Aumann AG

Quarterly Report • Nov 13, 2020

Quarterly Financial Report 30 September 2020

Aumann AG, Beelen

Welcome Note from the Executive Board

Dear Shareholders,

the COVID-19 pandemic has drastically curtailed global economic activity in recent months. For Aumann's largest customer industry, the automotive sector, the pandemic came at a highly inopportune moment. Unsettled consumers, trade policy disputes, declining vehicle sales and high transformation costs towards E-mobility were already the defining features of a crisis in a globally networked industry. On top of this, COVID-19 brought isolation, consumption chagrin, the collapse of supply chains and plant closures. New car registrations in Europe are still around 30% below the prior-year level, while in the US they are down by approximately a fifth and in China by more than 10%. Of course this does not leave us without a trace. Our customers' agendas are dominated by cost-cutting programmes. Excess capacity must be managed and investments are scrutinised, stopped or postponed. Safeguarding business and enhancing efficiency have become the credo at a time when the transformation towards climate neutrality through electromobility should be gathering momentum.

Aumann did not match its prior-year figures at the end of the third quarter of 2020. The lingering uncertainty on the market environment is translating into pronounced restraint on investments in production lines. Thus, after the first nine months, our order intake fell short of the figure for the previous year at €122.7 million. While down significantly in the Classic segment, the E-mobility segment at least outperformed the figures for the first and second quarters of 2020 in the third quarter. By September 2020, our revenue fell significantly by 38.4% to €123.7 million. By contrast, the decline in the E-mobility segment was relatively moderate at 6.9% to €79.8 million. Adjusted for non-recurring effects, EBITDA was positive again in the third quarter of 2020 at €0.8 million. Cumulatively over the year to date, it amounted to €0.1 million despite the challenging market situation. This corresponds to an adjusted EBITDA margin of 0.1%. EBITDA was adjusted for non-recurring effects that predominantly relate to the closure of our plant in Hennigsdorf.

For now, our market environment will remain extremely demanding, and further restrictions due to a possible heightening of the COVID-19 pandemic are increasingly likely. Until the market situation normalises, we will continue to drive the variables that we can influence. To safeguard our business viability, we managed to increase our liquidity to €90.3 million as at 30 September 2020. Our equity ratio was a solid 67.1%. We have continued to adjust our capacity and structures in order to remain competitive. For example, capacity was already reduced by roughly one quarter as at the end of September 2020. These measures are improving Aumann's position for the time after the crisis.

Sincerely,

Rolf Beckhoff Chief Executive Officer

Sebastian Roll Chief Financial Officer

Aumann in figures

Nine months	2020	2019	∆ 2020 /
(unaudited)	IFRS	IFRS	2019
	€ k	€ k	%
Order backlog	126.421	149.006	-15,2
Order intake	122.690	145.575	-15,7
there of E-mobility	70.378	88.383	-20,4
Earning figures (adjusted)*
Revenue	123.704	200.789	-38,4
there of E-mobility	79.755	85.692	-6,9
Operating performance	123.346	201.151	-38,7
Total performance	126.009	211.185	-40,3
Cost of materials	-70.809	-125.693	-43,7
Staff costs	-46.889	-56.766	-17,4
EBITDA	112	18.334	-99,4
EBITDA margin	0,1%	9,1%
EBIT	-3.620	14.804	-124,5
EBIT margin	-2,9%	7,4%
EBT	-4.155	14.357	-128,9
EBT margin	-3,4%	7,2%
Consolidated net profit	-2.996	9.594	-131,2
Number of shares	15.250	15.250	0,0
eps in €**	-0,20	0,63	-131,7
Figures from the statement	30 Sep	31 Dec
of financial position	€ k	€ k	%
Non-current assets	102.512	99.120	3,4
Current assets	192.040	227.626	-15,6
there of cash and equivalents	90.275	95.264	-5,2
Issued capital (share capital)	15.250	15.250	0,0
Other equity	182.413	187.914	-2,9
Total equity	197.663	203.164	-2,7
Equity ratio	67,1%	62,2%
Non-current liabilities	40.513	46.877	-13,6
Current liabilities	56.376	76.705	-26,5
Total assets	294.552	326.746	-9,9
Net debt (-) or
net cash (+) ***	72.273	73.987	-2,3
Employees	1.014	1.126	-9,9

* For details of adjustments please see the information on the results of operations, financial position and net assets.

