Half-Year Financial Report 30 June 2024

Aumann AG, Beelen

Aumann in figures

Half-Year (unaudited)	2024	2023	$\begin{gathered} \Delta 2024 \ / 2023 \end{gathered}$
	€k	€k	$\%$
Order backlog	288,441	313,642	$-8.0$
Order intake	130,034	173,158	$-24.9$
Earnings figures (IFRS)	€k	€k	$\%$
Revenue	141,430	118,964	18.9
thereof E-mobility	113,622	88,302	28.7
Operating performance	141,808	120,268	17.9
Total performance	144,138	123,252	16.9
Cost of materials	$-83,350$	$-78,282$	6.5
Staff costs	$-39,994$	$-31,602$	26.6
EBITDA	14,981	7,762	93.0
EBITDA margin	$10.6 \%$	$6.5 \%$
EBIT	11,827	5,252	125.2
EBIT margin	$8.4 \%$	$4.4 \%$
EBT	13,330	5,492	142.7
EBT margin	$9.4 \%$	$4.6 \%$
Consolidated net profit	9,182	3,770	143.6
Earnings figures (adjusted)*	€k	€k	$\%$
Adj. EBITDA	15,325	8,134	88.4
Adj. EBITDA margin	10.8\%	$6.8 \%$
Adj. EBIT	12,213	5,642	116.5
Adj. EBIT margin	8.6\%	$4.7 \%$
Adj. EBT	13,716	5,881	133.2
Adj. EBT margin	9.7\%	$4.9 \%$
Figures from the statement of financial position	30 Jun €k	31 Dec €k	$\%$
Non-current assets	82,684	82,161	0.6
Current assets	247,638	270,570	$-8.5$
thereof cash and equivalents **	116,968	143,788	$-18.7$
Issued capital (share capital)	14,345	14,694	$-2.4$
Other equity	175,498	174,614	0.5
Total equity	189,844	189,308	0.3
Equity ratio	57.5\%	53.7\%
Non-current liabilities	33,248	30,807	7.9
Current liabilities	107,230	132,617	$-19.1$
Total assets	330,322	352,731	$-6.4$
Net cash (+) or net debt (-) **	109,070	135,032	$-19.2$
Employees	929	951	$-2.3$

[^0]Rounding differences can occur in this report with regard to percentages and figures.

[^0]: * For details of adjustments please see the information in the results of operations, financial position and net assets.

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
Business performance ..... 5
Results of operations, financial position and net assets ..... 5
Segment performance ..... 6
Employees ..... 6
Report on risks and opportunities ..... 6
Report on expected development ..... 7
IFRS-interim consolidated financial statements ..... 8
Notes to the interim consolidated financial statements ..... 13
Company information ..... 13
Accounting ..... 13
Accounting policies ..... 13
Review ..... 13
Dividend ..... 13
Changes in contingent liabilities ..... 13
Related party transactions ..... 13
Segment reporting ..... 13
Additional disclosures on financial instruments ..... 15
Responsibility statement ..... 17
Financial calendar ..... 18
Contact ..... 18
Legal Notice ..... 18

Welcome note from the Executive Board

Dear Shareholders,

The first half of 2024 was marked by a significant increase in earnings for Aumann AG, while order intake was below the previous year's level due to noticeable investment restraint in the European automotive industry. The consistently high order backlog and the strong balance sheet prove to be a solid foundation in a challenging market environment.

Aumann AG recorded a revenue increase of $18.9 \%$ to $€ 141.4$ million in the first half of 2024. The E-mobility segment grew dynamically, increasing revenue by $28.7 \%$ to $€ 113.6$ million and EBITDA by $127.0 \%$ to $€ 13.2$ million compared to the previous year. In the Classic segment, revenue decreased slightly from $€ 30.6$ million to $€ 27.8$ million, but EBITDA grew significantly by $25.0 \%$ to $€ 3.6$ million. Across segments, EBITDA of the first six months, increased by $93.0 \%$ to $€ 15.0$ million. The EBITDA margin improved notably from $6.5 \%$ to $10.6 \%$.

