MBB SE grows revenues by 8% to €691 million in the first nine months with an EBITDA margin of 7%
November 14, 2023 at 12:28 pm IST
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EQS-News: MBB SE
/ Key word(s): 9 Month figures
MBB SE grows revenues by 8% to €691 million in the first nine months with an EBITDA margin of 7%
14.11.2023 / 07:56 CET/CEST
The issuer is solely responsible for the content of this announcement.
MBB SE grows revenues by 8% to €691 million in the first nine months with an EBITDA margin of 7%
Berlin, 14 November 2023 - MBB SE (ISIN DE000A0ETBQ4), a medium-sized family business, increased its revenues by 8.2% to €691.0 million in the first nine months of 2023. Adjusted EBITDA fell by 29.8% to €49.6 million in the same period. The decline in the adjusted EBITDA margin to 7.2% is primarily due to one-off project-related costs at Friedrich Vorwerk. The MBB Group's net liquidity totalled €392.4 million after nine months, of which €320.6 million was attributable to the holding company MBB SE.
The Service & Infrastructure segment generated revenues of €350.0 million in the first nine months, corresponding to a year-on-year increase of 3.0%. The energy infrastructure provider Friedrich Vorwerk achieved revenue growth of 6.4% to €275.1 million. IT security specialist DTS returned to its long-term growth path in the third quarter after a weaker first half of the year. However, at €75.6 million, DTS revenues for the first nine months were still 7.2% down on the previous year. The segment's adjusted EBITDA fell by 44.6% to €31.2 million. At 14.3%, the EBITDA margin at DTS was slightly below the previous year. Friedrich Vorwerk recorded a significantly greater decline in profitability, with an adjusted EBITDA margin of 7.4%, which was adversely affected by a precautionary provision of €7.4 million for costs still to be expected in a plant construction project of the Natural Gas segment. Apart from a few older projects, which will largely be completed by the end of the year, the outlook for Friedrich Vorwerk is remarkably positive thanks to a record order backlog of €1,049 million. Particularly noteworthy in this context is the A-Nord project, which has an order value for Friedrich Vorwerk of around €600 million and is based on a "cost-plus incentive fee" remuneration structure with a bonus-malus clause.
The Technological Applications segment grew by 20.5% to €267.7 million in revenues in the first nine months. The segment's adjusted EBITDA more than doubled to €18.8 million. The automation specialist Aumann once again accelerated its growth to 32.7% in the first nine months and achieved revenues of €199.6 million. Order intake totalled €249.0 million in the same period, underlining the company's continued growth ambitions. The company's adjusted EBITDA rose to €14.0 million, which corresponds to an EBITDA margin of 7.0%. In view of the strong market demand and the order backlog of €308.9 million, Aumann has raised its revenue forecast for the current financial year from over €250 million to over €280 million and expects to reach an EBITDA margin at the upper end of the previously forecast range of 6-7%. The acquisition of LACOM on 1 November 2023 gives Aumann technological access to upstream processes in the manufacturing of battery and fuel cells. In the area of fuel cells, Aumann is thus in a position to offer production solutions along the entire value chain, and in the area of battery systems, Aumann is expanding its existing portfolio to include coating systems for electrode production.
In light of weaker market demand, The Consumer Goods segment recorded revenues of €73.4 million in the first nine months of 2023, down 4.5% on the previous year. Due to the high volatility in raw material and energy prices, the segment's adjusted EBITDA was only breakeven, while the EBITDA margin in the previous year was 6.4%.
For the current financial year, MBB continues to expect revenues of €850-900 million and an EBITDA margin at the lower end of the forecast range of 8-10%.
The full quarterly statement is available at www.mbb.com.
MBB SE
Joachimsthaler Straße 34
10719 Berlin
Tel +49 30 844 15 330
Fax +49 30 844 15 333
office@mbb.com
www.mbb.com
Executive Management
Dr. Constantin Mang (CEO)
Dr. Jakob Ammer
Torben Teichler
Chairman of the Board and Executive Director
Dr. Christof Nesemeier
Court of Registration
Berlin-Charlottenburg Local Court, registration number: HRB 165458
14.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Language:
English
Company:
MBB SE
Joachimsthaler Strasse 34
10719 Berlin
Germany
Phone:
+49 (0) 30 844 15 330
Fax:
+49 (0) 30 844 15 333
E-mail:
anfrage@mbb.com
Internet:
www.mbb.com
ISIN:
DE000A0ETBQ4
WKN:
A0ETBQ
Indices:
PXAP
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
MBB SE, formerly MBB Industries AG, is a German-based private equity firm specializing in acquisitions of established medium-sized industrial companies. The Company makes investments in entities seeking to sell off a part of their business or the entire operation, perhaps as part of a succession process; selling a subdivision or an affiliated entity that no longer forms part of the organization's core business, and seeking for a management buyout or buy-in. It targets investments in firms with turnovers of 10 million euros and above. Its portfolio consists of Aumann AG, specializing in e-mobility, coil winding and automation, CT Formpolster GmbH, a producer of flexible polyurethane foams, Delignit AG, a supplier of ecological hardwood-based materials, DTS IT AG, a cloud computing and cyber security provider, Hanke Tissue Spolka Z O.O., a producer of tissue paper, and OBO-Werke GmbH, a supplier of products for model construction, toolmaking and mould production, among others.