Mutares Se & Co. Kgaa · XETR:MUX
Mutares Se & Co. Kgaa — Q1 2023 Earnings Presentation
24 slides from Mutares Se & Co. Kgaa's earnings presentation, May 9, 2023
Slide 1: Conference Call Q1 2023
Conference Call Q1 2023 We promised. We delivered. 1
Slide 2: Agenda
Agenda Introduction & Key Highlights Company & Business Model Financials Outlook 2
Slide 3: Mutares' Experienced and Highly Committed Management Team
Mutares´ Experienced and Highly Committed Management Team Management team with proven track record and sound sales, finance and operational background Delivering as CEO ROBIN LAIK Shareholder structure promised – the born in 1972, is founder, CEO and underlines management management has main shareho
Slide 4: Key Developments of FY 2023 YTD
Key Developments of FY 2023 YTD Development well on track with focus on exits and strong operative recovery across all segments Transactions Buy-side Transactions Sell-side Portfolio Development Signing Closing FRANCE 1) Capital Market People Growth Bond EUR 100 million Group Revenues (EUR) Bond 202
Slide 5: Agenda
Agenda Introduction & Key Highlights Company & Business Model Financials Outlook 5
Slide 6: Turnaround Hero with Clear Identity and Strong Achievements
Turnaround Hero with Clear Identity and Strong Achievements First in mind and first in choice when it comes to unrivaled private equity carve-outs 2022 2023 2025 EUROPEAN Guidance Target FOCUS EUR ca. EUR Group Revenues EUR 3.8 bn 4.8 – 5.4 bn 7.0 bn THREE DIVERSIFIED EUR EUR SEGMENTS Holding Net In
Slide 7: Unique Value Creation Life Cycle with ROIC Target of 7-10x
Unique Value Creation Life Cycle with ROIC Target of 7-10x Taking calculated risks and turning losses into opportunities, ultimately creating successful turnarounds Value creation steps Harvesting Optimization Realignment Turnaround & profit from a Investing in a successful profitable company Acquis
Slide 8: Mutares Portfolio Has Grown to 26 Companies with Annualized Revenues of over EUR 5 bn
Mutares Portfolio Has Grown to 26 Companies with Annualized Revenues of over EUR 5 bn Well diversified portfolio across three segments ca. EUR ca. EUR ca. EUR 2.2 bn 1.1 bn 1.9 bn Revenues Revenues Revenues Automotive & Mobility Engineering & Technology Goods & Services early-cyclical late-cyclical
Slide 9: Agenda
Agenda Introduction & Key Highlights Company & Business Model Financials Outlook 9
Slide 10: Key Financial Data for Mutares Group and Mutares Holding for Q1 2023
Key Financial Data for Mutares Group and Mutares Holding for Q1 2023 Positive Adjusted EBITDA shows progress in transformations, Net Income of Mutares Holding improved along with Revenues mEUR Q1 2022 Q1 2023 Δ 2023e Mutares Group Revenues 852.5 1,108.0 255.5 4,800 - 5,400 EBITDA -14.3 112.4 126.7 A
Slide 11: Segment Financials: Overview
Segment Financials: Overview All segments improve Adjusted EBITDA, Automotive & Mobility with signs of recovery mEUR Q1 2022 Q1 2023 Δ Automotive & Mobility Revenues 234.1 448.7 214.6 Adjusted EBITDA -19.0 -6.9 12.1 Engineering & Technology Revenues 243.4 263.1 19.7 Adjusted EBITDA -1.6 0.7 2.3 Good
Slide 12: Segment Financials: Automotive & Mobility
Segment Financials: Automotive & Mobility Substantial improvement in Adjusted EBITDA in light of successful transformation and improved market environment Metals Revenue Bridge Group mEUR Q1 2023 Q1 2022 Δ Revenues 448.7 234.1 214.6 Comments Cost of material -289.6 -157.7 -131.9 New acquisitions,
Slide 13: Segment Financials: Engineering & Technology
Segment Financials: Engineering & Technology SMP, La Rochette and Clecim with substantial progress, low activity in construction business Revenue Bridge mEUR Q1 2023 Q1 2022 Δ Revenues 263.1 243.4 19.7 Comments Cost of material -207.6 -162.0 -45.6 Recent acquisitions of NEM Energy, SMP and Guascor
Slide 14: Segment Financials: Goods & Services
Segment Financials: Goods & Services Progress in transformation programs across the segment leads to turnaround in Adjusted EBITDA Revenue Bridge mEUR Q1 2023 Q1 2022 Δ Revenues 396.7 375.1 21.6 Comments Cost of material -233.6 -229.2 -4.4 Increase in revenues due to recent acquisitions of Palmia,
Slide 15: Value Creation Life Cycle: Realignment, Optimization and Harvesting
Value Creation Life Cycle: Realignment, Optimization and Harvesting Diversified portfolio along the life cycle stages of the value creation approach Q1 2023 Harvesting 237.1 +7.2% (Adj. EBITDA/ Revenues) 2) 17.1 Optimization 395.2 -0.3% (Adj. EBITDA/ Revenues) Realignment -1.0 476.4 Metals Group -4.
Slide 16: Agenda
Agenda Introduction & Key Highlights Company & Business Model Financials Outlook 16
Slide 17: Special Melted Products Represents a Very Successful Turnaround Case for Mutares
Special Melted Products Represents a Very Successful Turnaround Case for Mutares Special Melted Products is now in its exit phase Mutares ownership Revenues (EURm) since May 2022 Renowned producer of high-end steels and alloys in the Steel and alloys Aerospace, Energy and Nuclear industries. Sector
Slide 18: 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 Amsterdam London Warsaw Fran
Slide 19: Virtual Annual General Meeting on 10 July 2023
Virtual Annual General Meeting on 10 July 2023 19
Slide 20: 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. 20
Slide 21: Our ESG Approach Will Support our Sustainable Growth
Our ESG Approach Will Support our Sustainable Growth Our ESG performance is measured via our developed ESG KPIs in accordance with the UN SDGs Signatory since 2021 Environment Social Governance 2022 highlight 2022 highlight 2022 highlight 2022 highlight 38% 0 21% 0 of Portfolio women at Mutares repo
Slide 22: Group Financials
Group Financials Condensed Consolidated Statement of Profit and Loss mEUR Q1 2023 Q1 2022 Revenues 1,108.0 852.5 +/- Change in inventories 42.3 7.0 Other income 139.5 37.2 Cost of material -730.7 -549.3 Personnel expenses -286.4 -218.9 Other expenses -160.4 -142.8 EBITDA 112.4 -14.3 Depreciation & A
Slide 23: Group Financials
Group Financials Condensed Consolidated Statement of Profit and Loss mEUR 31/03/2023 31/12/2022 mEUR 31/03/2023 31/12/2022 Intangible assets 165.1 143.9 Total equity 768.1 714.0 PP&E 774.4 764.2 Financial liabilities 535.1 480.0 Right of use assets 363.9 375.6 Provisions 222.6 213.7 Other 146.1 93.5
Slide 24: 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 on, the fai
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