Wendel (WNDLF) Q2 2026 Earnings Call Transcript

SA Transcripts 161.39K Followers Follow Wendel ( WNDLF ) Q2 2026 Earnings Call July 30, 2026 9:00 AM EDT Company Participants Laurent Mignon - Group CEO & Chairman of the Executive Board Cyril Marie - Executive VP of Asset Management & Member of Executive Board David Darmon - Deputy CEO & Member of Executive Board Benoit Drillaud - Chief Financial Officer Olivier Allot Conference Call Participants David Cerdan - Kepler Cheuvreux, Research Division Alexander Casas Alexandre Gérard - CIC Market Solutions ( ESN ), Research Division Geoffroy Michalet - ODDO BHF Corporate & Markets, Research Division Filippe Goossens Presentation Laurent Mignon Group CEO & Chairman of the Executive Board Well, thank you very much. Good morning -- good afternoon to everybody, and thank you for being on this call in a day where there's a lot of other financial communication. So in a small -- in a nutshell, this is a solid performance for Wendel during the first half 2026. We have achieved strong return to shareholders with EUR 450 million, which has been returned to-date to our shareholders. And our NAV is up 2.6% compared to last quarter, restated from the dividend paid to shareholders. So we will go back on each of those items. Just the key financial highlights of the quarter is that we have assets under management of EUR 48.7 billion. This is not anymore pro forma. This is really what we have, including Committed Advisor. We have fee-paying assets under management of EUR 37.8 billion. This is -- if we recall compared to last year, this is up 30%. If we want to look to the dynamic of those fee-paying AUM at the same parameter, it is up 11%, but Cyril will come back to that. The management fees are EUR 226 million for this first half. This is up 56% again, and which will -- but there is a change in parameter, but nevertheless, it shows