MBB : increases EBITDA by 24% in the first quarter despite lower revenues
May 25, 2021 at 02:17 am EDT
Share
Disclosure of inside information acc. to Article 17 MAR
MBB SE increases EBITDA by 24% in the first quarter despite lower revenues
Berlin, 25 May 2021 - MBB SE (ISIN DE000A0ETBQ4), a medium-sizedfamily-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.
Berlin-Charlottenburg Local Court, registration number: HRB 165458
Attachments
Original document
Permalink
Disclaimer
MBB SE published this content on 25 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2021 06:16:02 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.
MBB SE 
