The Wendel group has returned to a better level of activity in the first half of 2021. After posting losses in the same period last year, it returned to profit. The company's accounts have thus returned to the green during the first six months of the year. It also has a solid financial structure at the end of this half-year.
Over the first six months of the year, Wendel's total net income rose to €301 million. In the same period last year, it posted a loss of 279.3 million euros. The group share of profit was €131.1 million, compared with a shortfall of €203.7 million in H1-2020.
In H1 2021, the non-recurring result increased by €3.1 million, compared to a loss of €142.7 million a year earlier. 142.7 million a year earlier. This performance was driven by the positive impact of the change in the fair value of Wendel Lab's financial assets for an amount of
51.9 million. This impact is related to the IPO of a fund's investment. In addition, the Group's companies contributed to net income from operations , which reached 401.5 million in H1-2021, an increase of 184%. This rise was driven by the strong recovery of the company's business after the unfavourable effect of the restrictive measures related to the coronavirus epidemic.
In the first half of 2021, the Wendel group posted consolidated sales of €3.997 billion. 3.997 billion, an increase of 11.3% compared with the same period of the previous year. On an organic basis, sales rose by 14.7% year-on-year.
At the end of the first half of the year, the investment company has a healthy financial structure. As at 30 June 2021, the company's debt-to-equity ratio (LTV) stood at 9%. Its total liquidity is estimated at 1.97 billion euros. This includes available cash of €1.219 billion and an undrawn credit line of €750 million.
At the end of July this year, the group presented a net asset value that reached an all-time high. At 30 June 2021, it is estimated at 189.1 euros per share, an increase of 18.9%. It should be noted that this asset is a measure of the value of the company's asset portfolio.
Wendel is an investment company based in France. It was created through the merger of CGIP and Marine-Wendel. The group invests in several regions of the world including Europe, North America and Africa. It also invests in companies that are leaders in their sectors.
The group intervenes in these large companies as a majority or significant shareholder. It employs development strategies aimed at accelerating their growth and increasing their profitability. This will enable them to consolidate their leadership position. In addition, Wendel is one of the first investment companies to be listed on the European continent.