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Mutares SE & Co. KGaA: Annual General Meeting approves dividend of EUR 2.00 per share
The Annual General Meeting of Mutares SE & Co. KGaA (ISIN: DE000A2NB650) today approved the distribution of a dividend of EUR 2.00 per share (previous year: EUR 2.25) for the financial year 2024 and ratified the actions of the Management Board and the Supervisory Board for the financial year 2024. In addition, Dr. Kristian Schleede was elected by the Annual General Meeting to replace Dr. Axel Müller, who stepped down from his position in April 2025, as a member of the Supervisory Board and the Shareholders' Committee.
CIO Johannes Laumann commented: "Our company has developed successfully in 2024. We have taken Mutares to a new level internationally and further expanded the portfolio. Mutares has grown to an annualized revenue of EUR 7 billion in 2024 and has thus achieved a seven-fold increase within five years. Also on the sales side, with the further maturity of our portfolio, we are currently running eight processes that provide a good foundation for successful deals."
Mutares brings Terranor Group AB (publ) to the Nasdaq First North Growth Market in Stockholm
Press release $MUX (-4,66%) from 30.06.2025
Successful IPO. The offer was oversubscribed several times, the share price rose by 2.5% at the start on the Stockholm Stock Exchange and generated $MUX (-4,66%) a nice million in proceeds.
- Listing of Terranor Group AB (publ) on the Nasdaq First North Growth Market in Stockholm
- One of the leading providers of operation and maintenance services with sales of around EUR 285 million (SEK 3,147 million) in 2024
- Successful turnaround strategy of Mutares since the foundation of Terranor Group AB (publ) as an independent company in 2020/2021
- Mutares sells 25% of the shares and remains majority shareholder with a stake of 75%
Munich, June 30, 2025 - Terranor Group AB (publ) (ISIN: SE0025159023, ticker symbol TERNOR) ("Terranor"), a portfolio company of Mutares SE & Co. KGaA (ISIN: DE000A2NB650) ("Mutares"), made its stock market debut today on the Nasdaq First North Growth Market in Stockholm, Sweden. The initial price was SEK 20.00 per share. This corresponds to a total value of all shares in the company of SEK 400 million, or approximately EUR 36 million.
The placement volume of 5,000,000 existing shares corresponds to 25% of the outstanding shares. With a 75% stake, Mutares remains the majority shareholder of Terranor. The gross proceeds to Mutares amount to approximately SEK 100 million or approximately EUR 9 million. To cover any oversubscription in connection with the offering, Mutares has granted DNB Carnegie an option to purchase up to 750,000 additional existing shares, representing up to 15% of the total number of shares in the offering. Assuming that the over-allotment option is exercised in full, the offer comprises up to 5,750,000 existing shares, representing 28.75% of the total number of shares and voting rights in Terranor.
Mutares has entered into a lock-up agreement not to sell any further shares for a period of 180 days from the first trading day. The lock-up agreement is subject to certain exceptions or the prior written approval of DNB Carnegie. The members of the Board of Directors and the Executive Board of Terranor have committed to a lock-up period of 360 days. Their lock-up agreements are also subject to certain exceptions or prior written approval by DNB Carnegie. In addition, Terranor has undertaken not to increase its capital by issuing shares or other financial instruments for a period of 360 days without the prior written consent of DNB Carnegie or to propose such an increase to the General Meeting, subject to certain exceptions.
Mutares Portfolio Spotlight: Magirus accelerates transformation with record order backlog of almost EUR 800 million
Press release $MUX (-4,66%) from 27.06.2025
- Takeover from IVECO Group successfully completed in January 2025
- Transformation measures initiated; visible operational and commercial progress
- Current order backlog of around EUR 600 million; further orders of over EUR 200 million expected
Munich, June 27, 2025 - Following the acquisition of Magirus GmbH from the IVECO Group in January 2025, Mutares SE & Co. KGaA (ISIN: DE000A2NB650) ("Mutares") reports further progress in the operational realignment and commercial development of the portfolio company.
Since joining the Mutares portfolio, Magirus has implemented a number of transformation initiatives. These include a reorganization of the management structure, cost optimization programs, improved project governance and an acceleration of product development. The aim of these measures is to strengthen the operating model and increase market responsiveness.
The company's order backlog has now risen to around EUR 600 million. In addition, Magirus is in the final negotiation phase for a project with a volume of around EUR 200 million. If awarded, this would be the largest single order in the company's recent history.
As part of its 10-point transformation program, Magirus is also pushing ahead with its international expansion. A new legal entity in Switzerland is scheduled to commence operations on October 1, 2025. Preparations for market entries in Spain and the United Arab Emirates are proceeding according to plan. In addition, a new unit will be established in Romania to support the integration of regional suppliers and production coordination. Potential add-on opportunities in Croatia and Austria are currently being examined.
