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Aumann AG
Interim / Quarterly Report • May 14, 2025
40_rns_2025-05-14_bf00c15a-478d-4c55-b508-ee05dd6ab715.pdf
Interim / Quarterly Report
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Interim Statement 31 March 2025
Aumann AG, Beelen
Aumann in figures
| Three months (unaudited) | 2025 | 2024 | Δ 2025 / 2024 |
|---|---|---|---|
| €k | €k | % | |
| Order backlog | 173,447 | 313,866 | -44.7 |
| Order intake | 51,339 | 75,958 | -32.4 |
| Earnings figures IFRS | €k | €k | % |
| Revenue | 60,511 | 64,536 | -6.2 |
| thereof E-mobility | 50,971 | 48,611 | 4.9 |
| Operating performance | 60,538 | 64,600 | -6.3 |
| Total performance | 61,702 | 65,556 | -5.9 |
| Cost of materials | -32,636 | -36,050 | -9.5 |
| Personnel costs | -19,472 | -20,033 | -2.8 |
| EBITDA | 6,583 | 6,747 | -2.4 |
| EBITDA margin | 10.9% | 10.5% | |
| EBIT | 5,012 | 5,147 | -2.6 |
| EBIT margin | 8.3% | 8.0% | |
| EBT | 5,635 | 5,950 | -5.3 |
| EBT margin | 9.3% | 9.2% | |
| Consolidated net profit | 3,898 | 3,937 | -1.0 |
| Earnings figures IFRS (adjusted)* | €k | €k | % |
| Adj. EBITDA | 6,748 | 6,919 | -2.5 |
| Adj. EBITDA margin | 11.2% | 10.7% | |
| Adj. EBIT | 5,198 | 5,341 | -2.7 |
| Adj. EBIT margin | 8.6% | 8.3% | |
| Adj. EBT | 5,821 | 6,143 | -5.2 |
| Adj. EBT margin | 9.6% | 9.5% | |
| Figures from the statement | 31 Mar | 31 Dec | |
| of financial position IFRS | €k | €k | % |
| Non-current assets | 81,615 | 82,128 | -0.6 |
| Current assets | 248,325 | 243,314 | 2.1 |
| thereof cash and equivalents ** | 139,609 | 145,100 | -3.8 |
| Issued capital (share capital) | 14,345 | 14,345 | 0.0 |
| Other equity | 173,459 | 187,370 | -7.4 |
| Total equity | 187,804 | 201,715 | -6.9 |
| Equity ratio | 56.9% | 62.0% | |
| Non-current liabilities | 37,975 | 37,276 | 1.9 |
| Current liabilities | 104,161 | 86,451 | 20.5 |
| Total assets | 329,941 | 325,442 | 1.4 |
| Net cash (+) or net debt (-) ** | 133,301 | 138,181 | -3.5 |
| Employees | 867 | 891 | -2.7 |
* For details of adjustments please see the information in the results of operations, financial position and net assets. ** This figure includes securities.
Rounding differences can occur in this report with regard to percentages and figures.
Page 2
Business performance, result of operations, financial position and net assets
Business performance
Aumann AG demonstrated continued solid profitability in the first quarter of 2025 – despite a persistently challenging economic environment. Revenue amounted to €60.5 million, representing an expected decrease of 6.2% compared to the previous year. In contrast, the EBITDA margin improved to 10.9%, exceeding both the prior-year level of 10.5% and the guidance of 8 to 10% for the full year 2025. EBITDA totalled €6.6 million in the first quarter, compared to €6.7 million in the previous year, underlining the company's operational performance.
Order intake in the first quarter amounted to €51.3 million, representing a decrease of 32.4% from the prior-year figure of €76.0 million. Nevertheless, Aumann was once again able to increase order intake compared to the two previous quarters. A particular highlight in the E-mobility segment was a major order from a new customer in the field of battery systems. In addition, order intake in the Next Automation segment increased by 21.1% year-on-year to €8.5 million. The order backlog was at €173.4 million at the end of the quarter, compared to the exceptionally high prior-year figure of €313.9 million. Despite the expected decline, profitability in the order backlog remains at a high level.
