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À l'issue de l'Assemblée générale de Wendel, et sous réserve de l'approbation des résolutions de nomination et de renouvellement des membres du Conseil, le Conseil de surveillance de Wendel sera composé de 12 membres dont 5 femmes, 5 membres indépendants et un membre représentant les salariés, tout comme en 2016. Wendel est l'une des toutes premières sociétés d'investissement cotées en Europe. Elle investit en Europe, en Amérique du Nord et en Afrique, dans des sociétés leaders dans leur secteur : Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles et Allied Universal dans lesquelles elle joue un rôle actif d'actionnaire industriel. Elle met en oeuvre des stratégies de développement à long terme qui consistent à amplifier la croissance et la rentabilité de sociétés afin d'accroître leurs positions de leader. À travers Oranje-Nassau Développement qui regroupe des opportunités d'investissements de croissance, de diversification ou d'innovation, Wendel est également investi dans exceet en Allemagne, Mecatherm en France, Nippon Oil Pump au Japon, Saham Group, SGI Africa et Tsebo en Afrique et CSP Technologies aux États-Unis.


Information published on the occasion of the 2017 Annual Meeting of Shareholders Net asset value as of May 5, 2017: €8,146 billion, up 23.9% over 12 months to €172.9 per share First quarter consolidated net sales of €2,146.8 million, up 10.1% overall and 1.6% organically Finalization of the acquisition of 65% of the share capital of Tsebo, the pan-African leader in corporate services, on February 1, 2017 Robust investment activity of Group companies since the start of 2017 Three acquisitions finalized since the beginning of the year by Bureau Veritas to support the growth initiatives of Building & Infrastructure, Agri-Food and SmartWorld Allied Universal's acquisition of the security services division of Yale Enforcement on February 6, 2017 Constantia  Flexibles' acquisition of TR Alcucap S.r.l., the Italian leader in dairy product lids, on March 1, 2017 Stahl entered into an agreement to acquire the leather chemical business of BASF SE, announced on March 23, 2017. ·        Ordinary dividend of €2.35 per share, up 9.3%, to be proposed at today's Annual Shareholder's Meeting "Bureau Veritas and Saint-Gobain experienced a growth rebound in the first quarter of 2017. Several of our unlisted companies (Stahl and IHS in particular ) performed very well, while others saw a more modest but acceptable start to the year. In keeping with 2016, our companies also experienced sustained investment activities at the beginning of the year, with Stahl's announcement of the very attractive transaction to acquire the leather chemicals business from BASF. At the same time Wendel continued its investment activity, finalizing the acquisition of Tsebo, the pan-African leader in facilities, last February. The recent upturn in the markets, spurred by the calmer economic and political situation in Europe, allowed Wendel to achieve an all-time high Net Asset Value level, further reducing its loan-to-value ratio to 20.1%, thereby realizing steady improvement of our financial condition. All of these developments are a perfect beginning to our 2017-2020 strategic plan, announced last December. This strategic plan and the attendant value creation goals are intended to deliver a double-digit average rate of return for our shareholders, together with increasing dividend year-on-year and share buybacks, while continuing an investment strategy firmly oriented toward diversification, and preserving the strength of our company's financial structure." (2) Organic growth over 3 months, calculated on the basis of financial information reported in USD by Tsebo. Sales of companies accounted for by the equity method in Q1 2017 (1) Since August 1, 2016, the date the merger between AlliedBarton and Universal Services of America was finalized, Allied Universal has been consolidated by the equity method. In accordance with IFRS 5, AlliedBarton's activities in the first three months of 2016, until the merger with Universal Services of America, are presented in the income statement under "Net income from discontinued operations and operations held for sale". (2) Pro forma sales growth over three months was up 10.4 % (1.0 % organic growth), based on financial information reported by Allied Universal in USD. (3)In accordance with IFRS 5, the results of the IDMS division for 2016 have been included in "Net income from discontinued operations and operations held for sale" in exceet's financial statements, following the sale of this division. (4)Company accounted for by the equity method since August 2016. Bureau Veritas - Return to organic revenue growth in the first quarter of 2017, FY 2017 outlook confirmed Organic growth of 1.9% in 2017 is the result of: ·       The good performance of 4 out of 6 businesses which posted organic growth: Agri-food and Commodities (+0.6%), Building & Infrastructure (+4.5%), Consumer Products (+4.0%) and Certification (+10.6%); ·        A positive calendar effect in Q1 which will reverse in Q2. External growth was up 3.5%. Three acquisitions closed year to date supporting the Building & Infrastructure, Agri-Food and SmartWorld Growth Initiatives. Currency changes, notably the appreciation of USD and pegged currencies, as well as some emerging countries' currencies, against the Euro, had a +2.0% impact. The Marine & Offshore business posted negative organic growth (-1.4%) in the first quarter 2017, driven by: Revenue for the Agri-Food & Commodities businesses increased by 0.6% organically, with mixed performances across sub-segments: The Oil & Petrochemicals segment (39% of divisional revenue) reported 2.2% organic growth, reflecting good growth in Europe. The Metals & Minerals segment (26% of revenue) reported 2.3% organic growth, with overall Trade activities back in positive territory in the quarter, supported by European and Asian operations, and Upstream activities (excluding Coal) showing good growth, mostly driven by Australia. Agri-Food (19% of revenue) reported a 3.8% decline in the quarter, owing to a contract termination in inspection for Agri products and bad crop conditions in Latin America, as well as a seasonal slowdown for fertilizers in Europe, not compensated by better performances in the Food space. In the quarter, Bureau Veritas finalized the acquisition of Schutter[1], expanding its footprint in agri-commodities in Europe, South America and Asia. Government Services (16% of revenue) was down by 2.6% in the quarter still impacted by lower volume and value of imports intended for West African countries and further decline in the Iraqi program. Organic growth in Industry was down by 1.8% in the first quarter 2017, as Oil & Gas Capex-related activities retreated further, although at a slower pace than in previous quarters (-9% vs.