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MUTARES SE & CO. KGAA EQS-News: Mutares expects strong Q4 2024 with high M&A activity

Transparency directive : regulatory news

01/10/2024 10:30

EQS-News: Mutares SE & Co. KGaA / Key word(s): Miscellaneous
Mutares expects strong Q4 2024 with high M&A activity

01.10.2024 / 10:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


Mutares expects strong Q4 2024 with high M&A activity

Munich, October 1, 2024 – At the start of the fourth quarter of 2020, Mutares SE & Co. KGaA is on track to achieve the goals formulated as part of its stated strategy. An above-average development is expected in Q4, particularly in the Segments of Engineering & Technology, Goods & Services, and Retail & Food, while growth in achieving a relevant position in the automotive & mobility industry will lead to first-exit opportunities.

After a subdued third quarter on the transaction side, as anticipated, Mutares expects a very strong fourth quarter of 2024. Mutares intends up to five acquisitions with investments of up to EUR 20 million for more than EUR 600 million of turnover and at least two further exits in 2024.

On the exit side, particular attention is paid to Steyr Motors (“Steyr”), a global supplier of specialty engines in the fast-growing defense sector. Mutares acquired the company in November 2022, benefiting from a very fast strong operational turnaround and the general market environment. In the fiscal year 2024, Steyr will generate an operating profit (Adjusted EBIT) of more than EUR 10 million. The market environment is very beneficial and has led to very strong momentum that results in an increased number of solid opportunities and a strong order book. Julian Cassutti, CEO of Steyr, comments: "Our customers' defense budgets have increased so significantly worldwide that we have always been able to exceed the targets we have communicated so far. The current planning, which assumes an Adjusted EBIT of more than EUR 40 million by 2027, is rather conservative given the existing order book and sales pipeline."

Mutares is exploring for Steyr Motors the possibility of a public listing and selling part of the Steyr business by the end of the year to selected investors. Johannes Laumann, CIO of Mutares, comments: "I am confident that we will achieve our goals this year as well and that we will see some positive surprises on both the buy and sell side. We deliver what we promise."

 

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, Bad Wiessee, Chicago, 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 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



01.10.2024 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.
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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: 1999659

 
End of News EQS News Service

1999659  01.10.2024 CET/CEST

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