Half-Year Financial Report 30 June 2022

Aumann AG, Beelen

Aumann in figures

Half-year	2022	2021	∆ 2022 /
(unaudited)			2021
	IFRS	IFRS
	€ k	€ k	%
Order backlog	249,245	134,419	85.4
Order intake	165,582	104,058	59.1
Earning figures
Revenue	92,234	72,761	26.8
thereof E-mobility	58,327	45,997	26.8
Operating performance	92,300	72,889	26.6
Total performance	95,392	77,038	23.8
Cost of materials	-60,440	-44,402	-36.1
Staff costs	-28,150	-30,110	6.5
EBITDA	3,038	-931	426.3
EBITDA margin	3.3%	-1.3%
EBIT	567	-3,219	117.6
EBIT margin	0.6%	-4.4%
EBT	241	-3,471	106.9
EBT margin	0.3%	-4.8%
Consolidated net profit	79	-2,588	103.1
Earning figures (adjusted) *	€ k	€ k	%
Adj. EBITDA	2,972	-932	418.9
Adj. EBITDA-Marge	3.2%	-1.3%
Adj. EBIT	532	-3,189	116.7
Adj. EBIT-Marge	0.6%	-4.4%
Adj. EBT	206	-3,441	106.0
Adj. EBT-Marge	0.2%	-4.7%

Figures from the statement	30 Jun	31 Dec
of financial position	€ k	€ k	%
Non-current assets	81,134	114,158	-28.9
Current assets	211,573	184,323	14.8
there of cash and equivalents	97,283	103,258	-5.8
Issued capital (share capital)	15,250	15,250	0.0
Other equity	168,776	174,097	-3.1
Total equity	184,026	189,347	-2.8
Equity ratio	62.9%	63.4%
Non-current liabilities	31,251	32,528	-3.9
Current liabilities	77,430	76,606	1.1
Total assets	292,707	298,481	-1.9
Net debt (-) or
net cash (+) **	86,464	90,318	-4.3

Employees	790	850	-7.1

* For details on adjustments please refer to financial position and financial performance.

** This figure includes securities.

Rounding differences can occur in this report with regard to percentages and figures.

Aumann in figures	1
Contents	2
Welcome note from the Executive Board	3
Interim Group management report	4
Description of the business model	4
Business and economic conditions	4
Market development	4
Financial position and financial performance	5
Segment performance	5
Employees	6
Report on risks and opportunities	6
Report on expected developments	6
IFRS interim consolidated financial statements for 2022	7
Notes to the interim consolidated financial statements	12
Accounting	12
Accounting policies	12
Goodwill	12
Segment reporting	12
Changes in contingent liabilities	13
Related party transactions	13
Events after the end of the reporting period	13
Review	13
Responsibility statement	13
Financial calendar	14
Contact	14
Legal notice	14

Welcome note from the Executive Board

Dear Shareholders,

thanks to our successful E-mobility strategy and a record high order backlog of around €250 million, we already have the revenue for the coming twelve months on our books. That is important for two reasons. First, the world has rarely been as unpredictable as it is today. After the COVID-19 pandemic, Russia's unspeakable war of aggression on Ukraine now poses special challenges for every company. These manifest themselves as continuing supply shortages, significantly increased inflation rates or endangered energy supplies. Second, this outstanding order backlog puts us in the comfortable position of being able to stay on our strategic course in spite of all challenges.

This means that we will continue to expand our capacities and competences in the course of our growth path. It is also our ambition to continue to demonstrate the rising profitability of the company. In addition, we have our finger on the pulse of technology and are often even one step ahead. As an established turnkey supplier, Aumann provides the production solutions for all key components of electromobility and thus secures the production capacities required by the automotive industry. Orders acquired in the first half of 2022 for large-scale production lines for battery packs and battery modules contributed to the positive business development. The same applies to technologically innovative production solutions for the cell-to-pack process. In the hydrogen field of competence, Aumann's experience in fuel cell production helped it win its first order for a series production plant in the field of electrolysis, i.e. the process of generating hydrogen from electrical energy. We are proud that Aumann is continuing to expand its market position here as well.

