Investment firm Mutares (ETR:MUXG) SE & Co. KGaA reported a significant 27% increase in consolidated revenues for the first nine months of the fiscal year 2023 today. The firm's net income also saw a substantial rise, reaching €101.3 million ($115.7 million). This robust performance was further bolstered by a 66% increase in revenues from consulting services and management fees, which reached €75.5 million ($86 million).
The third quarter was marked by high acquisition activity, with five transactions signed and three completed within this period. Notable acquisitions included Gläserne Molkerei from the Emmi Group and REDO, a real estate refurbishment services provider. These acquisitions contributed to the creation of a new "Retail & Food" segment within the company.
The company also highlighted its successful completion of six transactions during this nine-month period. Among them, the exit of SMP to Cogne Acciai Speciali and SABO Maschinenfabrik to management were significant events. The sale of SMP resulted in an inflow of approximately €150 million ($171 million), marking it as the most successful exit in Mutares' history.
Looking ahead, Mutares is planning for further growth by refinancing a €100 million bond maturing in 2027 and preparing for international expansion into China and the USA. The company is also expanding its industry focus with the addition of a fourth segment - "Retail & Food".
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