EQS-News

Mutares with successful fiscal year 2023: Net income of Mutares Holding increases to EUR 102.5 million – dividend of EUR 2.25 per share planned - Seite 2

The revenues of Mutares Holding result from consulting services to affiliated companies and management fees and increased by 46% to EUR 103.6 million in the fiscal year 2023 (previous year: EUR 71.1 million). The increase is a result of the expansion of the operational consulting business.

The Mutares Group generated revenues of EUR 4,689.1 million in the fiscal year 2023 (previous year: EUR 3,751.7 million). Group EBITDA (earnings before interest, taxes, depreciation and amortization) in accordance with IFRS amounted to EUR 756.9 million in the fiscal year 2023 (previous year: EUR 181.5 million), boosted by gains from bargain purchases of EUR 727.2 million (previous year: EUR 262.0 million) and the positive contribution from exits in the fiscal year. Adjusted EBITDA, adjusted in particular for the effects of regular changes in the composition of the portfolio, amounted to EUR 3.5 million for the fiscal year 2023 (previous year: EUR -32.7 million) and reflects the encouraging progress made in restructuring and developing parts of the portfolio.

The Group's cash and cash equivalents amounted to EUR 520.2 million as at December 31, 2023, and thus increased significantly compared to the previous year's reporting date (December 31, 2022: EUR 246.4 million). As at the reporting date, the equity ratio was 26% compared to 24% as at December 31, 2022.

High transaction momentum with largest exit in the Company's history

The fiscal year 2023 was once again characterized by a high level of transaction momentum. On the acquisition side, Mutares completed a total of 16 acquisitions in the four segments Automotive & Mobility, Engineering & Technology, Goods & Services and the newly created Retail & Food segment.

Thanks to the balanced maturity and size of the portfolio, the focus is also increasingly on activities on the exit side. In the fiscal year 2023, Mutares completed a total of 7 sales of portfolio companies. Among these, the sale of SMP was the most successful exit in the Company's history to date with a cash inflow for the Mutares Holding Company of around EUR 150 million.

Dividend proposal of EUR 2.25 per share

Mutares pursues a dividend policy with which the shareholders are to participate directly and continuously in the Company's success and at the same time the short and medium-term development of Mutares can be driven forward. In the fiscal year 2023, Mutares resolved an annual minimum dividend of EUR 2.00 per dividend-bearing share as part of an update of the dividend policy. In extraordinarily successful fiscal years, the Company will also consider in the future, when proposing the appropriations of profits, the extent to which the remaining retained net profit will also be distributed in the form of a possible bonus dividend. For the fiscal year 2023, the Management Board and Supervisory Board will propose the distribution of a dividend totaling EUR 2.25 per share at the Annual General Meeting on June 4, 2024. This dividend amount consists of a minimum dividend of EUR 2.00 per share in line with the communicated long-term dividend policy and an additional proposed bonus dividend for the fiscal year 2023 of EUR 0.25 per share.