Steyr Motors $4X0 (+4,11 %) ($MUX (+1,91 %)) announced the establishment of a joint venture with Shangyan Power Technology Jiangsu, securing major sales for at least five years.

Shangyan Power is one of the leading Asian companies in the development and production of a wide range of diesel engines.

The joint venture is not only a strategic milestone in the internationalization strategy, which opens up new growth opportunities in the ASEAN region and on a global level, but also secures Steyr Motors a contractually guaranteed minimum contribution of EUR 65 million in sales and EUR 13 million in EBIT within five years from 2026.

This underlines the commitment of both partners to ensure sustainable competitiveness and global growth. The major advantage for Steyr Motors, apart from the positive effect on sales and earnings, is that no additional capital for investments or working capital will be required for the expansion of capacities via the joint venture.

The new product line complements the existing core products of Steyr Motors without overlapping with current products and thus opens up new customer segments for the company. In the ASEAN region alone, Steyr Motors is opening up an additional addressable market potential of an estimated USD 13 to 20 billion.

"This partnership is an important step in our global strategy," says Julian Cassutti, CEO of Steyr Motors AG. "It strengthens our ability to provide locally manufactured, high-quality drive solutions, while expanding our product portfolio in a targeted manner. Together we are opening up new markets, improving our responsiveness and creating a solid foundation for long-term success."

The joint venture will also support the Austrians in expanding their global sales and service network, which will enable them to serve a broader customer base more efficiently and quickly. The operational launch is planned for the end of 2025.

Hello my dear ones....now that my REHA has ended after 4 weeks and the rocky road ahead has begun, it's time to look further ahead and spend a little more time in the portfolio again...

🟢 Top 3 August

$HSBA (+1,2 %) +5,40 % (+10,64%)

$3750 (+0,86 %) +4,65% (+26,46%)

$RIO (+0,08 %) +3,69% (-1,73%)

🔴 Flop 3 August

$1211 (+1,06 %) -4,95% (-15,90%)

$VAR (+0,51 %) -1,45% (+4,79%)

$PETR4 (-0,16 %) +1,54% (-6,89%)

》Upgraded ✅️

$MUX (+1,91 %)

$IE000MMRLY96 (-0,12 %)

$VAR (+0,51 %)

...measured against August, things actually went quite well, including dividends, and April has long since been put to bed, even with Trump's whims...

...YTD and overall the figures continue to fit quite well and my high-yield dividend strategy continues to work even after all the capers.

A pro po dividends, there were € 107.21 gross and € 104.67 net last month, which corresponds to an increase YTD of 29.73 %, but on the other hand also represents one of my weaker months.

Compared to my portfolio value ~23100 € but still acceptable.

This month looks better again and with ~300 € dividends a good reinvest 🫠

A small drop of bitterness: contrary to my forecast, my FSA will be torn tomorrow and from then on, unfortunately, the ailing state system will also cash in again. But shit happens, I'm getting married next year and still have enough left for the further expansion of the story with a net dividend of ~€1700 this year, in contrast, I don't have to sell anything and so I see my portfolio easily in the 6-digit range within the next 4-5 years at the latest even with the wrecking ball (better late than never) 💪🏻

Another small component of this is my forecast increase for 2025...I had planned between 23-25k at the end of the year, but since things sometimes go well and develop differently than expected, I am now raising my target to 25-28k and am thus on a very good and realizable path.

With this in mind, here's to another month...📈

Mutares SE & Co. KGaA $MUX (+1,91 %) has signed an agreement to acquire the European business of Kawneer ("Kawneer EU"), which will be spun off from Kawneer's US business.

The transaction strengthens Mutares' Engineering & Technology segment as a new platform acquisition and is expected to close in the fourth quarter of 2025, subject to antitrust approval.

Kawneer EU is a leading developer, manufacturer, supplier and distributor of aluminum window and façade systems and operates through three country-based business units in the Netherlands, France and the UK, each with high market penetration and long-standing customer relationships.

With over 450 customers and four highly efficient production facilities, the platform offers comprehensive solutions for building envelopes, including windows, doors, sliding doors, curtain walls and frame systems for the residential market and commercial properties, making it a one-stop store for customers.

The company generates sales of around EUR 125 million and employs over 400 people.

Kawneer EU offers added value through its products and services along the entire value chain.

The company's brand is known for its quality, performance, energy efficiency and ease of installation, through which it has built up a loyal customer base.