-20% in the fourth quarter 2016 at Group level).  Other end-markets were generally better oriented, including the in-service inspection for industrial assets and the Automotive activities. Building & Infrastructure revenue increased by 4.5% organically with a stronger organic growth in construction-related activities (57% of revenue), and a more GDP-like growth in the buildings in-service activities (43%). The Group recorded very strong organic growth in the Americas (14% of revenue), driven in particular by regional expansion (Chile, Colombia, Argentina) for new construction projects. Growth was also strong in Asia (20% of revenue), where the Group's construction business in China grew by 10% on an organic basis, driven by growth in energy and infrastructure project management, sectors where Bureau Veritas has built strong positions. Growth in Europe (61% of revenue) was slower, driven by subdued growth in France (46% of revenue) due to a lack of housing starts and postponements of projects in the context of the presidential election. Sales were good, and numerous opportunities will arise from the Grand Paris project. Certification business revenue increased by 10.6% organically, with a strong performance across all major service categories and regions. This quarter benefited from a positive calendar effect, which will reverse in the second quarter. The Consumer products business demonstrated robust organic growth of 4.0%, with growth across all regions and categories. Electrical & Electronics (34% of revenue) was the best performing category, driven by Automotive and Mobile testing. Softlines (36%) was in line, while a strong-performing Hardlines business more than offset the decline in Toys. China's domestic market was a positive contributor to the performance, with Automotive spearheading growth. The acquisition of Siemic[2] enhances Bureau Veritas' presence in SmartWorld and Automotive, both in China and in the USA. Bureau Veritas expects the global macroeconomic environment to remain volatile in 2017, with persistent weakness in the oil & gas and shipping markets. Thanks to its diversified portfolio and the ramp-up of its Growth Initiatives, Bureau Veritas expects organic revenue growth to be slightly positive for the full year. Growth in the second quarter of 2017 will be penalized by an adverse calendar effect and deterioration of Marine revenue. Bureau Veritas confirms its outlook of an adjusted operating margin of circa 16%. Cash flow is expected to improve compared to 2016. At the Bureau Veritas annual shareholders meeting, held on May 16, 2017, shareholders approved the payment of a dividend of €0.55 per share in respect of the 2016 financial year. The ex-dividend date is May 18, with a payment date of May 22, 2017. Q1 2017 sales totaled €518.3 million, up 3.9% compared with Q1 2016 (€498.7 million published), of which 1.9% was organic growth. Fluctuations in exchange rates had a positive impact of 1.8%, mainly deriving from the appreciation of ZAR, USD and RUB, and 0.2% resulted from changes in scope, specifically acquisitions of Pemara and Oai Hung and sale of non-core activity of folding carton in Mexico. The growth in Constantia Flexibles' sales was achieved primarily through strong volume increases of film-based products across all markets. The Food division's sales totaled €294.6 million in Q1 2017, up 3.4%. The division's organic growth was 1.0%, mainly driven by growth in Europe, compensating the shortfall in other regions. In Q1 2017, sales in the Labels division rose organically by 0.9% to €152.1 million, or a total growth of 8.9%. Growth was driven principally by the acquisition of Pemara. Pharma division sales increased by 13.7% to €87.7 million in Q1 2017. Organic growth was 6.2%, driven mainly by blister lidding and high value laminates. Constantia Flexibles carried on its selective acquisition strategy, with the acquisition of Alucap, Italy's leading dairy lidding company, and San Prospero, an Italian leader for the printing operations of flexible alufoil dedicated to pharmaceutical markets. These companies are not consolidated in Q1 2017 figures. On another note, Constantia Flexibles has received various indications of interest in the Labels division, which are currently being examined, and which Constantia Flexibles believes leave open the possibility of expressions of interest from other investors. During the first quarter 2017, Cromology had sales of €175.2 million, up 3.9% compared to first quarter 2016 (organic growth up 2.1%). Acquisitions completed in 2016 (the Natec brand in France and the Jallut paint business in Switzerland) contributed to a 2.0% growth in sales. Currency fluctuations had a mildly negative impact of 0.1% on sales. Cromology's business benefited from the return of growth in France (up 3.5%; organic growth up 2.6%) with favorable developments in commercial activity seen since February, and continued double-digit growth (27.3%, with organic growth of 9.0%) in the rest of the world (excluding Argentina). In Argentina, 2016 sales (4.7% of total sales) declined by 4.1% owing to difficult economic conditions. Lastly, sales in the first quarter of 2017 in southern Europe were steady compared to first quarter 2016. Stahl - Total growth of 10.4%, boosted by a sharp rise in volumes in all divisions. Agreement to acquire the leather chemical business of BASF. Stahl's first-quarter 2017 sales totaled €175.0 million, up 10.4% from first quarter 2016. This increase was driven by organic growth of 5.2% combined with a positive scope effect of 4.1% tied to the acquisition of Eagle Performance Products in November 2016. The top line also benefited from favorable year-on-year exchange rate fluctuations (+1.1%), as the dollar and the Brazilian real appreciated against the euro. Organic growth at Stahl reflected a 6.6% increase in volumes, driven by ongoing double-digit growth within the Performance Coatings business and strong volume growth within the Leather Chemicals business. Stahl pursued its acquisition strategy, signing an agreement on March 22, 2017 to acquire the leather chemicals assets of BASF, one of the world's largest chemical products companies. The combination of the two