For the 2025 financial year, Aumann continues to expect revenue in the range of €210 million to €230 million with an EBITDA margin of 8 to 10%. The rising sales figures for electric vehicles and the EU's decision to grant car manufacturers more time to meet climate targets are also providing fresh momentum for the continued development of electromobility. At the same time, Aumann is driving forward the expansion of its Next Automation segment, especially in the areas of clean tech, aerospace and life sciences.
As at 31 March 2025, Aumann had a strong liquidity position of €139.6 million and equity of €187.8 million, corresponding to a solid equity ratio of 56.9% – a strong financial foundation for further growth and potential acquisitions.
On 14 March 2025, the Supervisory Board of Aumann AG resolved, at the suggestion of the Executive Board, to cancel all of the 904,769 treasury shares purchased under the Share Buyback Programs 2023/I and 2023/II for the purpose of capital reduction. Following the cancellation of the treasury shares and the capital reduction taking effect, the share capital of Aumann AG amounts to €14,345 thousand (previously: €15,250 thousand) and is divided into 14,345,231 no-par value bearer shares with a notional share of the share capital of €1.00 per share.
In addition, on 14 March 2025, the Executive Board and Supervisory Board resolved to make use for the first time of the authorisation granted by the Annual General Meeting on 18 June 2024 to buy back treasury shares and to offer shareholders the buyback of up to 1,434,523 treasury shares as part of a voluntary public share buyback offer addressed to all shareholders. The share buyback was to be carried out at an offer price of €12.37 per share. The period for acceptance of the offer began on 25 March 2025 and ended on 22 April 2025. From Aumann's perspective, the voluntary public share buyback offer represents a contract liability, which is why a liability of €17.7 million was recognised and recorded as a reduction in equity as at 31 March 2025.
The Executive Board and the Supervisory Board will propose a dividend of 22 €-Cent per share to the Annual General Meeting.
Results of operations, financial position and net assets
Despite a challenging economic environment, the result of operations, financial position and net assets of the Aumann Group remains stable. Consolidated revenue in the first three months of the 2025 financial year amounted to €60.5 million, 6.2% below the prior-year figure of €64.5 million. Total performance after considering capitalised development work and other operating income declined by 5.9% year-onyear to €61.7 million.
The cost of materials decreased disproportionately by 9.5% to €32.6 million relative to revenue, while personnel expenses declined by 2.8% to €19.5 million in the first quarter of 2025.
EBITDA (earnings before interest, taxes, depreciation and amortisation) amounted to €6.6 million in the first three months of 2025 (previous year: €6.7 million). After depreciation and amortisation of €1.6 million (previous year: €1.6 million), EBIT (earnings before interest and taxes) for the Aumann Group was
at €5.0 million (previous year: €5.1 million). The financial result for the first three months was €0.6 million (previous year: €0.8 million), resulting in EBT (earnings before taxes) of €5.6 million (previous year: €5.9 million). Net income amounted to €3.9 million (previous year: €3.9 million), or €0.27 per share, based on an average of 14,345,231 shares outstanding during the period.
In connection with the stock option program, personnel costs were adjusted by €164.6 thousand (previous year: €172.0 thousand). This adjustment had a positive effect on adjusted EBITDA, which therefore amounted to €6.7 million (previous year: €6.9 million). In addition, depreciation and amortisation on assets capitalised as part of the purchase price allocation for Aumann Limbach-Oberfrohna GmbH and Aumann Lauchheim GmbH in the amount of €21.2 thousand was adjusted. This adjustment had a positive effect on adjusted EBIT, which totalled €5.2 million (previous year: €5.3 million).
Order intake in the first three months of 2025 amounted to €51.3 million (previous year: €76.0 million). The order backlog totalled €173.4 million as at 31 March 2025 (previous year: €313.9 million).
