The Mutares Group (ISIN: DE000A0SMSH2) continued its growth track in the first nine months of 2017. The Group’s revenues increased significantly by 42 percent to EUR 668.6m and its operating earnings (EBITDA) rose by 75 percent to EUR 17.9m. The strong results are reflected by a further increase of NAV to EUR 322.0m.
During the first nine months of 2017, revenues of the Mutares Group increased significantly by 42 percent to EUR 668.6m (2016: 470.3m). Besides growth from acquisitions, the key drivers have been the organic growth at Zanders, Elastomer Solutions, and A+F.
The Group’s operating earnings (EBITDA) likewise rose significantly by 75 percent to EUR 17.9m (2016: EUR 10.2m). The portfolio companies Zanders, Elastomer Solutions, and A+F have particularly stood out in the past nine months.
NAV as of Sept 30, 2017
Since the beginning of the year, NAV grew from EUR 307.9m by 4.6 percent to EUR 322.0m. The management expects further growth in Q4 2017.
|Engineering & Technology||62.4|
|Construction & Infrastructure||43.0|
|Wood & Paper||40.5|
|Consumer Goods & Logistics||12.0|
|Cash at Holding||15.1|
Main drivers for the positive development of NAV have been the progressing integration of the STS Group and therefore the realized synergies as well as the accomplished milestones in the repositioning of Balcke-Dürr.