Report
Geoffroy Michalet

Wendel : Q1 postview: some additional information but no scoop

>Some additional points - Dividend: The management said that several parameters will influence its decision regarding a possible change to its dividend policy this year (the dividend was initially set to be € 2.9 per share, up +3.6%, i.e. a cash out of around € 130m). These parameters will notably be the financial impact of the lockdown, the situation of the equity stakes in April, political pressure, the stress-tests carried out in-house…the company says that it want...
Underlying
Wendel SE

Wendel is an investment company specializing in acquiring long-term holdings in industrial and services companies. Co.'s activities can be divided into six main divisions. Through Bureau Veritas, Co. provides conformity assessment services and certification. Through Stahl, Co. is engaged in high performance coatings and leather finishing products. Through Saint-Gobain, Co. manufactures, transforms and distributes construction materials. Through Legrand, Co. specializes in electrical and digital building infrastructures. Through Deutsch, Co. provides high-performance connectors. Through Materis, Co. provides specialty chemicals for construction.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Geoffroy Michalet

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