The business figures illustrate Aumann's success. Order intake increased by 59.1% to €165.6 million in the first half of the year. The E-mobility segment was again the clear growth driver, with a year-on-year increase of 70.4% to €127.8 million. Over the past four quarters, order intake has totalled €298.1 million, giving Aumann a record order backlog as of 30 June 2022, up 85.4% year-on-year to €249.2 million. In the E-mobility segment, the order backlog even jumped by 142.3% to €189.3 million. Revenue followed the dynamic order development of the preceding quarters and improved by 26.8% to €92.2 million in the first six months despite challenging market conditions. EBITDA increased to €3.0 million. The EBITDA margin rose to 3.3% and developed in line with the expected gradual improvement in profitability.

We are convinced that the success of electromobility will continue. The market share of electric vehicles is growing continuously, the charging infrastructure is being expanded consistently and numerous factories for battery production are under construction. In this environment, the highest order backlog in the company's history confirms Aumann's very good strategic and technological positioning. At the same time, it gives visibility with regard to the growth path taken until well into next year. A liquidity position of €97.3 million and an equity ratio of 62.9% also secure the company's growth prospects.

We hope that you will continue to support us in the current environment and move forward with us in the growth market of electromobility. Thank you very much.

Sincerely,

Sebastian Roll Jan-Henrik Pollitt Chief Executive Officer Chief Financial Officer

Interim Group management report

Description of the business model

Aumann is a world-leading manufacturer of innovative speciality machinery and automated production lines with a focus on E-mobility. With its German sites in Beelen, Espelkamp and Limbach-Oberfrohna in Europe, the Chinese company in Changzhou and a site in Clayton in the US, the Aumann Group has five locations in its three most important markets. The entire automotive industry is undergoing a continuous transformation that is taking it away from the complex mechanical drive concept centred on the combustion engine towards a significantly more streamlined electric drive concept. Accordingly, Aumann geared its strategy and its portfolio towards the needs of the E-mobility megatrend a number of years ago. Aumann's product solutions enable the highly efficient and technologically advanced series production of a wide range of components and modules. These include energy storage and conversion systems (battery and fuel cell), the electric traction modules, power-on-demand units, auxiliary motors as well as electronic components for sensor and control applications.

Business and economic conditions

The geopolitical situation and the economic environment deteriorated in the course of 2022. The global economy, already reeling from the COVID-19 pandemic, experienced an additional shock with the start of the war in Ukraine. Continuing supply bottlenecks, significantly higher inflation rates or potentially endangered energy supplies have resulted in an ongoing slowdown in the growth of the global economy, are fuelling fears of recession and weighing on business and consumer sentiment.

Growth rates in terms of gross domestic product (GDP) melted away worldwide in the second quarter of 2022. According to data from the Eurostat statistics office, the countries of the euro area showed weaker growth rates in the second quarter of 2022 already, but were still able to grow by 0.7% compared to the previous quarter. The Spanish economy grew at a comparatively high rate of 1.1%. In Italy, GDP rose by 1.0% and in France by 0.5%. While GDP in Germany grew slightly by 0.8% in the first quarter, in the second quarter the German economy did not go beyond stagnation compared to the first quarter. The US economy even slipped into a technical recession in the second quarter, with GDP declining again by -0.2%. Economic output in China even fell by 2.6% in the second quarter of 2022 compared to the previous quarter.

The increased uncertainties regarding global economic activity are also reflected in the current forecasts of the International Monetary Fund (IMF), which again reduced its growth forecasts in July. For the global economy, GDP growth of only 3.2% is expected for 2022 (previously 3.6%). For 2023, the forecast was reduced from 3.6% to 2.9%. According to the IMF economists, the USA will only be able to achieve economic growth of 2.3% in 2022 and 1.0% in 2023. The forecasts for the Eurozone have been lowered to 2.6% and 1.2% for the same periods, and growth of only 3.3% and 4.6% is expected for China. In addition, the IMF stresses in its communication that there are additional significant economic downside risks, such as the risk of a halt in Russian gas supplies, which could further reduce global growth.

