LONG-TERM INVESTOR. March 2017 MORE THAN 310 YEARS OF HISTORY

Transcription

1 LONG-TERM INVESTOR March 2017 MORE THAN 310 YEARS OF HISTORY

2 Wendel, a strong tradition of entrepreneurship supporting long-term investing In the world of investment, Wendel is unique. Its permanent capital and stable shareholder base give companies in which it invests. it the time and ability to carefully select and nurture the Frédéric Lemoine, Chairman of the Executive Board of Wendel PRIVATE-EQUITY PIONEER The Wendel Group was founded in the Lorraine region (Eastern region of France) in For 270 years, it developed its business in diverse activities, mainly within the steel industry, before focusing on long-term investing. For 40 years, Wendel has actively contributed to the growth and success of diversified international leaders, while upholding its values of family, long-term commitment, excellence and openness. AMBITIOUS INTERNATIONALIZATION STRATEGY Wendel is pursuing an ambitious strategy of internationalization and diversification in Europe, North America and emerging market regions, including Africa. The Group s strategy focuses on high-quality, unlisted companies with exposure to the most promising sectors and regions. Wendel has been active in Europe for generations, with offices in France (1), in Luxembourg (2), the Netherlands (3), but also in Japon (4). Wendel expanded its international presence since 2013 with the establishment of offices in New York (5), Singapore (6), Casablanca (7) and in London (8) in Eric Piermont / AFP

3 A portfolio of diversified companies Although Wendel Group companies operate in different sectors, they all base their growth on longterm economic and sociological trends, increased regulatory and risk management requirements for Bureau Veritas, urbanization and sustainable habitat for Saint-Gobain and Cromology, new consumer habits for Constantia Flexibles and Stahl, increased demand for security with Allied Universal and the rise of a middle class in Africa for IHS BUREAU VERITAS Certification and verification 41.2 % Sales in 2016: 4.5 billion 66,000 employees Over 400,000 clients 1,400 offices and laboratories, in 140 countries Amount invested: 398 million since 1995 SAINT-GOBAIN 6.5 % Production, transformation and distribution of building materials Sales in 2016: 39.1 billion No. 1 worldwide in high-performance materials and insulation No. 2 worldwide in flat glass More than 170,000 employees Present in 67 countries Amount invested: 2.3 billion since 2007 IHS 21.4 % Telecom infrastructures in Africa Sales in 2016: $906.8 million Leading provider of telecom infrastructure in Africa Approx. 1,700 employees Present in 5 countries c. 24,700 towers in portfolio Amount invested: $826 million since 2013 CONSTANTIA FLEXIBLES ALLIED UNIVERSAL CROMOLOGY Production of flexible packaging and labelling solutions Sales in 2016: 2.1 billion N 2 in Europe, N 4 worldwide Over 10,000 employees Products sold in 140 countries to more than 4,000 customers 55 manufacturing sites in 24 countries Amount invested: 565 million since % ~33 % Security services PF Sales in 2016: c. $5.1 billion (1) Leading U.S. based security service provider Over 150,000 employees Amount invested: $300 million since % Manufacture and distribution of paints Sales in 2016: million Approx. 4,000 employees No. 2 in France, No. 1 in Italy No. 4 in Europe, Present in 9 countries 10 R&D laboratories Amount invested: 399 million since 2006 Amounts of equity invested and shares of equity owned by the Wendel group as of December 31, 2016, except for Tsebo and IHS as of March 10, The materialization of co-investment conditions could have a dilutive effect on Wendel s ownership interest. See 2015 registration document page 249. (1) Reflects unaudited sales for Allied Universal and its predecessor companies as if the merger and prior acquisitions had been completed on January 1, 2016 and includes the 12-month impact of the 2015 and 2016 acquisitions pro-forma of expected synergies as well as expected total synergies related to the merger.