The European automotive industry is currently facing unexpectedly weak end-customer demand for electric vehicles as well as an uncertain regulatory framework. In the current financial year, this is increasingly reflected in a temporary reluctance to invest in the expansion of production capacities for electromobility. In this challenging market environment, the E-mobility segment recorded a $16.2 \%$ decline in order intake compared to the previous year to $€ 111.8$ million. At $€ 130.0$ million, order intake across segments was $24.9 \%$ below the previous year's figure. The record-high order backlog of over $€ 300$ million in each of the previous quarters was reduced to a still comfortable $€ 288.4$ million as of June 30, 2024, securing the company's full capacity utilization as well as the projected revenue and earnings growth.
For the transformation to electromobility highly automated production facilities are needed. Aumann offers its customers a wide range of innovative production solutions and is proving to be a strong partner in the currently challenging business environment, thanks to its solid finances. As of June 30, 2024, Aumann is in an excellent financial position, with a liquidity of $€ 117.0$ million and an equity ratio of $57.5 \%$.

For the 2024 financial year, Aumann continues to expect revenue growth to over $€ 320$ million with an EBITDA margin of 9 to $11 \%$.

With best regards,

Schief Executive Officer

Chief Financial Officer

Interim Group management report

Description of the business model

Aumann is a global leading manufacturer of innovative special machinery and automated production lines with a focus on E-mobility. With the German sites in Beelen, Espelkamp, Lauchheim and Limbach-Oberfrohna in Europe, as well as the Chinese site in Changzhou and a site in Clayton in the USA, the company has six locations in the three most important markets. The entire automotive industry is undergoing a continuous transformation: away from the complex, mechanical drive concept centred on the combustion engine towards a much leaner and more sustainable electric drive concept. For this reason, Aumann aligned its strategy and portfolio with the needs of the E-mobility megatrend years ago and is making a special contribution to emission-free mobility here. Aumann's innovative production solutions enable the highly efficient and technologically advanced large-scale production of a wide range of aggregates, individual components and modules for E-mobility. These include energy storage and conversion systems (battery and fuel cell), the electric traction drive, the associated power electronics (inverters), power-ondemand aggregates, auxiliary motors as well as electronic components in the field of sensors and controls. Leading companies around the world rely on Aumann solutions for the series production of allelectric and hybrid vehicle drives, as well as solutions for production automation.

Business and economic conditions

The global economy proved to be relatively resilient in the first half of 2024 against the backdrop of a persistently restrictive monetary policy and grew moderately in the first six months. At the same time, global trade increased slightly. The most important central banks in the industrialised countries have recently signalled a somewhat more cautious easing of their monetary policy due to the slower decline in inflation. The OECD is forecasting global economic growth of $3.1 \%$ for the current year, driven primarily by India, China and the USA. Growth of $1.7 \%$ is expected for the OECD economic area and $0.7 \%$ for the euro zone.

In Germany, gross domestic product fell slightly by $0.1 \%$ in the second quarter of 2024 compared with the first quarter, after growing by $0.2 \%$ and falling by $0.5 \%$ in the fourth quarter of 2023. A continued decline in incoming orders, particularly from abroad, is increasingly proving to be a brake on a sustainable recovery of the German industrial economy. The recovery in foreign trade observed since the turn of the year experienced a setback over the course of the second quarter, both in terms of exports and imports. The recovery in consumer sentiment in Germany at the beginning of the year also came to a standstill for the time being in the second quarter. According to the Federal Statistical Office, the inflation rate in Germany was $2.2 \%$ in June 2024. While falling energy and food prices held back the inflation since the beginning of the year, above-average price increases for services can still be observed. The Deutsche Bundesbank is forecasting an average annual inflation rate of $2.8 \%$ for 2024 . The ifo Institute anticipates a priceadjusted increase in GDP of $0.4 \%$ in 2024 , which will be supported by falling interest rates, the stable labour market, strong income growth and rising global demand.

Market development

According to the German Association of the Automotive Industry (VDA), sales in both the national and international passenger car markets were mostly higher compared to the first half of 2023. Sales in the EU increased by $4.5 \%$, in the USA by $2.1 \%$, in China by $3.3 \%$ and in Germany by around $5 \%$. At $18.6 \%$, the share of electric vehicles in new registrations in Germany has decreased by 2.8 percentage points compared to the first half of 2023. Demand for electric vehicles in Germany remains subdued, which is partly due to the abrupt end to subsidies and the weak overall economic development.

