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07.05.2024 07:30:52 - dpa-AFX: EQS-News: Promising start to the year: Mutares increases net income of the Holding in the first quarter of 2024 thanks to successful exit - expansion into the growth market India initiated (english)
Promising start to the year: Mutares increases net income of the Holding in
the first quarter of 2024 thanks to successful exit - expansion into the growth
market India initiated
EQS-News: Mutares SE & Co. KGaA / Key word(s): Quarterly / Interim Statement
Promising start to the year: Mutares increases net income of the Holding in
the first quarter of 2024 thanks to successful exit - expansion into the
growth market India initiated
07.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Promising start to the year: Mutares increases net income of the Holding in
the first quarter of 2024 thanks to a successful exit - expansion into the
growth market India initiated
Munich, May 7, 2024 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) ("Mutares"
or "Mutares Holding" and, together with its subsidiaries, "Mutares Group")
today published its figures for the first quarter of 2024. At Mutares
Holding level, an increase in net income was achieved. At Group level
("Mutares Group") revenues and Adjusted EBITDA increased significantly due
to restructuring and development progress.
Significant growth at Holding company and Group level
The revenues of Mutares Holding, which result from consulting services and
management fees from the portfolio companies, increased by 8% to EUR 29.3
million in the first quarter of the fiscal year 2024 (previous year: EUR
27.1 million). In particular, the increase is due to portfolio growth in the
fiscal year 2023 due to the high transaction activity. The net income of
Mutares Holding amounted to EUR 51.3 million for the first three months of
2024 (previous year: EUR 8.2 million) and benefited significantly from the
exit of Frigoscandia in the first quarter of 2024.
At Group level, Mutares generated revenues of EUR 1,346.1 million in the
first quarter of 2024 (previous year: EUR 1,108.0 million). The increase is
due in particular to the high level of acquisition activity in the fiscal
year 2023. Group EBITDA (earnings before interest, taxes, depreciation and
amortization) is regularly influenced by transaction-related effects such as
gains from bargain purchases of completed acquisitions and deconsolidation
effects and amounted to EUR 66.1 million in the first three months of 2024
(previous year: EUR 112.4 million). Adjusted EBITDA, adjusted in particular
for transaction-related effects, amounted to EUR 14.0 million in the first
quarter of the fiscal year 2024 (previous year: EUR 5.1 million).
The Group's cash and cash equivalents amounted to EUR 527.0 million as at
March 31, 2024 (December 31, 2023: EUR 520.2 million) and the equity ratio
was 25% (December 31, 2023: 26%).
Successful continuation of high transaction activity
The period from January to March 2024 was again characterized by a high
level of transaction activity, with two completed transactions on the exit
side and the closing of the acquisitions of PRINZ Kinematics from AL-KO and
Temakinho from Cigierre as well as the signing of an agreement for the
acquisition of Magirus from Iveco Group.
With the acquisition of PRINZ Kinematics and its subsidiaries from AL-KO as
an add-on investment, Mutares strengthens the HILO Group with a leading
global system supplier for high-quality kinematic systems for OEMs in the
automotive technology sector.
The acquisition of Temakinho from Cigierre serves as a platform investment
to strengthen the Retail & Food segment. The well-known Italian restaurant
chain offers Japanese-Brazilian cuisine in ten directly managed restaurants
in Milan, Rome, Bologna and Florence, three franchise restaurants at Italian
airports and one franchise restaurant in Lyon (France) at prime locations.
Mutares has also signed an agreement for the acquisition of Magirus from
Iveco Group. The acquisition is expected to be completed no later than
January 2025. The renowned provider of vehicles, ladders and other products
as well as related aftersales services in the field of firefighting and
disaster control is intended as a platform investment for the Engineering &
Technology segment and generates annual revenues of over EUR 300 million.
