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Mutares (MUX) investor relations material
Mutares Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Focus on transforming distressed companies into profitable entities, targeting value creation and global leadership in carve-out situations, with a buy-fix-sell model across construction, chemicals, automotive, and other sectors.
Operates a diversified portfolio in four segments: Automotive & Mobility, Engineering & Technology, Infrastructure & Special Industry, and Goods & Services, with global presence and expansion into Japan planned for 2026.
Strong operational team drives acquisitions, realignment, optimization, and harvesting (exits), with at least three acquisitions and three exits expected by year-end.
Five divestments completed and several acquisitions, including Fuentes, inTime Group, and Kawneer EU, expanded the portfolio.
Portfolio segmentation was restructured, introducing the Infrastructure & Special Industry segment.
Financial highlights
Group revenues increased 21% year-over-year to EUR 4,725.3 million, driven by acquisitions and high M&A activity.
EBITDA surged to EUR 720.3 million from EUR 170.3 million year-over-year, mainly due to gains from bargain purchases and successful exits.
Adjusted EBITDA was EUR -62.5 million, down from EUR -16.5 million, impacted by restructuring and integration costs from new acquisitions.
Net income at Holding level rose 56% to EUR 83.5 million, with Group net income reaching EUR 256.2 million, supported by major exits.
Holding revenues from consulting and management fees were EUR 77.6 million, down from EUR 84.3 million.
Outlook and guidance
FY 2025 group revenue guidance set at EUR 6.5–7.5 billion, with net income projected at EUR 130–160 million and positive EBITDA expected.
By 2028, targets are EUR 10 billion in revenues and EUR 200 million net income.
Further exits are anticipated in Q4 2025, supporting guidance and segment-specific growth targets.
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