Mutares Se & Co. Kgaa · XETR:MUX
Mutares Se & Co. Kgaa — H1 2025 Earnings Presentation
20 slides from Mutares Se & Co. Kgaa's earnings presentation, Aug 12, 2025
Slide 1: Global Private Equity Special Situations Investor – H1 2025 Earnings Call
Global Private Equity Special Situations Investor H1 2025 Earnings Call August 12, 2025
Slide 2: Agenda
Agenda 1 Business Model 2 H1 2025 Financials 3 Portfolio Update 4 Outlook 2
Slide 3: Purpose: Who we are
Purpose: Who we are Management Board of Mutares Management SE OUR MISSION OUR VALUES CEO & Founder Robin Laik is responsible for strategy and Transform distressed companies Entrepreneurship business development. Personal Integrity CIO Johannes Laumann is responsible for M&A and Investor Relations. C
Slide 4: Investment highlights
Asia North America Investment highlights Tokyo Chicago Mumbai Shanghai Global leader in distressed carve-outs Helsinki Stockholm Turnaround distressed carve-out assets London Amsterdam Warsaw Frankfurt Four balanced and Paris Munich (HQ) diversified segments Vienna Milan Alignment of Madrid sharehol
Slide 5: Operating model with ROIC target of 7-10x through entire life cycle
Operating model Acquisition Realignment with ROIC target Calculated risk taken in loss-making Cash financing provided by the seller of 7-10x through companies entire life cycle Investments of approx. Recurring Holding revenues EUR 50m p.a. from consulting fees resulting in approx. EUR 100m Holding r
Slide 6: Agenda
Agenda 1 Business Model 2 H1 2025 Financials 3 Portfolio Update 4 Outlook 6
Slide 7: Holding Key financials
Key financials Revenues EBITDA Adjusted EBITDA of Mutares Group and EUR 3.1bn EUR 598.2m EUR -88.5m Holding in H1 2025 in H1 2025 in H1 2025 Group (EUR 2.6bn in H1 2024) (EUR 71.6m in H1 2024) (EUR 15.7m in H1 2024) Acquisition Acquisition Realignment/Optimization Positive impact through buy-side Po
Slide 8: Segment development reflects global challenges
Segment development reflects global challenges OEMs with short-term cancellations, H1 2025 H1 2024 postponements of call-offs, and delays in production starts of new series Automotive & Mobility Focus on consolidation of the two large Revenues 1,229.3 1,139.7 groups (Amaneos and FerrAl United) w
Slide 9: Well diversified portfolio across lifecycle stages as of June 30, 2025
Well diversified portfolio across lifecycle stages as of June 30, 2025 Revenues (EURm)1) Adj. EBITDA (EURm)1) H1 2025 H1 2024 H1 2025 H1 2024 870.9 38.6 Harvesting 17.5 327.4 Optimization 1,907.5 17.4 1,216.0 Realignment 1,020.4 -17.2 -35.1 Acquisition 376.2 -111.0 Holding period approx. 3-5 years 1
Slide 10: Agenda
Agenda 1 Business Model 2 H1 2025 Financials 3 Portfolio Update 4 Outlook 10
Slide 11: New segmentation with well diversified portfolio with annualized revenues of EUR >7 bn
New segmentation with well diversified portfolio with annualized revenues of EUR >7 bn Automotive & 4 Engineering & 10 Mobility Companies Technology Companies Early cyclical, Late cyclical, annualized rev. EUR ~2.8 bn annualized rev. EUR ~1.5 bn Infrastructure & 7 Goods & 12 Special Industry Compani
Slide 12: Automotive & Mobility portfolio allocation
Automotive & Mobility portfolio allocation Early-cyclical business Harvesting 1 Optimization 2 annualized rev. EUR ~2.8 bn Realignment The portfolio companies in the Automotive & Mobility segment — our early-cyclical business — operate worldwide and supply renowned international original equipment m
Slide 13: Engineering & Technology portfolio allocation
Engineering & Technology portfolio allocation Late-cyclical business Harvesting Optimization annualized rev. EUR ~1.5 bn Realignment The portfolio companies in the Engineering & Technology segment – our late-cyclical business – focus on sophisticated solutions in plant and machine engineering and re
Slide 14: Infrastructure & Special Industry portfolio allocation
Infrastructure & Special Industry portfolio allocation Non-cyclical business Harvesting Optimization annualized rev. EUR ~1.4 bn Realignment The portfolio companies in the Infrastructure & Special Industry segment – our non-cyclical business – operate in the field of critical infrastructure and solu
Slide 15: Goods & Services portfolio allocation
Goods & Services portfolio allocation Non-cyclical business Harvesting Optimization annualized rev. EUR ~1.6 bn Realignment The portfolio companies in the Goods & Services segment – our non-cyclical business – offer specialized products and services to customers in various industries, some with a fo
Slide 16: Presented by CEO Fatmir Veselaj
Presented by CEO Fatmir Veselaj 16
Slide 17: Agenda
Agenda 1 Business Model 2 H1 2025 Financials 3 Portfolio Update 4 Outlook 17
Slide 18: Outlook
Transaction activity Holding Group Further expansion accompanied by a Guidance: Guidance: reduction in average investments per Net Income of Revenues: EUR 6,5 – 7,5 bn transaction to approximately EUR 3 EUR 130 – 160 m EBITDA: clearly positive level million Adj. EBITDA: extraordinary
Slide 19: Thank you for your participation!
Thank you for your participation! 19
Slide 20: Mutares SE & Co. KGaA
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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