- WKN: A0SMSH
- ISIN: DE000A0SMSH2
- Land: Deutschland
Nachricht vom 13.06.2018 | 11:00
Mutares publishes audited Group figures - Record revenues and earnings for FY2017
DGAP-News: Mutares AG / Key word(s): Final Results
- Group EBITDA 2017 of approx. EUR 67 million, an increase of 33 percent over the previous year
- Preliminary figures confirmed, conversion to international accounting completed
- Consolidated financial statements based on IFRS for the first time
The 2017 financial year was marked by four acquisitions, including three add-on acquisitions and one platform acquisition, and six exits, including two exits with significant proceeds. The buy and build approach was successfully continued with two acquisitions for the STS Group (Automotive) and one acquisition for platform investment Balcke-Dürr (Engineering & Technology) which was only acquired in 2016. In addition, the acquisition of La Meusienne from French Aperam Group represents a new platform complementing the portfolio. The sale of Eupec Germany at the beginning of the year and in particular the sale of A+F at the end of the year generated significant revenues confirming the added value created by a successfully implemented consulting and transaction approach.
The definition of the five portfolio segments is currently being reviewed. The objective is that the portfolio segments correspond more closely to the operating focus of the Mutares Group to better incorporate the already existing emphasis on technology- and production-oriented business models. This step follows the soon exit of Artmadis (Consumer Goods & Logistics), a wholesaler of tableware and glasses, by means of a French "Redressement Judiciaire" procedure. After three profitable years, Artmadis experienced a significant decline in revenues and profitability in 2017 due to the termination of a main supplier's delivery contract in 2017. In the three previous years, Mutares had succeeded in improving Artmadis' revenues and leading it to profitability. Fruitful and effective measures included, for example, establishing an own purchasing office in Hong Kong and establishing own private labels. There will be no significant effects for the 2018 financial year. The company was included in the reported Group NAV as of December 31, 2017, at EUR 2.7 million.
Mutares invested significantly in the further development of the organization in 2017: The M&A and Operations teams have been expanded. In Milan, the Italian organization has established an additional location with its own office and local M&A team and is already showing an attractive transaction pipeline. In the UK, the founding process for another local Mutares organization has been launched. The sharpened investment focus on platform and add-on transactions unfolded its potential in the 2017 financial year, particularly at STS Group and Balcke-Dürr Group. The Management Board sees the growth opportunities sustainably strengthened by the further development of the organization and the profile of Mutares as a production-oriented, sustainable and active investor further sharpened.
With the (partial) exit of the STS Group, which was driven as a "dual track" process and which culminated in STS' IPO on June 1, 2018, Mutares has made a successful start into 2018. This transaction represents another milestone and shows that Mutares succeeds also in leading more complex and elaborate exit processes. The Management Board expects a total of at least three acquisitions for the full year 2018. Mutares is very well positioned both organizationally and financially for further acquisitions of platforms for the portfolio and of strategic add-ons for the existing investments.
The publication of Q1/2018 is planned for June 26, 2018. The Annual Report 2017 of the Mutares Group is available for download at www.mutares.de/investor-relations.
|Phone:||+49 (0)89-9292 776-0|
|Fax:||+49 (0)89-9292 776-22|
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt (Scale), Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|
GBC im Fokus
Aves One AG: kursziel deutlich angehoben
Die Aves One AG ist im Geschäftsjahr 2017 abermals dynamisch gewachsen. Der Umsatz stieg um fast 90 % auf über 53 Mio. EUR an. Der jetzt gemeldete Erwerb von umfangreichen Rail-Assets (VTG/Nacco-Deal) soll zu weiteren Steigerungen beitragen. Wir erwarten weiteres Wachstum von über 40% im laufenden Jahr sowie einen dynamischen Anstieg in den Folgejahren. Das Ziel von 1 Mrd. Assets und Managment könnte bereits 2019 und damit ein Jahr früher erreicht werden. Unsere Analysten sind vom VTG/Nacco-Deal überzeugt und haben das Kursziel deutlich auf 12,10 Euro erhöht (bisher 9,10 Euro).
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