On the exit side, Mutares completed two transactions in the first three
months of the fiscal year 2024. The portfolio company VALTI, a European
manufacturer of seamless precision steel tubes, was sold to the company's
management. In addition, the sale of Frigoscandia, a full-service provider
for temperature-controlled logistics, to Dachser was completed following a
successful repositioning. The transaction makes a significant contribution
to the net income of Mutares Holding in the first quarter of 2024.
Setting the course for further growth in the first quarter - expansion in
growth market India
Mutares has taken further important decisions in the first quarter of 2024.
In the newly formed HILO Group, Mutares bundles the portfolio companies KICO
and Innomotive Systems Hainichen (ISH) together with the recently completed
add-on acquisitions of PRINZ Kinematics and High Precision Components (HPC)
as a globally active system supplier for high-quality automotive technology.
In addition, the bond was increased by a further EUR 100 million to the
maximum volume of EUR 250 million under the existing increase option. The
capital inflow from the bond tap enables Mutares to take maximum advantage
of the opportunities arising on the buy side.
Following the recent opening of an office in Shanghai (China), Mutares is
continuing its expansion into Asia with a further office in Mumbai (India).
The market entry in India is a logical step for Mutares after the portfolio
companies SFC Solutions and MoldTecs (both part of Amaneos) already have
activities in this fast-growing market. India offers enormous opportunities
for Mutares as a target market with strong economic growth expected in the
coming years. According to current forecasts, India will become the
third-largest economy in the world by the end of the decade. Favorable
conditions for foreign direct investment and, in particular, the Indian
government's agenda for planned infrastructure development and investment
are fully in line with Mutares' target industries.
Restructuring and development progress characterize development of Adjusted
EBITDA
Revenues in the Automotive & Mobility segment amounted to EUR 605.9 million
in the first quarter of 2024 (previous year: EUR 448.7 million). This
increase was primarily due to the acquisitions made in the fiscal year 2023,
above all Peugeot Motocycles and the add-on acquisitions for the FerrAl
United Group (in particular MMT-B). EBITDA in the Automotive & Mobility
segment amounted to EUR 29.7 million in the first quarter of 2024 (previous
year: EUR 65.9 million). Adjusted EBITDA was impacted by the still negative
earnings contributions from the new acquisitions but amounted to a pleasing
EUR 22.3 million in the first three months of 2024 and was therefore
significantly higher than the previous year's figure of EUR -6.9 million.
The portfolio companies in the Engineering & Technology segment generated
revenues of EUR 224.3 million in the first quarter of 2024 (previous year:
EUR 263.1 million). Segment EBITDA amounted to EUR -11.7 million (previous
year: EUR 10.2 million). Adjusted EBITDA amounted to EUR -7.7 million
(previous year: EUR 0.7 million) and was negatively impacted in particular
by the still negative earnings contributions from the new acquisitions from
the fourth quarter of fiscal year 2023 (Efacec and Byldis), which more than
offset the positive developments at other portfolio companies in the
segment.
Revenues in the Goods & Services segment amounted to EUR 286.4 million in
the first quarter of 2024 (previous year: EUR 190.4 million)1. In addition
to the inclusion of the acquisitions from the fiscal year 2023, above all
GoCollective, ReloBus and MobiLitas (together formerly: Arriva Group) and
Palmia, Terranor Group and Conexus in particular showed pleasing organic
revenue growth. The segment's EBITDA amounted to EUR 52.8 million in the
first quarter of 2024 (previous year: EUR 6.9 million) and benefited
significantly from the sale of Frigoscandia. Adjusted EBITDA amounted to EUR
0.2 million in the first quarter (previous year: EUR 3.7 million).
The Retail & Food segment generated revenues of EUR 230.1 million in the
first quarter of 2024 (previous year: EUR 207.0 million). The increase
reflects the acquisition of Gläserne Molkerei in the third quarter and the
acquisition of Prénatal and TeamTex in the fourth quarter of 2023. The
decline in revenues at Lapeyre due to a challenging market environment had
the opposite effect. EBITDA for the segment amounted to EUR -13.5 million in
the first quarter of 2024 (previous year: EUR 20.1 million). Adjusted EBITDA
amounted to EUR -9.7 million (previous year: EUR -2.3 million).
