MBB : adjusts annual forecast excluding effects from its latest acquisition
July 12, 2019 at 03:05 pm EDT
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MBB SE adjusts annual forecast excluding effects from its latest acquisition
Berlin, 12 July 2019 - MBB SE (ISIN DE000A0ETBQ4) adjusts its forecast for 2019 due to the forecast adjustment by Aumann AG announced on 10 July 2019. Excluding the acquisition of Friedrich Vorwerk KG (GmbH & Co.), which is currently pending to be closed, revenues are now estimated at more than €500 million. Excluding the latest acquisition, the EBITDA forecast now amounts to €50 million and may be reduced to €44 million depending on the further market situation at Aumann.
The acquisition of 60% of the shares in Friedrich Vorwerk KG (GmbH & Co.) on 20 June 2019 is still subject to approval by German antitrust authorities for formal reasons. As the date of initial consolidation has therefore not yet been determined and MBB is currently in the process of estimating the effects of Vorwerk's transition to IFRS, the acquisition has not yet been included in the annual forecast. However, MBB expects a positive correction of the current forecast as soon as the acquisition is closed and the initial consolidation effects can be estimated. Together with Vorwerk, MBB would have already generated a consolidated revenue of more than €600 million at an EBITDA margin of more than 10% in the previous financial year.
Berlin-Charlottenburg Local Court, registration number: HRB 165458
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MBB SE published this content on 12 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 July 2019 19:04:03 UTC
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.
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