The aforementioned negative factors are also leaving clear traces in the general industrial sector, as the example of German machinery manufacturers shows. According to figures from the German Engineering Federation (VDMA), the association's companies generated an average increase in orders of just over 2% in the first half of 2022. The VDMA summarises the situation as follows: although many customers are still investing in new machinery and equipment, restraint is increasing. Confirming this, order intakes in June fell by 9% in real terms compared to the same month last year. Domestic orders were down 11%, while orders from abroad fell by 8%.

Market development

The general conditions for the automotive industry have deteriorated significantly since the beginning of the year. The Association of the Automotive Industry (VDA) summarises that the difficult availability of primary products and raw materials, especially the shortage of semiconductors, continues to determine the markets. In addition, rising prices and the interest rate turnaround in the USA and Europe are worsening the financing conditions for consumers. The VDA's forecast is correspondingly cautious. For the global market, the VDA expects a volume of 70.2 million passenger cars (-1%) for the current year. Previously, slight growth of 1% had been expected. With the new figures, the market volume of the pre-Corona year 2019 will be undercut by 13% and the volume of the record year 2017 by as much as 17%.

At first glance, the registration figures in the first half of 2022 confirm the weakness. In total across all powertrain segments, new registrations in the EU fell by 14.0% in the first half of 2022 compared to the previous year, totalling around 4.6 million units according to figures from the European Automobile Manufacturers' Association (ACEA). All major markets in the region recorded double-digit declines: Italy (-22.7%), France (-16.3%), Germany (-11.0%) and Spain (-10.7%).

A more differentiated view, however, shows a completely different picture for the sales figures for alternative forms of propulsion. Contrary to the generally declining market trend, the markets for electric vehicles have grown again. According to calculations by the Center of Automotive Management (CAM), 11.6% of all new registrations in Europe in the first half of the year were purely electric vehicles. In the same period in 2021, the figure was 7.6%. Within Europe, Germany was the largest single market with 167,503 battery electric vehicles (BEVs) and an increase of 12.5%. It was followed by the United Kingdom (115,249 BEVs, +56.0%), France (93,344 BEVs, +28.7%) and Norway (54,177 BEVs, +12.7%). The US BEV market increased by 78.2% in the first half of 2022 compared to the same period in 2021. In China, NEV (battery electric vehicles and plug-in hybrids) sales total 2.467 million vehicles in the current year, a significant increase of 122.9% compared to the first half of 2021.

Financial position and financial performance

The consolidated revenue of the Aumann Group increased by 26.8% and amounted to €92.2 million (previous year: €72.8 million).

EBITDA as of June 2022 amounted to €3.0 million (previous year: €-0.9 million). After depreciation and amortisation of €2.5 million, the Aumann Group's EBIT amounted to €0.6 million (previous year: €-3.2 million). The financial result for the first six months was €-0.3 million, resulting in EBT of €0.2 million (previous year: € -3.5 million). The consolidated net profit for the year amounted to 0.1 million (previous year: €-2.6 million) or €0.01 per share (based on 15,250,000 shares outstanding) in the first six months.

In the 2020 financial year, special write-offs were made on property, plant and equipment as part of the restructuring measures to reduce the depth of production, which are shown in the adjusted EBIT and improve earnings. In the reporting period, other operating income was generated from the sale of some of these tangible assets. For this reason, an opposite effect in the amount of €437.8 thousand is shown in the adjusted EBITDA with a negative impact on the result. In connection with the stock option programme, personnel expenses of €372.1 thousand were adjusted (previous year: €0 thousand). The adjusted EBITDA thus amounted to € 3.0 million (previous year: €-0.9 million). In addition, depreciation on assets capitalised as part of the purchase price allocation of Aumann Limbach-Oberfrohna GmbH was adjusted in the amount of €30.5 thousand. The adjusted EBIT was thus €0.5 million (previous year: €-3.2 million).

Order intake until June 2022 amounted to €165.6 million. The order backlog reached a total of €249.2 million as at 30 June 2022.

The Group's equity amounted to €184.0 million as at 30 June 2022 (€189.3 million as at 31 December 2021). In relation to the consolidated balance sheet total of €292.7 million, the equity ratio was 62.9 %.

Working capital decreased by €5.2 million since 31 December 2021.

Due to the reclassification of an unused plot of land and building, for which a sale process is currently underway and a declaration of intent to purchase has been received, the non-current assets held for sale increased to €1.8 million as at 30 June 2022 (€0.0 million as at 31 December 2021).

