Press Release May 28, 2013
Wendel: NAV at €124.1 announced at annual meeting of shareholders
- Net asset value (NAV) totaled €124.1 per share as of May 16, 2013
NAV quadrupled compared to May 2009
- 2013-2016 strategy key targets
Increased diversification
Ready to invest €2 billion
Return to investment grade status
Intending to pay a regularly increasing dividend
Net asset value: €124.1 per share
As of May 16, 2013, Net Asset Value came to €124.1 per share (details in appendix 1 below). The calculation methodology is described in our Registration Document. It conforms to the recommendations of the European Venture Capital Association.
The discount to NAV was 33.4%, compared with the 20 days average price of Wendel share price prior to May 16, 2013.
Since the 2009 annual meeting of shareholders, ie the start of the 2009-2013 term of the Executive Board, NAV growth represents a fourfold increase of its value (€31.0 per share).
2013-2016 development strategy
Over the past four years Wendel has strengthened its financial structure considerably. As a result, the Group can now aim for a return to investment grade status within the next four years.
After having finalized its first direct investment in Africa with its investment in IHS, a leader in telecom tower infrastructure in Africa, Wendel intends to invest, over the next four years, around €2 billion in Europe, North America and Africa, and possibly in other high-growth regions, with a clear goal of increased diversification by geographies and sectors. Wendel will continue its value return policy to shareholders.
2013 Calendar
August 29: First-half 2013 net sales and results (pre-market release) - Publication of net asset value
November 8: Publication of third-quarter 2013 net sales (pre-market release)
December 5: Investor Day - Publication of net asset value
About Wendel
Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Legrand, Saint-Gobain, Materis and Stahl. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of Van Gansewinkel Groep in the Netherlands, exceet in Germany, Mecatherm and Parcours in France and IHS in Africa.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long term: BB+, stable outlook; short term: B since April 24, 2013.
Wendel is the Founding Sponsor of Centre Pompidou-Metz In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" on March 23, 2012
Media contacts
Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24
c.angladepirzadeh@wendelgroup.com
Christèle Lion: +33 (0)1 42 85 91 27
c.lion@wendelgroup.com
Analysts and investor contacts
Laurent Marie: +33 (0)1 42 85 91 31
l.marie@wendelgroup.com
Olivier Allot: +33 (0)1 42 85 63 73