** Based on shares outstanding on 30. September 2020.

*** This figure includes securities.

Contents

Welcome Note from the Executive Board	2
Aumann in figures	3
Contents	4
Interim Group management report	5
Business and economic conditions	5
Financial position and financial performance	5
Segment performance	6
Employees	6
Report on risks and opportunities	6
Report on expected developments	7
IFRS interim consolidated financial statements for 2020	8
Notes to the interim consolidated financial statements	14
Accounting	14
Accounting policies	14
Goodwill	14
Segment reporting	14
Changes in contingent liabilities	15
Related party transactions	15
Events after the end of the reporting period	15
Review	15
Responsibility statement	15
Financial calendar	16
Contact	16
Legal notice	16

Interim Group management report

Aumann is a world-leading manufacturer of innovative speciality machinery and automated production lines with a focus on E-mobility, and maintains sites on the world's three most important automotive markets – Europe, the US and China. The company combines complex and innovative winding technology for the highly efficient production of electric motors with decades of automation experience, particularly in the automotive industry. Leading companies around the world rely on Aumann solutions for the series production of purely electric and hybrid vehicle drives and for production automation. Given the longterm growth potential in E-mobility, Aumann's products in the E-mobility segment focus on the development and production of automated production lines for electric powertrain components. The company has its own technologies, some of which unique, for the automated mass production of both electric engines and energy storage. Aumann's manufacturing solutions thus cover essential technologies for key electric powertrain components.

Business and economic conditions

Following the slump in global production over the first half of 2020 due to the coronavirus, the end of the hard lockdown was, at first, followed by a significant economic recovery in individual economies. Nonetheless, the expectation of comprehensive economic normalisation for 2020 as a whole remained modest. In particular, potential setbacks in terms of how the pandemic might continue to unfold kept expectations in check, as did ongoing trade conflicts.

Thus, the International Monetary Fund (IMF) is forecasting that global gross domestic product (GDP) will shrink by 4.4% in 2020. While GDP in the US is expected to decline by 4.3%, a more severe recession is anticipated in the euro area, with GDP set to contract by 8.3%. In particular, it is believed that the countries in the south of Europe will suffer significantly from the effects of the pandemic, with double-digit GDP declines predicted for Italy (down 10.6%) and Spain (down 12.8%). However, the IMF has projected a historically weak 2020 GDP performance in France (down 9.8%) and Germany (down 6.0%) as well. China, which was affected by the COVID-19 pandemic sooner and thus recovered from the related measures before other economies, is expected to end 2020 with positive GDP growth of 1.9%, still a historically low level.

Above all, the auto sector has suffered from the unprecedented economic slump and the global investment restraint that has resulted. In the first nine months of 2020, 7.8 million fewer new cars were sold overall on the three major markets – Europe, the US and China – than in the same period of the previous year. Over this period, new car registrations in Europe are still around 30% below the prior-year level, while in the US they are down by approximately a fifth and in China by more than 10%.

At least for European new car registrations, an increase was reported again for the first time in September 2020 – of 3.1% or 0.9 million more vehicles than in September 2019. Developments on the key European markets have varied considerably. In Spain and France, the declines in new registrations were still in the double digits. By contrast, they rose significantly by 9.5% and 8.4% respectively in Italy and Germany. The US vehicle market (cars and light commercial vehicles) grew by 6.2% to 1.3 million new vehicles in September. A prior-year month was therefore outperformed for the first time since February. Car sales on the Chinese market rose by 12.8% to around 2.6 million new cars in September. This was the sixth month of growth in a row. Despite these recent, more encouraging developments, the COVID-19 pandemic means that 2020 as a whole is not expected to see an increase in global new registrations.

The members of the German Mechanical Engineering Industry Association (VDMA) are also losing hope for a quick economic recovery. Only around a fifth of companies now expect a return to 2019 revenue volumes in 2021. Also, capacity utilisation within the sector has fallen to significantly less than 80%, putting it back at the low level of 2010 and unmistakeably below the long-term average of 86%. In net terms, the VDMA is projecting a drop in production of 17% for 2020 as a whole. It does not expect production to grow again, by around 2%, until 2021.

Financial position and financial performance

The consolidated revenue of the Aumann Group declined by 38.4% to €123.7 million (previous year: €200.8 million).