businesses generated pro forma net sales[3] of ca. €850 million and pro forma EBITDA1 of more than €200 million (on a 2016 basis). Stahl also expects to generate synergies at the EBITDA level, to be achieved over the 24 months following the closing of the transaction. In exchange for contributing its assets to Stahl, BASF will receive 16% of the equity of Stahl and a cash consideration of ca. €150 million[4]. Stahl will welcome BASF as a shareholder alongside Wendel who will remain the controlling shareholder of the company (ca. 63%), Clariant (ca. 19%) and other minority shareholders[5]. The transaction is planned to be finalized in the fourth quarter of 2017, subject to the necessary regulatory approvals. IHS - Continued growth in sales, collocation rate and number of towers IHS' Q1 2017 sales totaled $271.7 million, up 17.4% from Q1 2016, in spite of the c.40 % Naira devaluation in June 2016. Sales increase was driven by the growth in tenancy ratio and the acquisition of HTN towers being consolidated since June 2016. At the end of March 2017, total number of towers increased to 24,772[6], up 12.2%. Point-of-Presence lease-up rate increased by 11% year-on-year. As the Central Bank of Nigeria abandoned its currency peg, the Naira depreciated in 2016 and the availability of US$ remains challenging for many Nigerian companies. As per the situation at Etisalat Nigeria related in the press, this IHS customer is paying the majority of its quarterly invoices, while the discussions among its shareholders and key lenders are still ongoing. On May 2nd, 2017, IHS' Nigerian subsidiary received the Business Day Most Innovative Telecoms Infrastructure Company of the Year Award, recognising the strong leadership, high quality operations and the rollout of innovative technology solutions of IHS in Nigeria. Allied Universal - Total growth[7] of 10.4 % in the first quarter of 2017 (Since August 1, 2016, the date the merger between AlliedBarton and Universal Services of America was finalized, Allied Universal has been consolidated by the equity method. In accordance with IFRS 5, AlliedBarton's activities in the first three months of 2016 are presented in the income statement under "Net income from discontinued operations and operations held for sale"). Allied Universal's first-quarter 2017 revenue totaled $1,279 million, up 10.4% in total[8] from Q1 2016, of which 1.0% was organic growth. This organic revenue growth reflects growth legacy Allied Universal business from new starts net of customer losses, both lower than previous year, combined with growth at existing customers. Organic growth does not account for the negative impact of one fewer day in Q1 2017 versus Q1 2016 and excludes the strong organic growth of businesses acquired since the beginning of 2016; factoring in these items, growth would have been 3.2%.1 First quarter bookings (customer wins in the period) increased by 3.6% vs. prior year. Since the start of the year, Allied Universal has continued to pursue its acquisition strategy, purchasing the Security Services Division of Yale Enforcement Services. This division employs more than 1,800 people and its annual sales total $40 million. Allied Universal also acquired select contracts from Lankford Security on April 1, 2017. The post-merger integration process is moving forward as planned, and nearly all planned actions to realize cost savings have been taken and the resulting synergies have begun to be reflected in Allied Universal's earnings. Lastly, in April, Allied Universal successfully re-priced one tranche of its First Lien Term Loan facilities. With this re-pricing, Allied Universal expects to reduce the annual interest expense on its outstanding credit facilities by ca. $11 million. Saint-Gobain's consolidated revenue for the first quarter 2017 was €9,937 million. On a like-for-like basis sales rose 7.6%, driven by a clear improvement in volumes (up 6.0%) in all Business Sectors and regions, also supported by a favorable calendar impact of around 3%. Prices continued their rise from the second half of last year, up 1.6% over the quarter in a more inflationary cost environment. All of our regions were able to report a positive price impact, including France and North America. The currency impact was slightly positive at 0.4%, mainly due to the depreciation of the euro against the Brazilian real and the US dollar, partly offset by the fall in the pound sterling. The positive 0.8% group structure impact primarily reflects acquisitions made in Asia and emerging countries (Emix, Solcrom), in new niche technologies and services (H-Old, Isonat, France PareBrise), and to further strengthening in Saint Gobain's positions in Building  Distribution. Flat Glass continued to show upbeat growth, with sales up 9.4%, aided partly by the positive calendar impact and once again led by emerging countries in the construction and automotive segments. ·        Interior Solutions advanced 6.2%, with volume growth supported by a positive calendar impact, and an increase in prices in a strong cost inflation environment. ·        Exterior Solutions sales rose 11.8%, boosted in particular by a sharp rise in Exterior Products volumes owing mainly to stockpiling by distributors before the expected price rise and to favorable weather conditions in the US. Building Distribution sales were up 7.9%, including a favorable calendar impact of around 3%. France (up 4.6%) confirmed its improvement, benefiting from a dynamic new-build market and a positive calendar impact. Renovation remained hesitant. The price effect moved back into slightly positive territory. Other Western European countries (up 8.3%) delivered further growth, also helped by a favorable calendar impact. Good market conditions continued to benefit the Nordic countries and the UK, while Germany saw more moderate growth. North America reported 8.2% sales growth led by construction. Industry was up slightly overall, despite contrasting trends between end-markets. Asia and emerging countries continued on a strong trajectory, growing 10.5%. Trading was again robust in all regions, despite Brazil remaining slightly down. In line with its February objective, Saint-Gobain is targeting a further like-for-like increase in 2017 operating income at constant structure and exchange rates. At its meeting of February 23, 2017, Saint-Gobain's Board of Directors decided to recommend to the June 8, 2017 Shareholders' Meeting a return to a full cash dividend policy, with the dividend stable at €1.26 per share (vs. €1.24 per share in 2015). Through