MBB SE
MBB SE grows revenues by 13% to €427 million with €32 million EBITDA in the first half of the year and adjusts forecast EBITDA margin for 2023 to 8-10%

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MBB SE grows revenues by 13% to €427 million with €32 million EBITDA in the first half of the year and adjusts forecast EBITDA margin for 2023 to 8-10%

Berlin, 15 August 2023 – MBB SE (ISIN DE000A0ETBQ4), a medium-sized family-owned company, increased its revenues by 12.9% to €427.2m in the first half of 2023. Adjusted EBITDA declined by 16.2% to €31.9 million in the same period. The adjusted EBITDA margin improved during the first half of the year from 6.8% in the first quarter to 8.0% in the second quarter. However, at 7.5%, the adjusted EBITDA margin for the first half of the year was below expectations. Net Cash of the group reached €372.8 million at the end of the first half of the year, of which €331.7 million was attributable to the holding MBB SE.

The Service & Infrastructure segment increased its revenues by 7.5% to €207.9 million in the first half of the year. The energy infrastructure provider Friedrich Vorwerk made a particularly strong contribution, with revenue growth of 16.0% to €165.6 million. The IT security specialist DTS, on the other hand, reached revenues of € 42.9 million in the first half of the year, but was unable to match the unusually strong first half of the previous year. The segment’s EBITDA fell to €19.8 million, which corresponds to a margin of 9.5%. While DTS achieved an EBITDA margin of 14.5%, Friedrich Vorwerk’s EBITDA margin of 8.2% was significantly below the previous year. In addition to the expected cost pressure on materials and personnel, a large LNG projects contributed to lower profitability.

The Technological Applications segment grew by 21.8% to €167.1 million in revenues in the first half of the year. The adjusted EBITDA of the segment more than doubled to €12.6 million. The automation specialist Aumann made a substantial contribution to the segment’s positive development with growth of 29.0% to €119.0 million in revenues. Aumann’s adjusted EBITDA margin of 6.8% underpins the gradual increase in profitability, while the record order backlog of €313.6 million once again demonstrates the company’s excellent market position. Delignit also significantly boosted the growth of the segment with a 50.0% increase in revenues to €48.2 million and a doubling of EBITDA to €4.5 million. To finance further growth steps, Delignit successfully completed a capital increase with gross proceeds of €8.0 million on 12 July 2023.

The Consumer Goods segment increased revenues by 9.6% to €52.2 million in the first half of the year. However, the challenging economic conditions led to a decline in profitability at both Hanke Tissue and the mattress manufacturer CT Formpolster. In total, the segment therefore generated EBITDA of €0.0 million, which is due in particular to fluctuations in energy and raw material prices.

For the current financial year, MBB continues to expect revenues of €850-900 million. In light of the temporarily weaker profitability in the Service & Infrastructure and Consumer Goods segments, MBB now expects an adjusted EBITDA margin of 8-10 percent compared to its original forecast of 9-11 percent.

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

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