Equity of the Aumann Group amounted to €187.8 million as at 31 March 2025 (31 December 2024: €201.7 million). The decrease is primarily attributable to the equity-reducing recognition of a liability in the amount of €17.7 million in connection with the voluntary public share buyback offer. Based on the consolidated balance sheet total of €329.9 million, the equity ratio was 56.9%.
As at 31 March 2025, the Aumann Group had cash and cash equivalents including securities of €139.6 million (31 December 2024: €145.1 million). After deducting the Group's financial liabilities of €6.3 million (31 December 2024: €6.9 million), net cash amounted to €133.3 million, compared to €138.2 million as at 31 December 2024.
Segments
In the E-mobility segment, revenue increased to €51.0 million in the first quarter of 2025 (previous year: €48.6 million). The segment's EBITDA after three months amounted to €6.2 million (previous year: €5.3 million). EBIT amounted to €4.9 million (previous year: €4.1 million). Order intake in the E-mobility segment reached €42.8 million (previous year: €68.9 million).
In the first three months of the year, revenue in the Next Automation segment amounted to €9.5 million (previous year: €15.9 million). The segment's EBITDA after three months amounted to €1.4 million (previous year: €2.3 million). EBIT amounted to €1.1 million (previous year: €1.9 million). Order intake in the Next Automation segment reached €8.5 million (previous year: €7.0 million).
Transactions after the reporting period
On 8 April 2025, the Executive Board and Supervisory Board of Aumann AG resolved to increase the price of the voluntary public share buyback offer to €14.25 per share. All other terms of the share buyback remain unchanged.
On 2 May 2025, Aumann AG announced that a total of 1,434,244 shares were repurchased at a price of €14.25 per share, corresponding to 10.00% of the company's share capital. The settlement and thus the purchase price payment to the banks was wound up on 6 May 2025. The Group's liquidity decreased by €20.4 million after the quarterly reporting date as a result of the settlement of the share buyback.
Outlook
For the 2025 financial year, Aumann conHnues to expect revenue in the range of €210 million to €230 million with an EBITDA margin of 8 to 10%.
Beelen, 13 May 2025
The Executive Board of Aumann AG
| IFRS interim consolidated financial statements | |
|---|---|
| ------------------------------------------------ | -- |
| IFRS consolidated statement of profit or loss | 1 Jan - 31 Mar 2025 |
1 Jan - 31 Mar 2024 |
|---|---|---|
| €k | €k | |
| Revenue | 60,511 | 64,536 |
| Increase (+) / decrease (-) in finished goods and work in progress |
27 | 65 |
| Operating performance | 60,538 | 64,600 |
| Capitalised development costs | 747 | 633 |
| Other operating income | 417 | 323 |
| Total performance | 61,702 | 65,556 |
| Cost of raw materials and supplies | -27,972 | -30,655 |
| Cost of purchased services | -4,664 | -5,395 |
| Cost of materials | -32,636 | -36,050 |
| Wages and salaries | -14,825 | -15,732 |
| Social security and pension costs | -4,647 | -4,301 |
| Personnel costs | -19,472 | -20,033 |
| Other operating expenses | -3,010 | -2,727 |
| Earnings before interest, taxes, depreciation and amortisation | ||
| (EBITDA) | 6,583 | 6,747 |
| Depreciation and amortisation | -1,571 | -1,599 |
| Earnings before interest and taxes (EBIT) | 5,012 | 5,147 |
| Other interest and similar income | 733 | 998 |
