EQS-News: Mutares announces change in the Management Board and confirms long-term growth strategy
EQS-News: Mutares SE Co. KGaA
/ Key word(s): Personnel
Mutares announces change in the Management Board and confirms long-term growth strategy
13.11.2023 / 18:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
Mutares announces change in the Management Board and confirms long-term growth strategy
Munich, November 13, 2023 - The Supervisory Board of Mutares Management SE, the general partner of Mutares SE Co. KGaA (ISIN: DE000A2NB650) ("Company"), has extended the contract with the long-standing Chief Financial Officer, Mark Friedrich, for a further four years until December 31, 2027. Johannes Laumann, who has been a member of the Management Board since 2019, asked the Supervisory Board for a personal sabbatical. Mr. Laumann will continue to support the Management in an exclusive advisory capacity. The M and Investor Relations departments, which he has been responsible for together with Robin Laik, CEO and founder of Mutares, will be transferred to Robin Laik's area of responsibility in the future. Mutares is excellently positioned for its growth plans in the area of M In addition to 11 European offices, Mutares has opened a further office in China this year.
Dr. Kristian Schleede, Chairman of the Supervisory Board of Mutares Management SE, comments: "The Supervisory Board would like to thank Johannes Laumann for his many years of service to the Company, his commitment to Mutares and the consistently good and trusting cooperation. We deeply regret that Mr. Laumann has decided to take a personal break for private reasons. Robin Laik and Johannes Laumann have agreed to continue working closely together in the future in order to successfully develop the Company.“
Volker Rofalski, Chairman of the Supervisory Board of Mutares SE Co. KGaA, adds: "We are also very pleased that a long-term contract extension has been agreed with Mark Friedrich, the CFO of Mutares. The Company is thus focusing on continuity and stability. The Supervisory Board is looking forward to further successful cooperation. Mark Friedrich has been with Mutares for over ten years and has been a member of the Company's Management Board since April 2015. He is largely responsible for the excellent development of Mutares in recent years and its new guidance."
Mark Friedrich underlines the ambitious growth targets that Mutares has communicated: "We have been able to significantly increase revenues and net income every year since 2018. This year, the Company plans to increase consolidated revenues to between EUR 4.8 billion and EUR 5.4 billion and the net income of Mutares Holding to between EUR 92 million and EUR 112 million. We are very confident that, together with our team, we will be able to further advance the Company's growth targets and achieve the communicated goals."
Company profile of Mutares SE Co. KGaA
Mutares SE Co. KGaA, Munich (www.Mutares.com), as a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki, London, Madrid, Milan, Paris, Shanghai, Stockholm, Vienna and Warsaw, acquires medium-sized companies in special situations, based in Europe, which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. For the fiscal year 2023, consolidated revenues of EUR 4.8 billion to EUR 5.4 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. Accordingly, net income in the holding company is expected to be in the range of 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).
For more information, please contact:
Mutares SE Co. KGaA
Investor Relations
Phone: +49 89 9292 7760
E-Mail: ir@mutares.de
www.mutares.de
Contact Press
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Susan Hoffmeister
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E-Mail: matthieu.meunier@clai2.com
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