Mutares SE & Co. KGaA

Earnings Release • Sep 30, 2014

News Details

Corporate | 30 September 2014 16:12

mutares AG: mutares confirms half-year results at record level and publishes half-year report

mutares AG / Key word(s): Half Year Results/Interim Report

30.09.2014 / 16:12

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Today, mutares AG (ISIN: DE000A0SMSH2) publishes its half-year report. In H1 2014, total group revenues increased by 111% to EUR 307.5m compared to the reference period (H1 2013: EUR 145.8m). EBITDA increased by 55% to EUR 10.4m (H1 2013: EUR 6.8m). At least one additional acquisition is planned for the second half of the financial year.

Munich, September 30, 2014 – The Munich based restructuring specialist mutares AG generated a significant increase in revenues and EBITDA in the first half of 2014. Based on the final figures, the consolidated revenues increased significantly by 111% to EUR 307.5m in the first half of 2014 compared to the reference period (H1 2013: EUR 145.8m). This increase is primarily due to the organic growth of the mutares Group and the primary consolidation of the portfolio companies PIXmania Group and STS Acoustics.

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) rose by 55% from EUR 6.8m to EUR 10.4m in the reporting period. In addition to the primary consolidation of the PIXmania Group, the strong performance of the existing portfolio contributed to the positive performance. The upward trend of the portfolio companies Artmadis and Elastomer Solutions is particularly noteworthy. The EUPEC Group, the largest European provider of coatings for oil and gas pipelines, continued its dynamic sales and earnings development during the reporting period thanks to the acquisition of large-scale projects. In addition, the GeesinkNorba Group, one of the top three manufacturers of refuse collecting vehicles in Europe, is on a steady growth path after a two-year restructuring program.

The mutares AG has a solid financial structure. Group equity increased from EUR 37.9m as of December 31, 2013 to EUR 39.6m as of June 30, 2014. Net liquidity amounts to EUR 81.5m at the end of the first half year (December 31, 2013: EUR 42.7m).

New corporate strategy for PIXmania

Currently, the portfolio of the mutares Group consists of 10 separately and independently managed companies from the fields of engineering, retail and logistics. Compared to the first half of 2013, the portfolio companies STS Acoustics and PIXmania Group are included for the first time in the consolidation and completely contained.

The PIXmania Group, a leading European e-commerce retailer, which is based in Paris, has been part of the mutares Group since January 1, 2014. In the first six months after acquisition, a new corporate strategy and a restructuring program geared towards sustainable growth and profitability was implemented. This program includes comprehensive measures to increase revenues and margins. Simultaneously, numerous cost reduction potentials are addressed. In the first half of 2014, the revenues of the PIXmania Group amounted to EUR 113.4m. For the full year 2014, revenues of more than EUR 250m are expected.

Outlook

With the half-year results and a positive outlook on the further course of the year, mutares confirms its guidance for the current financial year. The board expects another record year with group revenues of at least EUR 650m for the full year 2014. Moreover, an earnings improvement on group level can be expected compared to financial year 2013. On the transaction side, the board expects intense activity in the second half of 2014. The deal pipeline continues to be very well filled. Hence, at least one additional acquisition is expected by the end of the year.

The interim report is available for download at www.mutares.de.

Company profile of mutares AG

mutares AG, Munich (www.mutares.de), acquires companies, or parts of companies that are sold in the course of reorganization by the owner and possess clear potential for operative improvement. mutares actively supports its portfolio companies with its own teams that have the objective to achieve a significant increase in value. Thereby, the main intention is the alignment of the company towards sustainable growth. The shares of mutares AG are traded in the Open Market of the Frankfurt Stock Exchange (Entry Standard) under the symbol MUX (ISIN: DE000A0SMSH2).

For further information, please contact:

mutares AG

Christoph Himmel

Investor Relations & Corporate Communications

Tel. +49 89 9292776-0

Fax +49 89 9292776-22

ir@mutares.de

www.mutares.de

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289566  30.09.2014