Recent investments and market confidence have positioned Kawneer EU for growth and improved profitability.

With the acquisition, Mutares continues to support the transformation of Kawneer EU into a standalone European specialist through operational improvements, geographic expansion in Europe and product innovation.

The consolidated structure of the platform enables cost efficiencies and shared services across IT, procurement and finance, improving profitability and scalability.

Johannes Laumann, CIO of Mutares, comments: "This acquisition is a strategic step to further strengthen our focus on the construction sector in the Mutares Engineering & Technology segment. Kawneer is a perfect strategic fit with our existing portfolio companies Byldis and Smart Curtain Wall, which belongs to Kalzip. Together, these companies expand Mutares' technological capabilities and customer offering and create a competitive player in the European market for windows and glass façades. I am confident that through further operational improvement measures we can successfully increase profitability and market share while creating a solid foundation for sustainable growth."

Mutares SE & Co. KGaA $MUX (+1,91 %) has successfully completed the acquisition of Lineage Spain Transportation S.L. "Fuentes" from the Lineage Group. The transaction strengthens the Goods & Services segment as a new platform acquisition.

Fuentes is a service company specialized in the temperature-controlled transportation of food products - mainly fruit and vegetables - offering national, international and last-mile logistics across the entire food supply chain, ensuring safety, quality and regulatory compliance.

Fuentes is headquartered in Las Torres de Cotillas (Murcia), an important agricultural center in Europe, in close proximity to major food manufacturers and operates three other facilities throughout Spain and an international hub in Vlissingen (Netherlands).

Fuentes has its own fleet of vehicles and a network of subcontractors that offer maximum flexibility. In total, the company employs around 850 people and plans to generate sales of around EUR 200 million in 2025.

Press release from $MUX (+1,91 %) from 27.08.2025.

I'm curious to see if it was really worth it, as the takeover was only completed six months ago. I wonder if they didn't split up again quickly because of the steel tariffs?

• Sale of the two business units Hot Rolling Mill and Mechanical Processing incl. Heat Treatment to strategic buyer
• Further transformation measures planned at Buderus Edelstahl for future orientation

Munich, August 27, 2025 - Buderus Edelstahl, a wholly owned subsidiary of Mutares SE & Co. KGaA (ISIN: DE000A2NB650), has signed an agreement to sell its two business units Hot Rolling Mill and Mechanical Processing including Heat Treatment to GMH Group. The transaction is expected to be completed in the fourth quarter of 2025.

Mutares acquired Buderus Edelstahl from the Austrian steel and technology group voestalpine AG in February 2025 as a classic carve-out asset. The company is a renowned manufacturer of high-quality special steels with a focus on tool steel and engineering steel, a globally diversified customer portfolio and annual revenue of around EUR 360 million.

Following initial successful optimization and transformation measures on site since the acquisition, progress has already been made in optimizing production processes.

In order to pursue the further necessary transformation steps, the two business units Hot Rolling Mill and Mechanical Processing, including heat treatment, will be sold to GMH Gruppe, which will strengthen and further expand its portfolio in the special steels segment with this acquisition. This strategic buyer thus offers the two Buderus stainless steel divisions Hot Rolling Mill and Mechanical Processing including Heat Treatment great potential for further expansion. Despite difficult market conditions, this step has secured around 670 jobs at the Wetzlar site in the long term. Due to the continuing challenging market conditions in the steel industry, the drop forging division will also be sold to the FerrAl United Group (a wholly owned subsidiary of the Mutares Group). According to current planning, the remaining division will cease its operating activities in the course of the fourth quarter of 2025.

Johannes Laumann, CIO of Mutares, comments: "Since the acquisition of Buderus Edelstahl in February 2025, our local team has successfully implemented initial restructuring measures in a very short time, paving the way for this partial sale of Buderus Edelstahl. In GMH Gruppe, I believe we have found the ideal partner for the sustainable further development of the company."

Press release Mutares $MUX (+1,91 %) from 12.08.2025

• Revenues from advisory services and management fees of Mutares Holding reach EUR 53.4 million in the first half of 2025 (previous year: EUR 58.3 million)
• Net income of Mutares Holding increased by 32% to EUR 69.8 million in the first six months of 2025 (previous year: EUR 53.0 million)
• Group revenues increase by 19% to EUR 3,106.3 million (previous year: EUR 2,610.4 million), EBITDA jumps to EUR 598.2 million (previous year: EUR 71.6 million), Adjusted EBITDA at EUR -88.5 million (previous year: EUR 15.7 million)
• More exit activity expected for the remainder of the year
• Forecast for financial year 2025 and medium-term outlook confirmed

Mutares SE & Co. KGaA $MUX (+1,91 %) has signed an agreement to acquire the crane division of Hyva.

