Wendel Se · EURONEXT:MF
Wendel — Q1 2024 Earnings Presentation
11 slides from Wendel's earnings presentation, Apr 26, 2024
Slide 1: Q1 2024 Trading Update
Q1 2024 Trading Update April 26, 2024 2021 2024
Slide 2: Disclaimer
Disclaimer • This document has been prepared by Wendel S.E. (“Wendel”) solely for use at the Q1 2024 Trading Update presentation, to be held on April 26, 2024. This document must be treated confidentially by attendees at such presentation and may not be reproduced or redistributed to any other perso
Slide 3: Q1 2024 trading update key highlights
Q1 2024 trading update key highlights Solid growth of consolidated sales Q1 2024 consolidated sales of €1,848m, up 11.7% overall and 6.9% organically NAV : €178.1 per share, up +11.2% since Dec 31, 2023 (as of March 31, 2024) • Increase fully attributable to Bureau Veritas' share price appreciation
Slide 4: Q1 consolidated sales up +11.7% overall and +6.9% organically
Q1 consolidated sales up +11.7% overall and +6.9% organically Organic External Sales Δ FX impact growth growth Bureau Veritas €1,439.5m +2.5% +8.0% +0.1% -5.6% Stahl (1) €225.6m +9.8% +0.5% +10.9% -1.6% Scalian (2) €137.5m n.a n.a n.a n.a Scalian as of March 31, 2024 €140.6m +1.3% +0.2% CPI €26.7m +
Slide 5: NAV of €178.1 as of March 31, 2024
NAV of €178.1 as of March 31, 2024 (in millions of euros) March 31, 2024 Listed equity investments Number of shares Share price(1) 4,628 • Bureau Veritas 160.8 million €27.4 4,411 • IHS 63.0 million $3.0 176 • Tarkett €9.2 41 Investments in unlisted assets(2) 3,290 Other assets and liabilities of We
Slide 6: Net Asset Value up +11.2% year-to-date
Net Asset Value up +11.2% year-to-date 178.1 +17.1 +1.0 € per share -0.2 Unlisted Assets Other 160.2 Listed Assets +23.4% increase in Bureau Veritas’ 20-day average share price in Q1 NAV per share NAV per share as of as of Dec. 31, 2023 March 31, 2024 6
Slide 7: Wendel is financed at 2.4% average cost with no maturity before 2026
Wendel is financed at 2.4% average cost with no maturity before 2026 c.€2.3bn cash + €875m undrawn credit facility extended to July 2028 Weighted average Cash available cost of bond debt: 2023 2.4% Exchangeable bonds into Bond maturity Bureau Veritas’ shares 750 (25% premium) in €m Average maturity:
Slide 8: Q1 2024 key takeaways
Q1 2024 key takeways A dynamic start of the year for Wendel and at our portfolio companies Deployment of our new strategic directions detailed during our Investor Day back in December 2023 With €3.6bn(1) of total liquidity, Wendel has the firepower to invest in permanent capital and to build an Asse
Slide 9: Financial agenda
Financial agenda Ny WENDEL
Slide 10: Financial agenda
Financial agenda Thursday May 16, 2024 Annual General Meeting Wednesday July 31, 2024 H1 2024 results – Publication of NAV as of June 30, 2024, and condensed Half-Year consolidated financial statements (post-market release). Thursday October 24, 2024 Q3 2024 Trading update – Publication of NAV as of
Slide 11: For more information, please visit www.wendelgroup.com
For more information, please visit www.wendelgroup.com 11