Financial liabilities fell by €2.1 million and amounted to €10.8 million as at 30 June 2022 (€12.9 million as at 31 December 2021). Liquidity reached €97.3 million (€103.3 million as at 31 December 2021). Net cash, i.e. the balance of the aforementioned liabilities and cash positions, thus amounted to €86.5 million compared to €90.3 million on 31 December 2021.

Against the background of the current economic uncertainties, Aumann AG has sold its entire portfolio of shares and securities. In the consolidated cash flow statement, these effects are shown in the cash flow from investing activities.

Segment performance

Given their different market prospects, Aumann differentiates between the E-mobility and Classic segments, which are described in more detail below.

In the E-mobility segment, Aumann primarily manufactures special machinery and automated production lines with a focus on the automotive industry. Aumann's offerings enable customers to mass produce a wide range of individual components and modules of the electrified powertrain in a highly efficient and technologically advanced manner. These range from various energy storage systems and the e-traction motor to power-on-demand units and electronic components. A particular strategic focus for Aumann is on highly automated production lines for the manufacture of energy storage and conversion systems such as the battery and the fuel cell, where Aumann has already implemented sophisticated production and assembly solutions with renowned customers. Another strategic focus is on production lines for electric motor components and their assembly, which enable large-scale production through production solutions with innovative and efficient process steps. Highly specialised and in some cases unique winding and assembly technologies are used to insert copper wire into electrical components. Renowned customers in the automotive industry use Aumann technology to manufacture their latest generations of energy storage systems, e-traction motors and e-auxiliary motors in large series and with the highest quality.

In the E-mobility segment, revenue as at 30 June 2022 rose by 26% to €58.3 million compared to the same period of the previous year. The segment's EBITDA after six months amounted to €2.5 million (previous year: €-1.2 million). EBIT was €0.9 million (previous year: €-2.6 million). Order intake in the Emobility segment reached €127.8 million.

In the Classic segment, Aumann mainly manufactures special machinery and automated production lines for the automotive, consumer electronics, household appliance and other industries. Aumann's solutions include systems for the production of drive (including built camshafts, camshaft modules and cylinder deactivation modules) and lightweight components that reduce CO2 emissions from vehicles with internal combustion engines. Based on its broad product and process knowledge from the automotive industry, Aumann is also a sought-after supplier of highly automated manufacturing and assembly solutions for customers from other industries.

In the first two quarters of the year, revenue in the Classic segment was €33.1 million (previous year: €26.8 million). The EBITDA of the segment amounted to €1.6 million compared to the previous year's value of €-0.6 million. EBIT amounted to €0.7 million (previous year: €-1.3 million). Order intake in the Classic segment reached €37.8 million.

Employees

Not including temporary employees or trainees, the number of employees was 790 as at 30 June 2022.

Report on risks and opportunities

Opportunities and risks for the business development of the Aumann Group are described in the Group management report for the financial year 2021, which is available on our website www.aumann.com. The assessment in this regard remains unchanged. Aumann's risk management system is designed to identify risks at an early stage and take immediate action.

The impact of the Russian war of aggression in Ukraine on the Aumann Group is mainly indirect, as Aumann currently has no direct supply relationships with Russian or Ukrainian business partners. Nevertheless, the subsidiary companies of Aumann Group are partially affected by the indirect consequences of the war, such as increased energy costs and international supply bottlenecks. In the event that gas supplies to companies were to be rationed or interrupted in the coming winter, we currently expect that Aumann would be affected to a lesser extent and that the situation would remain manageable.

Report on expected developments

In view of the good order situation, management expects the company to achieve an increase in revenue to over €200 million in 2022. Although the profitability of the order book is still partly affected by the challenging market situation of the last two years, management expects the EBITDA margin to increase to 4-5% in 2022. The company will thus gradually return to profitability over the course of the financial year and expand its capacities again.

This forecast is based on the fact that Aumann currently has no direct supply relationships with Russian or Ukrainian business partners and the assumption that the war in Ukraine will not escalate further.

