Mutares stock falls 1.65 percent as bond buyback begins
Published on 09/29/2026 at 06:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Mutares stock was last at EUR 23.90 on Xetra on September 28, 2026 at 5:35 p.m. CEST, down 1.65 percent from the prior close of EUR 24.30. The company began a partial bond buyback on September 29, giving the debt transaction immediate relevance for the equity story.
Bond offer starts at par
According to Mutares on September 25, 2026, the company will repurchase up to EUR 25.0 million nominal of its EUR 250.0 million 2023/2027 floating-rate bond at 100.00 percent of nominal value plus accrued interest. The offer period runs from September 29 through September 30, 2026, with settlement expected on October 2, 2026.
The transaction precedes a planned refinancing in the fourth quarter of 2026. For shareholders, the key issue is the balance between lower outstanding debt and the financing terms that will replace the bond.
EBITDA turns positive
Boerse Global reported on September 8, 2026 that Mutares lifted group revenue 9 percent to EUR 3.4 billion in the first half of 2026. Adjusted EBITDA changed from negative EUR 89 million in the prior-year period to positive EUR 67 million, a EUR 156 million improvement on the same measure.
The operating result is the sharper signal than revenue growth. It indicates that restructuring progress in portfolio companies is beginning to reach the group level, although the holding company still depends on successful integrations and exits to convert portfolio gains into cash earnings.
Guidance sets the next test
Mutares continues to target group revenue of EUR 7.9 billion to EUR 9.1 billion and holding net profit of EUR 165 million to EUR 200 million for fiscal year 2026, according to the company investor-relations dashboard dated September 2026. The 2025 comparison is EUR 6.5 billion of group revenue and EUR 130.4 million of holding net profit.
The next scheduled reporting date is November 12, 2026, when Mutares plans to publish its third-quarter 2026 results, as listed on the company investor-relations page. That release should show whether the first-half EBITDA improvement is continuing after the latest acquisitions and disposals.
Stock remains below yearly high
Mutares stock was last at EUR 23.90 on Xetra on September 28, 2026 at 5:35 p.m. CEST, with a session range of EUR 23.90 to EUR 24.45 and volume of 28,549 shares. The price stood 2.80 percent above the 52-week low of EUR 23.25 and 31.91 percent below the 52-week high of EUR 35.10.
Mutares stock at a glance
- Company: Mutares SE & Co. KGaA
- Ticker: MUX
- Trading venue: Xetra
- Price (as of September 28, 2026, 5:35 p.m. CEST): EUR 23.90
- Market capitalization: EUR 520.7 million (as of September 28, 2026)
- 52-week range: EUR 23.25-EUR 35.10 (as of September 28, 2026)
- Sector / Industry: Financial Services / Asset Management
- Index membership: SDAX
- Next earnings date: November 12, 2026
