Mutares Increases Revenues by 15% in H1 2024, Confirms 2024 Forecast

Mutares SE & Co. KGaA reported a 15% increase in consolidated revenues for the first half of 2024, reaching EUR 2,610.4 million, up from EUR 2,273.6 million in H1 2023. Adjusted EBITDA stood at EUR 15.7 million, reflecting positive impacts from restructuring and development activities despite high transaction activity.

Mutares Holding's revenues grew to EUR 58.3 million from EUR 52.1 million, with net income significantly increasing to EUR 53.0 million, boosted by the exit of Frigoscandia. This aligns with plans for further international expansion, notably into China, India, and the US.

The company completed 11 transactions and signed agreements for four additional acquisitions. Key acquisitions included Cikautxo in China and strategic investments in Automotive, Engineering, Goods & Services, and Retail segments. Major exits included Frigoscandia, contributing substantially to the first-half income.

Mutares continues to focus on its long-term growth goals, aiming for EUR 10 billion in consolidated revenues by 2028. The Board confirms the 2024 revenue forecast between EUR 5.7 billion and EUR 6.3 billion, with net income expected between EUR 108 million and EUR 132 million.