Mutares SE & Co. KGaA (MUTRF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome everybody to the Q1 update call of the Mutaris Group. My name is Mark Friedrich, CFO of the group. Next to me is Johannes, CIO of the group. And we will run you through the presentation today. As last time, I will start with the management summary and then begin to Q1, 2026. Johannes will take over again, portfolio updates and the outlook. Since we just spoke two weeks ago, I just want to repeat the management summary that we already presented last time. So last year we reached quite a significant number in terms of holding its income of 130 million. We reached our target here. We were in the range. Also, group revenues were in the range and communicated the guidance. of 7.9 to 9.1 billion in group revenues and holding net resides net income of 165 to 200 million for 2026. The basis for this is actually the pipeline on sell side and buy side here and actually the basis for this again forms in the successful capital increase that we completed by the end of April. When looking ahead already, next milestone for us where we see each other then is the annual charitable meeting beginning of July where the company proposed a two euro dividend per share. When looking at Q1 financials, we again made a step forward in the group, reaching $1.7 billion in revenues. Second half will be much stronger in terms of revenue and also EBITDA and adjusted EBITDA due to the completion of the already signed transactions, namely the ones that we presented last time, Borealis or Wärtsilä and Jadis. that will then massively contribute to the financials in the second half of the year. EBTA already, again, $160 million due to the bargain purchases of the four transactions that we closed in Q1. I will mention the ones once we look at the lifecycle. Adjusted EBTA of $11 million made a big...