Beelen, 12 August 2022

Sebastian Roll Jan-Henrik Pollitt Chief Executive Officer Chief Financial Officer

IFRS consolidated statement of comprehensive income	1 Jan -	1 Jan -
(unaudited)	30 Jun 2022	30 Jun 2021
	€ k	€ k
Revenue	92,234	72,761
Increase (+) / decrease (-) in finished goods
and work in progress	66	128
Operating performance	92,300	72,889
Capitalised development costs	1,224	828
Other operating income	1,868	3,321
Total performance	95,392	77,038
Cost of raw materials and supplies	-52,260	-35,727
Cost of purchased services	-8,181	-8,675
Cost of materials	-60,440	-44,402
Wages and salaries	-22,109	-23,173
Social security
and pension costs	-6,041	-6,937
Staff costs	-28,150	-30,110
Other operating expenses	-3,763	-3,457
Earnings before interest, taxes, depreciation,
and amortisation (EBITDA)	3,038	-931
Amortisation and depreciation expense	-2,471	-2,288
Earnings before interest and taxes (EBIT)	567	-3,219
Other interest and similar income	3	52
Interest and similar expenses	-329	-304
Net finance costs	-326	-252
Earnings before taxes (EBT)	241	-3,471
Income tax expense	-72	951
Other taxes	-89	-68
Consolidated net profit	79	-2,588
Earnings per share (in €) - undiluted	0.01	-0.17
Earnings per share (in €) - diluted	0.00	-0.17

IFRS interim consolidated financial statements for 2022

IFRS consolidated statement of comprehensive income	1 Jan -	1 Jan -
(unaudited)	30 Jun 2022	30 Jun 2021
	€ k	€ k
Consolidated net profit	79	-2,588
Currency translation differences	165	196
Fair Value Reserve	-4,232	3,115
Other comprehensive income after taxes	-4,067	3,311
Comprehensive income for the reporting period	-3,988	723

Statement of financial position	30 Jun 2022	31 Dec 2021
Assets (IFRS)	unaudited	audited
	€ k	€ k
Non-current assets
Own produced intangible assets	10,387	9,945
Concessions, industrial property rights and similar rights	2,634	2,909
Goodwill	38,484	38,484
Advance payments	0	0
Intangible assets	51,505	51,338
Land and buildings
including buildings on third-party land	22,011	24,348
Technical equipment and machinery	2,562	2,817
Other equipment, operating and office equipment	2,387	2,599
Advance payments and assets under development	461	416
Property, plant and equipment	27,421	30,180
Financial assets	0	30,442
Deferred tax assets	2,208	2,198
	81,134	114,158
Current assets
Raw materials and supplies	1,744	1,254
Work in progress	2,471	2,084
Finished goods	0	0
Advance payments	9,384	5,493
Inventories	13,599	8,831
Trade receivables	24,607	26,469
Receivables from construction contracts	72,465	73,942
Other current assets	1,774	2,265
Trade receivables
and other current assets	98,846	102,676
Securities	0	61
Cash in hand	9	8
Bank balances	97,274	72,747
Cash in hand, bank balances	97,283	72,755
Non-current assets held for sale	1,845	0
	211,573	184,323
Total assets	292,707	298,481

Statement of financial position	30 Jun 2022	31 Dec 2021
Equity and liabilities (IFRS)	unaudited	audited
	€ k	€ k
Equity
Issued capital	15,250	15,250
Capital reserve	141,304	141,112
Retained earnings	27,472	32,985
	184,026	189,347
Non-current liabilities
Pension provisions	20,524	20,524
Liabilities to banks	7,095	8,274
Liabilities from Leasing	248	364
Other provisions	1,205	1,100
Other liabilities	839	897
Deferred tax liabilities	1,341	1,369
	31,251	32,528
Current liabilities
Liabilities to banks	2,991	3,718
Liabilities from Leasing	485	584
Contractual obligations	29,551	23,574
Trade payables	23,268	21,023
Other liabilities	3,449	5,126
Restructuring provisions	0	214
Provisions with the nature of a liability	7,441	7,771
Tax provisions	651	654
Other provisions	9,593	13,942
	77,430	76,606
Total equity and liabilities	292,707	298,481