Oranje-Nassau Développement, Wendel brings together opportunities for investment in growth, diversification and innovation. In particular, it has invested in France (Mecatherm), Germany (exceet), Japan (Nippon Oil Pump) and the United States (CSP Technologies), as well as in Africa (Tsebo, Saham group and SGI Africa). Mecatherm - Sharp decline in revenue in the first quarter of 2017 due to the mid-2016 slowdown in orders taken As announced, substantial slowdown in order intake in mid-2016 depressed Mecatherm's first quarter 2017 activity. Sales for the quarter totaled €19.4 million, down 32.0% from first quarter 2016, which was especially high following a significant level of order intake in 2015. After order intake rebounded in the second quarter of 2016, Mecatherm's commercial activity at the beginning of 2017 suffered from delayed investment decisions, in particular in Mecatherm's core market, "standard" bread, in mature countries. Order intake was €82.2 over twelve months at the end of March 2017, a 20.7% drop compared to 2016. The amount of business under consideration nevertheless remained high. In this context of slowing order intake, sales are expected to be lower over the first half as well as full-year 2017. The Wendel teams are working in close collaboration with Mecatherm's management to stimulate commercial activity, re-establish the order intake level, and prepare Mecatherm for changes in the industrial bread market, with special attention to services, digitalization and technological innovation. Nippon Oil Pump (NOP) - Healthy growth in sales of 6.4 % over the first quarter In the first quarter of 2017, NOP had sales of ¥1,391 million (€11.5 million), up 6.4 % compared to the first quarter of 2016 (¥1,308 million), and organic growth of 6.8%. The increase in sales resulted from activity in Japan, Taiwan, Europe and India, as well as the increase in sales prices. On May 5, 2017, Toshihiko Shirabe, the former Vice President for Japan, Korea and Greater China at Lloyd's Register, replaced Masato Nakao as CEO of NOP. CSP Technologies posted sales of $31.0 million in Q1 2017, representing total growth of 9.3% compared with Q1 2016, mainly as a result of the full quarter impact of Maxwell Chase, acquired in mid-March 2016. Organic growth was down 5.1%, impacted mainly by the anticipated decrease in confectionary sales (a customer partially insourced its production in Q2 2016) and lower cups sales. These reductions in organic sales were however partly offset by significant growth in the OTC business. Foreign exchange rate fluctuations had a negative impact of 0.9% quarter over quarter. Tsebo - Organic growth of 6.2 % driven by the strong growth of Facilities Management, Cleaning and Catering Tsebo is continuing its development through commercial dynamism and pursuing its strategy of selective acquisitions to enlarge its footprint in Africa. On February 1st 2017, Wendel invested €159 million[9] in Tsebo via Oranje-Nassau Développement and holds a 65%[10] stake in the company, alongside Capital Group Private Markets (35%2). Tsebo is about to finalize the implementation of its target BEE structure for its South African subsidiary, involving an investment from the WDB Investment Holdings, a BEE investor promoting the economic empowerment and social upliftment of women in South Africa. With this transaction, Tsebo's objective is to maintain the highest possible BEE rating and to continue walking the "BEE excellence" journey initiated several years ago. exceet - Improving group performance, step-by-step, with a total growth of 12.4% in Q1 In Q1 2017, exceet reported sales of €35.4 million, up 12.4% from the year-earlier period, of which +11.5% organically.The sales performance of exceet in Q1 2017 confirmed the recently encouraging trend as the group now has reached on a year-on-year basis top line organic growth for the fourth consecutive quarter. exceet's clear focus on the promising markets of smart and secure electronics allows the group to gain gradually ground from a solid base. The actual double-digit organic growth (+11.5%) in the reporting quarter is reflecting the promising order backlog figures recorded at 31 December 2016 and a slowly unwinding customer reluctance as new products offer convincing market potentials. On May 2, 2017, exceet Group SE has been informed by the potential buyer, who negotiated with its major shareholder Oranje-Nassau Participaties B.V. regarding the acquisition of approx. 27.8% of the voting share capital of the company, that he refrained from further negotiations and therefore he will not make a tender offer. Aggregate first-quarter 2017 revenues[11]for the Saham group were MAD 4.02 billion, up 7.1% from first quarter 2016. With sales and exchange rates at constant structure, the rate of aggregate revenue growth was 10.3%. Insurance activities posted total growth of 7.2% in the first quarter of the year, thanks to robust organic growth of 9.6%. All insurance entities saw increases in gross premiums during the period, with organic growth of 3.1% in Morocco (40% of gross premiums), 5.2% in the Middle East, 8.2% in sub-Saharan Africa, 15.4% in Nigeria (Continental Ré) and a very strong rebound in activity for Saham Angola Seguros. Currency fluctuations had a negative impact of 2.7% on aggregate revenues for first quarter 2017, mainly due to the devaluation of the Nigerian Naira in June 2016. As announced in December 2016, Sanlam increased its stake in Saham Finances (the Saham group's insurance arm) by 16.6% for $329 million. Following the completion of this transaction on May 10, 2017, Sanlam now holds 46.6% of the share capital of Saham Finances. Customer relationship centers activity confirmed its good performance, with organic growth of 18.6% compared to the first quarter 2016, notably due to Phone Group's strong commercial activity in Morocco, Côte d'Ivoire and Senegal, as well as the momentum of Ecco in Egypt, whose performance was nevertheless impacted by the devaluation of the Egyptian pound at the end of 2016. Saham Group is also pursuing the growth and development of its Healthcare, Education and Real Estate businesses, with priority on Morocco. In Real Estate in particular, marketing continued for two projects in Morocco, with more than 70% of target revenues secured at the end of March 2017. Net Asset Value was €8,146 million or €172.9 per share as of May 5, 2017 (see detail in appendix 1 below), vs. €139.6 on May 23, 2016, representing a rise of 23.9% over 12 months. The discount to NAV was 27.9% as of May 5, 