MBB SE grows by 17% in the first quarter to €201 million in revenues with €14 million EBITDA

MBB SE grows by 17% in the first quarter to €201 million in revenues with €14 million EBITDA

Berlin, 15 May 2023 - MBB SE (ISIN DE000A0ETBQ4), a medium-sized family-owned company, grew its revenues by 16.6% to €200.8m in the first quarter of 2023. Adjusted EBITDA decreased by 7.0% to €13.8 million in the same period, corresponding to an EBITDA margin of 6.8%. Net liquidity reached €383.8 million at the end of the first quarter, of which €332.5 million was attributable to the holding MBB SE. For the 2023 financial year, MBB continues to expect revenues of €850 - €900 million with an adjusted EBITDA margin of 9% - 11%.

The Service & Infrastructure segment increased its revenues by 9.8% to €92.6 million in the first quarter. However, the adjusted EBITDA decreased by 36.7% to €8.8 million in the same period. Friedrich Vorwerk grew revenues by 25.2% to €73.1 million thanks to strong market demand in the energy infrastructure sector. However, the company's EBITDA margin fell to 7.6% due to a high proportion of project follow-up work. In contrast, the order intake of Friedrich Vorwerk developed extremely positively, reaching a new record value of €206.8 million in the first quarter. After an unusually strong quarter in the previous year due to postponement effects, the IT security specialist DTS recorded a decline in revenues to €19.8 million with a continued high EBITDA margin of 16.2%.

The Technological Applications segment was able to increase revenues by 21.0% to €80.2 million in the first quarter. The adjusted EBITDA of the segment rose significantly to €6.1 million, which corresponds to an EBITDA margin of 7.4%. The automation specialist Aumann grew by 24.2% to €55.7 million in revenues in the first quarter and almost tripled its adjusted EBITDA to €3.7 million. Delignit, a leading manufacturer of hardwood-based system solutions, also developed excellently in the first quarter and was able to increase its revenues by a high double-digit percentage, which led to a significant increase in profitability.

The Consumer Goods segment, which includes the mattress manufacturer CT Formpolster and the tissue products specialist Hanke, recorded a 29.8% increase in revenues to €28.3 million in the first quarter. Both companies were able to contribute to the increase in revenues with double-digit growth rates. The segment's EBITDA of €0.2 million remained roughly at the previous year's level. Hanke in particular was affected by high energy costs and raw material prices.

In view of the attractive valuation, MBB acquired treasury shares worth €4.5 million in the first quarter. At the same time, MBB increased its stake in Aumann to 48.0%. MBB also acquired further treasury shares worth €2.5 million in the second quarter as part of the share buyback programme completed at the end of April. All 224,359 treasury shares have since been cancelled by resolution of the Board, reducing the number of shares from 5,940,751 to 5,716,392.

The complete quarterly report 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
request@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