4 STAHL 75.3 % High-performance coatings and leather-finishing products Sales in 2016: million No. 1 worldwide in leather-finishing products More than 1,800 employees including more than 600 golden hands Present in 23 countries 38 application labs and 13 production sites Amount invested: 171 million since 2006 CSP TECHNOLOGIES 98.3 % High-performance plastics packaging Sales in 2016: $126.7 million Global leader in diabetes test strip packaging vials Approx. 400 employees Over 330 global patents 3 manufacturing plants in the United States and France Amount invested: $228 million since 2015 TSEBO Facilities services 65 % Sales in 2016: ZAR 6.3 billion (3) c. 34,000 employees across 7,000 sites Present in 23 countries Amount invested: 159 million (4) in 2017 (2) MECATHERM Industrial bakery equipment Sales in 2016: million More than 450 employees incl. c.20 in R&D Present in over 50 countries More than 700 industrial lines installed Amount invested: 117 million since 2011 SAHAM GROUP 98.6 % 28.4 % 13.3 % Insurance, Customer relationship centers, Healthcare and Real estate Sales in 2016: MAD 11,385 million (5) 9,500 employees Present in 27 countries 58 subsidiaries in the world Amount invested: 100 million since 2013 EXCEET Design of embedded systems Sales in 2016: million More than 1,000 employees Present in 5 countries 16 laboratories and 10 production sites Amount invested: 50 million since 2010 SGI AFRICA Development of shopping malls in Africa 1 shopping center in Côte d Ivoire and ongoing projects in Abidjan, Douala and Yaoundé Ambition to expand into seven other West and Central African countries over the next five to seven years Amount invested: 25 million and up to 120 million over the next few years NIPPON OIL PUMP 40 % 97.7 % Design, development and manufacture of trochoid pumps, water pumps and hydraulic motors Sales in 2016: 5.5 billion Market leader in Japan for trochoid pumps, water pumps and hydraulic motors Approx. 230 employees 2 production sites Amount invested: 3.3 billion since 2013 (2) % ownership before co investment from Tsebo's management for a stake of around 2.5%. (3) Or ~ 400m. Year-end : March 31. (4) After taking into account 3.5 million net gain on the currency hedge. (5) Unaudited.

5 WENDEL IN BRIEF Shareholders Wendel Participations and related parties (1),, reference shareholder 36.9 % Institutional investors 34.0 % Employees, executives and other 5.3 % Treasury shares 3.1 % Individual investors 20.7 % 100 More than c. More than billion employees billion 11 5 in in gross assets in market capitalization % 14 office locations p.a. total return Main investments (Paris, Amsterdam, Luxembourg, on Wendel share (with dividends in France, the Netherlands, Germany, Austria London, New York, Casablanca, reinvested) since 2002 (2) the United States, Africa and Japan Tokyo and Singapore) Sales: million Figures as as of of 03/10/2017, except sales and shareholders as of 12/31/2016. (1) (1) Pursuant to to Article L. L of of the French Commercial Code, the figures include Wendel Participations and its Chairman (2) (2) From June 13, 13, 2002 (date of of the Marine-Wendel/CGIP merger) to March 10, 2017 (Source: Factset)

6 SUCCESS STORIES Held for 24 years Became a world leader in consulting and IT services Sales increased 45-fold Held for 19 years Became a global player in in vitro diagnostics; world leader in clinical and industrial microbiology Held for 4 years Margin improved by 400 points over the period 6 acquisitions IPO in 1985 Investment multiple: 1.5x 1,290 million Margin improved by 330 points over the period IPO in 2004 Investment multiple: 4.4x 106 million Sold to a publishing industry player, Spanish group Planeta Investment multiple: 2.7x 183 million Held for 17 years Became the world leader in allergy immunotherapy Sales increased 10-fold Sold to a family-held investment company (Ares Life Sciences) Investment multiple: 35x 12 million Held for 6 years Continued support of innovation in a difficult economic environment Margin improved by 500 points over the period Sold to the industry world leader, TE Connectivity Investment multiple: 2.5x 388 million Held for 11 years Global specialist in electrical and digital building infrastructures : revenues increased by more than 55% Over 30 acquisitions Relisted on the stock exchange in 2006 Investment multiple: 3.9x 659 million