Steyr's sales boosting Mutares' earnings
Mutares, a prominent financial investor based in Munich, has announced its plans to sell more companies from its portfolio in the second half of 2025, aiming to achieve its target annual surplus of 130 to 160 million euros. This move comes after a successful first half of the year, during which the company completed five sales from its portfolio, offset by eight acquisitions.
One of the notable acquisitions was Buderus Edelstahl, a logistics service provider GDL, and Magirus, a manufacturer of vehicles and products for firefighting. The group's revenue increased to 3.11 billion euros due to these acquisitions, up from 2.61 billion euros in the previous year.
Mutares also listed road service provider Terranor on the Stockholm stock exchange, selling 25% of its shares. The company's portfolio, however, reported significant losses in the first half of the year. Despite this, Mutares managed to increase its net profit by nearly a third to 69.8 million euros in the first half of the year, primarily due to the further sale of shares in defense supplier Steyr Motors, which reduced Mutares' stake to 23%.
In June, Mutares signed an agreement to acquire the Continental brake drum plant in Italy. The company is known for specializing in the acquisition of companies and corporate divisions in challenging situations.
Looking ahead, Mutares has announced its plans for the future, focusing on restructuring turnaround, carve-outs, and growth in the Goods & Services segment. The company has recently agreed to acquire the crane business unit of Hyva, expected to close in Q4 2025 subject to merger clearance. This acquisition will strengthen Mutares' Goods & Services segment with a new platform investment. The Hyva crane business generates roughly 100 million euros in revenues, has 400 employees, and operates globally with production sites in Italy, Brazil, and China, serving multiple industries.
Regarding the ongoing audit by BaFin, the financial supervisory authority, Mutares is currently under review for parts of its notes and management report for the fiscal year ending December 31, 2023. The company expects a detailed questionnaire from BaFin soon and aims to complete the process by the end of October 2025. Mutares has emphasized transparency and compliance and plans personal exchanges with BaFin auditors to support the inquiry.
Despite the challenges faced earlier in the year, Mutares has shown resilience and continues to demonstrate strong financial performance. The company's earnings guidance for 2025 remains unchanged, expecting Group revenues between EUR 6.5 billion and EUR 7.5 billion and net income for the Holding between EUR 130 million and EUR 160 million. The trailing twelve months (ttm) show net income of EUR 38.5 million, revenues around EUR 5.81 billion, and a price-to-earnings (P/E) forward ratio of 5.8, indicating positive investor sentiment. The stock’s 52-week range is EUR 18.64 to EUR 49.20, with a recent dividend yield of about 7.23%.
In summary, Mutares continues to navigate its strategic portfolio shifts, focusing on growth and restructuring opportunities. The ongoing audit by BaFin is being addressed with transparency and compliance, and the company is optimistic about completing the process by the end of October 2025. With its robust financial performance and strategic acquisitions, Mutares remains a compelling investment opportunity for many.
[1] Mutares Confirms Earnings Guidance for 2025 [2] BaFin Initiates Audit of Mutares' 2023 Annual Report and Management Report [3] Mutares to Acquire Hyva Crane Unit [4] Mutares Q1 2025 Results: Strong Performance and Dividend Yield [5] Mutares Returns to SDax After Being Removed Previously
- With its strong financial performance and strategic acquisitions such as the Hyva crane business, Mutares continues to position itself as an attractive investment opportunity in the business and finance sector.
- As Mutares proceeds with its plan to sell more companies in the second half of 2025, it is also focusing on restructuring, carve-outs, and growth in the Goods & Services segment, indicating a commitment to investing in promising business opportunities.
