The Mutares investment company surprisingly implemented and deserved in the past financial year.
The revenues had climbed by 12 percent to 5.26 billion euros compared to the previous year, the company surprisingly said in Munich on Monday evening. The result before interest, taxes and depreciation (EBITDA) fell from around 757 million euros in 2023 to around 117 million euros. Analysts had expected more from both indicators.
In particular for influences from changes in the portfolio, Mutares slipped into the red figures after an increase of 3.5 million euros in the previous year. The positive effects from successfully implemented operational restructuring programs within the portfolio of opposite effects from the acquisition of deficit participations and the effects of the weak overall economic development were overlaid.
In a first reaction on the trading platform Tradegate, the mutares share decreased by up to 14 percent compared to the Xetra closing. Finally, the paper was able to reduce the minus a bit. One reason for the decline should have played the announced shift of the tested annual and group financial statements. This is essentially necessary due to an increased examination and documentation effort due to complex special content. Because of the shift, the general meeting will also take place at a later date.
On the other hand, mutares now wants to deliver faster when submitting the quarterly figures. These are to be presented on Tuesday (April 29).
Portfolio conversion gives mutares significantly more operational profit at the start of the year
Thanks to a lively portfolio conversion, the Mutares investment company started the new year with more proceeds and a leap in profits. The group’s sales in the first quarter climbed by around 13 percent to a good 1.5 billion euros, the company said in Munich on Tuesday. The result before interest, taxes and depreciation (EBITDA) rapidly to almost 380 million euros after 66.1 million euros had been generated here last year.
The operational code is regularly influenced by transaction -related factors, such as the favorable acquisition of companies as well as deconsolidation effects, it continued. Mutares had taken over several companies in the first quarter, including the Buderus stainless steel and the SMA metal technology. At the same time, the group prepared the – took place – in April – to the Austrian engine manufacturer Steyr, who ultimately brought in millions. The bottom line was that the group result rose to just under 248 million euros in the first quarter, and a year earlier the group had made almost 55 million euros in loss.
Mutares had surprisingly presented his years for 2024 the evening before, which, however, were worse than expected. At the same time, the investment company had announced a shift in the tested annual and group financial statements and justified this with an increased examination effort due to complex facts.
Munich (dpa-Afx)
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