Mutares SE & Co. KGaA

Earnings Release • Apr 25, 2016

News Details

Corporate | 25 April 2016 09:04

mutares achieved record results in FY 2015 and proposes a dividend of EUR 0.60 per share

DGAP-News: mutares AG / Key word(s): Dividend/Final Results

2016-04-25 / 09:04

The issuer is solely responsible for the content of this announcement.

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Today, the mutares Group (ISIN: DE000A0SMSH2) published its Annual Report for FY 2015. The group achieved again record levels in its consolidated revenues, operating earnings, cash and equity position, and NAV. The Executive Board and Supervisory Board want their shareholders to participate in the great success of the company by proposing a dividend payment of EUR 0.60 per share.

With its achieved record results in FY 2015, the mutares Group managed to grow its key performance indicators for the seventh consecutive year. The supreme objective – profitable growth – was again impressively fulfilled.

In FY 2015, mutares has been successful to increase group revenues to EUR 683.8m (previous year: EUR 648.1m). Particularly the newly acquired companies as well as the organic growth in revenues of EUPEC, STS Acoutistics, and Elastomer Solutions contributed to this great performance. The total output amounted to EUR 748.1m (previous year: EUR 721.3m). The group’s operative result (EBITDA) was significantly increased to the record level of EUR 39.9 m (previous year: EUR 30.9 m). This result proves the group’s operational capability and the restructuring know-how of mutares. In total, the group generated an EBIT of EUR 19.6m (previous year: 15.5m).

The mutares Group’s healthy balance sheet structure has improved again in FY 2015. On the reporting date, December 31, 2015, equity had increased to EUR 73.3m (previous year: EUR 50.7m) and liquid funds to EUR 69.7m (previous year: EUR 69.2m). The Executive Board would like shareholders to participate in this success and will therefore propose a dividend of EUR 0.60 per share to the annual general meeting. Related to the current share price, this would correspond to a dividend yield of more than 4 percent.

The Annual Report 2015 of the mutares Group can be downloaded under www.mutares.de/investor-relations.

NAV of the mutares Group (in mEUR)

Portfolio companies	NAV as of Dec 31, 2015
EUPEC / BSL	92.4
STS Acoustics	54.1
Elastomer Solutions	45.4
A+F	35.1
Geesinknorba	26.7
Artmadis	23.2
Grosbill	15.4
Zanders	15.1
Norsilk	13.4
Klann Packaging	4.3
FTW	1.3
Net cash	25.5
Total	351.9

The total NAV (net asset value) of the mutares Group as of December 31, 2015, amounts to EUR 351.9m or EUR 22.79 per share. The most significant changes relate to the acquisition of Norsilk and the challenging market environment of the portfolio companies being present in the oil and gas business. EUPEC and BSL had to consider the ongoing weakness of the oil price in the outlook for their core business.

The valuation was done applying a discounted cash-flow model and taking into account the budgets of the current year and for the coming two years (2016-2018) of each portfolio company. The annual growth rates following the detailed planning period have been set industry and company specific between 0.5 and 1.5 percent. The discount rates are the WACCs (weighted average cost of capital) of each of the portfolio companies. The WACCs are industry and country specific and lie between 4.8 and 9.2 percent.

Company profile of mutares AG

mutares AG, Munich (www.mutares.de), acquires companies, that are being sold in the course of a repositioning process at their owners and that show a clear operational improvement potential. Getting engaged with its own teams, mutares actively supports its portfolio companies to achieve a clear value increase. The focus of the operational work is to ensure sustainable, long-term 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

Soh-Pih Mariette Nikolai

Investor Relations & Corporate Communications

Tel. +49 89 9292776-0

Fax +49 89 9292776-22

ir@mutares.de

www.mutares.de

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2016-04-25 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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