AI assistant
MAX Automation SE — Interim / Quarterly Report 2018
Nov 14, 2018
278_10-q_2018-11-14_282cef0e-c9dd-44dc-9349-bf6568099573.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
MAX Automation SE
QUARTERLY STATEMENT III.2018
Key share data QIII 2018
| Ticker/ISIN | MXHN/DE000A2DA588 | |||
|---|---|---|---|---|
| Registrated capital | 29.46 Mio. | |||
| Closing price (September 30, 2018)* |
5.88 EUR | |||
| Highest/lowest price* 9.10 EUR/5.38 EUR | ||||
| Price performance in Absolut figures** |
$-27.8%$ | |||
| Market- Capitalization (September 30, 2018) |
173.2 Mio. Euro | |||
| AG Observation period: 1/1-9/30/.2018 |
*Closing prices on the Xetra trading system of Deutsche Börse |
Dates
German Equity Forum Nov. 26-28, 2018
FORWORD BY THE MANAGEMENT DIRECTORS
Dear Shareholders.
In late September, our company's Supervisory Board made a very important decision for the continuing development of the MAX Group. Our Group will withdraw from the construction of $|$ special purpose machines and assembly systems for automotive customers in the Mobility Automation segment. As a consequence, the subsidiaries ELWEMA, the IWM Group and the associated majority holding in MAX Automation (Shanghai) will be sold. We are confident that this strategic decision will have a positive impact on the profitability, risk profile and financial strength of our Group in the medium term.
The companies to be sold are operating in a challenging and highly competitive environment. It $\vert$ is characterized by a high level of funds tied up as a result of the necessary pre-financing of projects and lower profitability compared with other MAX activities. These conditions, which have recently intensified, are becoming increasingly difficult to reconcile with our Group's return targets and risk profile. Withdrawing from this business will give us financial and entrepreneurial scope for profitable growth in our other business segments.
We have therefore initiated structured sales processes for the IWM Group, ELWEMA and MAX Automation (Shanghai), which are to be completed in the course of the coming year.
From the third quarter of 2018, the assets, liabilities as well as the results of the subsidiaries to be divested will be reported in total as discontinued operations in accordance with IFRS accounting (IFRS 5). Our Group's figures for the first nine months show a pleasing order situation for continuing operations. Incoming orders were 45% higher than the corresponding figure for $|$ the previous year, and the order backlog at the end of September had even grown by more than 70%. The MAX Group has a good basis for the fourth quarter and the coming fiscal year in its core businesses of Industrial Automation and Environmental Technology.
