Mutares Lists Steyr Motors on Frankfurt Exchange

Mutares SE & Co. KGaA has successfully taken Steyr Motors public, marking its sixth exit in 2024. The debut happened on the Frankfurt Stock Exchange's Scale segment, with shares initially priced at EUR 15.90, resulting in a market cap of EUR 82.7 million. This move involved placing 1,110,000 shares with institutional investors at EUR 14 each, generating EUR 15.5 million in placement volume. Mutares now holds a 70.9% stake, continuing as the majority shareholder.

Under Mutares’ leadership, Steyr Motors achieved notable financial turnaround, reaching a 24% adjusted EBIT margin in the first nine months of 2024. Around 60% of its revenue comes from defense applications. Anticipated revenue for Steyr Motors in 2024 is EUR 41-45 million with an adjusted EBIT of EUR 9-11 million. Expectations for 2025 include a 40% revenue growth.

This strategic move not only bolsters Steyr’s growth potential but also reflects Mutares’ effective value creation strategy. Increased defense budgets globally are expected to further enhance future orders.