According to the German Engineering Federation (VDMA), the mechanical and plant engineering sector recorded a $12 \%$ year-on-year decline in order intake in the first half of 2024. National orders decreased by $18 \%$, while international orders decreased by $9 \%$, with a decline of $14 \%$ in euro countries and $7 \%$ in non-euro countries. For 2024, the federation continues to forecast a decline in production of around $4 \%$ for its companies.

Business performance, results of operations, financial position and net assets

Business performance

In the first half of the 2024 financial year, Aumann increased its revenue by $18.9 \%$ to $€ 141.4$ million. The E-mobility segment recorded a remarkable increase in revenue of $28.7 \%$ to $€ 113.6$ million and therefore contributed $80.3 \%$ to total revenue. In the same period, EBITDA rose from $€ 7.8$ million to $€ 15.0$ million, which led to a significant improvement in the EBIDTA margin to $10.6 \%$, compared to $6.5 \%$ in the same period of the previous year. Adjusted by special effects in context with personnel costs from the stock option program, adjusted EBITDA amounted to $€ 15.3$ million, with an adjusted EBITDA margin of $10.8 \%$.

Due to the temporary reluctance of the European automotive industry to invest, the E-mobility segment recorded a $16.2 \%$ year-on-year decline in incoming orders to $€ 111.8$ million in the first half of the year. At $€ 130.0$ million, order intake across segments was $24.9 \%$ below the previous year's figure. The recordhigh order backlog of over $€ 300$ million in each of the previous quarters will be reduced to a comfortable $€ 288.4$ million as at 30 June 2024, ensuring the company's full capacity utilization as well as the forecasted revenue and earnings growth.

Highly automated production systems are needed for the transformation to E-mobility. Aumann offers its customers a wide range of innovative production solutions and is proving to be a strong partner in the current challenging business environment thanks to its solid finances. As at 30 June 2024, Aumann is in an excellent position with a liquidity of $€ 117.0$ million and an equity ratio of $57.5 \%$.

On 17 November 2023, Aumann AG resolved to make use of the authorization granted by the Annual General Meeting on 2 June 2021 to acquire treasury shares in accordance with Section 71 (1) No. 8 of the German Stock Corporation Act (AktG) and to purchase treasury shares with a maximum volume of $€ 8.0$ million up to a price of $€ 20.00$ per share via the stock exchange in the period from 22 November 2023 to 30 June 2024 (share buyback program 2023/II). By the balance sheet date of 31 December 2023, a total of 115,009 shares with a total value of $€ 2.0$ million had been repurchased. After the balance sheet date, a further 348,272 shares with a total value of $€ 6.0$ million were repurchased by 13 May 2024. The maximum volume of $€ 8.0$ million was thus reached on 13 May 2024 and the share buyback program 2023/II was terminated.

The Supervisory Board and the Executive Board of Aumann AG proposed in the Annual General Meeting on 15 June 2024, which took place in presence, to pay out a dividend of $€ 0.20$ per dividend-bearing share. This proposal found approval of the majority. Payout of the dividend was on 21 June 2024.

Results of operations, financial position and net assets

Aumann further improved its results of operation in the first six months of 2024 compared to the previous year. Revenue increased by $18.9 \%$ to $€ 141.4$ million (previous year: $€ 119.0$ million). Total performance after considering capitalized development work and other operating income, reached $€ 144.1$ million, which represents an increase of $€ 20.9$ million compared to the previous year.

The cost of materials increased by $6.5 \%$ to $€ 83.4$ million, while personnel expenses rose by $26.6 \%$ to $€ 40.0$ million.

EBITDA (earnings before interest, taxes, depreciation and amortisation) amounted to $€ 15.0$ million as at June 2024 (previous year: $€ 7.8$ million). After depreciation and amortisation of $€ 3.2$ million (previous year: $€ 2.5$ million), EBIT (earnings before interest and taxes) amounted to $€ 11.8$ million (previous year: $€ 5.3$ million). Considering a financial result of $€ 1.5$ million (previous year: $€ 0.2$ million), EBT (earnings before taxes) amounted to $€ 13.3$ million (previous year: $€ 5.5$ million). Earnings after taxes for the first half of 2024 therefore amounted to $€ 9.2$ million (previous year: $€ 3.8$ million), corresponding to $€ 0.62$ per share based on the average number of $14,734,880$ shares in circulation.

