{"id":8664,"date":"2019-01-30T10:58:00","date_gmt":"2019-01-30T09:58:00","guid":{"rendered":"https:\/\/www.wendelgroup.com\/edito-3\/"},"modified":"2021-06-23T16:32:12","modified_gmt":"2021-06-23T14:32:12","slug":"from-the-editor-3","status":"publish","type":"post","link":"https:\/\/www.wendelgroup.com\/en\/from-the-editor-3\/","title":{"rendered":"From the editor"},"content":{"rendered":"<div\n    data-observer=\"item\"\n    data-animation-type=\"fade\"\n    class=\"module module-text with-margin-top- no-padding- add-bottom-padding-1 is-center-\"\n>\n    <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-8\">\n                    <div class=\"text-content\">\n                        <p>Dear Shareholders,<\/p>\n<p>On November 29, 2018, we held our 17th annual Investor Day, devoted principally to the unlisted companies in our portfolio. This year, Alexander Baumgartner (CEO of Constantia Flexibles \u2013 one of the world\u2019s leaders in flexible packaging), Huub van Beijeren (CEO of Stahl \u2013 world leader in leather chemicals), Sam Darwish (CEO of IHS \u2013 African leader in telecom tower infrastructure) and Steve Jones (CEO of Allied Universal \u2013 US leader in security services) attended Investor Day and discussed the strategic challenges their companies face. They also took part in a question-andanswer session with the financial community, where they spoke about events in their business sectors and the year\u2019s challenges. You can listen to what they said on Wendel\u2019s website, under the \u00abInvestor Days\u00bb heading.<\/p>\n<p>At the same time, we published our total revenue for the first nine months of 2018, as well as our net asset value. The performance trends of our portfolio companies were mixed in the third quarter, prompting some of them to revise their expectations for the full year. Nevertheless, we were particularly pleased by Bureau Veritas\u2019 positive momentum. We remain the controlling shareholder of Bureau Veritas, following the<br \/>\nsale of 4.73% of the company\u2019s share capital last October.<\/p>\n<p>In sum, we simplified our portfolio considerably in 2018 and took advantage of a seller\u2019s market to exit our investments in CSP Technologies, Mecatherm, Saham Group and Nippon Oil Pump, at attractive valuations. Together with the sale of 4.73% of Bureau Veritas, these divestments generated more than \u20ac1 billion in net proceeds, providing Wendel further means to grow its portfolio at opportune moments and to<br \/>\nseek new high-quality assets.<\/p>\n<p>We are maintaining our efforts to simplify the portfolio, provided the terms are attractive, and to seek out a few investments of significant size in Europe, North America and Africa. We are confident that the quality of Wendel\u2019s portfolio and our sound financial structure will enable us to create value for all shareholders. Bernard Gautier and I wish you an excellent 2019!<\/p>\n<p style=\"text-align: right;\"><strong>Andr\u00e9 Fran\u00e7ois-Poncet, Chairman of the Executive Board<\/strong><\/p>\n\n                    <\/div>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[73],"tags":[50],"class_list":["post-8664","post","type-post","status-publish","format-standard","hentry","category-letter-to-shareholders","tag-edito-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.wendelgroup.com\/en\/wp-json\/wp\/v2\/posts\/8664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wendelgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wendelgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wendelgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wendelgroup.com\/en\/wp-json\/wp\/v2\/comments?post=8664"}],"version-history":[{"count":0,"href":"https:\/\/www.wendelgroup.com\/en\/wp-json\/wp\/v2\/posts\/8664\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.wendelgroup.com\/en\/wp-json\/wp\/v2\/media?parent=8664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wendelgroup.com\/en\/wp-json\/wp\/v2\/categories?post=8664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wendelgroup.com\/en\/wp-json\/wp\/v2\/tags?post=8664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}