
Slide 10: Financial agenda
Financial agenda 06.29.2021 Annual General Meeting 07.29.2021 H1 2021 results / Publication of NAV as of June 30, 2021, and condensed Half-Year consolidated financial statements (pre-market release) 10.28.2021 Q3 2021 Trading update / Presentation of NAV as of September 30, 2021 (pre-market release)
Slide 11: Disclaimer
Disclaimer • This document has been prepared by Wendel S.E. (“Wendel”) solely for use at the 2021 Q1 Trading update presentation, to be held on April 28, 2021. This document must be treated confidentially by attendees at such presentation and may not be reproduced or redistributed to any other perso
Slide 12: Q1 2020 Trading Update | April 30, 2020
12 Q1 2020 Trading Update | April 30, 2020