Wendel's net asset value (NAV) at March 31, 2023 was €7.66 billion, or €172.5 per share, up 2.8% since the beginning of the year.

The investment group reports consolidated sales of €2181 million for the 1st quarter, up 10.4% on a reported basis, including +8.4% year-on-year in organic terms.

In particular, the Group reports strong growth for Constantia Flexibles (+21.8%), CPI (+18.0%) and Bureau Veritas (+8.9%).

By contrast, Stahl's sales were down -8.6%, impacted by a slow start-up in the specialty coatings industry in the 1st quarter, and ACAMS' first-quarter results showed a decline of 14%.

Finally, Laurent Mignon, Chairman of the Management Board, points out that the Group has 'begun to implement the strategic orientations announced in March, with the completion of a bond issue exchangeable for Bureau Veritas shares, giving us an additional 750 ME of liquidity, and the entry into exclusive negotiations with a view to acquiring the Scalian Group'.

Copyright (c) 2023 CercleFinance.com. All rights reserved.