EBITDA came to €-3.8 million by September (previous year: €18.3 million). After depreciation and amortisation of €4.1 million, the Aumann Group's EBIT amounted to €-7.9 million (previous year: €14.8 million). The financial result for the first nine months was €-0.5 million with EBT of €-8.4 million (previous year: €14.3 million). Consolidated net profit totalled €-6.0 million (previous year: €9.6 million) or €-0.39 per share (based on an average of 15,250,000 shares outstanding) in the first nine months. This figure was adjusted for non-recurring expenses of €3.9 million, €3.5 million of which were incurred for the discontinuation of operations at the Hennigsdorf site, with a further €0.4 million relating to capacity reductions at other locations. Adjusted EBITDA amounted to €0.1 million. In addition to the adjustments described

above, there were impairment losses of €0.3 million on the assets of the Hennigsdorf location, bringing adjusted EBIT to €-3.6 million.

Order intake totalled €122.7 million as at the end of September. Orders of €7.2 million were cancelled over this period. The order backlog came to €126.4 million in the first nine months.

The Group's equity amounted to €197.7 million on 30 September 2020 (31 December 2019: €203.2 million). Based on total consolidated assets of €294.6 million, the equity ratio was 67.1%.

Working capital has fallen by €8.2 million since 31 December 2019.

Financial liabilities declined by €3.3 million to €18.0 million as at 30 September 2020 (31 December 2019: €21.3 million). Cash funds, including securities, totalled €90.3 million (31 December 2019: €95.3 million). Accordingly, net cash from the above liabilities and cash items amounted to €72.3 million as against €74.0 million on 31 December 2019.

Segment performance

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

In its E-mobility segment, Aumann predominantly manufactures speciality machinery and automated production lines with a focus on the automotive industry. Aumann's offering enables customers to carry out the highly efficient and technologically advanced mass production of a wide range of electric power-train components and modules – from e-traction engines, drive and transmission components and power-ondemand units to various energy storage systems and electronic components. Aumann has a particular strategic focus on production lines for e-motor components and their assembly. Using highly specialised and, in some cases, unique winding and assembly technologies with which copper wire is introduced to electric components, these enable series production thanks to product solutions featuring innovative and efficient process flows. Another key strategic area is highly automated production lines for the production of energy storage systems. Aumann continued to realise high-end production and assembly solutions with its customers in this area in the current financial year. Major customers from the automotive industry use Aumann technology to manufacture the latest generation of electric motors and sophisticated, energy storage systems of the utmost quality. Aumann's product range also includes production solutions for electric auxiliary motors and product-related services such as maintenance, repair and spare parts delivery.

Revenue in the E-mobility segment contracted by 6.9% year-on-year to €79.8 million as at 30 September. The segment's EBITDA amounted to €-1.2 million after the first nine months (previous year: €8.1 million). Adjusted for non-recurring expenses, EBITDA totalled €2.4 million with an adjusted EBITDA margin of 3.0%. EBIT amounted to €-3.9 million (previous year: €6.4 million). Adjusted for non-recurring expenses, EBIT came to €-0.05 million with an EBIT margin of -0.1%. Order intake in E-mobility totalled €70.4 million.

In the Classic segment, Aumann mainly manufactures specialist machinery and automated production lines for the automotive, consumer electronics, appliances and industry sectors. For example, Aumann's solutions include systems for the production of drive components that reduce CO2 emissions from combustion engine vehicles. Aumann also offers highly automated manufacturing and assembly solutions for the consumer electronics and appliances industries in addition to specific solutions for other sectors.

Revenue in the Classic segment amounted to €43.9 million in the first three quarters (previous year: €115.1 million). Segment EBITDA amounted to €-2.8 million as against the prior-year figure of €9.9 million. Adjusted EBITDA came to €-2.5 million with an adjusted EBITDA margin of -5.6%. EBIT totalled €-4.1 million (previous year: €8.2 million). Adjusted for non-recurring expenses, EBIT amounted to €-3.8 million with an EBIT margin of -8.6%. Order intake in the Classic segment amounted to €52.3 million.

Employees

Not including temporary employees or trainees, the number of employees was 1,014 as at 30 September 2020.

Report on risks and opportunities

A detailed presentation of the company's risks and opportunities can be found in the 2019 annual report at www.aumann.com. There have been no fundamental changes in risks and opportunities since the publication of the 2019 annual report.