Adjusted EBITDA fluctuates significantly along the three phases of value
creation that investments usually go through during their affiliation with
Mutares (Realignment, Optimization and Harvesting). As in previous years,
the classification of portfolio companies into the three phases was adjusted
in the first quarter on the basis of the progress made in the transformation
and the approved budgets.
Condensed consolidated statement of profit and loss
Condensed consolidated balance sheet
Total equity & liabilities 4,247.3 4,348.7
Outlook
Against the background of the transactions completed and signed in the
fiscal year 2023, the transaction-rich first quarter of 2024 and the
assumptions regarding further intended transactions in the course of the
year as well as the plans for the individual portfolio companies, the
Management Board confirms the forecast for the fiscal year 2024 and
continues to expect revenues for the Mutares Group to increase to between
EUR 5.7 billion and EUR 6.3 billion.
The annual net income of Mutares SE & Co. KGaA should regularly be in a
range of 1.8% to 2.2% of the consolidated revenues of the Mutares Group.
Based on the expected revenues for the Mutares Group of EUR 6.0 billion on
average, the Management Board therefore expects a net income of EUR 108
million to EUR 132 million in the fiscal year 2024. All sources from which
the net income of Mutares SE & Co. KGaA is generally fed, namely revenues
from the consulting business on the one hand and dividends from portfolio
companies and, in particular, exit proceeds from the sale of investments on
the other, are expected to contribute to this.
Conference call today at 02:00 PM
A video and telephone conference (webcast) in English will be held today at
02:00 PM (CEST) for analysts, investors and members of the press.
Registrations for this are possible by e-mail to ir@mutares.de.
The webcast presentation can then be downloaded at
https://ir.mutares.com/en/publications.
Company profile of Mutares SE & Co. KGaA
Mutares SE & Co. KGaA, Munich (www.mutares.com), a listed private equity
holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki,
London, Madrid, Milan, Mumbai, Paris, Shanghai, Stockholm, Vienna and
Warsaw, acquires companies in special situations which show significant
operational improvement potential and are sold again after undergoing a
repositioning and stabilization process. For the fiscal year 2024,
consolidated revenues of EUR 5.7 billion to EUR 6.3 billion are expected.
Based on this, consolidated revenues are to be expanded to approx. EUR 7
billion by 2025 and EUR 10 billion by 2028. As the portfolio grows, so do
consulting revenues, which together with portfolio dividends and exit
proceeds accrue to the Mutares Holding. On this basis, the Holding Company
is expected to generate a net income of EUR 108 million to EUR 132 million
for the fiscal year 2024, EUR 125 million to EUR 150 million for the fiscal
year 2025 and EUR 200 million for the fiscal year 2028. The Management Board
and Supervisory Board together hold more than one-third of all Mutares
shares with voting rights. The shares of Mutares SE & Co. KGaA are traded on
the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX"
(ISIN: DE000A2NB650) and have been part of the selection index SDAX since
December 2023.
For more information, please contact:
Mutares SE & Co. KGaA
Investor Relations
Phone: +49 89 9292 7760
E-mail: ir@mutares.de
www.mutares.com
Press Contact in Germany
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone: +49 89 125 09 0333
E-mail: sh@crossalliance.de
www.crossalliance.de
Press Contact in France
CLAI
Matthieu Meunier
Phone: +33 06 26 59 49 05
E-mail: matthieu.meunier@clai2.com
Press Contact in UK
14:46 Consulting
Tom Sutton
Phone: +44 7796 474940
E-mail: tsutton@1446.co.uk
1) The comparative figures from the first quarter of 2023 have been adjusted
to reflect the reorganization of the segment structure.
2) Adjusted EBITDA is an EBITDA key performance indicator adjusted for
special effects, in particular due to the effects of regular changes in the
composition of the portfolio that are inherent to the business model. The
calculation is based on reported Group EBITDA, adjusted for
transaction-related effects (gains from favorable acquisitions or
deconsolidation effects) as well as restructuring and other one-off expenses
and income.
