Half Year 2026 Wendel SE Earnings Call Transcript

Jul 30, 2026 / 01:00 PM GMT

Release Date Price: €80.3

Transcript

Key Points

Positve

Strong return to shareholders with EUR450 million returned via dividends and share buybacks.
Fee-paying assets under management (AUM) increased 30% year-over-year to $37.8 billion.
Fee-related earnings (FRE) rose 46% to EUR87.1 million, with a pro forma FRE margin above 39%.
Solid operating performance from unlisted assets, with ACAMS EBITDA growing 8.8% and Global Educate showing strong growth.
Low loan-to-value (LTV) ratio of 7.8% and a strong financial structure with an average bond coupon of 2.8%.

Negative

Net asset value (NAV) was impacted by lower market multiples for unlisted assets, despite solid company performance.
Scallion faced challenging market conditions, with negative EBITDA growth, though a recovery plan is in place.
CPI's U.S. operations were affected by federal funding uncertainty, limiting overall growth.
Retail investor outflows persisted in Monroe Capital's evergreen vehicle, with net redemptions of $90 million in H1.
No fundraising activity at IK Partners in 2026, with the next cycle not starting until 2027.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MWDP.PA - Wendel SE
Half Year 2026 Wendel SE Earnings Call
Jul 30, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Vendel's H1 2026 Results Conference Call and Webcast. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. If you wish to ask a question, you will need to press *11 on your telephone and wait for your name to be announced.

You can also ask your questions on the webcast. Olivier Allot, Director of Financial Communication and Data Intelligence, will read them. I must advise you that this conference is being recorded today. I would now like to hand the conference over to Mr. Laurent Mignon, Vendell's Group CEO. Please go ahead, sir.

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