Mutares SE FY24 Profit, Revenues Rise; Confirms Outlook; Stock Climbs

(RTTNews) - Mutares SE & Co. KGaA (MUX.F), a German private equity holding company, on Tuesday published its audited annual and consolidated financial statements for the fiscal year 2024, which was postponed earlier, reporting higher profit and revenues. Further, the company reaffirmed its previously announced short- and medium-term targets.

On the Frankfurt Stock Exchange, Mutares SE shares were gaining around 7.4 percent in the early morning trading at 33.95 euros.

For the fiscal year 2025, the Management Board continues to expect an increase in revenues for the Mutares Group to between 6.5 billion euros and 7.5 billion euros.

For Mutares Holding, net income for the fiscal year 2025 is still expected to be in a range of 130 million euros to 160 million euros.

The company still expects an increase in Group revenues to 10 billion euros by 2028 and net income of 200 million euros for Mutares Holding.

Further, the company announced that for the fiscal year 2024, the Management Board and Supervisory Board will propose to the Annual General Meeting on July 2 the distribution of a dividend of 2.00 euros per share.

In fiscal 2024, net income of Mutares Holding was at 108.3 million euros, higher than 102.5 million euros last year.

Mutares Holding's revenues from consulting services and management fees rose 6% to 109.8 million euros in 2024, up from 103.6 million euros a year ago.

Mutares Group's consolidated EBITDA in the year amounted to 117.1 million euros, down from 756.9 million euros a year earlier. Adjusted EBITDA was loss of 85.4 million euros, compared to profit of 3.5 million euros a year ago.

Mutares Group generated revenues of 5.26 billion euros in fiscal year 2024, 12% higher than 4.69 billion euros last year. The increase was due to the high level of acquisition activity in fiscal years 2023 and 2024, which has resulted in an expansion of the portfolio.

In late April, Mutares announced a delay in the publication of its full-year results, due to increased auditing and documentation requirements stemming from complex special circumstances, which had impacted the timeline.

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