Mutares SE 9M 2025: Key Takeaways

Strong Performance Overview for 9M 2025

Mutares SE, the listed turnaround investor headquartered in Munich, delivered strong, strategically meaningful performance in the first nine months of 2025. In this comprehensive update, CIO Johannes Laumann provides investors with a transparent view of operational progress, portfolio dynamics, exit activity, and the outlook for year-end results.

Strong Net Income Growth Driven by Transformation & Exits

Strong Net Income Growth Driven by Transformation & Exits

The holding company has demonstrated a substantial increase in net income during the reporting period, reflecting Mutares’ robust business model. This model involves acquiring underperforming companies, stabilizing operations, implementing deep restructuring programs, and ultimately exiting them at significant value creation.

Laumann highlights that both supported the surge in profitability:

solid operational improvements within major platform investments, and

higher exit activity and bargain-purchase effects from newly consolidated entities.

These drivers underscore the scalability of the Mutares playbook and the maturity of the existing portfolio.

Portfolio Expansion Across Four Segments

Portfolio Expansion Across Four Segments

During the first nine months of 2025, Mutares continued to diversify its portfolio across its four strategic segments, each with its unique investment opportunities:

Automotive & Mobility – characterized by large industrial carve-outs, metal and plastics processing, and platform strategies aimed at operational consolidation.

Engineering & Technology – benefiting from secular investment trends in energy infrastructure, power systems, and industrial equipment, driven by global re-industrialization and public-sector modernization.

Infrastructure & Special Industries – supported by strong demand in logistics, road infrastructure, and defense-related applications, all of which remain high-priority investment categories in Europe.

Goods & Services – stable, recurring cash-flow businesses such as industrial services, technical maintenance, and specialized workforce solutions.

Across all segments, the company emphasises operational improvements through its 160-person in-house consulting and task force team — a key differentiator in the European turnaround landscape.

Exit Pipeline Positioned for a Strong Q4

Exit Pipeline Positioned for a Strong Q4

A central theme of Laumann’s 9M update is the robust exit pipeline, which is expected to contribute materially in the fourth quarter.

Mutares traditionally delivers a disproportionate share of holding-company earnings near year-end, as exits crystallize value. The current pipeline includes:

mature platform assets ready for divestment,

strategic buyers engaged in advanced stages of negotiation, and

selected IPO preparations where public markets offer an attractive valuation path.

Laumann reiterates that Mutares remains disciplined in its approach to exits. Exits are executed only when the internal value-creation targets are met, not when the calendar dictates. This approach ensures that every exit is strategically sound and contributes to the company’s long-term success.

▶️ Other videos: 

Elevator Pitch: https://seat11a.com/investor-relations-elevator-pitch/ 

Company Presentation: https://seat11a.com/investor-relations-company-presentation/ 

Deep Dive Presentation: https://seat11a.com/investor-relations-deep-dive/ 

Financial Results Presentation: https://seat11a.com/investor-relations-financial-results/ 

ESG Presentation: https://seat11a.com/investor-relations-esg/ 

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