As for the development of the COVID-19 pandemic, depending on the duration, intensity and effectiveness of the containment measures taken, there could still be a severe negative impact on the financial position and financial performance of the Aumann Group in the fourth quarter of 2020 and beyond.

According to current assessments, neither individual risks nor a combination/correlation of multiple risks would pose a threat to the Aumann Group as a going concern.

Aumann's risk management system is suitable for identifying risks early on and taking immediate action.

Report on expected developments

Management expects that the current forecast of revenues in the range between €180 and €200 million and a positive EBITDA margin of up to 5%, prior to any one-of charges, will be reached at the lower end of each range. This is based on the expectation that the economy, after the economic low point in the second quarter of 2020, will slightly recover in the further course of the year and that the COVID-19 pandemic will not worsen further.

IFRS consolidated statement of comprehensive income	1 Jan -	1 Jan -
(unaudited)	30 Sep 2020	30 Sep 2019
	€ k	€ k
Revenue	123.704	200.789
Increase (+) / decrease (-) in finished goods
and work in progress	-358	362
Operating performance	123.346	201.151
Capitalised development costs	639	3.647
Other operating income	2.024	6.387
Total performance	126.009	211.185
Cost of raw materials and supplies	-60.587	-97.147
Cost of purchased services	-13.130	-28.546
Cost of materials	-73.717	-125.693
Wages and salaries	-37.809	-45.051
Social security
and pension costs	-9.686	-11.715
Staff costs	-47.495	-56.766
Other operating expenses	-8.613	-10.392
Earnings before interest, taxes, depreciation,
and amortisation (EBITDA)	-3.816	18.334
Amortisation and depreciation expense	-4.044	-3.577
Earnings before interest and taxes (EBIT)	-7.860	14.757
Other interest and similar income	37	118
Interest and similar expenses	-572	-565
Net finance costs	-535	-447
Earnings before taxes (EBT)	-8.395	14.310
Income tax expense	2.518	-4.662
Other taxes	-87	-87
Consolidated net profit	-5.964	9.561
Earnings per share (in €)	-0,39	0,63

IFRS interim consolidated financial statements for 2020

IFRS consolidated statement of comprehensive income	1 Jan -	1 Jan -
(unaudited)	30 Sep 2020	30 Sep 2019
	€ k	€ k
Consolidated net profit	-5.964	9.561
Currency translation differences	-75	17
FairValue Reserve	537	1.549
Other comprehensive income after taxes	462	1.566
Comprehensive income for the reporting period	-5.502	11.127

(unaudited) 30 Sep 2020 30 Sep 2019 € k € k Revenue 39.031 67.290 Increase (+) / decrease (-) in finished goods and work in progress 107 52 Operating performance 39.138 67.342 Capitalised development costs 297 876 Other operating income 702 542 Total performance 40.137 68.760 Cost of raw materials and supplies -19.149 -31.410 Cost of purchased services -3.388 -11.211 Cost of materials -22.537 -42.621 Wages and salaries -11.491 -14.191 and pension costs -3.494 -3.943 Staff costs -14.985 -18.134 Other operating expenses -2.391 -3.529 Earnings before interest, taxes, depreciation, and amortisation (EBITDA) 224 4.476 Amortisation and depreciation expense -1.271 -1.188 Earnings before interest and taxes (EBIT) -1.047 3.288 Other interest and similar income 3 3 Interest and similar expenses -148 -154 Net finance costs -145 -151 Earnings before taxes (EBT) -1.192 3.137 Income tax expense 357 -1.289 Other taxes -14 -28 Consolidated net profit -849 1.820 Earnings per share (in €) -0,06 0,12	IFRS consolidated statement of comprehensive income	1 Jul -	1 Jul -

