Wendel’s first-half of the year was marked by a rising NAV (+12.2% in H1 19), cast down by challenging market conditions for its industrial unlisted assets, leading to nearly-flat consolidated sales growth and a soft outlook for the remainder of the year. On the other hand, the solid performance from its largest asset, Bureau Veritas, as well as its equity-accounted assets made for a mixed H1 19 for the group.
31 Jul 2019
Rising NAV weighed down by weak results from unlisted assets
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Rising NAV weighed down by weak results from unlisted assets
Wendel SE (MF:PAR) | 0 0 1.4% | Mkt Cap: 6,531m
- Published:
31 Jul 2019 -
Author:
Jorge Velandia -
Pages:
3
Wendel’s first-half of the year was marked by a rising NAV (+12.2% in H1 19), cast down by challenging market conditions for its industrial unlisted assets, leading to nearly-flat consolidated sales growth and a soft outlook for the remainder of the year. On the other hand, the solid performance from its largest asset, Bureau Veritas, as well as its equity-accounted assets made for a mixed H1 19 for the group.