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 2

Net income of Mutares Holding grows by 41% to new record level

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 net income of Mutares Holding for the fiscal year 2023 increased to EUR 102.5 million, compared with EUR 72.9 million in the previous year. The successful sale of Special Melted Products ("SMP") made a significant contribution to this result.

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.