Wendel : Shareholders’ Meeting Presentation – 15 June 2023
June 15, 2023 at 09:10 am EDT
Share
Annual Shareholders' Meeting
J u n e 1 5 , 2 0 2 3
2023
Agenda
2022 highlights & portfolio performance
by Laurent Mignon, Group CEO
2023 and recent events
by David Darmon, Member of the Executive Board and Group Deputy CEO
ESG performance
by Christine Anglade Pirzadeh, Director of Sustainable Development and Communication, Executive Board Advisor
Governance and compensation
by Jacqueline Tammenoms Bakker, Chairwoman of the Governance and Sustainability Committee
Resolutions
by Caroline Bertin Delacour, General Counsel
Statutory auditors reports
Questions from shareholders
Vote on resolutions
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AGM | June 15, 2023
2022 highlights & portfolio performance
L a u r e n t M i g n o n , G r o u p C E O
2022 Highlights - Strong Performance of Portfolio Companies & Solid Fundamentals Support NAV
Strong performance of
portfolio companies
Consolidated sales of €8.7bn, up +15.9% overall, including +10.7% organically
High levels of margins across the board
Restated Total Contribution from subsidiaries up +15.5%(1)
€355M of Capital
Significant
deployed
financial flexibility
•
€304m invested to
•
Ample liquidity and
acquire ACAMS
5.8% LTV
•
Wendel Growth
•
Low leverage across
is ramping up: €51m
portfolio companies
committed in 2022
overall, with adequate
maturities
Dec. 31 NAV impacted
by markets levels
NAV €167.9, down 9%(2) YoY, including dividend, vs -10.6%for Stoxx Europe 600 Net Return
>10% growth in the value of unlisted assets(3) despite decreasing multiples
Adjusted in 2021 from Cromology contributions (€52,4 M) and IHS Towers (€27,7 M) which are no longer consolidated in 2022. Adjusted in 2022 from ACAMS contribution (€-1,4 M) which is consolidated since March 10, 2022.
Adjusted for the €3 dividend per share paid in 2022 NAV is down 9.2%. In reported figures NAV is down 10.8%.
At constant scope.
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AGM | June 15, 2023
Strong Consolidated Sales Growth Resulting in Strong Profit Growth
Consolidated
Adjusted Contribution
Adjusted Net income
sales (in €m)
from subsidiaries (in €m) (1)
from operations (in €m) (1)
+15.9%
+15.5%
+17.2%
Organic
+10.7%
Scope
+2.2%
FX
+4.6%
+40.5 +11.8
+4.4
790.7
IFRS 5
-1.6%
8,700.4
746.9 -52.4
-2.9
ACAMS 2022
Existing portfolio
ACAMS
Cromology
IHS
BV
Cflex
CPI
Stahl
Tarkett
Restatement of
+1,130.3
+66.2
+52.1
contribution: -1.4
-27.7
7,503.9
648.8
2021
2022
2021
2021
2022
published
Adjusted(1)
Adjusted
672.0
653.7
573.6
2021
2021(1)
2022
Pub.
Adjusted
Adjusted
Adjusted in 2021 for the contributions of Cromology (€52,4m) and IHS Towers (€27,7m) which are no longer consolidated in 2022. Adjusted in 2022 from ACAMS contribution (€-1,4m) which is consolidated since March 10, 2022.
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AGM | June 15, 2023
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Disclaimer
Wendel SE published this content on 15 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2023 13:09:10 UTC.
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 (35.6% owned as at December 31, 2023; certification and quality control services), Crisis Prevention Institute (CPI; 96.3%; training services), Stahl (67.9%; manufacture of chemical products for surface coating), Tarkett (23.4%; manufacture of floor coverings and sports surfaces), IHS (19%; mobile telecommunications infrastructure), ACAMS (98%; training and certifications for anti-money laundering and financial crime prevention) and Scalian (82%; digital transformation and business process management).
With Wendel Growth (formerly Wendel Lab), Wendel invests via funds or directly in innovative, high-growth companies.
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