Mutares SE & Co. KGaA / DE000A2NB650

Supervisory Board of Mutares extends CEO Robin Laik's Management Board contract prematurely by a further five years

Mutares SE & Co. KGaA / Key word(s): Personnel


27.09.2024 / 09:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Munich, September 27, 2024 – The Supervisory Board of Mutares Management SE, the general partner of Mutares SE & Co. KGaA (ISIN: DE000A2NB650) ("Mutares"), today extended the contract with the Chief Executive Officer (CEO) and founder of Mutares SE & Co. KGaA for a further five years until December 31, 2029. Robin Laik founded the company in 2008 and, together with his family, is the largest single shareholder of Mutares with a shareholding of over 25%. At the same time, Robin Laik has announced his intention to further increase his shareholding together with his family. Robin Laik comments on the extension of the Management Board as follows: "When we founded Mutares in 2008, we were a blank slate. Today, the company has grown to a turnover of over EUR 5 billion and last year generated a net profit of over EUR 100 million in the Holding. We have raised our dividend target from a basic dividend of EUR 1.00 per share to a minimum dividend of EUR 2.00 per share this year. We are represented in eleven European countries, China, India and the USA. My colleagues on the Executive Board and I are firmly convinced of the Group's continued growth and the guidance for 2024." Volker Rofalski, Chairman of the Supervisory Board of Mutares SE & Co KGaA, comments: "Robin Laik and his team have successfully advanced Mutares with unparalleled commitment. It is only logical that the Supervisory Board has extended the contract of CEO Robin Laik for a further five years until December 2029. On behalf of the entire Supervisory Board, I wish him and his team all the best for the future and the tasks ahead.”
Company profile of Mutares SE & Co. KGaA As a listed private equity holding company with offices in Munich (HQ), Amsterdam, Bad Wiessee, Chicago, Frankfurt, Helsinki, London, Madrid, Milan, Mumbai, Paris, Shanghai, Stockholm, Warsaw and Vienna, Mutares SE & Co. KGaA, Munich (www.mutares.com), acquires companies in situations of upheaval that show significant potential for operational improvement and will be sold again after stabilization and repositioning. Group sales of EUR 5.7 billion to EUR 6.3 billion are expected for the 2024 financial year. Based on this, Group sales are expected to increase to around EUR 7 billion by 2025 and to EUR 10 billion by 2028. Revenue from advisory services and management fees, which together with dividends from the portfolio and exit proceeds will flow to the Mutares holding company, will also increase in line with portfolio growth. On this basis, the holding company is expected to generate net income of EUR 108 million to EUR 132 million for the 2024 financial year, EUR 125 million to EUR 150 million for the 2025 financial year and EUR 200 million for the 2028 financial year. The Management Board and Supervisory Board jointly 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 included in the SDAX selection index since December 2023.   For further information, please contact: Mutares SE & Co. KGaA
Investor Relations
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www.mutares.com Contact Press Germany
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Susan Hoffmeister
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www.crossalliance.de Contact Press France
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Matthieu Meunier
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Tom Sutton
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27.09.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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Language:	English
Company:	Mutares SE & Co. KGaA
	Arnulfstr.19
	80335 Munich
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
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:	1996843

End of News	EQS News Service

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1996843  27.09.2024 CET/CEST