2017. Since the start of 2017, NAV per share was up 12.4%. As a reminder, NAV was calculated at May 5, 2017 in accordance with the method for valuing listed assets based on the average closing price for the last 20 trading days (from April 5 to May 5, 2017). Significant events since the beginning of 2017 Wendel has finalized the acquisition of 65%[12] of the share capital of Tsebo. Following the September 2016 announcement that Wendel had signed an agreement to acquire Tsebo, Wendel announced on February 1, 2017 that it had obtained all necessary authorizations and completed the acquisition of 65%2 of the share capital of Tsebo Solutions Group, the pan-African leader in corporate services for a total enterprise value of ZAR 5.25 billion (ca. €362 million[13]). Wendel has invested €159 million[14] in Tsebo via Oranje-Nassau Développement and holds a 65%2 stake in the company, alongside Capital Group Private Markets (35%2). After the agreement to acquire Tsebo was signed, Wendel implemented hedging contracts that led to a net gain of €3.5 million. The transaction was also financed by bank borrowings of ZAR 1.85 billion from Standard Chartered Bank, Investec Bank and Nedbank. Tsebo also has a ZAR 150 million revolving credit and a ZAR 325 million line of credit to finance future acquisitions. Wendel and Capital Group Private Markets will continue to support Tsebo's acquisition strategy through additional investments, if necessary. In November 2016, Wendel purchased an additional 2.8 million Bureau Veritas shares that it did not intend to keep over the long term. The shares were purchased because Wendel believed their price had fallen too far, and was able to buy them at an average price of €17.05 per share. It was stated that those shares would be resold when the share price reflected the gradual increase expected from the strategic plan and growth initiatives. After a first quarter posting organic growth of 1.9% and growth of 4.6% from strategic initiatives, Wendel felt this momentum was ongoing. The 2.8 million shares were sold recently at an average price of €21.50. Wendel thus achieved a capital gain of €12.4 million. In accordance with IFRS 10, this result will be recognized in "changes in shareholders' equity" in Wendel's consolidated financial statements. Following this transaction, Wendel holds 40.6%[15] of Bureau Veritas' share capital and 56.1% of theoretical voting rights. Since announcing its annual results, Wendel has acquired 120,631 Wendel shares in the market, for a total of €14 million, and now holds 1.4 million treasury shares, or 3% of its share capital. In this way, the company was able to take advantage of the wide share price discount. 2018 Shareholders' Meeting / Publication of NAV and trading update (before Shareholders' Meeting) Wendel is one of Europe's leading listed investment firms. The Group invests in Europe, North America and Africa in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and Allied Universal. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of exceet in Germany, Mecatherm in France, Nippon Oil Pump in Japan, Saham Group, SGI Africa and Tsebo in Africa, and CSP Technologies in the United States. Wendel is listed on Eurolist by Euronext Paris. Standard & Poor's ratings: Long-term: BBB-, stable outlook - Short-term: A-3 since July 7, 2014. Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012. Follow us on Twitter @WendelGroup and @_FLemoine_ Assets and liabilities denominated in currencies other than the euro have been converted at exchange rates prevailing on the date of the NAV calculation. If co-investment conditions are realized, there could be a dilutive effect on Wendel's percentage ownership. These items have been taken into account in the calculation of NAV. See page 262 of the 2016 Registration Document. [3] Excluding the pro-forma impact of Stahl's 2016 acquisitions (Eagle Performance Products and Viswaat Leather Chemicals). [4] To be adjusted at closing depending on leverage and working capital. [6] Tower count is 22,560 excluding managed services and WIP as of March 31, 2017 [7] Reflects pro forma growth as if the merger had been completed on January 1, 2016 and adjusted for the calendar effect. [8] "Total" growth reflects reported revenue growth as if the merger had been completed on January 1, 2016 and adjusted for the calendar effect. 2 Reflects growth as if the merger had been completed on and all acquired companies had been owned as of January 1, 2016 and adjusts for the impact of one fewer day in 2017 vs. 2016. [10] Percentage ownership before co-investment by Tsebo's managers of approximately 2.5% of share capital. [11] Sum of 100% of revenues for all entities in the Saham Group, unaudited. [12]Percentage ownership before co-investment by Tsebo's managers of approximately 2.5% of share capital.


Wendel salue la renégociation d'une partie de la dette d'Allied Universal, la société leader sur le marché nord-américain des services de sécurité qui fournit à ses clients des services locaux et nationaux avec des solutions technologiques de pointe et en s'appuyant sur environ 140 000 employés qualifiés. Allied Universal a en effet annoncé aujourd'hui qu'elle a renégocié le coût d'une tranche de sa dette « First Lien Term Loan » et augmenté les engagements sur une facilité first lien à tirage différé. Dans le cadre de cette opération, le taux d'intérêt sur la tranche « First Lien Term Loan » existante de 1,41 Md$ a été réduit de 75 points de base, avec un floor de 1% sur le Libor. De plus, Allied Universal a reçu des engagements supplémentaires se montant à 100 M$ sur une facilité first lien à tirage différé, non tirée, et qui sera fongible avec ses « First Lien Term Loans », lors de son tirage. Wendel est l'une des toutes premières sociétés d'investissement cotées en Europe. Elle investit en Europe, en Amérique du Nord et en Afrique, dans des sociétés leaders dans leur secteur : Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles et Allied Universal dans lesquelles elle joue un rôle actif d'actionnaire industriel. Elle met en oeuvre des stratégies de développement à long terme qui consistent à amplifier la croissance et la rentabilité de sociétés afin d'accroître leurs positions de leader. À travers Oranje-Nassau Développement qui regroupe des opportunités d'investissements de croissance, de diversification ou d'innovation, Wendel est également investi dans exceet en Allemagne, Mecatherm en France, Nippon Oil Pump au Japon, Saham Group, SGI Africa et Tsebo en Afrique et CSP Technologies aux États-Unis.


