Germany · Delayed Price · Currency is EUR Mutares SE & Co. KGaA Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw revenues of EUR 1.7 billion and flat net income, with strong adjusted EBITDA growth and four of five segments profitable. Major acquisitions and a capital increase set the stage for a stronger H2, with full-year guidance reaffirmed.
Fiscal Year 2025
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Net income reached EUR 130.4 million and revenues EUR 6.5 billion in 2025, driven by acquisitions and successful exits. Guidance for 2026 targets up to EUR 9.1 billion in revenue, with U.S. expansion and new deals in energy and chemicals set to fuel growth.
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Revenues rose 20% year-over-year to nearly EUR 5 billion, driven by acquisitions, while adjusted EBITDA improved but remains negative due to the turnaround focus. Guidance for net holding profitability and revenue is confirmed, with strong growth and multiple transactions expected by year-end.
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Revenue grew 20% year-over-year to over EUR 3 billion, with EBITDA nearing EUR 600 million, driven by acquisitions and exits. Outlook for H2 2025 targets EUR 200 million in exit proceeds and up to EUR 7.5 billion in revenue, with a strategic shift toward infrastructure, logistics, and chemicals.
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BaFin's review of the 2023 financial statements has narrowed to two disclosure topics: clarity on receivables from affiliated companies and the scope of forecast KPIs. The process is expected to conclude by October, with management prepared for further engagement.
Fiscal Year 2024
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Preliminary FY2024 results show group revenue of €5.3B and net income of €108.3M, with Q1 2025 revenue at €1.5B and strong EBITDA from recent exits. Guidance for FY2025 targets €6.5–7.5B in revenue and €130–160M net income, with continued focus on acquisitions, exits, and a €2/share dividend.
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Q3 2024 featured strong acquisition and divestment activity, with group revenue nearing €4 billion and a successful Steyr Motors IPO. Adjusted EBITDA was impacted by seasonality and new acquisitions, but guidance for 2024 and long-term targets remain reaffirmed.
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A diversified turnaround investor targets €10 billion sales and €200 million net profit by 2028, leveraging operational expertise and global expansion. Recent successes include rapid restructurings, new IPOs, and a strong pipeline of exits, with a commitment to increasing dividends.
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Financials remain robust and fully audited, with a strong growth and exit strategy in place. Receivables are actively managed, and new acquisitions are structured to reduce risk. The exit pipeline is promising, with at least €200 million expected by end-2025.
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Revenue grew over 15% year-over-year to EUR 2.6 billion in H1 2024, with positive net income of EUR 53 million driven by successful exits. The group expanded globally, completed 11 acquisitions, and maintains strong guidance for 2024 and ambitious growth targets for 2028.