---------------------------------------------------------------------------
07.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
End of News EQS News Service
---------------------------------------------------------------------------
1896717 07.05.2024 CET/CEST
the first quarter of 2024 thanks to successful exit - expansion into the growth
market India initiated
EQS-News: Mutares SE & Co. KGaA / Key word(s): Quarterly / Interim Statement
Promising start to the year: Mutares increases net income of the Holding in
the first quarter of 2024 thanks to successful exit - expansion into the
growth market India initiated
07.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Promising start to the year: Mutares increases net income of the Holding in
the first quarter of 2024 thanks to a successful exit - expansion into the
growth market India initiated
* Revenues from consulting services and management fees of Mutares Holding
grew by 8% to EUR 29.3 million in the first quarter of 2024 (previous
year: EUR 27.1 million)
* Net income of Mutares Holding reaches EUR 51.3 million in the first
three months of 2024 (previous year: EUR 8.2 million), benefiting in
particular from the exit of Frigoscandia
* Group revenues increase by 21% to EUR 1,346.1 million (previous year:
EUR 1,108.0 million), Adjusted EBITDA improves to EUR 14.0 million
(previous year: EUR 5.1 million)
* Successful tap issue of the bond with a volume of EUR 100 million in the
first quarter of 2024
Munich, May 7, 2024 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) ("Mutares"
or "Mutares Holding" and, together with its subsidiaries, "Mutares Group")
today published its figures for the first quarter of 2024. At Mutares
Holding level, an increase in net income was achieved. At Group level
("Mutares Group") revenues and Adjusted EBITDA increased significantly due
to restructuring and development progress.
Significant growth at Holding company and Group level
The revenues of Mutares Holding, which result from consulting services and
management fees from the portfolio companies, increased by 8% to EUR 29.3
million in the first quarter of the fiscal year 2024 (previous year: EUR
27.1 million). In particular, the increase is due to portfolio growth in the
fiscal year 2023 due to the high transaction activity. The net income of
Mutares Holding amounted to EUR 51.3 million for the first three months of
2024 (previous year: EUR 8.2 million) and benefited significantly from the
exit of Frigoscandia in the first quarter of 2024.
At Group level, Mutares generated revenues of EUR 1,346.1 million in the
first quarter of 2024 (previous year: EUR 1,108.0 million). The increase is
due in particular to the high level of acquisition activity in the fiscal
year 2023. Group EBITDA (earnings before interest, taxes, depreciation and
amortization) is regularly influenced by transaction-related effects such as
gains from bargain purchases of completed acquisitions and deconsolidation
effects and amounted to EUR 66.1 million in the first three months of 2024
(previous year: EUR 112.4 million). Adjusted EBITDA, adjusted in particular
for transaction-related effects, amounted to EUR 14.0 million in the first
quarter of the fiscal year 2024 (previous year: EUR 5.1 million).
The Group's cash and cash equivalents amounted to EUR 527.0 million as at
March 31, 2024 (December 31, 2023: EUR 520.2 million) and the equity ratio
was 25% (December 31, 2023: 26%).
Successful continuation of high transaction activity
The period from January to March 2024 was again characterized by a high
level of transaction activity, with two completed transactions on the exit
side and the closing of the acquisitions of PRINZ Kinematics from AL-KO and
Temakinho from Cigierre as well as the signing of an agreement for the
acquisition of Magirus from Iveco Group.
With the acquisition of PRINZ Kinematics and its subsidiaries from AL-KO as
an add-on investment, Mutares strengthens the HILO Group with a leading
global system supplier for high-quality kinematic systems for OEMs in the
automotive technology sector.
The acquisition of Temakinho from Cigierre serves as a platform investment
to strengthen the Retail & Food segment. The well-known Italian restaurant
chain offers Japanese-Brazilian cuisine in ten directly managed restaurants
in Milan, Rome, Bologna and Florence, three franchise restaurants at Italian
airports and one franchise restaurant in Lyon (France) at prime locations.