News Article | May 5, 2017
Site: globenewswire.com

Wendel est l'une des toutes premières sociétés d'investissement cotées en Europe. Elle investit en Europe, en Amérique du Nord et en Afrique, dans des sociétés leaders dans leur secteur : Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles et Allied Universal dans lesquelles elle joue un rôle actif d'actionnaire industriel. Elle met en oeuvre des stratégies de développement à long terme qui consistent à amplifier la croissance et la rentabilité de sociétés afin d'accroître leurs positions de leader. À travers Oranje-Nassau Développement qui regroupe des opportunités d'investissements de croissance, de diversification ou d'innovation, Wendel est également investi dans exceet en Allemagne, Mecatherm en France, Nippon Oil Pump au Japon, Saham Group, SGI Africa et Tsebo en Afrique et CSP Technologies aux États-Unis.


Wiseguyreports.Com Adds “Server System & Server Motherboard -Market Demand, Growth, Opportunities and Analysis of Top Key Player Forecast To 2022” To Its Research Database This report studies Server System & Server Motherboard in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022. This report focuses on top manufacturers in global market, with production, price, revenue and market share for each manufacturer, covering HP Dell IBM Supermicro Oracle Fujitsu Cisco NEC SGI Lenovo Huawei Inspur PowerLeader Sugon ASUS Gigabyte MSI Foxconn Intel ASRock Mitac EVGA Biostar Loongson Giadatech J&W Group By types, the market can be split into CISC Server System and Server Motherboard RISC Server System and Server Motherboard VLIW Server System and Server Motherboard By Application, the market can be split into Enterprise Personal Others By Regions, this report covers (we can add the regions/countries as you want) North America China Europe Southeast Asia Japan India Global Server System & Server Motherboard Market Professional Survey Report 2017 1 Industry Overview of Server System & Server Motherboard 1.1 Definition and Specifications of Server System & Server Motherboard 1.1.1 Definition of Server System & Server Motherboard 1.1.2 Specifications of Server System & Server Motherboard 1.2 Classification of Server System & Server Motherboard 1.2.1 CISC Server System and Server Motherboard 1.2.2 RISC Server System and Server Motherboard 1.2.3 VLIW Server System and Server Motherboard 1.3 Applications of Server System & Server Motherboard 1.3.1 Enterprise 1.3.2 Personal 1.3.3 Others 1.4 Market Segment by Regions 1.4.1 North America 1.4.2 China 1.4.3 Europe 1.4.4 Southeast Asia 1.4.5 Japan 1.4.6 India 8 Major Manufacturers Analysis of Server System & Server Motherboard 8.1 HP 8.1.1 Company Profile 8.1.2 Product Picture and Specifications 8.1.2.1 Product A 8.1.2.2 Product B 8.1.3 HP 2016 Server System & Server Motherboard Sales, Ex-factory Price, Revenue, Gross Margin Analysis 8.1.4 HP 2016 Server System & Server Motherboard Business Region Distribution Analysis 8.2 Dell 8.2.1 Company Profile 8.2.2 Product Picture and Specifications 8.2.2.1 Product A 8.2.2.2 Product B 8.2.3 Dell 2016 Server System & Server Motherboard Sales, Ex-factory Price, Revenue, Gross Margin Analysis 8.2.4 Dell 2016 Server System & Server Motherboard Business Region Distribution Analysis 8.3 IBM 8.3.1 Company Profile 8.3.2 Product Picture and Specifications 8.3.2.1 Product A 8.3.2.2 Product B 8.3.3 IBM 2016 Server System & Server Motherboard Sales, Ex-factory Price, Revenue, Gross Margin Analysis 8.3.4 IBM 2016 Server System & Server Motherboard Business Region Distribution Analysis 8.4 Supermicro 8.4.1 Company Profile 8.4.2 Product Picture and Specifications 8.4.2.1 Product A 8.4.2.2 Product B 8.4.3 Supermicro 2016 Server System & Server Motherboard Sales, Ex-factory Price, Revenue, Gross Margin Analysis 8.4.4 Supermicro 2016 Server System & Server Motherboard Business Region Distribution Analysis 8.5 Oracle 8.5.1 Company Profile 8.5.2 Product Picture and Specifications 8.5.2.1 Product A 8.5.2.2 Product B 8.5.3 Oracle 2016 Server System & Server Motherboard Sales, Ex-factory Price, Revenue, Gross Margin Analysis 8.5.4 Oracle 2016 Server System & Server Motherboard Business Region Distribution Analysis 8.6 Fujitsu 8.6.1 Company Profile 8.6.2 Product Picture and Specifications 8.6.2.1 Product A 8.6.2.2 Product B 8.6.3 Fujitsu 2016 Server System & Server Motherboard Sales, Ex-factory Price, Revenue, Gross Margin Analysis 8.6.4 Fujitsu 2016 Server System & Server Motherboard Business Region Distribution Analysis 8.7 Cisco 8.7.1 Company Profile 8.7.2 Product Picture and Specifications 8.7.2.1 Product A 8.7.2.2 Product B 8.7.3 Cisco 2016 Server System & Server Motherboard Sales, Ex-factory Price, Revenue, Gross Margin Analysis 8.7.4 Cisco 2016 Server System & Server Motherboard Business Region Distribution Analysis 8.8 NEC 8.8.1 Company Profile 8.8.2 Product Picture and Specifications 8.8.2.1 Product A 8.8.2.2 Product B 8.8.3 NEC 2016 Server System & Server Motherboard Sales, Ex-factory Price, Revenue, Gross Margin Analysis 8.8.4 NEC 2016 Server System & Server Motherboard Business Region Distribution Analysis 8.9 SGI 8.9.1 Company Profile 8.9.2 Product Picture and Specifications 8.9.2.1 Product A 8.9.2.2 Product B 8.9.3 SGI 2016 Server System & Server Motherboard Sales, Ex-factory Price, Revenue, Gross Margin Analysis 8.9.4 SGI 2016 Server System & Server Motherboard Business Region Distribution Analysis 8.10 Lenovo 8.10.1 Company Profile 8.10.2 Product Picture and Specifications 8.10.2.1 Product A 8.10.2.2 Product B 8.10.3 Lenovo 2016 Server System & Server Motherboard Sales, Ex-factory Price, Revenue, Gross Margin Analysis 8.10.4 Lenovo 2016 Server System & Server Motherboard Business Region Distribution Analysis 8.11 Huawei 8.12 Inspur 8.13 PowerLeader 8.14 Sugon 8.15 ASUS 8.16 Gigabyte 8.17 MSI 8.18 Foxconn 8.19 Intel 8.20 ASRock 8.21 Mitac 8.22 EVGA 8.23 Biostar 8.24 Loongson 8.25 Giadatech 8.26 J&W Group For more information, please visit https://www.wiseguyreports.com/sample-request/1240378-global-server-system-server-motherboard-market-professional-survey-report-2017


