Mutares Se & Co. Kgaa · XETR:MUX
Mutares Se & Co. Kgaa — FY 2020 Earnings Presentation
20 slides from Mutares Se & Co. Kgaa's earnings presentation, Apr 8, 2021
Slide 1: Earnings Call FY 2020
Earnings Call FY 2020 Munich, 8 April 2021
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: Speakers
Speakers Management Board Johannes Laumann Mark Friedrich CIO CFO 3
Slide 4: Agenda
Agenda 1 Business Model 2 Development 3 Financials 4 Outlook 4
Slide 5: Mutares Guidance & Investment Strategy
1 Business Model Mutares Guidance & Investment Strategy Long term value creation across European special situations 1) Grow consolidated group revenues to EUR 3.0bn by 2023 2) Increase holding revenue to EUR 100m and profit to EUR >60m by 2023 3) Deliver uncorrelated sector leading investment return
Slide 6: Mutares is a reliable partner, entrepreneur and investor
1 Business Model Mutares is a reliable partner, entrepreneur and investor Actively driven turnaround process in our companies through board & operations Turnaround Local Function & Mid-sized Solid Integrated hero approach & industry- companies dividend ESG criteria global specific task capacity bene
Slide 7: Trackrecord – superior success achieved in the last 24 months
2 Development Trackrecord – superior success achieved in the last 24 months Aiming to be the leading European Turnaround Private Equity Investor Acquisitions 21 Companies Exits 7 Companies Revenues* +1,9bn EUR Employees* +9.600 FTE Employees Offices +200% Market Cap +221% 7 *) based on acquisitions
Slide 8: Portfolio – European transaction focus with global operational footprint
2 Development Portfolio – European transaction focus with global operational footprint 24 Companies – high transaction activity lead to portfolio growth Automotive & Mobility Engineering& Technology Goods & Services 1) *) *) La Rochette 8 1) Majority shareholder with > 70%; SPA for Exit signed in Ma
Slide 9: Highlights of FY 2020
2 Development Highlights of FY 2020 ⌐ High transaction activity: Acquisitions: eleven closed acquisitions and three buy-side signings in 2020, already two further acquisitions in 2021 increase diversification substantially Exits: four closed exits and two signed exits in 2020 in and beyond target of
Slide 10: Key financial data of FY2020
3 Financials Key financial data of FY2020 Brisk M&A activity and negative effects from COVID-19 reflected in key financials Mutares Group Revenues Group EBITDA Adj. EBITDA Cash & Equity equivalents ratio EUR EBITD EUR EUR EUR % A EUR FY 2020 1,583.9m 142.7m -28.8m 145.3m 16% FY 2019 1,015.9m 79.2m 7
Slide 11: Segment Financials (1/3)
3 Financials Segment Financials (1/3) Automotive & Mobility Revenue Bridge Comments mEUR 2020 2019 • Revenues hugely impacted by COVID-19 Revenues 602.4 450.4 especially in Q2 2020; since Q3 2020 strong recovery Cost of material -349.7 -262.0 • EBITDA benefits from bargain purchase of SFC Personnel
Slide 12: Segment Financials (2/3)
3 Financials Segment Financials (2/3) Engineering & Technology Revenue Bridge Comments mEUR 2020 2019 • Increase in revenues mainly driven by the add-on Revenues 534.7 482.0 acquisition for Donges Group in FY 2019 (full-year effect in FY 2020) and FY 2020 as well as the new Cost of material -344.1 -
Slide 13: Segment Financials (3/3)
3 Financials Segment Financials (3/3) Goods & Services Revenue Bridge Comments mEUR 2020 2019 • High acquisition activity jeopardizes comparability of Revenues 446.7 83.5 FY 2020 to FY 2019 • Substantial increase in revenues due to the new Cost of material -280.8 -49.7 acquisition in FY 2019 (Tréfil
Slide 14: Lifecycle Status FY2020
3 Financials Lifecycle Status FY2020 Consulting Revenues FY 2020: Increased Diversification in the Portfolio FY 2020 FY 2019 EUR 31.9m Revenues Revenues Adj. Adj. EBITDA EBITDA Revenues Adj. EBITDA 720.5 716.9 Harvesting 29.6 22.3 5.6 (18%) SPA for Exit signed in March ‘21 274.3 7.1 19.2 236.2 (22%)
Slide 15: We will continue our path for sustainable growth…
4 Outlook We will continue our path for sustainable growth… …and to increase the attractiveness of the Mutares share for investors Recovery from COVID-19 effects, further increase in M&A activity to be expected in 2021 Already two closings (Clecim and EXI) on buyside and two closings (Nexive and Rot
Slide 16: Mutares
C MUTARES
Slide 17: Thank you for your attention!
Thank you for your attention! WE ARE THE TURNAROUND ENTREPRENEURS Mutares SE & Co. KGaA Arnulfstraße 19 80335 Munich +49 89 9292 7760 ir@mutares.com www.mutares.com 17
Slide 18: Consolidated P&L
Back-up Consolidated P&L M&A activity and COVID-19 impacting P&L mEUR 2020 2019 Revenues 1,583.9 1,015.9 • Increase in Revenues hugely impacted by M&A activity +/- Change in inventories -23.1 -3.9 • Gains from bargain purchases are recorded within other income Other income 241.3 119.1 Cost of materi
Slide 19: Consolidated Adjusted EBITDA
Back-up Consolidated Adjusted EBITDA Newly acquired entities and COVID-19 with negative impact on profitability mEUR 2020 2019 EBITDA 142.7 79.2 Income from bargain purchases -207.8 -102.6 Restructuring and other non-recurring expenses 41.1 31.0 Deconsolidation effects -4.9 0.0 Adjusted EBITDA -28.8
Slide 20: Consolidated Balance Sheet
Back-up Consolidated Balance Sheet Cash-in from bond issue and acquisitions lead to an increase in total assets mEUR 31/12/2020 31/12/2019 mEUR 31/12/2020 31/12/2019 Intangible assets 76.0 58.7 Total equity 207.2 208.2 PP&E 242.6 176.4 Financial liabilities 231.3 117.7 Right of use assets 147.4 119.
Mutares SE & Co. KGaA — FY 2020 Earnings Presentation on 6ix