Mutares SE & Co. KGaA

Net Asset Value • Sep 7, 2015

News Details

Corporate | 7 September 2015 07:20

mutares publishes for the first time NAV of portfolio companies

DGAP-News: mutares AG / Key word(s): Private Equity/Strategic Company Decision

2015-09-07 / 07:20

---

The total NAV (net asset value) of the mutares Group currently amounts to EUR 351.2m or EUR 25.02 per share. Hence, the NAV exceeds the current market capitalization significantly by 28 percent. The regular publication of the NAV is part of intensified capital market communications.

To further increase transparency for investors and analysts, today mutares publishes for the first time the net asset values (NAVs) of all portfolio companies. The total NAV of the mutares Group accounts to EUR 351.2m and therefore exeeds the current market capitalization significantly by 28 percent. From now on, updates of the NAV will be published together with half-year and full-year figures.

NAV of the mutares Group

Portfolio companies	NAV in mEUR
EUPEC / BSL	124.7
STS Acoustics	52.8
Elastomer Solutions	43.2
A+F	33.0
Geesinknorba	30.8
Artmadis	22.2
Pixmania / Grosbill	16.8
Zanders	15.7
Klann Packaging	4.3
FTW	3.1
Net cash	4.6
Total	351.2

The valuation was done applying a DCF model and taking into account the forecast of the current year and the budgets for the coming three years (2016-2018) of each portfolio company. The annual growth rates following the detailed planning period have been very conservatively set to half a 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 5.5 and 11.4 percent.

Intensified capital market communications

Capital markets have a high importance for mutares to support the further successful development of the group. Hence, mutares wants to provide a maximum of transparency and service to its investors. The regular update of the NAV will show the development of mutares’ portfolio. For interested investors and analysts, mutares will also introduce conference calls starting with the publication of the half-year report on Sept 17, 2015. Also through its higher presence in the press, in social networks, at roadshows, and at capital market conferences, mutares intends to further intensify its communication with investors. All the additional information provided will further support the attention for the mutares stock. As a consequence, the average daily trading volume will increase. The issuance of bonus shares in July 2015 has already shown a strong impact in that direction.

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

Christoph Himmel

Investor Relations & Corporate Communications

Tel. +49 89 9292776-0

Fax +49 89 9292776-22

ir@mutares.de

www.mutares.de

---

2015-09-07 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Media archive at www.dgap-medientreff.de and www.dgap.de

---

392749  2015-09-07