Statement of financial position	30 Sep 2020	31 Dec 2019
Assets (IFRS)	unaudited	audited
	€ k	€ k
Non-current assets
Own produced intanbible assets	8.556	8.814
Concessions, industrial property rights and similar rights	402	534
Goodwill	38.484	38.484
Advance payments	859	134
Intangible assets	48.301	47.966
Land and buildings
including buildings on third-party land	25.285	26.302
Technical equipment and machinery	4.237	3.396
Other equipment, operating and office equipment	3.780	4.584
Advance payments and assets under development	583	1.283
Property, plant and equipment	33.885	35.565
Financial assets	19.566	14.824
Deferred tax assets	760	765
	102.512	99.120
Current assets
Raw materials and supplies	2.155	2.870
Work in progress	1.650	1.610
Finished goods	179	304
Advance payments	7.630	8.023
Inventories	11.614	12.807
Trade receivables	25.610	38.022
Receivables from construction contracts	79.762	92.770
Other current assets	4.345	3.587
Trade receivables
and other current assets	109.717	134.379
Securities	467	1.508
Cash in hand	6	15
Bank balances	70.236	78.917
Cash in hand, bank balances	70.242	78.932
	192.040	227.626

Statement of financial position	30 Sep 2020	31 Dec 2019
Equity and liabilities (IFRS)	unaudited	audited
	€ k	€ k
Equity
Issued capital	15.250	15.250
Capital reserve	140.917	140.918
Retained earnings	41.496	46.996
	197.663	203.164
Non-current liabilities
Pension provisions	22.348	22.348
Liabilities to banks	12.921	15.710
Other provisions	829	906
Other interest bearing liabilities	718	932
Other liabilities	1.031	1.112
Deferred tax liabilities	2.666	5.869
	40.513	46.877
Current liabilities
Liabilities to banks	3.720	3.719
Other interest bearing liabilities	643	915
Contractual obligations	10.542	13.840
Trade payables	17.558	28.596
Other liabilities	2.645	6.659
Provisions with the nature of a liability	11.231	10.658
Tax provisions	1.173	1.291
Other provisions	8.864	11.027
	56.376	76.705
Total equity and liabilities	294.552	326.746

Consolidated statement of cash flows	1 Jan -	1 Jan -
(unaudited)	30 Sep 2020	30 Sep 2019
	€ k	€ k
1. Cash flow from operating activities
Earnings before interest and taxes (EBIT)	-7.860	14.758
Adjustments for non-cash transactions
Write-downs on non-current assets	4.044	3.576
Increase (+) /decrease (-) in provisions	-2.240	-2.953
Losses (+) / Gains (-) for disposel of assets	0	-6
Other non-cash expenses / income	-34	-16
	1.770	601
Change in working capital:
Increase (-) / decrease (+) in inventories, trade receivables
and other assets	26.046	-28.457
Decrease (-) / increase (+) in trade payables
and other liabilities	-17.860	-28.363
	8.186	-56.820
Income taxes paid (-) / received (+)	-1.089	-2.300
Interest received	37	118
	-1.052	-2.182
Cash flow from operating activities	1.043	-43.643
2. Cash flow from investing activities
Investments (-) / divestments (+) intangible assets	-1.494	-3.766
Investments (-) / divestments (+) property, plant and equipment	-899	-1.775
assets and securities	-3.164	-938
Remaining purchase price payment ALIM	0	-4.467
Cash flow from investing activities	-5.557	-10.946
3. Cash flow from financing activities
Profit distribution to shareholders	0	-3.050
Proceeds from borrowing financial loans	2	271
Repayments of financial loans	-3.585	-3.655
Interest payments	-572	-565
Cash flow from financing activities	-4.155	-6.999
Cash and cash equivalents at end of period
Change in cash and cash equivalents
(Subtotal 1-3)	-8.667	-61.589
Effects of changes in foreign exchange rates (non-cash)	-22	27
Cash and cash equivalents at start of reporting period	78.931	106.323
Cash and cash equivalents at end of period	70.242	44.761
Composition of cash and cash equivalents
Cash in hand	6	15
Bank balances	70.236	44.746
Reconciliation to liquidity reserve on 31 March	2020	2019
Cash and cash equivalents at end of period	70.242	44.761
Securities	20.033	12.637
Liquidity reserve on 30 Sep	90.275	57.398

