Mutares Se & Co. Kgaa · XETR:MUX

Mutares Se & Co. Kgaa — Q4 2023 Earnings Presentation

22 slides from Mutares Se & Co. Kgaa's earnings presentation, Apr 11, 2023

  1. Slide 1: Earnings Call FY 2023

    Earnings Call FY 2023 April 11th, 2024

  2. Slide 2: Company & Business Model; Key Highlights; Financials; Outlook

    Company & Business Model Key Highlights of FY 2023 Financials of FY 2023 Outlook 2

  3. Slide 3: Business marked by outstanding growth and momentum, sustainable value creation and turnaround success

    Business marked by outstanding growth and momentum, sustainable value creation and turnaround success European Focus, with Four Diversified Helsinki Global Expansion Segments Stockholm London Amsterdam Warsaw Frankfurt Paris Vienna Munich (HQ) Milan Target Company Size Turnaround Madrid EUR 100-750

  4. Slide 4: Strong financial performance, with direct performance contribution resulting in strong shareholder returns

    Strong financial performance, with direct performance contribution resulting in strong shareholder returns Both Mutares Group revenue and Holding net income with Strong financial performance continues to translate into strong historical growth that is expected to continue sizeable and sustained shar

  5. Slide 5: ROIC target of 7-10x through successful turnarounds with our unique value creation lifecycle

    ROIC target of 7-10x through successful turnarounds with our unique value creation lifecycle Mutares value creation lifecycle (avg. holding period 3-5 years) Acquisition Realignment Optimization Harvesting Calculated risk taken in loss- Cash financing provided by Investment in a successful Transform

  6. Slide 6: Well diversified portfolio with 31 companies across four segments

    Well diversified portfolio with 31 companies across fours segments, with annualized revenues of EUR ~6 billion Automotive & Engineering & Goods & Retail & Mobility Technology Services Food Early cyclical, Late cyclical, Non-cyclical, Cyclical, annual rev. EUR ~2.5 bn annual rev. EUR ~1.2 bn annual r

  7. Slide 7: Company & Business Model; Key Highlights of FY 2023

    Company & Business Model Key Highlights of FY 2023 PMTC, MMTB, NEM, Palmia oder Frigo Financials of FY 2023 Outlook 7

  8. Slide 8: Key FY 2023 highlights include high transaction activity with focus on sell-side and expansion

    Key FY 2023 highlights include high transaction activity with focus on sell-side and expansion of the international footprint Buy-side with record deal volume activity of 16 acquisitions Sell-side with largest exits ever in Company’s history FRANCE Capital market milestones reached for both share an

  9. Slide 9: Engineering player with short-term revenue growth potential to ~EUR 300 million

    Engineering player with short-term revenue growth potential to ~EUR 300 million, with production ramp-up successfully initiated and cost-realignment on track Leading Portuguese player in the Energy sector Revenues (EUR million) Energy Established in 1948, Efacec is a Portuguese integrated engineerin

  10. Slide 10: Company & Business Model; Key Highlights; Financials of FY 2023

    Company & Business Model Key Highlights of FY 2023 Financials of FY 2023 Outlook 10

  11. Slide 11: Consolidated results for 2023 show net income of Mutares Holding benefiting from SMP exit

    Consolidated results for 2023 show net income of Mutares Holding benefiting in particular from exit of Special Melted Products (“SMP”) Key financials (EUR million) FY 2021 FY 2022 FY 2023 Δ (FY 2023-22) FY 2024e Mutares Group Revenues 2,504.0 3,751.7 4,689.1 937.4 5,700 – 6,300 EBITDA 566.5 181.5 75

  12. Slide 12: Segment financial overview reveals a positive Adjusted EBITDA for Group

    Segment financial overview reveals a positive Adjusted EBITDA for Group EUR million Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 FY 2022 Δ Automotive & Mobility Revenues 448.7 483.3 425.1 521.2 1,878.3 1,081.6 796.7 Adjusted EBITDA -6.9 18.4 -10.7 2.5 3.3 -49.0 52.3 Engineering & Technology Revenues 263.

  13. Slide 13: Automotive & Mobility: Improvements in profitability due to successful transformation

    Automotive & Mobility: Improvements in profitability due to successful transformation and improved (but still challenging) environment Revenue bridge (EUR million) EUR million FY 2023 FY 2022 Δ 1,878.3 742.8 Revenues 1,878.3 1,081.6 796.7 1,081.6 53.9 Cost of material -1,171.0 -706.3 -464.7 2022 Org

  14. Slide 14: Engineering & Technology: Successful exit of profitable SMP leads to decrease in revenues

    Engineering & Technology: Successful exit of profitable SMP leads to decrease in revenues and profitability Revenue bridge (EUR million) EUR million FY 2023 FY 2022 Δ 1,176.0 -17.9 Revenues 933.9 1,176.0 -242.1 -224.2 933.9 Cost of material -653.2 -813.9 160.7 Personnel expenses -209.7 -208.3 -1.4 2

  15. Slide 15: Goods & Services: Positive trend in the profitability leading to further increase in Adjusted EBITDA

    Goods & Services1): Positive trend in the profitability leading to further increase in Adjusted EBITDA Revenue bridge (EUR million) EUR million FY 2023 FY 2022 Δ 1,037.1 Revenues 1,037.1 676.2 360.9 350.9 676.2 10.0 Cost of material -535.5 -438.8 -96.7 Personnel expenses -368.8 -162.8 -206.0 2022 Or

  16. Slide 16: Retail & Food: Newly formed segment with pleasant buy-side activity

    Retail & Food1): Newly formed segment with pleasant buy-side activity Revenue bridge (EUR million) EUR million FY 2023 FY 2022 Δ 817.9 840.0 -22.9 45.0 Revenues 840.0 817.9 22.1 Cost of material -439.8 -439.5 -0.3 Personnel expenses -190.4 -190.0 -0.4 2022 Organic M&A activity 2023  The decline in

  17. Slide 17: Current portfolio allocation well diversified across value creation life cycle

    Current portfolio allocation well diversified across value creation life cycle Stage in value creation lifecycle (Dec 2023) Revenues (EURm) Adj. EBITDA (EURm) FY 2023 FY 2022 FY 2023 FY 2022 Harvesting 45 49 964 726 +6.5% (Adj. EBITDA/ 1) Revenues) 1.733 Optimization 1.280 0.9% (Adj. EBITDA/ Revenue

  18. Slide 18: Company & Business Model; Key Highlights; Financials; Outlook

    Company & Business Model Key Highlights of FY 2023 Financials of FY 2023 Outlook 19

  19. Slide 19: Investment summary

    Investment summary Attractive access to the private equity market Successful track record & proven industry knowledge Attractive dividend strategy Focus on growth High transparency Strong share and bond performance Family and owner managed company Sustainability oriented 20

  20. Slide 20: We delivered what we promise and will continue the growth path towards 2028

    We delivered what we promise and will continue the growth path towards 2028 Revenues Net Income Updated dividend strategy: Mutares Group Mutares Holding Minimum dividend of EUR 2.00 per share and fiscal year 2023 EUR 4.7 bn EUR 103 m Minimum dividend EUR 2.00 (Prev. EUR 1.00) 2024 EUR 5.7 – 6.3 bn E

  21. 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. 22

  22. 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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