Mutares starts with strong numbers in Q1 2017

The Mutares group (ISIN: DE000A0SMSH2) has achieved in Q1 2017 a significant revenue increase of 36 percent amounting to EUR 208.2m and very strong operating earnings (EBITDA) of EUR 21.5m. The Executive Board expects 2017 to become a record year with dynamic transaction activities in the coming months

In Q1 2017, the Mutares group has increased its revenues by 36 percent to EUR 208.2m (Q1 2016: EUR 152.7m). The strong increase in revenues is driven particularly by STS (plus 59 percent in comparison to Q1 2016, including the recent add-on acquisition), Elastomer Solutions (13 percent) and Zanders (10 percent). A further revenue driver was the initial consolidation of Balcke-Dürr.

Operating earnings (EBITDA) amounted to EUR 21.5m (Q1 2016: EUR 4.2m). To be emphasized are significant improvements in operating earnings at A+F (plus 60 percent in comparison to Q1 2016), STS (53 percent) and Elastomer Solutions (40 percent). The highest profit contribution was generated through the sale of EUPEC Germany.

In order to inform investors more frequently about the operational development of the group’s segments, Mutares will publish updates of the NAV quarterly. The strongest driver for the NAV was the outstanding development within the Automotive segment which outperformed the budget significantly.

Segment	NAV as of March 31, 2017 (in mEUR)
Automotive	113.1
Wood & Paper	39.3
Construction & Infrastructure	51.2
Engineering & Technology	66.4
Consumer Goods & Logistics	26.3
Net cash	20.9
Total	317.2

Due to the sustained attractive transaction pipeline the Executive Board anticipates three more transactions in the coming months. The Executive Board expects for 2017 a record year and sees Mutares well positioned for the achievement of the growth targets.