Adjusted for personnel expenses related to the the stock option program amounting to $€ 344.0$ thousand (previous year: $€ 372.1$ thousand), the adjusted EBITDA was $€ 15.3$ million (previous year: $€ 8.1$ million). In addition, depreciation and amortisation of assets that were capitalised as part of the purchase price allocation of Aumann Limbach-Oberfrohna GmbH and Aumann Lauchheim GmbH was adjusted by $€ 42.3$ thousand. Adjusted EBIT therefore amounted to $€ 12.2$ million (previous year: $€ 5.6$ million).

Order intake in the first six months amounted to $€ 130.0$ million. The order backlog amounted to a total of $€ 288.4$ million as at 30 June 2024.

The Aumann Group's equity amounted to $€ 189.8$ million as at 30 June 2024 (previous year: $€ 189.3$ million). In relation to the total assets of $€ 330.3$ million, the equity ratio was $57.5 \%$.

Financial liabilities decreased by $€ 0.4$ million and amounted to $€ 7.9$ million as at 30 June 2024 (previous year: $€ 8.3$ million).

Cash and cash equivalents decreased from €133.0 million (31 December 2023) to €109.2 million in the first half of 2024. This decrease follows a significant increase in the fourth quarter of 2023, which was due to high advance payments received and increased cash and cash equivalents by $€ 30.7$ million. Over the course of the first six months of 2024, the ongoing fulfilment of customer orders led to an increase in working capital of $€ 26.9$ million.

Net cash, i.e. the balance of the aforementioned liabilities and cash and cash equivalents, therefore amounted to $€ 109.1$ million compared to $€ 135.0$ million on 31 December 2023.

Segment performance

Given their different market prospects, Aumann distinguishes between the business segments E-mobility and Classic, 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 engines to power electronics components (inverters) and power-on-demand units or other 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 batteries and fuel cells, where Aumann also implemented sophisticated production and assembly solutions with well-known customers in the past financial year. This now also includes laminating and coating systems for electrode and MEA (membrane electrode assembly) production. 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 for the series production of their latest generations of energy storage systems, traction motors and e-auxiliary motors in the highest quality.

In the E-mobility segment, revenue increased by $28.7 \%$ to $€ 113.6$ million as at 30 June 2024 (previous year: $€ 88.3$ million). The segment's EBITDA after six months amounted to $€ 13.2$ million (previous year: $€ 5.8$ million). EBIT amounted to $€ 10.8$ million (previous year: $€ 4.0$ million). Order intake amounted to $€ 111.8$ million.

In the Classic segment, Aumann manufactures special machinery and automated production lines mainly for the automotive, renewable energy, consumer electronics, household appliances and other industries. Aumann's solutions include systems to produce drive and lightweight components that reduce the CO2 emissions of vehicles with combustion engines. Increasingly, the company's product and process expertise in the automotive industry is also benefiting customers in other sectors. Aumann's highly automated manufacturing and assembly solutions are now also used in series production plants in the field of electrolysis or the automated assembly of photovoltaic modules. Additionally, Aumann's product portfolio now also includes laminating and coating systems for the flooring, textile and industries markets.

In the Classic segment, sales as at 30 June 2024 amounted to $€ 27.8$ million (previous year: $€ 30.6$ million). The segment's EBITDA after six months amounted to $€ 3.6$ million (previous year: $€ 2.9$ million). EBIT amounted to $€ 3.0$ million (previous year: $€ 2.2$ million). Order intake amounted to $€ 18.2$ million.

Employees

The number of employees as at 30 June 2024, excluding trainees and temporary workers, was 929, which represents a slight decrease compared to 951 employees on 31 December 2023. In addition, 64 trainees and dual students as well as 16 temporary workers were employed. The total number of employees as at 30 June 2024 was 1,009, compared to 1,045 on 31 December 2023.

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 2023, 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.

Report on expected development

For the 2024 financial year, Aumann continues to expect revenue growth to over $€ 320$ million with an EBITDA margin of 9 to $11 \%$.