Mutares has also signed an agreement for the acquisition of Magirus from
Iveco Group. The acquisition is expected to be completed no later than
January 2025. The renowned provider of vehicles, ladders and other products
as well as related aftersales services in the field of firefighting and
disaster control is intended as a platform investment for the Engineering &
Technology segment and generates annual revenues of over EUR 300 million.
On the exit side, Mutares completed two transactions in the first three
months of the fiscal year 2024. The portfolio company VALTI, a European
manufacturer of seamless precision steel tubes, was sold to the company's
management. In addition, the sale of Frigoscandia, a full-service provider
for temperature-controlled logistics, to Dachser was completed following a
successful repositioning. The transaction makes a significant contribution
to the net income of Mutares Holding in the first quarter of 2024.
Setting the course for further growth in the first quarter - expansion in
growth market India
Mutares has taken further important decisions in the first quarter of 2024.
In the newly formed HILO Group, Mutares bundles the portfolio companies KICO
and Innomotive Systems Hainichen (ISH) together with the recently completed
add-on acquisitions of PRINZ Kinematics and High Precision Components (HPC)
as a globally active system supplier for high-quality automotive technology.
In addition, the bond was increased by a further EUR 100 million to the
maximum volume of EUR 250 million under the existing increase option. The
capital inflow from the bond tap enables Mutares to take maximum advantage
of the opportunities arising on the buy side.
Following the recent opening of an office in Shanghai (China), Mutares is
continuing its expansion into Asia with a further office in Mumbai (India).
The market entry in India is a logical step for Mutares after the portfolio
companies SFC Solutions and MoldTecs (both part of Amaneos) already have
activities in this fast-growing market. India offers enormous opportunities
for Mutares as a target market with strong economic growth expected in the
coming years. According to current forecasts, India will become the
third-largest economy in the world by the end of the decade. Favorable
conditions for foreign direct investment and, in particular, the Indian
government's agenda for planned infrastructure development and investment
are fully in line with Mutares' target industries.
Restructuring and development progress characterize development of Adjusted
EBITDA
Revenues in the Automotive & Mobility segment amounted to EUR 605.9 million
in the first quarter of 2024 (previous year: EUR 448.7 million). This
increase was primarily due to the acquisitions made in the fiscal year 2023,
above all Peugeot Motocycles and the add-on acquisitions for the FerrAl
United Group (in particular MMT-B). EBITDA in the Automotive & Mobility
segment amounted to EUR 29.7 million in the first quarter of 2024 (previous
year: EUR 65.9 million). Adjusted EBITDA was impacted by the still negative
earnings contributions from the new acquisitions but amounted to a pleasing
EUR 22.3 million in the first three months of 2024 and was therefore
significantly higher than the previous year's figure of EUR -6.9 million.
The portfolio companies in the Engineering & Technology segment generated
revenues of EUR 224.3 million in the first quarter of 2024 (previous year:
EUR 263.1 million). Segment EBITDA amounted to EUR -11.7 million (previous
year: EUR 10.2 million). Adjusted EBITDA amounted to EUR -7.7 million
(previous year: EUR 0.7 million) and was negatively impacted in particular
by the still negative earnings contributions from the new acquisitions from
the fourth quarter of fiscal year 2023 (Efacec and Byldis), which more than
offset the positive developments at other portfolio companies in the
segment.
Revenues in the Goods & Services segment amounted to EUR 286.4 million in
the first quarter of 2024 (previous year: EUR 190.4 million)1. In addition
to the inclusion of the acquisitions from the fiscal year 2023, above all
GoCollective, ReloBus and MobiLitas (together formerly: Arriva Group) and
Palmia, Terranor Group and Conexus in particular showed pleasing organic
revenue growth. The segment's EBITDA amounted to EUR 52.8 million in the
first quarter of 2024 (previous year: EUR 6.9 million) and benefited
significantly from the sale of Frigoscandia. Adjusted EBITDA amounted to EUR
0.2 million in the first quarter (previous year: EUR 3.7 million).
