Mutares Se & Co. Kgaa · XETR:MUX
Mutares Se & Co. Kgaa — Q3 2022 Earnings Presentation
25 slides from Mutares Se & Co. Kgaa's earnings presentation, Nov 8, 2022
Slide 1: Conference Call Q3 2022
Conference Call Q3 2022 8th November 2022
Slide 2: Disclaimer
Disclaimer This document has been prepared by Mutares SE & Co. KGaA solely for the use in this presentation. The information contained in this document has not been independently verified. No representation or warranty - whether expressed or implied – is made as to, and no reliance should be placed
Slide 3: Agenda
Agenda Introduction & Key Highlights Company & Business Model Financials Outlook 3
Slide 4: Mutares' Experienced and Highly Committed Management Team
Mutares´ Experienced and Highly Committed Management Team Management team is the foundation of the successful business and has proven track record Shareholder structure underlines management commitment CIO JOHANNES LAUMANN Mutares Management are born in 1983, joined Mutares in 2016. In 2019, he sing
Slide 5: Key Developments of Q3 2022
Key Developments of Q3 2022 High transaction activity and rising acquisition opportunities due to difficult environment Transactions Buy-side Transactions Sell-side Portfolio Development *) *) France *) *) *) *) Capital Market People Growth Group Revenues (EUR) Holding Net Income (EUR, unconsolidate
Slide 6: Agenda
Agenda Introduction & Key Highlights Company & Business Model Financials Outlook 6
Slide 7: Turnaround Hero with Clear Identity and Strong Achievements
Turnaround Hero with Clear Identity and Strong Achievements First in mind and first in choice when it comes to unrivaled private equity carve outs 2021 2022 2025 EUROPEAN Guidance Target FOCUS ca. ca. Group Revenues EUR 2.5 bn EUR 4.0 bn EUR 7.0 bn THREE DIVERSIFIED EUR EUR SEGMENTS Holding Net Inco
Slide 8: Strong M&A Pipeline as Backbone to Deliver Strong Returns
Strong M&A Pipeline as Backbone to Deliver Strong Returns Local deal sourcing secures transactions flow and fostering growth Filled M&A pipeline driven by excellent deal access Mutares benefits from a strong reputation as trusted buyer ~4,800 ~400 State-backed enterprises (sellers to and buyers from
Slide 9: Unique Value Creation Life Cycle with ROIC Target of 7-10x
Unique Value Creation Life Cycle with ROIC Target of 7-10x Taking calculated risks and turning losses into opportunities, ultimately creating successful turnarounds Value creation steps Harvesting Optimization Turnaround & profit from a profitable company Realignment Investing in a successful turnar
Slide 10: Harvesting Portfolio Companies Support the Upside Potential for Special Dividends
Harvesting Portfolio Companies Support the Upside Potential for Special Dividends Examples of Mutares investment return generated through the entire lifecycle Acquisition Revenue Development EBITDA Development ROIC since acquisition since acquisition since acquisition 2020 >+60% EUR > +10m >7 >10 20
Slide 11: Mutares Follows a Comprehensive ESG Group Policy
Mutares Follows a Comprehensive ESG Group Policy, Developed with External Advisors ESG Group guidance for KPI’s to track and report in accordance with UNSDGs Signatory since 2021 2021 highlight 2021 highlight 2021 highlight Environment Social 2021 highlight Governance 2021 highlight 74% 0 21% 0 wome
Slide 12: Mutares Portfolio has Grown to 32 Companies
Mutares Portfolio has Grown to 32 Companies with Annualized Revenues of ca. EUR 5 bn Operational team with hands-on mentality and entrepreneurial mindset delivers results Automotive & Mobility Engineering & Technology Goods & Services signed, not yet closed 12
Slide 13: Agenda
