Mutares SE & Co. KGaA: Annual General Meeting resolves dividend of EUR 1.75 per share – basis laid for another record year

  • Increased dividend of EUR 1.75 per share approved
  • High approval of all agenda items
  • New growth drivers from new segment and global expansion
  • Forecast for the full year 2023 confirmed

Munich, 10 July 2023 – Today, the Annual General Meeting of Mutares SE & Co. KGaA (ISIN: DE000A2NB650) adopted the proposal of the Management Board and Supervisory Board and approved an increased dividend of EUR 1.75 per share (previous year: EUR 1.50 per share) for the financial year 2022. This consists of a basic dividend of EUR 1.00 per share and a performance dividend of EUR 0.75 per share. Therefore, taking into account treasury shares, a total of approximately EUR 36.1 million (previous year: EUR 30.9 million) will be distributed from the retained earnings of Mutares SE & Co. KGaA. The resolution on the appropriation of profits thus corresponds to the dividend proposal adjusted by the Management Board and Supervisory Board in the ad hoc announcement of 6 July 2023, in conjunction with a correspondingly submitted countermotion on the appropriation of profits.

The members of the Management Board, Supervisory Board and Shareholders’ Committee were discharged by the shareholders for the past financial year. The voting attendance at the Annual General Meeting was 46.71%.

In their presentation, the Management Board members Robin Laik (CEO) and Johannes Laumann (CIO) looked back on a successful financial year 2022, which was again characterized by high transaction activity with 14 acquisitions and six exits. Looking ahead to the current financial year, the two Management Board members focused their remarks on the successful early refinancing of the bond, including the bond increase for further portfolio development. They also highlighted the four exits already successfully realized in the current year and, in particular, the pending sale of Special Melted Products (SMP), which is expected to be completed in the third quarter. With a net cash inflow of up to EUR 150 million, this would be the most successful deal in the company’s history. The further exit pipeline is well filled with nine candidates.

In their presentation, the two Management Board members made it clear that Mutares is strongly focused on further growth. Further initiatives have already been launched for this purpose. The immediate growth drivers result from the already existing project pipeline, which currently comprises about 118 projects with a sales potential of EUR 14.4 billion. In addition, Mutares is tapping new potential by opening new locations. For example, international expansion to China and the USA is planned with offices in Shanghai and Chicago. An additional boost to growth will be provided by the expansion of the previously three segments Automotive & Mobility, Engineering & Technology and Goods & Services by a fourth segment Retail & Food. With the acquisition of Gläserne Molkerei in July together with Lapeyre, keeeper and SABO, this newly formed segment already accounts for around EUR 0.9 billion in revenues.

Johannes Laumann, CIO of Mutares, comments: “In the current year, we will take the leap across the pond and also enter the Asian market. Our communicated medium-term targets, which foresee consolidated revenues of approximately EUR 7 billion by 2025, are only an intermediate stage in the growth of Mutares. There is still a lot for us to do and to gain.”

Against this backdrop of extensive opportunities, the Management remained optimistic. Assuming the successful completion of the SMP exit, the Management Board confirmed the outlook communicated for the financial year 2023, which forecasts consolidated revenues of EUR 4.8 billion to EUR 5.4 billion for Mutares Group and net income of EUR 92 million to EUR 112 million for Mutares Holding.

Robin Laik, CEO of Mutares, commented: “I am pleased that, despite a challenging year in 2022, we will be able to enable our shareholders to participate in the successes we have promised and achieved by paying a higher dividend. I would like to add to this the promise that we, as Management, will stick to the growth course we have embarked upon in order to take maximum advantage of the extensive expansion opportunities available to us for the benefit of the Company and its shareholders. At the same time, I would like to thank the entire Mutares team, whose entrepreneurial vision, unconditional winning mindset and absolute down-to-earth attitude have been crucial factors in our growth and our past and future successes.”

All resolutions proposed under the agenda items received clear approval at the Annual General Meeting. Further information on the Annual General Meeting 2023 and the detailed voting results will be available shortly on the company website in the Investor Relations section.