Net profit of Mutares Holding $MUX (+0.98%) at EUR 108.3 million - dividend of EUR 2.00 per share planned
- Revenues of Mutares Holding from advisory services and management fees increase by 6% to EUR 109.8 million in financial year 2024 (previous year: EUR 103.6 million)
- Dividend of EUR 2.00 per share planned for financial year 2024
- Group revenue to increase by 12% to EUR 5,261.6 million in the 2024 financial year (previous year: EUR 4,689.1 million)
- Listing of Steyr Motors and sale of Frigoscandia were key earnings drivers in financial year 2024
- Short and medium-term targets confirmed
Munich, May 20, 2025 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) ("Mutares" or "Mutares Holding" and, together with its subsidiaries, "Mutares Group") today published the audited annual and consolidated financial statements for the financial year 2024. Mutares thus confirms the preliminary business figures presented on April 28, 2025.
"With the presentation of our unqualified audited annual report 2024, we fully confirm the preliminary figures already communicated. The solid business development of the past year confirms us in our course - and we look to the future with confidence and a clear strategy. Our goal is to reap the rewards of our many years of development work in the coming months with accelerated exit activities," comments Robin Laik, CEO of Mutares.
Sales growth at holding and Group level through portfolio expansion
The revenues of the Mutares holding companyresulting from consulting services and management fees from the portfolio companies increased by 6% to EUR 109.8 million in the financial year 2024 (previous year: EUR 103.6 million), as provisionally reported. The increase is also a result of the significantly larger portfolio due to the high level of acquisition activity, which was followed by a corresponding expansion of operational consulting capacities.
The net income of Mutares Holding for the 2024 financial year under commercial law is also confirmed at EUR 108.3 million (previous year: EUR 102.5 million). The successful sale of Frigoscandia in the first quarter of 2024 and the gains from the sale and contribution of shares in the defense subsidiary Steyr Motors AG ("Steyr Motors"), which has been listed in the Scale segment of the Frankfurt Stock Exchange since the fourth quarter of 2024, made a significant contribution to the increase in 2024. The exits of portfolio companies and the sale of shares in Steyr Motors resulted in a cash inflow for the Mutares holding company of around EUR 70 million in the financial year 2024.
The Mutares Group generated revenue of EUR 5,261.6 million in the financial year 2024 as communicated (previous year: EUR 4,689.1 million). The increase is due to the high level of acquisition activity in the 2023 and 2024 financial years and the resulting expansion of the portfolio. Group EBITDA (earnings before interest, taxes, depreciation and amortization) was again boosted by gains from the acquisition of portfolio companies below market value ("bargain purchase") and amounted to EUR 117.1 million in the 2024 financial year (previous year: EUR 756.9 million). Adjusted EBITDA of the Mutares Group, adjusted in particular for effects from changes in the portfolio[1] of the Mutares Group amounted to EUR -85.4 million in the financial year 2024 (previous year: EUR +3.5 million). The positive effects from successfully implemented operational restructuring programs within the portfolio were overshadowed by opposing effects from the acquisition of loss-making investments and the impact of the weak macroeconomic development, particularly in the Automotive & Mobility segment.
Dividend proposal of EUR 2.00 per share
Mutares pursues a dividend policy with which 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. For the financial year 2024, the Executive Board and Supervisory Board will propose to the Annual General Meeting to be held on July 2, 2025 that a dividend totaling EUR 2.00 per share be distributed. This dividend amount corresponds to the minimum annual dividend set as part of the 2023 dividend policy update.
Outlook
Mutares plans further successful exits by the end of the financial year 2025: Sales processes for portfolio companies with cumulative revenues of EUR 1.85 billion have already been initiated, which should generate gross proceeds of more than EUR 200 million for the Mutares holding company.
In addition, Mutares confirms the communicated short and medium-term targets. These envisage an increase in consolidated revenues to EUR 10 billion by 2028 and a net profit of EUR 200 million for the Mutares holding company. For the financial year 2025, the Management Board continues to expect an increase in revenues in the Mutares Group to EUR 6.5 billion to EUR 7.5 billion. For the Mutares holding company, a net profit in the range of EUR 130 million to EUR 160 million is expected for the financial year 2025.
The 2024 annual report of the Mutares SE & Co. KGaA is available for download at www.mutares.com in the Investor Relations section for download.
[1] The basis for the calculation of the adjusted EBITDA of the Mutares Group is the Group EBITDA, adjusted for transaction-related effects (gains from the favorable acquisition of portfolio companies or deconsolidation gains or losses as deconsolidation effects) as well as restructuring and other one-off expenses or income.