Mutares Se & Co. Kgaa · XETR:MUX
Mutares Se & Co. Kgaa — H1 2023 Earnings Presentation
22 slides from Mutares Se & Co. Kgaa's earnings presentation, Aug 10, 2023
Slide 1: Earnings Call H1 2023
Earnings Call H1 2023 August 10, 2023 1
Slide 2: Content
Content Company & Business Model Key Highlights of H1 2023 Financials of H1 2023 Outlook 2
Slide 3: Highly experienced and committed management team
Highly experienced and committed management team Management interests fully aligned with external shareholders (ca. 37% ownership) CEO ROBIN LAIK born in 1972, is founder, CEO and main shareholder of Mutares. He is responsible for strategy and business development. CIO CFO JOHANNES LAUMANN MARK FRIE
Slide 4: Strong corporate identity supported by financial performance
Strong corporate identity supported by financial peformance First choice for private equity carve-outs European focus, global expansion Mutares Group revenues and Holding net income ca. 7 bn Group Revenues (EUR) Holding Net Income (EUR, unconsolidated) ca. 4.8 - Portfolio growth drives 5.4 bn pred
Slide 5: ROIC target of 7-10x
ROIC target of 7-10x Creating successful turnarounds with our unique value creation life-cycle Value creation Harvesting Optimization Realignment Transformation to a profitable Investing in a successful company Acquisition Seller provides cash turnaround Taking calculated risk in loss- financing mak
Slide 6: Portfolio of currently 28 companies with annualized revenues of EUR > 5.5 billion
Portfolio of currently 28 companies with annualized revenues of EUR > 5.5 billion Well diversified portfolio across four segments Automotive & Engineering & Goods & Retail & Mobility Technology Services Food* early-cyclical late-cyclical non-cyclical cyclical ca. EUR 2.5 bn revenues ca. EUR 1.0 bn r
Slide 7: Ferr/Al United – newly founded Powerhouse with EUR > 1.3 billion in revenues
Ferr/Al United – newly founded Powerhouse with EUR > 1.3 billion in revenues under development Mutares forms FerrAl United with significant potential for future value appreciation Global partner for metallic components and systems for the automotive Annualized Revenues in 2024e: industry Automotive
Slide 8: Content
Content Company & Business Model Key Highlights of H1 2023 Financials of H1 2023 Outlook 8
Slide 9: Key Highlights of H1 2023
Key Highlights of H1 2023 Development well on track with focus on exits and global expansion Buy-side Transactions Sell-side Transactions Signing Closing FRANCE *) Capital Market People Bond EUR 150 million > 200 (Holding) Bond 2023/2027 > 27,000 (Group) Share + 38.6% (01.01.2023 – 30.06.2023) Expan
Slide 10: Content
Content Company & Business Model Key Highlights of H1 2023 Financials of H1 2023 Outlook 10
Slide 11: Key financials for Mutares Group and Mutares Holding of H1 2023
Key financials for Mutares Group and Mutares Holding of H1 2023 Positive Adjusted EBITDA shows progress in transformations EUR million Q1 2023 Q2 2023 H1 2023 H1 2022 Δ 2023e Mutares Group Revenues 1,108.0 1,165.6 2,273.6 1,754.6 519.0 4,800 - 5,400 EBITDA 112.4 293.0 405.4 66.0 339.4 Adjusted EBITD
Slide 12: Segment Financials: Overview
Segment Financials: Overview Strong development especially in Q2 2023 with positive Adjusted EBITDA across all segments EUR million Q1 2023 Q2 2023 H1 2023 H1 2022 Δ Automotive & Mobility Revenues 448.7 483.3 932.0 457.5 474.5 Adjusted EBITDA -6.9 18.4 11.5 -36.5 48.0 Engineering & Technology Revenu
Slide 13: Segment Financials: Automotive & Mobility
Segment Financials: Automotive & Mobility Substantial improvement in Adjusted EBITDA in light of successful transformation and improved market environment Revenue Bridge 932.0 433.0 457.5 41.4 EUR million Q1 2023 Q2 2023 H1 2023 H1 2022 Δ Revenues 448.7 483.3 932.0 457.5 474.5 H1 2022 Organic M&A ac
Slide 14: Segment Financials: Engineering & Technology
Segment Financials: Engineering & Technology SMP, La Rochette and Clecim with substantial progress, low activity in construction business Revenue Bridge 551.2 -16.4 -40.4 494.4 EUR million Q1 2023 Q2 2023 H1 2023 H1 2022 Δ Revenues 263.1 231.3 494.4 551.2 -56.8 H1 2022 Organic M&A activity H1 2023 C
Slide 15: Segment Financials: Goods & Services
Segment Financials: Goods & Services Progress in transformation programs across the segment leads to turnaround in Adjusted EBITDA Revenue Bridge 848.7 746.8 88.3 13.6 EUR million Q1 2023 Q2 2023 H1 2023 H1 2022 Δ Revenues 396.7 452.0 848.7 746.8 101.9 H1 2022 Organic M&A activity H1 2023 Cost of ma
Slide 16: Current Portfolio allocation to the value creation life cycle
Current Portfolio allocation to the value creation life cycle Diversified portfolio in Realignment, Optimization and Harvesting phases As of August 2023 Revenues Adj. EBITDA (H1 2023, EURm) (H1 2023, EURm) 24.8 Harvesting 17.1 +5.9% (Adj. EBITDA/ **) 423.7 Revenues) 7.7 237.1 186.6 Q1 Q2 H1 Q1 Q2 H1
Slide 17: Content
Content Company & Business Model Key Highlights of H1 2023 Financials of H1 2023 Outlook 17
Slide 18: Mutares China at a glance
Mutares China at a glance Expansion to China as starting point to explore global opportunities and foster further growth Shanghai Office opened in August 2023 • Great opportunities to explore in China • Important market and trade partner for our portfolio companies 4 Portfolio Companies • Government
Slide 19: 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 2022 EUR 3.8 bn EUR 73 m Helsinki Stockholm 2023 EUR 4.8 – 5.4 bn EUR 92 – 112 m London Warsaw Amsterdam Fran
Slide 20: Save the Date: Capital Markets Day 2023
SAVE THE DATE CAPITAL MARKETS DAY 2023 October 12, 2023 Frankfurt am Main, Fifty Heights / virtually Agenda: 1. Mutares Introduction 2. Portfolio Insights 3. Mutares Outlook 4. Get Together & Networking Registration via ir@mutares.com 20
Slide 21: 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. 21
Slide 22: This document has been prepared by Mutares SE & Co. KGaA solely for the use in this presentation
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 on, the fai
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