Mutares SE & Co. KGaA: Annual General Meeting approves dividend of EUR 2.25 per share – focus on global expansion in attractive markets

Distribution of a dividend of EUR 2.25 per share (previous year: EUR 1.75) resolved with 99.98% approval
High level of approval of all agenda items
Forecast for the fiscal year 2024 confirmed

Munich, June 4, 2024 – Today, the Annual General Meeting of Mutares SE & Co. KGaA (ISIN: DE000A2NB650) resolved to distribute a dividend of EUR 2.25 per share (previous year: EUR 1.75) for the fiscal year 2023. In accordance with the dividend policy updated in the fiscal year 2023, this consists of a minimum dividend of EUR 2.00 per share and a bonus dividend of EUR 0.25 per share. Therefore, a total of approximately EUR 47.4 million (previous year: EUR 36.1 million) will be distributed from the retained earnings of Mutares SE & Co. KGaA.

The Annual General Meeting was led by the Management Board members of Mutares Management SE, Robin Laik (CEO) and Mark Friedrich (CFO), who manage the Company's business. In their presentation, they looked back on a successful fiscal year 2023, characterized by pleasing restructuring and development progress in the portfolio. This pleasing development has continued in 2024 to date. In addition to the strong momentum on the acquisition side with 16 completed acquisitions, the highlights in the fiscal year 2023 also included a total of 7 exits of portfolio companies. With the sale of Special Melted Products ("SMP"), Mutares achieved the largest exit in the Company's history to date.

In their presentation, the Management Board members highlighted the Company's further growth ambitions and outlined the expansion into China and India in this context. Through its location in Mumbai (India), Mutares is entering a market that is expected to see strong economic growth in the coming years and offers enormous opportunities for Mutares in its target industries. With the successful increase of the bond by a further EUR 100 million to a maximum volume of EUR 250 million in the first quarter of fiscal year 2024, the financial prerequisites have been created to take full advantage of the opportunities for further portfolio growth.

Robin Laik, CEO, comments: "The successful fiscal year 2023 and in particular the exit of SMP illustrate the value creation potential associated with our business model. With the portfolio we have developed over the past few years, we are in a comfortable position to reap the rewards of our many years of work on the one hand and to further accelerate our growth on the other. We are rolling out our business internationally and see attractive opportunities to repeat the successes we have achieved in Europe, China, India and in the USA. Our shareholders will continue to participate in our success through a dividend in line with our growth."

With a view to the further course of the year, the Management Board confirmed the outlook, which forecasts consolidated revenues of EUR 5.7 billion to EUR 6.3 billion for the Mutares Group and net income of EUR 108 million to EUR 132 million for Mutares Holding.

All resolutions proposed under the agenda items received clear approval at the Annual General Meeting. In an interesting discussion, the Management Board answered all the shareholders' questions in detail. The actions of the members of the Management Board, the Supervisory Board and the Shareholders' Committee for the past fiscal year were approved by the shareholders with a clear majority. The voting presence at the Annual General Meeting was 49.84% at the time of the vote.

Further information on the Annual General Meeting 2024 and the detailed voting results will be available shortly on the company website in the Investor Relations section.

Company profile of Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (www.mutares.com), a listed private equity holding company with offices in Munich (HQ), Amsterdam, Bad Wiessee, Frankfurt, Helsinki, London, Madrid, Milan, Mumbai, Paris, Shanghai, Stockholm, Vienna and Warsaw, acquires companies in special situations which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. For the fiscal year 2024, consolidated revenues of EUR 5.7 billion to EUR 6.3 billion are expected. Based on this, consolidated revenues are to be expanded to approx. EUR 7 billion by 2025 and EUR 10 billion by 2028. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. On this basis, the Holding Company is expected to generate a net income of EUR 108 million to EUR 132 million for the fiscal year 2024, EUR 125 million to EUR 150 million for the fiscal year 2025 and EUR 200 million for the fiscal year 2028. The Management Board and Supervisory Board together hold more than one-third of all Mutares shares with voting rights. The shares of Mutares SE & Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A2NB650) and have been part of the selection index SDAX since December 2023.

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