News Article | April 18, 2017
Site: marketersmedia.com

— In this report, the global Supercomputer market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this report split global into several key Regions, with sales (Units), revenue (Million USD), market share and growth rate of Supercomputer for these regions, from 2012 to 2022 (forecast), covering United States China Europe Japan Korea Taiwan Global Supercomputer market competition by top manufacturers/players, with Supercomputer sales volume, Price (K USD/Unit), revenue (Million USD) and market share for each manufacturer/player; the top players including IBM Fujitsu Lenovo NEC Dell Bull Atos Cray HPE Silicon Graphics International (SGI) Sugon Information Industry (Dawning) On the basis of product, this report displays the sales volume (Units), revenue (Million USD), product price (K USD/Unit), market share and growth rate of each type, primarily split into Linux Unix Other On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, sales volume, market share and growth rate of Supercomputer for each application, including Commercial Industries Research Institutions Government Entities Other Global Supercomputer Sales Market Report 2017 1 Supercomputer Market Overview 1.1 Product Overview and Scope of Supercomputer 1.2 Classification of Supercomputer by Product Category 1.2.1 Global Supercomputer Market Size (Sales) Comparison by Type (2012-2022) 1.2.2 Global Supercomputer Market Size (Sales) Market Share by Type (Product Category) in 2016 1.2.3 Linux 1.2.4 Unix 1.2.5 Other 1.3 Global Supercomputer Market by Application/End Users 1.3.1 Global Supercomputer Sales (Volume) and Market Share Comparison by Application (2012-2022) 1.3.2 Commercial Industries 1.3.3 Research Institutions 1.3.4 Government Entities 1.3.5 Other 1.4 Global Supercomputer Market by Region 1.4.1 Global Supercomputer Market Size (Value) Comparison by Region (2012-2022) 1.4.2 United States Supercomputer Status and Prospect (2012-2022) 1.4.3 China Supercomputer Status and Prospect (2012-2022) 1.4.4 Europe Supercomputer Status and Prospect (2012-2022) 1.4.5 Japan Supercomputer Status and Prospect (2012-2022) 1.4.6 Korea Supercomputer Status and Prospect (2012-2022) 1.4.7 Taiwan Supercomputer Status and Prospect (2012-2022) 1.5 Global Market Size (Value and Volume) of Supercomputer (2012-2022) 1.5.1 Global Supercomputer Sales and Growth Rate (2012-2022) 1.5.2 Global Supercomputer Revenue and Growth Rate (2012-2022) 2 Global Supercomputer Competition by Players/Suppliers, Type and Application 2.1 Global Supercomputer Market Competition by Players/Suppliers 2.1.1 Global Supercomputer Sales and Market Share of Key Players/Suppliers (2012-2017) 2.1.2 Global Supercomputer Revenue and Share by Players/Suppliers (2012-2017) 2.2 Global Supercomputer (Volume and Value) by Type 2.2.1 Global Supercomputer Sales and Market Share by Type (2012-2017) 2.2.2 Global Supercomputer Revenue and Market Share by Type (2012-2017) 2.3 Global Supercomputer (Volume and Value) by Region 2.3.1 Global Supercomputer Sales and Market Share by Region (2012-2017) 2.3.2 Global Supercomputer Revenue and Market Share by Region (2012-2017) 2.4 Global Supercomputer (Volume) by Application For more information, please visit http://www.wiseguyreports.com


News Article | May 8, 2017
Site: marketersmedia.com

Wiseguyreports.Com Adds “White Box Server -Market Demand, Growth, Opportunities and Analysis of Top Key Player Forecast To 2022” To Its Research Database According to Stratistics MRC, the Global White Box Server market is estimated at $4.28 billion in 2015 and is expected to reach $15.18 billion by 2022 growing at a CAGR of 19.82% from 2015 to 2022. High level of Customization and low cost to install and increasing Number of Data Centers are the factors driving the market growth. In business type, data centers segment is anticipated to hold the largest share during forecast period. Rack Server segment in Form Factor is expected to move with highest CAGR during forecast period. Non-X86 servers is anticipated to grow at highest CAGR during forecast period. In operating systems, Linux is expected to hold largest share owing to its features like cost efficiency and greater adoption by end users. Asia Pacific is anticipated to grow at significant level due to presence of cloud providers in this region. Some of the key players in the market include Compal Electronics, Hyve Solutions, Celestica Inc., Penguin Computing Inc., Mitac Holdings Corp., Servers Direct, Hon Hai Precision Industry Company, Ltd., Silicon Graphics International Corp. (SGI), ZT Systems, Inventec Corporation, Silicon Mechanics, Wistron Corporation, Stackvelocity Group, Quanta Computer Inc. and Super Micro Computer Inc. Regions Covered: • North America o US o Canada o Mexico • Europe o Germany o France o Italy o UK o Spain o Rest of Europe • Asia Pacific o Japan o China o India o Australia o New Zealand o Rest of Asia Pacific • Rest of the World o Middle East o Brazil o Argentina o South Africa o Egypt What our report offers: - Market share assessments for the regional and country level segments - Market share analysis of the top industry players - Strategic recommendations for the new entrants - Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets - Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations) - Strategic recommendations in key business segments based on the market estimations - Competitive landscaping mapping the key common trends - Company profiling with detailed strategies, financials, and recent developments - Supply chain trends mapping the latest technological advancements For more information, please visit https://www.wiseguyreports.com/sample-request/826967-white-box-server-global-market-outlook-2016-2022