Beelen, 14 August 2024

Sebpstian Reff
Chief Executive Officer

Chief Financial Officer

IFRS-interim consolidated financial statements

IFRS consolidated statement of profit or loss	$\begin{gathered} \text { I Jan }-30 \text { Jun } \ 2024 \end{gathered}$	$\begin{gathered} \text { I Jan }-30 \text { Jun } \ 2023 \end{gathered}$
(unaudited)	€k	€k
Revenue	141,430	118,964
Increase ( + )/decrease (-) in finished goods and work in progress	378	1,303
Operating performance	141,808	120,268
Capitalised development costs	1,579	1,495
Other operating income	751	1,489
Total performance	144,138	123,252
Cost of raw materials and supplies	$-72,325$	$-69,914$
Cost of purchased services	$-11,025$	$-8,368$
Cost of materials	$-83,350$	$-78,282$
Wages and salaries	$-31,187$	$-25,150$
Social security and pension costs	$-8,807$	$-6,452$
Staff costs	$-39,994$	$-31,602$
Other operating expenses	$-5,812$	$-5,605$
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	14,981	7,762
Depreciation and amortisation	$-3,154$	$-2,510$
Earnings before interest and taxes (EBIT)	11,827	5,252
Other interest and similar income	1,841	550
Interest and similar expenses	$-338$	$-310$
Net finance costs	1,503	239
Earnings before taxes (EBT)	13,330	5,492
Income tax expense	$-4,022$	$-1,652$
Other taxes	$-126$	$-70$
Earnings after taxes	9,182	3,770
Earnings per share (in €) - undiluted	0.62	0.25
Earnings per share (in €) - diluted ${ }^{1}$	0.62	0.25

${ }^{1}$ The previous year's figure for diluted earnings per share has been adjusted (see section III. 8 in the notes to the consolidated financial statements for the 2023 financial year).

IFRS consolidated statement of comprehensive income	$\begin{gathered} \text { I Jan }-30 \text { Jun } \ 2024 \end{gathered}$	$\begin{gathered} \text { I Jan }-30 \text { Jun } \ 2023 \end{gathered}$
(unaudited)	€k	€k
Earnings after taxes	9,182	3,770
Currency translation changes	34	$-329$
Fair Value Reserve - Equity instruments	$-18$	0
Other comprehensive income after taxes	17	$-329$
Comprehensive income for the reporting period	9,199	3,441

Statement of financial position	30 Jun 2024	31 Dec 2023
Assets (IFRS)	unaudited	audited
	$\epsilon_{x}$	$\epsilon_{x}$

Non-current assets
Internally generated intangible assets	11,818	11,469
Concessions, industrial property rights and similar rights	1,980	2,153
Goodwill	38,484	38,484
Intangible assets	52,282	52,106
Land and buildings including buildings on third-party land	21,331	22,045
Technical equipment and machinery	2,325	2,447
Other equipment, operating and office equipment	3,839	3,562
Advance payments and assets under development	1,340	488
Property, plant and equipment	28,835	28,542
Deferred tax assets	1,567	1,513
	82,684	82,161
Current assets
Raw materials and supplies	2,676	2,886
Work in progress	4,804	3,532
Finished goods and commodities	173	161
Advance payments	11,959	10,747
Inventories	19,612	17,325
Trade receivables	10,613	22,677
Contractual assets	95,849	83,389
Other current assets	4,597	3,390
Trade receivables and other current assets	111,058	109,456
Securities	7,768	10,743
Cash in hand	3	3
Bank balances	109,197	133,042
Cash in hand, bank balances	109,199	133,045
	247,638	270,570
Total assets	330,322	352,731

Statement of financial position	30 Jun 2024	31 Dec 2023
Equity and liabilities (IFRS)	unaudited	audited
	€	€k
Equity
Issued capital	14,345	14,694
Capital reserves	128,046	133,491
Retained earnings	47,452	41,123
	189,844	189,308
Non-current liabilities
Pension provisions	13,452	13,452
Liabilities to banks	3,629	4,457
Lease liabilities	1,590	1,622
Other provisions	2,047	1,969
Deferred tax liabilities	11,755	8,516
Other liabilities	774	790
	33,248	30,807
Current liabilities
Other provisions	8,735	10,581
Trade payables	24,039	31,016
Contractual obligations	56,306	70,223
Provisions with the nature of a liability	9,795	8,507
Liabilities to banks	1,656	1,656
Lease liabilities	1,023	1,021
Tax provisions	843	845
Other liabilities	4,834	8,767
	107,230	132,617
Total equity and liabilities	330,322	352,731

