Mutares releases NAV for the half year of 2017

Mutares AG (ISIN: DE000A0SMSH2) has released a NAV of EUR 319.4m after the first half of 2017. The main driver was the “Automotive” segment.

Mutares will release the NAV of its portfolio on a quarterly basis in order to increase transparency. The strongest driver for the NAV has been the “Automotive” segment, which benefitted considerably from the acquisition of Plastic Omnium’s truck supply business along with strong organic growth. The slight setback in the “Engineering & Technology” segment was triggered by Geesinknorba, for which there has been no further value considered. As already stated following the sale of Grosbill, in the future Mutares will concentrate on business models that are built on strong engineering and development competencies as well as on a differentiation through proprietary production systems.

Segment	NAV as of June 30, 2017 (in mEUR)
Automotive	144.0
Wood & Paper	40.0
Construction & Infrastructure	43.0
Engineering & Technology	60.5
Consumer Goods & Logistics	14.0
Cash at holding	17.9
Total	319.4

Due to the sustained attractive transaction pipeline, the Board expects more acquisitions in the coming months. The Board sees Mutares well set for reaching its growth targets.