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Increased guidance until 2023 with target of EUR 5 billion for Group revenues and possible uplisting to the regulated market (Prime Standard)

  • Increased guidance until 2023 with target of EUR 5 billion for Group revenues
  • Mutares sees itself in a unique market environment and is exploring options to further accelerate growth, including a capital increase combined with an uplisting to the regulated market (Prime Standard)

 

Munich, 7 September 2021 – The management board of the general partner (“Management Board“) of Mutares SE & Co. KGaA (ISIN: DE000A2NB650) (“Mutares” and, together with its consolidated subsidiaries, “Group“) has decided today to significantly increase the previous guidance for the revenues of the Group. Based on a high transaction activity in financial year 2021 with already twelve completed and signed acquisitions, the Management Board expects a significant increase in Group revenues to at least EUR 2.4 billion in financial year 2021, representing growth of more than 50% compared to the figure of financial year 2020 of approximately EUR 1.6 billion. The expected revenue growth will be driven by all segments.

 

This guidance is subject to certain imponderables in connection with the further development of the COVID-19 pandemic and, as a result, in particular the supply situation for raw materials and precursors. Given limited capacities, the high demand results in the possibility that the supply situation within the supply chains could tighten further in the second half of the year. Although Mutares has taken precautionary measures in the portfolio companies, there is a risk of supply bottlenecks for individual portfolio companies in the event of a further tightening. The Management Board continues to expect that a dividend at least at the level of the market expectation is also ensured for the financial year 2021, in particular through successful exits.

 

In view of the opportunities arising, the Management Board is also increasing the medium-term Group revenue target for the financial year 2023 from the previous EUR 3 billion to at least EUR 5 billion. The stated aim is to achieve a net income of Mutares at Holding level of 1.8 % – 2.2 % of Group revenues in the medium to long term.

 

The Management Board also sees the current market situation as a unique opportunity to further accelerate the successful growth path. The pace of transaction activities set in recent months is therefore to be increased further and new markets such as BeNeLux or Poland are to be developed more quickly. Therefore, the Management Board is currently also examining various options for financing further strategic growth, including a capital increase with subscription rights combined with an uplisting to the regulated market of the Frankfurt Stock Exchange (Prime Standard). Mutares will make final decisions at a later date, depending on the market and other conditions.

 

Mutares will also publish its financial figures for the first half of 2021 today.