Based on the current pipeline and the ongoing implementation of the strategic roadmap, Magirus continues to consistently pursue the goal of achieving an order backlog of EUR 1 billion by the end of 2025.
Johannes Laumann, CIO of Mutares, comments: "Magirus has made remarkable progress in just a few months. The team is acting with focus and clarity - the momentum we are currently seeing is the result of disciplined work in all areas. We are convinced that Magirus is well on track to achieve its commercial goals and create a solid foundation for sustainable value creation."
Mutares intends to go public with its portfolio company Terranor Group AB
Press release $MUX (-4,66%) from 23.06.2025
- Terranor Group AB (publ) aims to be listed on the Nasdaq First North Growth Market in Stockholm in June 2025
- One of the leading providers of operation and maintenance services with revenues of approximately EUR 285 million (SEK 3,147 million) in 2024
- Successful turnaround strategy of Mutares since the foundation of Terranor Group AB (publ) as an independent company in 2020/2021
- Mutares remains a committed majority shareholder
Munich, June 23, 2025 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) is considering a listing of its portfolio company Terranor Group AB (publ) ("Terranor") through a public offering on the Nasdaq First North Growth Market ("Nasdaq First North") in Stockholm. Trading is expected to commence at the end of June 2025.
Terranor was acquired as a spin-off of NCC's road maintenance activities in Sweden and Finland in 2020 and in Denmark in 2021. The company is today one of the leading providers of operations and maintenance for state and municipal roads in these countries with revenues of approximately EUR 285 million (SEK 3,147 million) in 2024.
During Mutares' ownership, Terranor has expanded its market share through its tendering strategy and is today well positioned in the Nordic region with a number of state, municipal and, to a limited extent, private road operation and maintenance contracts.
An IPO would provide an investment opportunity for institutional and private investors to tap into this market, which is driven by an underlying increase in spending as a result of the focus on maintenance deficits at the state level.
Johannes Laumann, CIO of Mutares, comments: "We are excited to embark on the IPO journey of Terranor, a company that provides services critical to societal infrastructure. This contemplated IPO of Terranor represents a fantastic success for the buy-and-build approach and value creation strategy. Mutares will remain the majority shareholder after the IPO."
Mutares forecast
Why does the forecast in the chart below look so bad?
Is the next IPO from the Mutares portfolio coming?
Following the successful IPO of Steyr Motors AG $4X0 (-4,28%) the next IPO from the Mutares portfolio is now on the horizon. $MUX (-4,66%) is on the horizon.
In one of his most recent interviews, CIO Johannes Laumann also mentioned another IPO in 2025 in addition to numerous exits, and now the candidate is also known.
Amaneos SE & Co. KGaA (subsidiary of Mutares since 2023)
FIRST START: targeted Q3/Q4 2025
REVENUE: ~€1.2 billion
INDUSTRY: Automotive supplier (plastic elements)
HQ: Frankfurt
Conclusion: ...and the story goes on 👍🏻
US tariffs burden voestalpine
$VOE (+3,07%)
https://ooe.orf.at/stories/3308198/
Earnings before interest, taxes, depreciation and amortization (EBITDA) fall from 1.7 billion to 1.3 billion
Net profit fell from 207 to 179 million euros.
Turnover decreased by 5.6 percent to 15.7 billion euros
Dividend now reduced to 0.60 (previously: 0.70) euros per share.
The decline in earnings was justified by a gloomy market environment and internal restructuring measures within the Group. Among other things, Voestalpine sold the subsidiary Buderus Edelstahl (sale to $MUX) (-4,66%) and adjusted its sales structure.
For 2025/26, the Group expects EBITDA of between EUR 1.4 and 1.55 billion. The announced US tariffs on steel products are likely to have a negative impact on earnings in the mid double-digit million euro range.
Mutares has completed the acquisition of NBHX Trim Europe from Ningbo Lawrence Automotive Interiors Co., Ltd.
Mutares SE & Co. KGaA $MUX (-4,66%) has completed the acquisition of NBHX Trim Europe from Ningbo Lawrence Automotive Interiors Co, Ltd, a subsidiary of Ningbo Huaxiang Electronic Co, Ltd ("NBHX").
The company strengthens Mutares' Automotive & Mobility segment and will complement the Matikon Group within Amaneos as an add-on acquisition.
NBHX Trim Europe is a leading European supplier of decorative surfaces for premium automotive interiors. The company develops and produces interior components in a variety of materials, including aluminum, wood, carbon, leather and injection-molded plastics.
Headquartered in Bruchsal (Germany) with additional production facilities in Rolem (Romania) and Abergavenny (UK), the company generated sales of almost EUR 200 million in 2024 and employs around 2,000 people.
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