Mutares Responds to Gotham City Research Allegations

Mutares SE & Co. KGaA issued a detailed statement in response to allegations made by Gotham City Research. The report, received on September 26, 2024, was described by Mutares as misleading and aimed at distorting facts for economic gain.

Mutares rejected the accusations, emphasizing their business model's need for initial investments and highlighting successful exits between 2022-2024. The company stated that transactions with related parties adhered to legal requirements, and the previously reported cash discrepancy was a transcription error.

Mutares continues to pursue global expansion into China, India, and the USA. The company aims for consolidated revenues of €10 billion and a net income of approximately €200 million by 2028. The forecast remains positive for the fiscal year 2024, expecting revenues between €5.7 billion and €6.3 billion.

Financing for this growth includes recent bond issuances, aiming to optimize debt financing costs and support further acquisitions. Successful exits since 2020 have demonstrated the effectiveness of Mutares' restructuring strategy.