Mutares AG: Balcke-Dürr - successful turnaround in 2017 with significant growth potential in 2018

Mutares AG: Balcke-Dürr - successful turnaround in 2017 with significant growth potential in 2018

Düsseldorf, Germany. Mutares AG's (ISIN: DE000A0SMSH2) portfolio company Balcke-Dürr produces components to improve energy efficiency and reduce emissions for the energy sector and chemical industry and is part of the Mutares Group since December 2016.

After having accomplished successfully the turnaround milestones in 2017, including the closure of a site and streamlining of production at its central site, the order intake of Balcke-Dürr Group surpasses expectations considerably. Combined with the implemented sustainable structural changes, this development has led to management estimating for 2018 the first positive result for Balcke-Dürr Group since 2012. Due to the shift in strategy and major adjustments in the cost structure Balcke-Dürr expects stable growth in 2018, both organically as well as through acquisitions.

The first add-on transaction has already been completed in November 2017 when Donges SteelTec was acquired from Mitsubishi Hitachi Power Systems Europe (MHPSE). In January 2018, the second acquisition followed, when Balcke-Dürr signed an agreement to take over the Heat Transfer Products (HTP) Division of STF, a former direct competitor based in Italy.

For 2018, further add-on acquisitions are in the pipeline. Thus, management outlook for Balcke-Dürr through 2019 is strong, backed by the refocusing of activities combined with an attractive deal flow in this challenging market implying both organic growth and increasing market share.

Company profile of Mutares AG
Mutares AG, Munich (www.mutares.de), acquires medium-sized companies and parts of companies that are sold as part of a repositioning of the owner and have a clear potential for operational improvement. Mutares actively supports its portfolio companies with its own teams with the aim of achieving a significant increase in value. The focus is on the company's focus on sustainable growth. Mutares AG shares are traded on the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A0SMSH2).

For further information, please contact us:

Mutares AG
Soh-Pih Mariette Nikolai
Investor Relations & Corporate Communications
Tel. +49 89 9292776-0
Fax +49 89 9292776-22
ir@mutares.de
www.mutares.de