Consolidated statement of cash flows	1 Jan -	1 Jan -
(unaudited)	30 Jun 2022	30 Jun 2021
	€ k	€ k
1. Cash flow from operating activities
Earnings before interest and taxes (EBIT)	567	-3,219
Adjustments for non-cash transactions
Write-downs on non-current assets	2,471	2,288
Increase (+) /decrease (-) in provisions	-4,459	-97
Losses (+) / Gains (-) for disposal of assets	-314	0
Other non-cash expenses / income	276	-808
	-2,026	1,383
Change in working capital:
Increase (-) / decrease (+) in inventories, trade receivables
and other assets	-935	1,697
Decrease (-) / increase (+) in trade payables
and other liabilities	6,157	4,223
	5,222	5,920
Income taxes paid (-) / received (+)	-194	358
Interest received	3	52
	-191	410
Cash flow from operating activities	3,572	4,494
2. Cash flow from investing activities
Investments (-) / divestments (+) intangible assets	-1,272	-1,711
Investments (-) / divestments (+) property, plant and equipment	-4	-232
Investments (-) / divestments (+) of available-for-sale financial
assets and securities	26,271	-7,117
Cash flow from investing activities	24,995	-9,060
3. Cash flow from financing activities
Profit distribution to shareholders	-1,525	0
Proceeds from borrowing financial loans	138	0
Repayments of financial loans	-2,384	-2,190
Interest payments	-329	-304
Cash flow from financing activities	-4,100	-2,494
Cash and cash equivalents at end of period
Change in cash and cash equivalents
(Subtotal 1-3)	24,467	-7,060
Effects of changes in foreign exchange rates (non-cash)	60	62
Cash and cash equivalents at start of reporting period	72,756	69,451
Cash and cash equivalents at end of period	97,283	62,453
Composition of cash and cash equivalents
Cash in hand	9	9
Bank balances	97,274	62,444
Reconciliation to liquidity reserve on 30 June	2022	2021
Cash and cash equivalents at end of period	97,283	62,453
Securities	0	31,926
Liquidity reserve on 30 June	97,283	94,379

Sta f c in i ity ite ha l da d e ( d d ) tem t o te en ng es co nso q u un au
			ine ing Re d e ta arn s
	Iss d ue	Ca ita l p	Cu rre ncy	Fa ir Va lue Re	Pe ion ns re -	Ge d c rat ne e on -	Co l i da d te nso
	ita l ca p	res erv e	lat ion tra ns d i f fer en ce	se rve	se rve	l i da d e ity te so q u	ity eq u
	€ k	€ k	€ k	€ k	€ k	€ k	€ k
1 Jan 2 0 21	15 25 0 ,	14 0, 9 1 8	-1 0 9	2, 9 47	-3, 9 0 1	3 1, 2 3 3	1 8 6, 3 3 8
div ide Pay ed nd	0	0	0	0	0	0	0
Su bto l ta	25 0 15 ,	0, 9 8 14 1	0 9 -1	2, 9 47	-3, 9 0 1	3 2 3 3 1,	8 3 3 8 1 6,
Am ise d in her reh ive inc ts r ot oun eco gn co mp ens om e	0	0	0	3, 11 5	0	0	3, 11 5
Cu nsl atio n d iffe tra rre ncy ren ce	0	0	19 6	0	0	0	19 6
Co lida ted rof it t p nso ne	0	0	0	0	0	-2, 8 8 5	-2, 8 8 5
l c he ive inc To ta om p re ns om e	0	0	1 97	3, 11 5	0	-2, 5 8 9	7 2 3
3 0 Ju 2 0 21 n	15 25 0 ,	14 0, 9 1 8	8 8	6, 0 6 2	-3, 9 0 1	2 8, 6 44	1 87 0 6 1 ,
1 Jan 2 0 2 2	15 25 0 ,	14 1, 11 2	4 0 4	1 0, 16 0	-2, 65 2	25 07 3 ,	1 8 9, 3 47
Pay ed div ide nd	0	0	0	0	0	-1, 5 25	-1, 5 25
Su bto l ta	15 25 0 ,	14 1, 11 2	4 0 4	1 0, 16 0	-2, 65 2	2 3, 4 8 5	1 87 8 2 2 ,
ise d in ive inc Am her reh ts r ot oun eco gn co mp ens om e	0	19 2	0	-4, 23 2	0	0	-4, 0 4 0
Cu nsl atio n d iffe tra rre ncy ren ce	0	0	65 1	0	0	0	65 1
Co lida rof it ted t p nso ne	0	0	0	0	0	8 0	8 0
To l c he ive inc ta om p re ns om e	0	1 9 2	16 5	-4, 2 3 2	0	7 9	-3, 7 95
3 0 Ju 2 0 2 2 n	15 25 0 ,	14 1, 3 0 4	5 6 9	5, 9 2 8	-2, 65 2	2 3, 6 27	1 8 4, 0 26

