Wendel: Q1 sales up 14.9%

(CercleFinance.com) - Wendel has published Q1 2022 results, including consolidated sales of 2,007.
2 million euros, up 14.9% as reported and up 9.9% on an organic basis.

Impacted by the market downturn, net asset value at 31 March 2022 was 7,420 million euros, or 165.8 euros per share, down 1% compared to 31 March 2021 (167.4 euros per share) and down 11.9% since the beginning of the year (188.1 euros).

The group said that its net asset value resisted well, despite stockmarket turbulence, adding that it is pleased to have pursued its aim of redeploying capital with the acquisition of ACAMS (304 million euros invested).

It is also pleased with the group's robust financial structure and the improvement in its debt profile (the average maturity of Wendel's debt has been extended to 7.1 years and its weighted average cost has been reduced to 1.7%), which should enable the company to take advantage of acquisition opportunities.

An ordinary dividend of 3.0 euros per share FY 2021, up 3.4%, will be proposed to the General Meeting on 16 June 2022, representing a yield of 2.85%.


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