MBB SE increases revenues by 16% in the first half with a growing EBITDA margin of 10%

Berlin, 12 August 2022 - MBB SE (ISIN DE000A0ETBQ4), a medium-sized family business, increased its revenues by 16% to €378 million in the first half of 2022. Growth accelerated from 15% in the first quarter to 17% in the second quarter. Adjusted EBITDA in the first half of the year was down 6% year-on-year at €38 million, but this was mainly due to a weaker first quarter. In the second quarter, adjusted EBITDA was at €23 million, 11% higher year-on-year. The adjusted EBITDA margin increased from 9% in the first quarter to 11% in the second quarter and was thus 10% for the entire first half of the year.

The Service & Infrastructure segment increased its revenue by 13% to €194 million with an adjusted EBITDA margin of 16%. Friedrich Vorwerk was able to grow order intake by 142% to €252 million in the first half. Due to various simultaneous project ramp-ups, the integration of the Puhlmann Group and partially drastic material price increases, the EBITDA margin at 16% came in somewhat below expectations. DTS, an IT security specialist, grew very significantly by 32% in the first half and contributed revenues of €51 million to the Service & Infrastructure Segment. At the same time, DTS achieved EBITDA of €8 million, which corresponds to an EBITDA margin of 16%.

The Technological Applications segment grew its revenues by 16% to € 137 million in the first half of 2022. Thereof, Aumann achieved €92 million and thus increased revenues by 27%. Order intake increased by 59% and reached €166 million. In addition, the adjusted EBITDA at €3 million was significantly above the previous year and thus confirmed a gradual path of recovery of profitability. In the first half of the year, Delignit generated revenues of €32 million and was unable to match the previous year's revenues, but this was mainly driven by the first quarter. For the second quarter, revenues were slightly above the previous year’s level. The Consumer Goods segment increased revenues by 29% to €48 million in the first half of the year. While revenues grew by around 14% in the first quarter, growth of 45% was achieved in the second quarter.

MBB's balance sheet strength again paid off in the turbulent first half of 2022. Overall, the Group's liquidity at the end of the first half of the year was down on the previous year at €498 million and net liquidity of €419 million, which was due in particular to a temporary increase in working capital at Friedrich Vorwerk and growth investments. The holding company MBB SE also recorded net liquidity of €353m, down 10% on the previous year, due to extensive share buybacks, the increase in the Aumann stake and the value development of securities. Both the MBB subsidiaries and the holding company see this strong capitalization as a good basis for the acquisition of new companies. For the current financial year, MBB continues to expect revenue growth to more than €740 million at an EBITDA margin of at least 10%.

The full half-year 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. 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