Half Year 2024 Mutares SE & Co KgaA Earnings Call Transcript
Key Points
- Mutares SE & Co KGaA (FRA:MUX) has expanded its global presence with new offices in Mumbai, India, and Chicago, USA, enhancing its geographical footprint.
- The company has successfully executed 11 acquisitions in H1 2024, including notable brands like fischer automotive, which supports its growth strategy.
- Mutares SE & Co KGaA is targeting a significant revenue growth, aiming for EUR7 billion in annualized turnover across its diversified segments.
- The company has demonstrated strong exit capabilities, with successful divestments such as Frigoscandia, contributing positively to its financials.
- Mutares SE & Co KGaA maintains a strong alignment of interests with shareholders, holding 36% of shares, and continues to offer attractive dividends.
- The company's EBITDA and adjusted EBITDA have not been as positive in Q2 2024 compared to Q1, reflecting challenges in integrating loss-making acquisitions.
- The automotive segment faces uncertainties due to strategic shifts in the industry, which may require additional investments to align capacities.
- Some portfolio companies are still in the realignment phase, contributing negatively to the adjusted EBITDA, impacting overall profitability.
- The Retail & Food segment is challenged by weak consumer confidence in core markets like France, necessitating cost-cutting measures.
- The company acknowledges that its strategy of consolidating large groups may require further investment, posing potential financial risks.
Good afternoon, everyone, and welcome to the Mutares earnings call for H1 2024. On the call today, the CIO, Johannes Laumann; and the CFO, Mark Friedrich will present the results and most relevant events of H1 2024. (Operator instructions) The presentation shown as available on the mortality website after the call.
Before we start, I would like to remind you that this presentation contains forward-looking statements, including projections which may not develop as currently expected. I therefore, kindly ask you to take note of the precautionary warning about forward-looking statements that is included in the materials on the website.
Now let me hand over to Johannes Laumann. Please go ahead.
Thank you very much and a very warm welcome to our H1 2024 call. I'm very happy to be able to present to this call and be back in the best leadership team, I believe it's existing in the world.
So let me take you a little bit to the general intro
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