Mutares Se & Co. Kgaa · XETR:MUX
Mutares Se & Co. Kgaa — Q3 2025 Earnings Presentation
19 slides from Mutares Se & Co. Kgaa's earnings presentation, Nov 13, 2025
Slide 1: Global Private Equity Special Situations Investor
Global Private Equity Special Situations Investor Q3 2025 Earnings Call November 13, 2025
Slide 2: Agenda
Agenda 1 Business Model 2 Q3 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 diversified segments Munich (HQ) 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 Invested Capital Recurring Holding revenues from consulting & management fees Harvesting Optimization Transformation into a
Slide 6: Agenda
Agenda 1 Business Model 2 Q3 2025 Financials 3 Portfolio Update 4 Outlook 6
Slide 7: Key financials
Key financials Revenues EBITDA Adjusted EBITDA YTD Q3 2025 of Mutares Group EUR 4.7 bn EUR 720.3 m EUR -62.5 m and Holding (previous year: EUR 3.9 bn) (previous year: EUR 170.3 m) (previous year: EUR -16.5 m) Group Acquisition Acquisition Realignment/Optimization Positive impact through buy-side Pos
Slide 8: Portfolio segmentation redefined to drive strategic alignment and growth
Portfolio segmentation redefined to drive strategic alignment and growth Increase in revenues due to new add-on Q3 2025 Q3 20241) acquisitions made in 2025 in Amaneos, SFC and FerrAl United groups respectively Automotive & Mobility Focus on consolidation of the two large Revenues 1,876.7 1,679.7
Slide 9: Well diversified portfolio across lifecycle stages as of September 30, 2025
Well diversified portfolio across lifecycle stages as of September 30, 2025 Revenues (EURm)1) Adj. EBITDA (EURm)1) Harvesting 2) Q3 2025 Q3 2024 Q3 2025 Q3 2024 1,305.7 75.7 27.3 492.6 Optimization 2,768.0 2,007.5 4.1 1,413.6 -25.4 Realignment 634.1 2) -66.6 Kawneer EU -114.7 Holding period approx.
Slide 10: Agenda
Agenda 1 Business Model 2 Q3 2025 Financials 3 Portfolio Update 4 Outlook 10
Slide 11: Current status of new segmentation with well diversified portfolio
Current status of new segmentation with well diversified portfolio with annualized revenues of EUR ~7.5 bn Automotive & 5 Engineering & 10 Mobility Companies Technology Companies Early cyclical, Late cyclical, annualized rev. EUR ~2.9 bn annualized rev. EUR ~1.6 bn Infrastructure & 6 Goods & 13 Spec
Slide 12: Automotive & Mobility
Automotive & Mobility Early-cyclical business Harvesting 1) Optimization annualized rev. EUR ~2.9 bn The portfolio companies in the Automotive & Realignment Realignment Mobility segment — our early-cyclical business — operate worldwide and supply renowned international original equipment manufacture
Slide 13: Engineering & Technology
Engineering & Technology Late-cyclical business Harvesting Optimization annualized rev. EUR ~1.6 bn The portfolio companies in the Engineering & Realignment Technology segment – our late-cyclical business – focus on sophisticated solutions in plant and machine engineering and related products and se
Slide 14: Infrastructure & Special Industry
Infrastructure & Special Industry Non-cyclical business Harvesting 1 Optimization annualized rev. EUR ~1.2 bn The portfolio companies in the Infrastructure & Realignment Special Industry segment – our non-cyclical business – operate in the field of critical infrastructure and solutions as well as ot
Slide 15: Goods & Services
Goods & Services Non-cyclical business Harvesting Optimization annualized rev. EUR ~1.8 bn The portfolio companies in the Goods & Services Realignment segment – our non-cyclical business – offer specialized products and services to customers in various industries, some with a focus on end customers
Slide 16: Efacec Case Study
Update Efacec Case Study Presented Presented by CEO by Christian Fatmir Veselaj Klingler Managing Director of Mutares 16
Slide 17: Agenda
Agenda 1 Business Model 2 Q3 2025 Financials 3 Portfolio Update 4 Outlook 17
Slide 18: Outlook
Transaction activity Holding Group 5 sell-side transactions YTD – further Net income for FY 2025 Guidance for FY 2025: exits expected until year-end expected in the range of Revenues: EUR 6.5 – 7.5 bn EUR 130 – 160 m EBITDA: clearly positive level Full compliance with all BaFin Adjusted
Slide 19: Thank you for your participation!
Thank you for your participation! 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 rel
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