Global Server System & Server Motherboard market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Server System & Server Motherboard in these regions, from 2012 to 2022 (forecast), covering North America Europe China Japan Southeast Asia India On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into CISC Server System and Server Motherboard RISC Server System and Server Motherboard VLIW Server System and Server Motherboard On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Server System & Server Motherboard for each application, including Enterprise Personal Others At Any Query @ https://www.wiseguyreports.com/enquiry/1125348-global-server-system-server-motherboard-market-research-report-2017 Table of Contents Global Server System & Server Motherboard Market Research Report 2017 1 Server System & Server Motherboard Market Overview 1.1 Product Overview and Scope of Server System & Server Motherboard 1.2 Server System & Server Motherboard Segment by Type (Product Category) 1.2.1 Global Server System & Server Motherboard Production and CAGR (%) Comparison by Type (Product Category) (2012-2022) 1.2.2 Global Server System & Server Motherboard Production Market Share by Type (Product Category) in 2016 1.2.3 CISC Server System and Server Motherboard 1.2.4 RISC Server System and Server Motherboard 1.2.5 VLIW Server System and Server Motherboard 1.3 Global Server System & Server Motherboard Segment by Application 1.3.1 Server System & Server Motherboard Consumption (Sales) Comparison by Application (2012-2022) 1.3.2 Enterprise 1.3.3 Personal 1.3.4 Others 1.4 Global Server System & Server Motherboard Market by Region (2012-2022) 1.4.1 Global Server System & Server Motherboard Market Size (Value) and CAGR (%) Comparison by Region (2012-2022) 1.4.2 North America Status and Prospect (2012-2022) 1.4.3 Europe Status and Prospect (2012-2022) 1.4.4 China Status and Prospect (2012-2022) 1.4.5 Japan Status and Prospect (2012-2022) 1.4.6 Southeast Asia Status and Prospect (2012-2022) 1.4.7 India Status and Prospect (2012-2022) 1.5 Global Market Size (Value) of Server System & Server Motherboard (2012-2022) 1.5.1 Global Server System & Server Motherboard Revenue Status and Outlook (2012-2022) 1.5.2 Global Server System & Server Motherboard Capacity, Production Status and Outlook (2012-2022) 7 Global Server System & Server Motherboard Manufacturers Profiles/Analysis 7.1 HP 7.1.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.1.2 Server System & Server Motherboard Product Category, Application and Specification 7.1.2.1 Product A 7.1.2.2 Product B 7.1.3 HP Server System & Server Motherboard Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.1.4 Main Business/Business Overview 7.2 Dell 7.2.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.2.2 Server System & Server Motherboard Product Category, Application and Specification 7.2.2.1 Product A 7.2.2.2 Product B 7.2.3 Dell Server System & Server Motherboard Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.2.4 Main Business/Business Overview 7.3 IBM 7.3.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.3.2 Server System & Server Motherboard Product Category, Application and Specification 7.3.2.1 Product A 7.3.2.2 Product B 7.3.3 IBM Server System & Server Motherboard Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.3.4 Main Business/Business Overview 7.4 Supermicro 7.4.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.4.2 Server System & Server Motherboard Product Category, Application and Specification 7.4.2.1 Product A 7.4.2.2 Product B 7.4.3 Supermicro Server System & Server Motherboard Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.4.4 Main Business/Business Overview 7.5 Oracle 7.5.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.5.2 Server System & Server Motherboard Product Category, Application and Specification 7.5.2.1 Product A 7.5.2.2 Product B 7.5.3 Oracle Server System & Server Motherboard Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.5.4 Main Business/Business Overview 7.6 Fujitsu 7.6.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.6.2 Server System & Server Motherboard Product Category, Application and Specification 7.6.2.1 Product A 7.6.2.2 Product B 7.6.3 Fujitsu Server System & Server Motherboard Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.6.4 Main Business/Business Overview 7.7 Cisco 7.7.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.7.2 Server System & Server Motherboard Product Category, Application and Specification 7.7.2.1 Product A 7.7.2.2 Product B 7.7.3 Cisco Server System & Server Motherboard Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.7.4 Main Business/Business Overview 7.8 NEC 7.8.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.8.2 Server System & Server Motherboard Product Category, Application and Specification 7.8.2.1 Product A 7.8.2.2 Product B 7.8.3 NEC Server System & Server Motherboard Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.8.4 Main Business/Business Overview 7.9 SGI 7.9.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.9.2 Server System & Server Motherboard Product Category, Application and Specification 7.9.2.1 Product A 7.9.2.2 Product B 7.9.3 SGI Server System & Server Motherboard Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.9.4 Main Business/Business Overview 7.10 Lenovo 7.10.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.10.2 Server System & Server Motherboard Product Category, Application and Specification 7.10.2.1 Product A 7.10.2.2 Product B 7.10.3 Lenovo Server System & Server Motherboard Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.10.4 Main Business/Business Overview 7.11 Huawei 7.12 Inspur 7.13 PowerLeader 7.14 Sugon 7.15 ASUS 7.16 Gigabyte 7.17 MSI 7.18 Foxconn 7.19 Intel 7.20 ASRock 7.21 Mitac 7.22 EVGA 7.23 Biostar 7.24 Loongson 7.25 Giadatech 7.26 J&W Group For more information, please visit https://www.wiseguyreports.com/sample-request/1125348-global-server-system-server-motherboard-market-research-report-2017

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