The Retail & Food segment generated revenues of EUR 230.1 million in the
first quarter of 2024 (previous year: EUR 207.0 million). The increase
reflects the acquisition of Gläserne Molkerei in the third quarter and the
acquisition of Prénatal and TeamTex in the fourth quarter of 2023. The
decline in revenues at Lapeyre due to a challenging market environment had
the opposite effect. EBITDA for the segment amounted to EUR -13.5 million in
the first quarter of 2024 (previous year: EUR 20.1 million). Adjusted EBITDA
amounted to EUR -9.7 million (previous year: EUR -2.3 million).
Adjusted EBITDA fluctuates significantly along the three phases of value
creation that investments usually go through during their affiliation with
Mutares (Realignment, Optimization and Harvesting). As in previous years,
the classification of portfolio companies into the three phases was adjusted
in the first quarter on the basis of the progress made in the transformation
and the approved budgets.
Operatio- Allocated investments as of March 31, 2024 Revenue- Adj.
nal s YTD EBITDA-
phase as 03/2024 2 YTD
part of in EUR 03/
the million 2024
value in EUR
creation millio-
cycle n
Realignm- Automotive & Mobility iinovis Group Peugeot 183.1 -21.8
ent Motocycles Group Engineering & Technology
Byldis Efacec Goods & Services REDO Stuart
Retail & Food Gläserne Molkerei Prénatal
TeamTex Temakinho
Optimiza- Automotive & Mobility Amaneos FerrAl United 1,003.3 18.2
tion Group HILO Group Engineering & Technology
Gemini Rail and ADComms Guascor Energy NEM
Energy Group Goods & Services Asteri Facility
Solutions and Palmia Conexus Ganter
GoCollective, ReloBus and MobiLitas Repartim
Retail & Food FASANA Lapeyre Group
Harvesti- Engineering & Technology Clecim Donges Group 160.3 8.7
ng La Rochette Steyr Motors Goods & Services
Terranor Group Retail & Food keeeper Group
Condensed consolidated statement of profit and loss
EUR million Q1 2024 Q1 2023
Revenues 1,346.1 1,108.0
+/- Change in inventories 8.9 42.3
Other income 106.8 139.5
Cost of material -774.6 -730.7
Personnel expenses -422.5 -286.4
Other expenses -198.6 -160.4
EBITDA 66.1 112.4
Depreciation & Amortisation -85.4 -46.8
EBIT -19.3 65.5
Financial result -26.1 -16.2
Income taxes -9.5 0.8
Net income -54.9 50.2
Condensed consolidated balance sheet
EUR million 31/03/2024 31/12/2023
Intangible assets 244.5 245.3
PP&E 1,160.2 1,166.7
Right of use assets 465.4 466.1
Other 183.6 166.4
Non-current assets 2,053.8 2,044.5
Inventories 696.5 673.4
Trade & other receivables 516.2 491.0
Contract Assets 103.3 102.8
Cash & equivalents 527.0 520.2
Assets held for sale 0.0 138.6
Other 350.5 378.2
Current assets 2,193.5 2,304.2
Total assets 4,247.3 4,348.7
EUR million 31/03/2024 31/12/2023
Total equity 1,052.8 1,119.6
Financial liabilities 852.7 736.4
Provisions 319.6 342.3
Other 144.6 145.9
Non-current liabilities 1,317.0 1,224.6
Trade payables 643.3 674.6
Other financial liabilities 457.6 429.4
Contract liabilities 203.9 220.4
Provisions 170.1 166.3
Liabilities held for sale 0.0 131.3
Other 402.6 382.6
Current liabilities 1,877.5 2,004.5
Total equity & liabilities 4,247.3 4,348.7
Outlook
Against the background of the transactions completed and signed in the
fiscal year 2023, the transaction-rich first quarter of 2024 and the
assumptions regarding further intended transactions in the course of the
year as well as the plans for the individual portfolio companies, the
Management Board confirms the forecast for the fiscal year 2024 and
continues to expect revenues for the Mutares Group to increase to between
EUR 5.7 billion and EUR 6.3 billion.