| Interest and similar expenses | -110 | -196 |
| Net finance costs | 623 | 802 |
| Earnings before taxes (EBT) | 5,635 | 5,950 |
| Income tax expense | -1,708 | -1,921 |
| Other taxes | -29 | -91 |
| Earnings after taxes | 3,898 | 3,937 |
| Earnings per share (in €) - undiluted | 0.27 | 0.27 |
| Earnings per share (in €) - diluted | 0.27 | 0.27 |
| IFRS consolidated statement of comprehensive income | 1 Jan - 31 Mar | 1 Jan - 31 Mar |
| 2025 | 2024 | |
| €k | €k | |
| Earnings after taxes | 3,898 | 3,937 |
| Items that may be reclassified subsequently to profit or loss | ||
| Currency translation differences | -94 | 18 |
| Fair Value Reserve - Debt instruments | -10 | -39 |
| Reclassifications to profit or loss (debt instruments) | -45 | 0 |
| Other comprehensive income after taxes | -149 | -21 |
Comprehensive income for the reporting period 3,749 3,916
| Page 5 | ||
|---|---|---|
| Statement of financial position | 31 Mar 2025 | 31 Dec 2024 |
|---|---|---|
| Assets (IFRS) | unaudited | audited |
| €k | €k | |
| Non-current assets | ||
| Internally generated intangible assets | 11,876 | 11,969 |
| Concessions, industrial property rights and similar rights |
1,389 | 1,602 |
| Goodwill | 38,484 | 38,484 |
| Intangible assets | 51,749 | 52,055 |
| Land and buildings including buildings on third-party land |
20,571 | 20,842 |
| Technical equipment and machinery | 2,427 | 2,564 |
| Other equipment, operating and office equipment | 4,203 | 4,308 |
| Advance payments and assets under development | 970 | 698 |
| Property, plant and equipment | 28,171 | 28,412 |
| Deferred tax assets | 1,696 | 1,661 |
| 81,615 | 82,128 | |
| Current assets | ||
| Raw materials and supplies | 3,212 | 3,155 |
| Work in progress | 2,177 | 2,098 |
| Finished goods and commodities | 175 | 175 |
| Advance payments | 7,880 | 3,470 |
| Inventories | 13,444 | 8,898 |
| Trade receivables | 22,843 | 17,541 |
| Contract assets | 63,693 | 64,841 |
| Other current assets | 8,736 | 6,934 |
| Trade receivables and other current assets | 95,272 | 89,316 |
| Securities | 3,871 | 5,854 |
| Cash in hand | 7 | 4 |
| Bank balances | 135,731 | 139,243 |
| Cash in hand, bank balances | 135,738 | 139,246 |
| 248,325 | 243,314 | |
| Total assets | 329,941 | 325,442 |
Page 6
| Statement of financial position | 31 Mar 2025 | 31 Dec 2024 |
|---|---|---|
| Equity and liabilities (IFRS) | unaudited | audited |
| €k | €k | |
| Equity | ||
| Issued capital | 14,345 | 14,345 |
| Capital reserves | 6,410 | 5,420 |
| Retained earnings | 167,049 | 181,950 |
| 187,804 | 201,715 | |
| Non-current liabilities | ||
| Pension provisions | 14,409 | 14,424 |
| Liabilities to banks | 2,387 | 2,801 |
| Liabilities from leasing | 1,290 | 1,470 |
| Other provisions | 1,906 | 1,861 |
| Deferred tax liabilities | 17,252 | 15,975 |
| Other liabilities | 732 | 744 |
| 37,975 | 37,276 | |
| Current liabilities | ||
| Other provisions | 23,822 | 20,171 |
| Trade payables | 19,251 | 26,247 |
| Contract liabilities | 22,767 | 21,691 |
| Provisions with the nature of a liability | 13,736 | 10,498 |
| Liabilities to banks | 1,656 | 1,656 |
| Liabilities from leasing | 975 | 991 |
| Tax provisions | 1,614 | 1,603 |
| Other liabilities | 20,341 | 3,594 |
| 104,161 | 86,451 | |
| Total equity and liabilities | 329,941 | 325,442 |
Page 7
| Consolidated statement of cash flows | 1 Jan - 31 Mar 2025 |
1 Jan - 31 Mar 2024 |
|---|---|---|
| unaudited | €k | €k |
| 1. Cash flow from operating activities | ||
