Wendel : Q1 NAV: € 178.1/share, +11% YTD, driven by BVI, and a little by unlisted holdings
>Q1 NAV: € 178.1m/share, good growth level - Wendel reported Q1 2024 NAV of € 178.1, up vs end-2023 (€ 160.2). In detail, the valuation of listed holdings rose by 20% (+€ 0.7bn, including +€ 0.8bn for BVI and -€ 0.1bn for IHS). The valuation of unlisted companies is up very slightly by 2% (with Stahl and CPI well oriented, unlike Acams and Scalian). The LTV remains very controlled, at -5.1% pro forma for the sale of the BVI block (€ 1.1bn) and the dividend paid b...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.
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.
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