Agenda Introduction & Key Highlights Company & Business Model Financials Outlook 13
Slide 14: Mutares' Experienced and Highly Committed Management Team
Mutares´ Experienced and Highly Committed Management Team Management team is the foundation of the successful business and has proven track record CFO MARK FRIEDRICH born in 1978, has been with Mutares since 2012. In 2015, he took over the CFO position. He is a certified tax advisor and auditor and
Slide 15: Key Financial Data for Mutares Group and Mutares Holding for Q3 2022
Key Financial Data for Mutares Group and Mutares Holding for Q3 2022 Group revenues increase by >50% to EUR 2.7 bn, Portfolio Income of Mutares Holding on track Q3 2022 Q3 2021 mEUR Q1 2022 Q2 2022 Q3 2022 Δ 2022e YTD YTD Mutares Group Revenues 852.5 902.1 923.0 2,677.6 1,762.7 914.9 ca. 4,000 EBITD
Slide 16: Segment Financials: Overview
Segment Financials: Overview Recovery in Q2+Q3 after weak Q1, Q3 with summer breaks traditionally weaker and environment for Automotive & Mobility continues to be challenging Comments Q3 2022 Q3 2021 mEUR Q1 2022 Q2 2022 Q3 2022 Δ YTD YTD Automotive & Mobility: Automotive & Mobility Declining volu
Slide 17: Segment Financials: Automotive & Mobility
Segment Financials: Automotive & Mobility Volume recoveries in Q3 but still challenging environment in light of industry headwinds Revenue Bridge 3.4 195.6 707.8 508.8 Q3 2022 Q3 2021 mEUR Q1 2022 Q2 2022 Q3 2022 YTD YTD Q3 2021 Organic M&A activity Q3 2022 Revenues 234.1 223.4 250.3 707.8 508.8 C
Slide 18: Segment Financials: Engineering & Technology
Segment Financials: Engineering & Technology Traditionally weak performance in Q1 compensated by recovery in Q2+Q3 Revenue Bridge Q3 2022 Q3 2021 mEUR Q1 2022 Q2 2022 Q3 2022 YTD YTD Revenues 243.4 307.8 329.1 880.3 650.1 Comments Cost of material -162.0 -209.9 -233.2 -605.1 -451.0 Personnel expense
Slide 19: Segment Financials: Goods & Services
Segment Financials: Goods & Services Broad range of business models lead to stabilized performance Revenue Bridge Q3 2022 Q3 2021 mEUR Q1 2022 Q2 2022 Q3 2022 YTD YTD Revenues 375.1 371.7 344.3 1,091.1 603.3 Comments Cost of material -229.2 -220.4 -202.0 -651.6 -357.1 Personnel expenses -91.4 -88.6
Slide 20: Value Creation Life Cycle: Realignment, Optimization and Harvesting
Value Creation Life Cycle: Realignment, Optimization and Harvesting Diversified portfolio along the life cycle stages of the value creation approach Revenues Adj. EBITDA FY 2022 (EURm) FY 2022 (EURm) Harvesting Harvesting 34.1 751.6 245.2 249.7 256.8 +4.5% (Adj. EBITDA/ 14.9 12.9 Revenues) 6.3 Optim
Slide 21: Agenda
Agenda Introduction & Key Highlights Company & Business Model Financials Outlook 21
Slide 22: Delivering Sustainable Growth and Increasing the Attractiveness of the Mutares Share
Delivering Sustainable Growth and Increasing the Attractiveness of the Mutares Share We deliver what we promise Transaction Buyside: Transaction Sellside: "We have already made 12 Acquisitions "With Nordec Group OY we have already in 2022 and for the next months will made the second largest exit in
Slide 23: We Deliver What We Promise
We Deliver What We Promise Mutares is the top player when it comes to carve-outs, restructuring and turnaround with ambitious growth targets Revenues Net Income Mutares Group Mutares Holding 2021 EUR 2.5 bn EUR 51 m Helsinki 2022 ca. EUR 4.0 bn EUR 72 – 88 m Stockholm Amsterdam London Warsaw Frankfu
Slide 24: Q&A
Q&A Thank you for your questions. If you want to ask a question, please register in the contact section in the webcast to receive the telephone dial ins. Please mute yourself on the webcast. 25
Slide 25: MUTARES
MUTARES
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