| Earnings before interest and taxes (EBIT) | 5,012 | 5,147 |
| Depreciation and amortisation | 1,571 | 1,599 |
| Increase (+)/ decrease (-) in provisions | 3,680 | 340 |
| Gains (-)/ Losses (+) from disposal of PPE | -5 | -1 |
| Other non-cash expenses/income | -56 | 38 |
| Adjustments for non-cash transactions | 5,190 | 1,977 |
| Increase (-)/ decrease (+) in inventories, trade receivables and other assets |
-10,768 | 1,580 |
| Decrease (-)/ increase (+) in trade payables and other liabilities |
-3,692 | -9,717 |
| Change in working capital | -14,460 | -8,137 |
| Income taxes paid | -232 | -324 |
| Other tax payments | -29 | 0 |
| Interest received | 792 | 1,098 |
| Cash flow from operating activities | -3,726 | -238 |
| 2. Cash flow from investing activities | ||
| Investments (-)/ divestments (+) intangible assets | -381 | -641 |
| Investments (-)/ divestments (+) property, plant and equipment | -576 | -594 |
| Proceeds from financial assets and securities | 2,001 | 2,500 |
| Cash flow from investing activities | 1,044 | 1,264 |
| 3. Cash flow from financing activities | ||
| Purchase of treasury shares | 0 | -3,563 |
| Repayments of financial loans | -414 | -414 |
| Repayments of leasing liabilities | -265 | -346 |
| Interest payments | -110 | -196 |
| Cash flow from financing activities | -789 | -4,519 |
| Cash and cash equivalents at end of period | ||
| Change in cash and cash equivalents (Subtotal 1-3) | -3,471 | -3,493 |
| Effects of changes in foreign exchange rates (no cash effect) | -38 | 6 |
| Cash and cash equivalents at start of reporting period | 139,246 | 133,045 |
| Cash and cash equivalents at end of period | 135,738 | 129,558 |
IFRS interim consolidated financial statements
Page 8
| Segment reporting | Next Automation | E-mobility | Reconciliation | Group |
|---|---|---|---|---|
| 1 Jan - 31 Mar 2025 | €k | €k | €k | €k |
| unaudited | ||||
| Revenue | 9,540 | 50,971 | 0 | 60,511 |
| EBITDA | 1,352 | 6,210 | -978 | 6,583 |
| Depreciation and amortisation | -262 | -1,290 | -19 | -1,571 |
| EBIT | 1,089 | 4,920 | -997 | 5,012 |
| Net finance cost | -24 | -12 | 658 | 623 |
| EBT | 1,065 | 4,908 | -339 | 5,635 |
| EBITDA-margin | 14.2% | 12.2% | 10.9% | |
| EBIT-margin | 11.4% | 9.7% | 8.3% | |
| Trade receivables and Receivables from construction contracts |
16,159 | 70,377 | 0 | 86,536 |
| Contract liabilities | 4,048 | 18,720 | 0 | 22,767 |
| Segment reporting | Next Automation | E-mobility | Reconciliation | Group |
|---|---|---|---|---|
| 1 Jan - 31 Mar 2024 | €k | €k | €k | €k |
| unaudited | ||||
| Revenue | 15,925 | 48,611 | 0 | 64,536 |
| EBITDA | 2,271 | 5,346 | -870 | 6,747 |
| Depreciation and amortisation | -386 | -1,200 | -14 | -1,599 |
| EBIT | 1,885 | 4,146 | -884 | 5,147 |
| Net finance cost | -73 | 18 | 857 | 802 |
| EBT | 1,812 | 4,164 | -27 | 5,950 |
| EBITDA-margin | 14.3% | 11.0% | 10.5% | |
| EBIT-margin | 11.8% | 8.5% | 8.0% | |
| Trade receivables and Receivables from construction contracts |
21,815 | 78,318 | 596 | 100,729 |
| Contract liabilities | 11,291 | 65,931 | 0 | 77,221 |
Financial calendar
Interim Statement Q1 2025 13 May 2025
Annual General Meeting 2025 13 June 2025
Half-year Financial Report 2025 14 August 2025
Interim Statement Q3 2025 13 November 2025
End of the 2025 financial year 31 December 2025
Contact Aumann AG Dieselstraße 6 48361 Beelen Germany
Tel. +49 2586 888 7800 www.aumann.com [email protected]
Legal Notice Aumann AG Dieselstraße 6 48361 Beelen Germany
