Mutares SE & Co. KGaA / DE000A2NB650
14.08.2024 - 07:30:17Mutares has completed the acquisition of fischer automotive systems GmbH & Co. KG from fischerwerke GmbH & Co. KG
| Mutares SE & Co. KGaA / Key word(s): Investment/Takeover Mutares has completed the acquisition of fischer automotive systems GmbH & Co. KG from fischerwerke GmbH & Co. KG 14.08.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Mutares has completed the acquisition of fischer automotive systems GmbH & Co. KG from fischerwerke GmbH & Co. KG Automotive supplier of kinematic components and high-quality system solutions for vehicle interiors and exteriors New platform investment to strengthen the Automotive & Mobility segment Revenues of around EUR 200 million expected in fiscal year 2024 Munich, August 14, 2024 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has completed the acquisition of fischer automotive systems GmbH & Co KG (fischer Automotive) from fischerwerke GmbH & Co KG. The company will strengthen the Automotive & Mobility segment as a new platform investment and will be renamed Matikon further to the acquisition. Fischer Automotive develops, produces and sells kinematic components for vehicle interiors and exteriors, such as air vents, storage compartments, cup holders and charging flaps for electric vehicles. As full-service provider, the company can develop system solutions and modules. The company develops and manufactures the products at its headquarters in Horb am Neckar, Germany, in a state-of-the-art development center and research laboratory, as well as in other plants in the Czech Republic (Ivanovice na Hané and Holubice), Serbia (Jagodina), China (Taicang) and the USA (Auburn Hills), giving the company a global presence at all major production sites in the automotive industry. Thanks to its extensive expertise in plastics processing and its global subsidiaries, fischer Automotive has well-established relationships and direct access to a strong customer base, including well-known OEMs such as Mercedes, Audi, Porsche, BMW, GM, XPENG and BYD as well as Tier 1 suppliers such as FORVIA and Magna. With around 1,300 employees, the company expects to generate revenues of around EUR 200 million in the fiscal year 2024. The focus in the upcoming weeks and months will be the implementation of operational improvements using Mutares’ best practices as well as the completion of the carve-out from fischerwerke GmbH & Co KG to finalize stand-alone structures and processes. Mid-term target is to further grow the business in the main automotive markets America, China as well as Central and Eastern Europe using the advantages of the existing footprint of the company. Company profile of Mutares SE & Co. KGaA Mutares SE & Co. KGaA, Munich (www.mutares.com), a listed private equity holding company with offices in Munich (HQ), Amsterdam, Bad Wiessee, Chicago, Frankfurt, Helsinki, London, Madrid, Milan, Mumbai, Paris, Shanghai, Stockholm, Vienna and Warsaw, acquires companies in special situations which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. For the fiscal year 2024, consolidated revenues of EUR 5.7 billion to EUR 6.3 billion are expected. Based on this, consolidated revenues are to be expanded to approx. EUR 7 billion by 2025 and EUR 10 billion by 2028. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. On this basis, the Holding Company is expected to generate a net income of EUR 108 million to EUR 132 million for the fiscal year 2024, EUR 125 million to EUR 150 million for the fiscal year 2025 and EUR 200 million for the fiscal year 2028. The Management Board and Supervisory Board together hold more than one-third of all Mutares shares with voting rights. The shares of Mutares SE & Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A2NB650) and have been part of the selection index SDAX since December 2023. For more information, please contact: Mutares SE & Co. KGaA Investor Relations Phone: +49 89 9292 7760 E-mail: ir@mutares.de www.mutares.com Press Contact in Germany CROSS ALLIANCE communication GmbH Susan Hoffmeister Phone: +49 89 125 09 0333 E-mail: sh@crossalliance.de www.crossalliance.de Press Contact in France CLAI Matthieu Meunier Phone: +33 06 26 59 49 05 E-mail: matthieu.meunier@clai2.com Press Contact in UK 14:46 Consulting Tom Sutton Phone: +44 7796 474940 E-mail: tsutton@1446.co.uk 14.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | Mutares SE & Co. KGaA |
| Arnulfstr.19 | |
| 80335 Munich | |
| Germany | |
| Phone: | +49 (0)89-9292 776-0 |
| Fax: | +49 (0)89-9292 776-22 |
| E-mail: | ir@mutares.de |
| Internet: | www.mutares.de |
| ISIN: | DE000A2NB650 |
| WKN: | A2NB65 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1964673 |
| End of News | EQS News Service |
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