Wendel SE

MF

Equity

ISIN FR0000121204 / Valor 506643

Euronext - Euronext Paris (2024-12-23)

EUR 91.15+1.11%

Wendel SE
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About company

Wendel SE is a prominent entity in the private equity sector, with a history spanning over four decades. The company has established itself as a pioneer by making strategic investment choices that have led to the creation of world leaders across various industries. Wendel's investment approach is characterized by a comprehensive ESG (Environmental, Social, and Governance) due diligence process for each portfolio company, which includes a transformation roadmap focusing on operational eco-efficiency and innovation in products and services, particularly with an emphasis on climate change. The company ensures that both its investment teams and the management teams of its portfolio companies are accountable for progress against these ESG roadmaps, with variable remuneration aligned with performance. Wendel operates within the European Economic Area (EEA) but specifies that its information and financial products, such as bonds, are directed only at qualified investors, adhering to the regulations set forth by the European Union, including the Prospectus Regulation and the PRIIPs Regulation, which govern the offering and selling of bonds and other financial products.

Summarized from source with an LLMView SourceSector: Business Services

Revenue Growth

Wendel SE reported a revenue increase for the fourth quarter of 2023, with Bureau Veritas, one of its key subsidiaries, achieving a revenue of €5,867.8 million. This marks a +3.8% increase compared to the same period in 2022, driven by strong organic growth of +8.5% across various business segments and geographies.

Net Income

Wendel SE's net income Group share for the full year 2023 was €142.4 million, a significant decrease from the €656.3 million reported in 2022. The previous year's results were notably impacted by a €589.9 million gain from the sale of Cromology.

Operating Profit

Bureau Veritas, a subsidiary of Wendel SE, saw its adjusted operating profit increase by +3.1% to €930.2 million in 2023. Despite a slight decrease in the adjusted operating margin by 11 basis points to 15.9%, the company demonstrated strong operational excellence and disciplined pricing strategies.

Dividend Proposal

The Board of Directors of Bureau Veritas, under Wendel SE, has proposed a dividend of €0.83 per share for 2023, reflecting a +7.8% increase from the previous year. This proposal corresponds to a payout ratio of 65% of its adjusted net profit and is subject to shareholder approval in June 2024.

Financial Position

As of December 31, 2023, Wendel SE's subsidiary Bureau Veritas reported a solid financial position with adjusted net financial debt reduced to a 0.92x EBITDA ratio. The company had €1.2 billion in available cash and cash equivalents, along with €600 million in undrawn committed credit lines, showcasing a robust financial structure.

Summarized from source with an LLMView Source

Key figures

13.7%1Y

-13.9%3Y

-24.5%5Y

Performance

18.7%1Y

24.7%3Y

29.6%5Y

Volatility