The annual net income of Mutares SE & Co. KGaA should regularly be in a
range of 1.8% to 2.2% of the consolidated revenues of the Mutares Group.
Based on the expected revenues for the Mutares Group of EUR 6.0 billion on
average, the Management Board therefore expects a net income of EUR 108
million to EUR 132 million in the fiscal year 2024. All sources from which
the net income of Mutares SE & Co. KGaA is generally fed, namely revenues
from the consulting business on the one hand and dividends from portfolio
companies and, in particular, exit proceeds from the sale of investments on
the other, are expected to contribute to this.
Conference call today at 02:00 PM
A video and telephone conference (webcast) in English will be held today at
02:00 PM (CEST) for analysts, investors and members of the press.
Registrations for this are possible by e-mail to ir@mutares.de.
The webcast presentation can then be downloaded at
https://ir.mutares.com/en/publications.
Company profile of Mutares SE & Co. KGaA
Mutares SE & Co. KGaA, Munich (www.mutares.com), a listed private equity
holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki,
London, Madrid, Milan, Mumbai, Paris, Shanghai, Stockholm, Vienna and
Warsaw, acquires companies in special situations which show significant
operational improvement potential and are sold again after undergoing a
repositioning and stabilization process. For the fiscal year 2024,
consolidated revenues of EUR 5.7 billion to EUR 6.3 billion are expected.
Based on this, consolidated revenues are to be expanded to approx. EUR 7
billion by 2025 and EUR 10 billion by 2028. As the portfolio grows, so do
consulting revenues, which together with portfolio dividends and exit
proceeds accrue to the Mutares Holding. On this basis, the Holding Company
is expected to generate a net income of EUR 108 million to EUR 132 million
for the fiscal year 2024, EUR 125 million to EUR 150 million for the fiscal
year 2025 and EUR 200 million for the fiscal year 2028. The Management Board
and Supervisory Board together hold more than one-third of all Mutares
shares with voting rights. The shares of Mutares SE & Co. KGaA are traded on
the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX"
(ISIN: DE000A2NB650) and have been part of the selection index SDAX since
December 2023.
For more information, please contact:
Mutares SE & Co. KGaA
Investor Relations
Phone: +49 89 9292 7760
E-mail: ir@mutares.de
www.mutares.com
Press Contact in Germany
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone: +49 89 125 09 0333
E-mail: sh@crossalliance.de
www.crossalliance.de
Press Contact in France
CLAI
Matthieu Meunier
Phone: +33 06 26 59 49 05
E-mail: matthieu.meunier@clai2.com
Press Contact in UK
14:46 Consulting
Tom Sutton
Phone: +44 7796 474940
E-mail: tsutton@1446.co.uk
1) The comparative figures from the first quarter of 2023 have been adjusted
to reflect the reorganization of the segment structure.
2) Adjusted EBITDA is an EBITDA key performance indicator adjusted for
special effects, in particular due to the effects of regular changes in the
composition of the portfolio that are inherent to the business model. The
calculation is based on reported Group EBITDA, adjusted for
transaction-related effects (gains from favorable acquisitions or
deconsolidation effects) as well as restructuring and other one-off expenses
and income.
---------------------------------------------------------------------------
07.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
Language: English
Company: Mutares SE & Co. KGaA
Arnulfstr.19
80335 Munich
Germany
Phone: +49 (0)89-9292 776-0
Fax: +49 (0)89-9292 776-22
E-mail: ir@mutares.de
Internet: www.mutares.de
ISIN: DE000A2NB650
WKN: A2NB65
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1896717
End of News EQS News Service
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1896717 07.05.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
MUTARES KGAA NA O.N. | A2NB65 | Xetra | 41,150 | 04.06.24 17:35:13 | -0,150 | -0,36% | 0,000 | 0,000 | 41,550 | 41,300 |
