Fifth acquisition in 2024: Mutares has signed an agreement to acquire FSL Ladenbau GmbH

  • Add-on acquisition to strengthen the Ganter Group with synergies within the range of customers and supply chain
  • Leading shopfitting provider with strong presence in Northern Germany
  • Revenues of ca. EUR 15 million planned in 2024
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Second exit in 2024: Mutares has successfully sold iinovis Group to Accursia Capital

Munich, May 8, 2024 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully sold its portfolio company iinovis Group to Accursia Capital. iinovis, headquartered in Munich, Germany, is a automotive and industrial engineering service provider. The company generated revenues of approx. EUR 33 million in 2023 and employs over 350 employees at four sites […]

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Promising start to the year: Mutares increases net income of the Holding in the first quarter of 2024 thanks to successful exit – expansion into the growth market India initiated

  • Revenues from consulting services and management fees of Mutares Holding grew by 8% to EUR 29.3 million in the first quarter of 2024 (previous year: EUR 27.1 million)
  • Net income of Mutares Holding reaches EUR 51.3 million in the first three months of 2024 (previous year: EUR 8.2 million), benefiting in particular from the exit of Frigoscandia
  • Group revenues increase by 21% to EUR 1,346.1 million (previous year: EUR 1,108.0 million), Adjusted EBITDA improves to EUR 14.0 million (previous year: EUR 5.1 million)
  • Successful tap issue of the bond with a volume of EUR 100 million in the first quarter of 2024
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Mutares has successfully completed the acquisition of a majority stake in Sofinter Group

  • Leading global provider of industrial and utility boilers with a strong positioning in the Heat Recovery Steam Generation (HRSG) segment
  • Significant synergies expected with other Mutares portfolio companies in the segment Engineering & Technology, including NEM Energy Group
  • Revenues of over EUR 200 million in 2023
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Fourth acquisition in 2024: Mutares has successfully completed the acquisition of Greenview Group Holdings Ltd from Cordovan Capital Management Ltd and its current management

  • New platform investment to strengthen the Goods & Services segment
  • Provider of mechanical, electrical, heating and sustainable energy solutions in the UK and Ireland
  • Revenues of approx. EUR 45 million expected in financial year to March 2025
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Mutares publishes annual report 2023: Net income of Mutares Holding increases to EUR 102.5 million – Further increase to between EUR 108 million and EUR 132 million expected for fiscal year 2024

  • Net income of Mutares Holding for fiscal year 2023 increases by 41% to EUR 102.5 million (previous year: EUR 72.9 million); Revenues of Mutares Holding grow by 46% to EUR 103.6 million (previous year: EUR 71.1 million)
  • Dividend planned to increase by 29% to EUR 2.25 per share for fiscal year 2023 (previous year: EUR 1.75)
  • Group revenues increase by 25% to EUR 4,689.1 million (previous year: EUR 3,751.7 million), Group EBITDA at EUR 756.9 million (previous year: EUR 181.5 million), boosted by effects from the transactions
  • Adjusted EBITDA of EUR 3.5 million (previous year: EUR -32.7 million) reflects the progress made in restructuring and developing the portfolio
  • Early refinancing and placement of a new senior secured floating rate bond with a current total volume of EUR 250 million
  • Forecast for the net income of Mutares Holding for the fiscal year 2024 of EUR 108 million to EUR 132 million with expected Group revenues of EUR 5.7 billion to EUR 6.3 billion
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Third acquisition in 2024: Mutares has signed an agreement to acquire Eltel Networks Energetyka S.A. and Eltel Networks Engineering S.A. from Eltel AB

  • First deal in Poland strengthening the Good & Services segment as a new platform
  • Leading providers of electrical power engineering & construction services in Poland
  • Revenues of approx. EUR 36 million in 2023
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Mutares with successful fiscal year 2023: Net income of Mutares Holding increases to EUR 102.5 million – dividend of EUR 2.25 per share planned

  • Net income of Mutares Holding for fiscal year 2023 increases by 41% to EUR 102.5 million (previous year: EUR 72.9 million); Revenues of Mutares Holding grow by 46% to EUR 103.6 million (previous year: EUR 71.1 million)
  • Dividend planned to increase by 29% to EUR 2.25 per share for fiscal year 2023 (previous year: EUR 1.75)
  • Group revenues increase by 25% to EUR 4,689.1 million (previous year: EUR 3,751.7 million), Group EBITDA at EUR 756.9 million (previous year: EUR 181.5 million), boosted by effects from the transactions
  • Adjusted EBITDA of EUR 3.5 million (previous year: EUR -32.7 million) reflects the progress made in restructuring and developing the portfolio
  • Early refinancing and placement of a new senior secured floating rate bond with a current total volume of EUR 250 million
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Second acquisition in 2024: Mutares has signed an agreement for the transfer of Magirus from Iveco Group

  • Well-known provider of vehicles, ladders and other products and related aftersales services in the firefighting and disaster control markets
  • New platform investment to strengthen the Goods & Services segment
  • Revenues over EUR 300 million
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Mutares has successfully sold its portfolio company Frigoscandia to Dachser

  • Successful turnaround and repositioning of Frigoscandia
  • Significant contribution to Mutares-Holding net income for fiscal year 2024
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