EQS-News

Mutares publishes annual report 2023: Net income of Mutares Holding increases to EUR 102.5 million – Further increase to between EUR 108 million and EUR 132 million expected for fiscal year 2024 - Seite 3

Expansion to four segments – satisfactory development

Revenues in the Automotive & Mobility segment amounted to EUR 1,878.3 million for the fiscal year 2023 (previous year: EUR 1,081.6 million). This increase was primarily due to the acquisitions made in the financial year, above all Peugeot Motocycles and the add-on acquisitions for the FerrAl United Group (in particular MMT-B) and in the previous year (MoldTecs, Cimos and SFC Automotive France), which were only included in the Group from the date of acquisition in the fiscal year 2022. EBITDA in the Automotive & Mobility segment amounted to EUR 232.2 million for the fiscal year 2023 (previous year: EUR 34.8 million). This includes gains from bargain purchases totaling EUR 271.6 million (previous year: EUR 86.0 million). Adjusted EBITDA was negatively impacted by a persistently challenging business environment and the still negative earnings contributions from the new acquisitions, but improved extraordinarily year-on-year to EUR 3.3 million (previous year: EUR -49.0 million).

The investments in the Engineering & Technology segment generated revenues of EUR 933.9 million in the fiscal year 2023 (previous year: EUR 1,176.0 million). The decline is mainly a result of the exits in the second half of 2022, particularly of Nordec Group, as well as Lacroix+Kress and Japy Tech at the beginning of the fiscal year 2023. The acquisitions of NEM Energy, Guascor Energy, SMP, VALTI and Steyr Motors made in the course of the fiscal year 2022 and the acquisitions in the fiscal year 2023 (Efacec and Byldis) were unable to fully offset this effect. Benefiting from gains from bargain purchases of EUR 162.5 million (previous year: EUR 172.2 million) and deconsolidation effects of EUR 117.6 million (previous year: EUR 7.6 million) in connection with the segment's transactions, EBITDA improved to EUR 227.6 million (previous year: EUR 138.5 million). Adjusted EBITDA amounted to EUR -14.5 million (previous year: EUR -3.9 million) as a result of partially offsetting effects.