Mutares $MUX (+3,41 %)

Mutares continues growth course and confirms forecast

After the first half of the year, the investment company Mutares sees itself on course to achieve its annual targets.

The Management Board confirms the forecast, announced the SDax-listed company (SDAX) announced in Munich on Tuesday. Accordingly, revenue is expected to grow by more than a third to between EUR 5.7 billion and EUR 6.3 billion in 2024 in the best-case scenario. Net profit for 2024 is expected to be between 108 million euros and 132 million euros - after 102.5 million euros last year.

In the first half of the year, revenue at Group level rose by 15 percent to 2.6 billion euros. Earnings before interest, taxes, depreciation and amortization (EBITDA), on the other hand, fell by over 80% to just under 72 million euros. According to Mutares

naturally fluctuates greatly, as the Munich-based company's investments vary greatly in terms of market environment, business model and progress in the restructuring cycle. The bottom line for the shareholders was a loss of EUR 156 million due to higher depreciation and amortization and a weaker financial result, among other things, compared to a profit of EUR 277 million in the same period of the previous year.

According to Mutares, as a listed private equity holding company, it acquires medium-sized companies that are restructured or repositioned and then resold. In the first half of the year, a total of eleven transactions were completed, of which seven were acquisitions and four were disposals.

In the picture:

One of Mutares' takeovers.

The Iveco Magirus firefighting division.

Source: finanzen.net