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MBB SE increases EBITDA by 24% in the first quarter despite lower revenues

Berlin, 25 May 2021 - MBB SE (ISIN DE000A0ETBQ4), a medium-sized family-owned company, increased its adjusted EBITDA by 24.0% to €19.6 million in the first quarter of 2021. The EBITDA margin reached 13.1%. Compared to the first quarter of the previous year, which was largely unaffected by Covid-19, turnover decreased by 12.6% to €150.2 million. The successful IPO of Friedrich Vorwerk Group SE in March 2021 led to a significant increase in Group liquidity to €598.0 million at the end of the quarter. Net cash rose to €511.4 million, of which €375.8 million was attributable to the holding company MBB SE.

The increased profitability of the MBB Group is in particular due to the positive development of the Service & Infrastructure segment, which comprises Friedrich Vorwerk and DTS. The segment's adjusted EBITDA rose by 33.7% year-on-year to €14.5 million in the first quarter of 2021. At €71.0 million, revenues in the segment were below the previous year due to a slower performance at Friedrich Vorwerk which was caused by less favourable weather conditions with more frost and rainy days. However, revenue realisation is expected to accelerate in the seasonally stronger summer months. At €65 million, order intake at Friedrich Vorwerk was 14.3% higher than in the same period last year, which underlines the company's excellent growth prospects.

In the Technological Applications and Consumer Goods segments, revenues were down year-on-year to €60.2 million and €19.0 million respectively due to Covid-19. In the Consumer Goods segment, for example, Hanke Tissue sold fewer printed napkins than in the previous year because of closed restaurants. In the Technological Applications segment, Aumann also recorded a decline in revenues, which had been expected against the background of the weak order intake in 2020. At the same time, Aumann's order intake in the first three months of 2021 increased by 31.8% to €50.5 million, reflecting the noticeably improved order situation, particularly in the field of e-mobility.

The full 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
[email protected]
www.MBB.com

Executive Management
Dr Christof Nesemeier (CEO)
Dr Constantin Mang
Klaus Seidel

Chairman of the Board
Gert-Maria Freimuth

Court of Registration
Berlin-Charlottenburg Local Court, registration number: HRB 165458