Notes to the interim consolidated financial statements

Accounting

The interim financial report of the Aumann Group for the period 1 January 2022 to 30 June 2022 was prepared on the basis of the International Financial Reporting Standards (IFRS) published by the International Accounting Standards Board (IASB) as adopted in the EU. It was prepared in accordance with IAS 34.

Accounting policies

The accounting policies adopted are the same as those applied in preparing the consolidated financial statements as at 31 December 2021. The preparation of the financial statements is influenced by accounting policies and assumptions and estimates affecting the amount and reporting of recognised assets, liabilities, contingent liabilities and income and expense items. Matters relating to revenue are deferred intra-year.

Goodwill

The carrying amount of goodwill is unchanged at €38,484 thousand (31 December 2021: €38,484 thousand).

Segment reporting

The Aumann Group's management classifies the segments as described in the interim Group management report.

1 Jan - 30 Jun 2022 (unaudited)	Classic	E-mobility	Reconciliation	Group
	€ k	€ k	€ k	€ k
Order backlog	59,984	189,259	2	249,245
Order intake	37,754	127,828	0	165,582
Revenue from third parties	33,103	58,327	805	92,234
EBITDA	1,580	2,520	-1,062	3,038
Amortisation and depreciation	-860	-1,578	-34	-2,471
EBIT	720	942	-1,096	567
Financial result	-60	-77	-189	-326
EBT	660	865	-1,285	241
EBITDA-Margin	4.8%	4.3%	0.0%	3.3%
Trade receivables and
Receivables from construction contracts	32,564	58,791	5,717	97,072
Contractual obligations	9,120	20,431	0	29,551

1 Jan - 30 Jun 2021 (unaudited)	Classic	E-mobility	Reconciliation	Group
	€ k	€ k	€ k	€ k
Order backlog	56,306	78,113	0	134,419
Order intake	29,050	75,008	0	104,058
Revenue from third parties	26,764	45,997	0	72,761
EBITDA	-564	-1,157	790	-931
Amortisation and depreciation	-774	-1,483	-31	-2,288
EBIT	-1,338	-2,640	759	-3,219
Financial result	23	-281	6	-252
EBT	-1,315	-2,921	765	-3,471
EBITDA-Margin	-2.1%	-2.5%		-1.3%
Trade receivables and
Receivables from construction contracts	39,729	61,830	0	101,559
Contractual obligations	8,879	6,837	0	15,716

Changes in contingent liabilities

There were no changes in contingent liabilities as against 31 December 2021.

Related party transactions

Business transactions between consolidated Group companies and other companies of the MBB Group are conducted at arm's-length conditions.

Events after the end of the reporting period

There were no significant events after the end of the reporting period.

Review

The condensed interim consolidated financial statements as at 30 June 2022 and the interim Group management report were neither audited in accordance with section 317 of the Handelsgesetzbuch (HGB – German Commercial Code) nor reviewed by an auditor.

Responsibility statement

To the best of our knowledge, and in accordance with the applicable reporting principles for interim financial reporting, the interim consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the interim management report of the Group includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal opportunities and risks associated with the expected development of the Group.

Beelen, 12 August 2022

Sebastian Roll Jan-Henrik Pollitt

Chief Executive Officer Chief Financial Officer

Financial calendar

Half-Year Financial Report 2022 12 August 2022

Interim Statement Q3 2022 11 November 2022

End of Financial Year 31 December 2022

Contact

Aumann AG Dieselstrasse 6 48361 Beelen Germany

Tel. +49 2586 888 7800 www.aumann.com [email protected]

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