MF Wendel SE

WENDEL: 2020 Annual General Meeting

WENDEL: 2020 Annual General Meeting

2020 Annual General Meeting

Wendel’s Annual General Meeting will be postponed to July 2, 2020. This decision will enable Bureau Veritas’ Annual Shareholders Meeting to precede that of Wendel as has been the case every year and also to potentially preserve shareholders’ ability to participate in the meeting in person.



After a very good 2019 financial performance and in light of its solid balance sheet, Wendel had announced a €2.90 per share dividend on March 17. Wendel wants to have a better understanding of the macroeconomic and health situation prior to confirming this decision.



About Wendel

Wendel is one of Europe's leading listed investment firms. The Group invests in Europe, North America and Africa in companies which are leaders in their field, such as Bureau Veritas, Cromology, Stahl, IHS, Constantia Flexibles, Allied Universal, Crisis Prevention Institute and Tsebo. Wendel plays an active role as a controlling or lead shareholder in these companies. We implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions.

Wendel is listed on Eurolist by Euronext Paris.

Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 since January 25, 2019

Moody’s ratings: Long-term: Baa2, stable outlook – Short-term: P-2 since September 5, 2018

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” in 2012.

For more information: wendelgroup.com

Follow us on Twitter @WendelGroup

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EN
14/04/2020

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Reports on Wendel SE

Eya Drira ... (+2)
  • Eya Drira
  • Geoffroy Michalet

ODDO : Love lasts 3(0) years

Wendel has held shares in Bureau Veritas since 1995, but we expect the group to make a full exit in 2026 (15% of the capital of BVI remaining). With this move, Wendel would wrap up the divestment policy rolled out over the past two years, as it looks to deleverage its balance sheet and ensure strategic consistency with its equity story. Such an outcome would wipe out the structural overhang weighing on BV, leading to stock re-rating (Outperform rating and € 35 target price maintained). However, ...

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