Wendel: 12.2% increase in NAV
(CercleFinance.com) - On Tuesday evening Wendel Group announced Net Asset Value (NAV) of 7.
467 billion euros, or 165.4 euros per share, up 12.2% since 31 December 2018.
H1 consolidated sales reached 4.262 billion euros, up 2.7%, including +0.9% organic growth in one year. This increase was mainly driven by Bureau Veritas, which posted total growth of +5.9% and organic growth of +4.0% in the first half.
"Some of our portfolio companies are successfully implementing ambitious growth initiatives and digital transformation strategies, and others have gone through, as we expected, a tougher environment in the first half of 2019. The strength of their business models, their robust and strengthened financial structures, as well as the responsiveness of our teams and their management, provide our portfolio with a good degree of resilience, despite a more volatile economic environment in certain sectors of the global economy, such as the automotive sector," said André François-Poncet, Wendel's CEO.
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