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OFFON

MUTARES SE & CO. KGAA

(MUX)
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PRESS RELEASE : Mutares SE & Co. KGaA: Fifth exit this year: Mutares has signed an agreement to sell Cenpa to Accursia Capital

07/12/2021 | 11:31am EDT
DGAP-News: Mutares SE & Co. KGaA / Key word(s): Disposal 
Mutares SE & Co. KGaA: Fifth exit this year: Mutares has signed an agreement to sell Cenpa to Accursia Capital 
2021-07-12 / 17:30 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Fifth exit this year: Mutares has signed an agreement to sell Cenpa to Accursia Capital 
Munich, 12 July 2021 - Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to sell its subsidiary Cenpa 
to Accursia Capital. The transaction is expected to close in Q3 2021. 
Cenpa is located in Schweighouse-sur-Moder, France and is a producer of coreboard for the European packaging and 
hygiene markets. The company was acquired by Mutares in 2016 from the Sonoco Group and today employs ca. 90 employees 
and is expected to generate revenues of approx. EUR 30 million in 2021. 
Mutares quickly and successfully restructured the company after its acquisition in 2016 and achieved a positive EBITDA 
and a positive cash flow over 2018-2020. The key turnaround levers were the strengthening of the staff, the commercial 
expansion to new geographies and the acquisition of new clients, the investment in a paper machine, the award of the 
environmental FSC(R) label, and the launch of new high-end products. Today Accursia wants to build on these measures to 
further strengthen Cenpa's market positioning. 
Robin Laik, CEO of Mutares, commented: "I am very proud of what our team together with the local management has 
achieved. With Accursia, we have found the best new owner who wants to strengthen and expand its packaging division." 
This marks the second transaction with Accursia Capital in the packaging industry after the sale of KLANN last year in 
May and underlines the smooth and professional transaction capacity of the Mutares team. The sale of Cenpa is one step 
forward towards the optimization of the Mutares portfolio in order to reach the Company's goal of growing Group 
revenues to EUR 3.0 billion by 2023. 
Company profile Mutares SE & Co. KGaA 
Mutares SE & Co. KGaA, Munich (www.mutares.com), as a listed private equity holding company with offices in Munich 
(HQ), Frankfurt, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies and parts of 
larger groups with headquarters in Europe that show a clear potential for operational improvement and are sold again 
after undergoing a repositioning and stabilization process. Mutares actively supports and develops its portfolio 
companies with its own investment and consulting teams as well as through acquisitions of strategic add-ons. With for 
aim a ROIC (Return on Invested Capital) of 7 to 10 times on the total investment with a focus on sustainable growth of 
the portfolio companies. In 2020, Mutares SE & Co. KGaA generated consolidated revenues of approx. EUR 1.6 billion 
employing more than 12,000 people worldwide. Based on this, consolidated revenues are expected to increase to 
approximately EUR 3.0 billion by 2023. Mutares is strongly committed to a sustainable dividend policy consisting of a 
base dividend and a performance dividend. The shares of Mutares SE & Co. KGaA are listed on the Frankfurt Stock 
Exchange under the ticker 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 
CROSS ALLIANCE communication GmbH 
Susan Hoffmeister 
Phone +49 89 125 09 0333 
E-mail: sh@crossalliance.de 
www.crossalliance.de 
Contact for press requests in France 
CLAI 
Gaëtan Commault - gaetan.commault@clai2.com / +33 06 99 37 65 64 
Dorian Masquelier - dorian.masquelier@clai2.com / +33 07 77 26 24 57 
 
=---------------------------------------------------------------------------------------------------------------------- 
2021-07-12 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      Mutares SE & Co. KGaA 
              Arnulfstr.19 
              80335 Munich 
              Germany 
Phone:        +49 (0)89-9292 776-0 
Fax:          +49 (0)89-9292 776-22 
E-mail:       ir@mutares.de 
Internet:     www.mutares.de 
ISIN:         DE000A2NB650 
WKN:          A2NB65 
Indices:      Scale 30 
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, 
              Tradegate Exchange 
EQS News ID:  1217925 
 
End of News   DGAP News Service 
=------------ 

1217925 2021-07-12

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1217925&application_name=news 
 

(END) Dow Jones Newswires

July 12, 2021 11:30 ET (15:30 GMT)

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Financials
Sales 2021 2 238 M 2 618 M 2 618 M
Net income 2021 237 M 277 M 277 M
Net Debt 2021 130 M 152 M 152 M
P/E ratio 2021 1,77x
Yield 2021 5,95%
Capitalization 421 M 493 M 493 M
EV / Sales 2021 0,25x
EV / Sales 2022 0,16x
Nbr of Employees 15 515
Free-Float 57,0%
Chart MUTARES SE & CO. KGAA
Duration : Period :
Mutares SE & Co. KGaA Technical Analysis Chart | MUX | DE000A2NB650 | MarketScreener
Technical analysis trends MUTARES SE & CO. KGAA
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 27,30 €
Average target price 31,38 €
Spread / Average Target 14,9%
EPS Revisions
Managers and Directors
Robin Laik Chief Executive Officer
Mark Friedrich Chief Financial Officer
Volker Rofalski Chairman-Supervisory Board
Christian Bardorsch Manager-Information Technology
Kristian Schleede Chief Operating & Restructuring Officer
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