Consolidated statement of cash flows	$\begin{gathered} \text { I Jan - } 30 \text { Jun, } \ 2024 \end{gathered}$	$\begin{gathered} \text { I Jan - } 30 \text { Jun, } \ 2023 \end{gathered}$
(unaudited)	€\$	€\$
1. Cash flow from operating activities
Earnings before interest and taxes (EBIT)	11,827	5,252
Depreciation and amortisation	3,154	2,510
Increase (+)/decrease (-) in provisions	$-1,769$	1,927
Gains (+)/losses (-) from disposal of PPE	$-3$	$-2$
Other non-cash expenses/income	91	63
Adjustments for non-cash transactions	1,473	4,497
Increase (-)/decrease (+) in inventories, trade receivables and other assets	$-3,368$	$-32,897$
Decrease (-)/increase (+) in trade payables and other liabilities	$-23,556$	16,693
Change in working capital	$-26,924$	$-16,204$
Income taxes paid	$-1,523$	$-513$
Interest received	1,953	550
Cash flow from operating activities	$-13,194$	$-6,418$
2. Cash flow from investing activities
Investments (-)/divestments (+) intangible assets	$-1,538$	$-1,604$
Investments (-)/divestments (+) property, plant and equipment	$-1,440$	$-556$
Investments (-)/divestments (+) long-term financial assets and securities	3,000	0
Cash flow from investing activities	22	$-2,160$
3. Cash flow from financing activities
Profit distribution to shareholders	$-2,869$	$-1,490$
Purchase of treasury shares	$-5,972$	$-5,980$
Proceeds from borrowing financial loans	0	493
Repayments of financial loans	$-828$	$-1,604$
Repayments of lease liabilities	$-680$	$-408$
Interest payments	$-338$	$-310$
Cash flow from financing activities	$-10,687$	$-9,298$
Cash and cash equivalents at end of period
Change in cash and cash equivalents (Subtotal 1-2)	$-23,859$	$-17,876$
Effects of changes in foreign exchange rates (no cash effect)	13	$-163$
Cash and cash equivalents at start of reporting period	133,045	120,602
Cash and cash equivalents at end of period	109,199	102,564
Composition of cash and cash equivalents
Cash in hand	3	3
Bank balances	109,197	102,560
Reconciliation to liquidity reserve on Jun 30	2024	2023
Cash and cash equivalents at end of period	109,199	102,564
Securities	7,768	0
Liquid funds as at 30 Jun	116,968	102,564

Notes to the interim consolidated financial statements

Accounting

The interim financial report of the Aumann Group for the period 1 January 2024 to 30 June 2024 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 2023. 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.

Review

The condensed interim consolidated financial statements as at 30 June 2024 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.

Dividend

The Annual General Meeting on 18 June 2024 decided to pay out dividends for the financial year 2023 amounting to $€ 2.9$ million ( $€ 0.20$ per dividend-bearing share). Dividends were paid on 21 June 2024.

Changes in contingent liabilities

There were no changes in contingent liabilities as against 31 December 2023.

Related party transactions

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

Segment reporting

The Aumann Group's management classifies the segments as described in the interim Group management report. Segment liabilities do not include tax liabilities, finance lease liabilities or liabilities to banks.

Segment reporting	Classic	E-mobility	Reconciliation	Group
1 Jan - 30 Jun 2024 (unaudited)	€k	€k	€k	€k
Revenue from third parties	27,808	113,622	0	141,430
Total revenue	27,808	113,622	0	141,430
EBITDA	3,634	13,219	$-1,871$	14,981
Depreciation and amortisation	$-660$	$-2,458$	$-37$	$-3,154$
EBIT	2,975	10,760	$-1,908$	11,827
Net finance cost	$-81$	27	1,557	1,503
EBT	2,894	10,787	$-351$	13,330
EBITDA margin	13.1\%	11.6\%		10.6\%
EBIT margin	10.7\%	9.5\%		8.4\%
Trade receivables and receivables from construction contracts	22,439	83,414	596	106,450
Contractual obligations	10,866	45,440	0	56,306

