Official press release dated 01.08.2025 from $MUX (-8,74 %) on the BAFIN publication. Let everyone draw their own conclusions.
- BaFin has initiated an audit of the 2023 annual financial statements and the associated management report
- Only certain disclosures in the notes and management report are the subject of the audit - not the company's key financial figures from the balance sheet and income statement
- Mutares welcomes and supports the audit as part of transparent reporting
Munich, August 1, 2025 - The German Federal Financial Supervisory Authority ("BaFin") today announced the initiation of an audit of the published annual financial statements of Mutares SE & Co. KGaA ("Mutares") as of December 31, 2023 and the related combined management and group management report.
BaFin's audit covers disclosures in the notes to the annual financial statements as of December 31, 2023 and the related combined management and group management report. The audit expressly does not concern any key financial figures of the company from the balance sheet and income statement and, in particular, has no impact on the net retained profits reported in the annual financial statements as at December 31, 2023. Both the annual financial statements as at December 31, 2023 and the associated combined management report and Group management report were audited by the company's auditor, Deloitte GmbH Wirtschaftsprüfungsgesellschaft, on March 27, 2024 with an unqualified audit opinion.
1. disclosures on receivables from affiliated companies in the notes to the annual financial statements of Mutares SE & Co. KGaA as of December 31, 2023
BaFin sees indications of a possible violation of Section 268 (4) sentence 1 HGB, as the balance sheet does not contain a separate note on the remaining term of receivables from affiliated companies.
As at the balance sheet date of December 31, 2023, all receivables had a contractually agreed term of less than one year. The wording in the notes, according to which some of the receivables may only be collected after twelve months, related to uncertainties in the restructuring progress of individual portfolio companies.
Mutares has already included additional quantitative disclosures in the annual financial statements as at 31 December 2024 - both retrospectively for receivables as at 31 December 2023 and prospectively for receivables as at 31 December 2024. As a result, the information interests of the users of the financial statements are now fully met from the company's perspective.
2 Scope of the forecast disclosures in the management report
BaFin criticizes the fact that the forecasts in the management report relate exclusively to key earnings figures and do not contain any statements on the net assets and financial position.
From Mutares' perspective, the most important financial performance indicators - revenue, EBITDA, adjusted EBITDA for the Group and the company's net profit for the year under commercial law - have been fully forecast.
The company's financial position is largely characterized by M&A and restructuring activities, the development of which is naturally subject to considerable uncertainty. These are addressed and explained in detail in the risk report. The company is of the opinion that, on this basis, the users of the financial statements receive a true and fair view of the net assets, financial position and results of operations.
Mutares stands for transparent and legally compliant financial reporting. Accordingly, Mutares takes note of BaFin's notification and welcomes the opportunity to contribute to further clarification of the facts within the framework of the proceedings. The company is convinced that the accounting has been carried out properly and that the legal requirements have been met. The company will cooperate constructively with BaFin.