Sta f c ha in l i da d e ity ( d ite d ) tem t o te en ng es co nso q u un au
			Re ine d e ing 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	se rve	se rve	l i da d e ity te q so u	ity eq u
			d i f fer en ce
	€ k	€ k	€ k	€ k	€ k	€ k	€ k
Jan 2 0 9 1 1	25 0 15	0. 9 8 14 1	0	-35 1	05 -1. 5	6 16 41	95 9 2 8 1
Pay ed div ide nd	0	0	0	0	0	-3. 05 0	-3. 05 0
Su bto l ta	15 25 0	14 0. 9 1 8	0	-35 1	-1. 5 05	3 8.5 6 6	1 9 2. 87 8
Am ise d in her reh ive inc ts r ot oun eco gn co mp ens om e	0	0	0	1. 9 18	-2. 6 25	0	-70 7
Cu nsl atio n d iffe tra rre ncy ren ce	0	0	-1	0	0	0	-1
Co lida ted rof it t p nso ne	0	0	0	0	0	10 9 9 4	10 9 9 4
ive inc To l c he ta om p re ns om e	0	0	-1	1. 9 1 8	-2. 6 25	1 0. 9 9 4	1 0. 2 8 6
3 De 2 0 9 1 1 c	25 0 15	0. 9 8 14 1	-1	67 1.5	3 0 -4. 1	9.5 6 0 4	2 0 3. 16 4
Pay ed div ide nd	0	0	0	0	0	0	0
Su bto l ta	25 0 15	0. 9 8 14 1	-1	1.5 67	3 0 -4. 1	9.5 0 4 6	2 0 3. 16 4
Am ise d in her reh ive inc ts r ot oun eco gn co mp ens om e	0	0	0	5 37	0	0	5 37
iffe Cu nsl atio n d tra rre ncy ren ce	0	0	-75	0	0	0	-75
Co lida ted rof it t p nso ne	0	0	0	0	0	9 6 4 -5.	9 6 4 -5.
To l c he ive inc ta om p re ns om e	0	0	-75	37 5	0	9 6 -5. 4	0 2 -5. 5
3 0 Se 2 0 2 0 p	15 25 0	14 0. 9 1 8	-76	2.1 0 4	-4. 1 3 0	4 3.5 9 6	1 97 6 6 2

Notes to the interim consolidated financial statements

Accounting

The interim financial report of the Aumann Group for the period 1 January to 30 September 2020 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 2019. 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 2019: €38,484 thousand). Goodwill was tested for impairment on account of the effects of the COVID-19 pandemic. The impairment test as at 30 June 2020 confirmed the recoverability of all capitalised goodwill.

Segment reporting

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

1 Jan - 30 Sep 2020	Classic	E-mobility	Reconcilation	Group
(unaudited)
	€ k	€ k	€ k	€ k
Order backlog	53.179	73.242	0	126.421
Order intake	52.312	70.378	0	122.690
Revenue from third parties	43.949	79.755	0	123.704
EBITDA	-2.770	-1.228	182	-3.816
Amortisation and depreciation	-1.295	-2.701	-48	-4.044
EBIT	-4.066	-3.930	136	-7.860
Financial result	-54	-518	37	-535
EBT	-4.120	-4.448	173	-8.395
EBITDA-Margin	-6,3%	-1,5%		-3,1%
Trade receivables and
Receivables from construction contracts	51.661	53.711	0	105.372
Contractual obligations	7.299	3.243	0	10.542

1 Jan - 30 Sep 2019 (unaudited)	Classic	E-mobility	Reconcilation	Group
	€ k	€ k	€ k	€ k
Order backlog	67.110	81.896	0	149.006
Order intake	57.192	88.383	0	145.575
Revenue from third parties	115.097	85.692	0	200.789
EBITDA	9.940	8.124	270	18.334
Amortisation and depreciation	-1.778	-1.752	-47	-3.577
EBIT	8.162	6.372	223	14.757
Financial result	-358	-179	90	-447
EBT	7.804	6.193	313	14.310
EBITDA-Margin	7,1%	7,4%		7,3%
Trade receivables and
Receivables from construction contracts	89.897	62.767	0	152.664
Contractual obligations	3.781	3.150	0	6.931

Changes in contingent liabilities

There were no changes in contingent liabilities as against 31 December 2019.

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 September 2020 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 results of operations, financial position and net assets 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 for the remaining months of the financial year.

Beelen, 13 November 2020

Rolf Beckhoff Sebastian Roll Chief Executive Officer Chief Financial Officer

Financial calendar

Quarterly Report Q3 2020 13 November 2020

End of financial year 31 December 2020

Contact

Aumann AG Dieselstrasse 6 48361 Beelen

Tel. +49 2586 888 7800 www.aumann.com info@aumann.com

Legal notice

Aumann AG Dieselstrasse 6 48361 Beelen Germany