Segment reporting	Classic	E-mobility	Reconciliation	Group
1 Jan - 30 Jun 2023 (unaudited)	€k	€k	€k	€k
Revenue from third parties	30,662	88,302	0	118,964
Total revenue	30,662	88,302	0	118,964
EBITDA	2,906	5,824	$-968$	7,762
Depreciation and amortisation	$-691$	$-1,792$	$-27$	$-2,510$
EBIT	2,215	4,031	$-994$	5,252
Net finance cost	$-93$	$-26$	358	239
EBT	2,122	4,005	$-636$	5,492
EBITDA margin	9.5\%	6.6\%		6.5\%
EBIT margin	7.2\%	4.6\%		4.4\%
Trade receivables and receivables from construction contracts	22,185	89,140	4,194	115,519
Contractual obligations	11,546	40,926	0	52,472

€141.4 million (previous year: €119.0 million) of the revenue relates to time-period contracts with customers. The EBT of the segments is transitioned to the Group result as following:

Reconciliation of EBT to net profit	2024	2023
Half-Year	€k	€k
Total EBT of the segments	13,330	5,492
Taxes on income	$-4,022$	$-1,652$
Other taxes	-126	-70
PAT (profit after tax)	9,182	3,770
Net profit for the period	9,182	3,770

Additional disclosures on financial instruments

The following table shows the carrying amounts and fair values of the financial instruments by class and IFRS 9 measurement categories. In addition, the financial instruments measured at fair value are classified in the fair value hierarchy provided for in IFRS 13. The individual levels of this hierarchy are defined as follows:
Level 1: The market value determination is based on price quotations of active markets (e.g. stock market prices).
Level 2: Market observable parameters are incorporated into the market value determination to a significant extent.
Level 3: The market value determination is based on valuation methods in which mainly non-marketobservable input factors are included.
Most of the assets, trade payables, payables to non-controlling partners and other financial liabilities classified at cost in accordance with IFRS 9 have short residual maturities. As at the balance sheet date, their carrying amounts are approximately equivalent to their fair values. In application of IFRS 7.29a, fair value is not disclosed ("n/a").

30 Jun 2024	Evaluation category IFRS $9^{1}$	Carrying amount	Fair Value
			level 1	level 2	level 3	Total
Assets
Trade receivables	AC	10,613				n/a
31 Dec 2023		22,677
Other financial assets ${ }^{2}$	AC	334				n/a
31 Dec 2023		608
Securities (debt instruments)	FVTOCI	7,768	7,768			7,768
31 Dec 2023		10,743	10,743			10,743
Cash in hand, bank balances	AC	109,199				n/a
31 Dec 2023		133,045
Equity and liabilities
Liabilities to banks	FLaC	5,285		4,975		4,975
31 Dec 2023		6,114		5,778		5,778
Trade payables	FLaC	24,039				n/a
31 Dec 2023		30,883
Other financial liabilities and provisions with the nature of a liability ${ }^{2}$	FLaC	12,838				n/a
31 Dec 2023		11,069
Aggregated according to category
Assets	AC	120,146				n/a
Assets	FVTOCI	7,768				7,768
Assets	FVTPL	0				0
Liabilities	FLaC	42,162				n/a
Liabilities	FVTPL	0				0

${ }^{1}$ FVTPL: Fair Value through P&L; FVTOCI: Fair Value through OCI; AC: Amortized Cost; FLaC: Financial Liabilities at amortized cost
${ }^{2}$ Other financial assets and other financial liabilities include all other current assets and other liabilities that do not arise from taxes and accrued income or deferred income.
The principles and methods used to determine the fair value are unchanged as at 30 June 2024. Further details can be found in section VI. of the notes to the consolidated statements of financial position for 2023.

For securities measured at fair value, fair values are based on the market price quoted on an active market. Investments in equity instruments are predominantly measured at fair value in other comprehensive income without affecting profit or loss. At the balance sheet date, there were only equity instruments measured at fair value without effect on profit or loss. This presentation is based on the business model and the underlying investment strategy.

The fair values of liabilities to banks and liabilities from profit participation rights as well as the contingent consideration from put options are determined as the present values of the expected future cash flows. Discount rates are based on the relevant maturities and creditworthiness.
There were no changes between levels in either the current financial year or the past financial year.
The following table shows the measurement methods used to determine fair values:

Financial Instrument	Measurement method	Material, unobservable input factors
Securities	The fair value is based on the market price of equity and debt instruments as at 30 June 2024.	Not applicable

Events after the end of the reporting period

No events occured after the reporting date.

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.