Germany · Delayed Price · Currency is EUR Mutares SE & Co. KGaA Earnings Call Transcripts
Fiscal Year 2025
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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, risk-averse strategy drives rapid turnaround and value creation in underperforming assets, with ambitious growth targets of €10 billion sales and €200 million net profit by 2028. Recent successes include the IPO of Steyr Motors and strong operational improvements across the portfolio.
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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% to EUR 2.6 billion in H1 2024, with positive net income of EUR 53 million driven by portfolio exits. Eleven acquisitions and five exits supported global expansion, while guidance for full-year revenue and net income was reaffirmed.