The transaction strengthens Mutares' Goods & Services segment as a new platform investment and is expected to be completed in the fourth quarter of 2025, subject to antitrust approval.

Hyva's Cranes division is an internationally established manufacturer and distributor of cranes and comprehensive services that designs, manufactures and services truck cranes for major global markets as part of a multi-brand strategy. The company generates sales of approximately EUR 100 million and employs around 400 people.

It has production and assembly plants in Italy, Brazil and China as well as a global network of sales and distribution offices to ensure local delivery and customer support.

The company's product portfolio serves various industries such as commercial and residential construction, infrastructure, marine equipment and many more, ensuring the necessary flexibility while maintaining cost efficiency and an optimal price-performance ratio.

With its diversified brand portfolio, deep experience in the development of compact and mid-sized crane applications and exceptionally well-established global presence, the company generates significant value in its niche and taps into high growth potential in emerging and developed markets, further strengthening its global market position.

Johannes Laumann, CIO of Mutares, comments: "Hyva's Cranes business is a promising new platform for our Goods & Services segment with a globally recognized brand for truck cranes. The business offers an opportunity for a turnaround and carve-out due to recent financial weakness and operational inefficiencies. With our proven expertise in carve-outs and restructurings, we aim to restore profitability and drive sustainable growth. With a hands-on approach and a long-term investment strategy, we see the company as a valuable addition to the Mutares portfolio."

It's been over a year since my last presentation.

I have continued to pursue my goal of reducing individual stocks during this time. 🎯 I have now reached a point where I am saving a single ETF ( $VWRL (+0,53 %) ) with €1,500/month and let all other securities continue to run. 📈

Buying individual stocks has become rather rare for me. However, one of these was a good buy last year: $CBK (+1,56 %) with a current +120% 🚀as well as $MUX (+1,91 %) which I sold at +33% (a little too late). My 12 Krugerrands also did quite well with an annual performance of around 31%. 🏅

I'm currently holding some cash for a good opportunity. 💶

I am happy about any feedback on my portfolio 🥳

Steyr Motors AG $4X0 (+4,11 %) ($MUX (+1,91 %)) is continuing its international expansion and is now also active on the Polish market. With a long-term framework agreement with Taurus Sea Power, a leading distributor of marine engines, Steyr Motors has taken a step towards opening up further markets in Eastern Europe. According to the Austrian genset manufacturer, in addition to Poland, Estonia, Latvia and Lithuania are also to become more of a focus.

"The market entry in Poland is a milestone for our international growth strategy. At the same time, it is a significant step towards geographical diversification within our core market of Europe," said Julian Cassutti, CEO of Steyr Motors, on Tuesday.

The agreement concluded in July 2025 includes exclusive cooperation in sales, spare parts supply and service. Steyr Motors intends to expand its position in Poland and neighboring countries in a targeted manner. The Polish market in particular is considered attractive due to its high defense spending and strategic importance within the EU and NATO.

Another component of the cooperation is the training of certified technicians at Taurus Sea Power to ensure service quality.

After careful consideration, I have today - probably - temporarily disposed of my entire holding of Mutares shares. $MUX (+1,91 %) shares. Together with the dividend received, I have a total gross return of a good 13%, which is not too bad for a 7-month holding period.

Why did I get out? The share price performance had already been gradually negative over the weeks since the end of June, then came the crash.

The immediate counterstatement was prompt, but the update call on Monday was too thin for me personally, with little concrete information on the individual points. And then perhaps the sticking point for my decision is that the aim is to resolve the matter by October. On the one hand, we are dealing with an authority and they are not exactly known for their speed. But it does make me wonder why Mutares wants to take so long. And in connection with the recent disagreements with the auditing company, I personally find the investment too uncertain at this point in time.

The figures will be published next week, and if there are even minor negative "surprises", I think another significant sell-off is possible.

No, I don't have shaky hands, in view of the overall state of the markets, there are many things possible that I simply don't want to do to myself and will wait and see how things develop over the next 3 months before deciding whether to re-enter the market.