Wendel Investment Managers, the third-party asset management platform of Wendel, reached €41.2 billion in assets under management as of December 31, 2025. This figure will rise to €47 billion once the acquisition of Committed Advisors is finalized. Consolidated revenue increased by 6.1% to €7.567 billion. Net income from operations remained stable at €753 million, compared to €753.7 million in 2024.
Committed Advisors is a French management company specializing in the private equity secondary market.
Consolidated net income, which stands at €344.7 million, shows a decrease compared to 2024. This decline is explained by non-recurring items recorded in the previous year, notably the €692 million capital gain realized from the sale of Constantia Flexibles (a global leader in flexible packaging).
Net Asset Value (NAV) per share, fully diluted, amounted to €164.2 as of December 31, 2025, compared to €163 on September 30, 2025, representing an increase of €1.2 over the last quarter. At this date, the discount on NAV stood at -51.3% compared to the average Wendel share price over the 20 days preceding December 31, 2025.
For the full year 2025, fully diluted NAV was down 4.5% adjusted for the dividend paid in 2025 and at constant exchange rates, and down -11.6% overall.
Furthermore, Wendel is proposing an ordinary dividend payment of €5.10 per share for 2025, which will be submitted to the vote of the General Meeting in May 2026. This amount, up 8.5% compared to 2024, represents 3.1% of NAV and offers a yield of 5.8% based on the share price as of February 25, 2026.
Taking into account the interim dividend of €1.50 paid on November 20, 2025, the balance will be paid following approval at the General Meeting on May 21, 2026. The next interim dividend is expected to represent 50% of the total dividend paid for the 2025 fiscal year.
Finally, Wendel announced the launch of a share buyback program covering 9% of the capital as of February 27, representing an investment of approximately €340 million based on current prices.
Wendel is an investment company specializing in long-term share acquisitions in listed and non-listed companies with leading positions in order to accelerate their growth and development.
Wendel is a shareholder of Bureau Veritas (15% owned as at December 31, 2025; certification and quality control services), Crisis Prevention Institute (CPI; 97.7%; training services), Stahl (68.1%; manufacture of chemical products for surface coating), Tarkett (25.6%; manufacture of floor coverings and sports surfaces), IHS (18.77%; mobile telecommunications infrastructure), ACAMS (97.9%; training and certifications for anti-money laundering and financial crime prevention), Scalian (81.4%; digital transformation and business process management), Globeducate (49.3%; nursery to secondary education), IK Partners (51%; investment fund) and Monroe Capital (72.1%; investment fund).
With Wendel Growth, Wendel invests via funds or directly in innovative, high-growth companies.
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