After completion of the planned transactions, MAX Automation will continue its strategy of growth in its business segments with a significantly improved balance sheet and financial basis. We are convinced that the positive development the Group recorded in previous years can be optimized in terms of returns and continued with a less volatile development.
Daniel Fink Andreas Krause
Managing Directors of MAX Automation SE
CONSOLIDATED RESULTS AT A GLANCE
| (in EUR mill.) | Q1-Q3 2018 | Q1-Q3 2017 | Q3 2018 | Q3 2017 |
|---|---|---|---|---|
| New order intake | 249.6 | 172.1 | 86.2 | 64.7 |
| Order book position | 177.2 | 103.6 | 177.2 | 103.6 |
| Revenue | 198.0 | 186.3 | 64.5 | 59.7 |
| EBITDA | 15.9 | 17.3 | 4.6 | 6.0 |
| EBIT before PPA | 12.0 | 13.5 | 3.2 | 4.8 |
| EBIT after PPA | 11.2 | 12.7 | 3.0 | 4.5 |
| Earnings for the period | $-11.9$ | 8.6 | $-9.5$ | 3.6 |
| EBIT per share before PPA (EUR) | 0.41 | 0.46 | 0.11 | 0.16 |
| Earnings per share (in EUR) | $-0.39$ | 0.29 | $-0.32$ | 0.12 |
MAX Automation | Business Development | Economic Report | Guidance | Quarterly Financial Statement | Imprint
<V <8NK8YZ89 EF\ EC]G\ K8 <gN895JT9 =TL9M Tc >D? DgKTYLK5TV <B M865M8M KLK K8 9TgN aTgOM a5KM9La c9TY JN865LO Ng9NTJ8 YL65V8J : LJJ8YZO O5V8J cT9 LgKTYTK58 6gJKTY89J 5V K8 >TZ5O5K DgKTYLK5TV ZgJ5V8JJ J8IY8VKQ 48 LJJ8KJ LVM O5LZ5O5K58J Tc K8 9TgN 6TYNLV58J KT Z8 M58JK8M L98 JgZJ8g8VKO 98NT9K8M LJ M5J6TVK5Vg8M TN89LK5TVJ 5V L66T9MLV68 a5K;H< F c9TY K8 K59M gL9K89 Tc EC]G TVaL9MQ 45J Y8LVJ KLK K8 JLO8J LVM 8L9V5VIJ 6TVK95ZgK5TVJ Tc K8 ;> 9TgN\ B?B>D DgKTYTK58 YZ@ LVM K8 F]f JL98 5V >D? DgKTYLK5TV X<LVIL5^ UTQ\ ?KMQ L98 VT OTVI89 5V6OgM8M 5V K8 6TVJTO5MLK8M 5V6TY8 JKLK8Y8VKQ 48 8L9V5VIJ LcK89 KL@8J Tc K8 6TYNLV58J KT Z8 JTOM L98 JTaV 5V L J8NL9LK8 5K8Y LcK89 K8 8L9V5VIJ Tc 6TVK5Vg5VI TN89LK5TVJQ =8K 5V6TY8 cT9 K8 N895TM cT9 K8 9TgN LJ L aTO8 5J 6LO6gOLK8M c9TY K8 JgY Tc K8 KaT 98JgOKJQ 48 6TYNL9LK58 c5Ig98J cT9 K8 N95T9d8L9 N895TML8 Z88V LMAgJK8M L66T9M5VIOQ
;V K8 6TVJTO5MLK8M ZLOLV68 J88K LJ Tc A868YZ89 []\ EC]e\ K8 LJJ8KJ LVM c5VLV65LO LOg8J Tc LOO 6TYNLV58J L98 5V6OgM8M<sup>B</sup> 5V K8 ZLOLV68 J88K LJ Tc <8NK8YZ89 [C\ EC]G\ M5J6TVK5Vg8M TN89LK5TVJ L98 JTaV J8NL9LK8O 5V L V8a 5K8Y LJ CDJJ8KJ `8OM cT9 JLO8D LVM LJ
;V K8 c59JK V5V8 YTVKJ\ >D? DgKTYLK5TV <B 986T9M8M L ITTM T9M89 M88OTNY8VK 5V 5KJ 6TVK5Vg5VI ZgJ5V8JJ gV5KJQ ;V6TY5VI T9M89J 5V K8 c59JK V5V8 YTVKJ Tc EC]G 5V698LJ8M Z RFf KT BWH ERPQS Y5OO5TV XE] d E[ EC]eF BWH ]eEQ] Y5OO5TV^Q ;V6TY5VI T9M89J LM L Z9TLM ZLJ5J L69TJJ LOO ZgJ5V8JJ L98LJ Tc K8 9TgNQ DK BWH ]eeQE Y5OO5TV\ K8 T9M89 ZL67OTI LJ Tc <8NK8YZ89 [C\ EC]G\ aLJ e]QCf5I89 KLV TV K`8 JLY8 MLK8 OLJK 8L9 X<8NK8YZ89 [C\ EC]eF BWH ]C[QS Y5OO5TV^Q
;V K8 c59JK V5V8 YTVKJ Tc EC]G\ 9TgN JLO8J 5V698LJ8M Z SQEf KT BWH ]PGQC Y5OO5TV XE] d E[ EC]eF BWH ]GSQ[ Y5OO5TV^Q UTVJTO5MLK8M 8L9V5VIJ Z8cT98 5VK898JK LVM KL@8J XB=;4^ LVM Z8cT98 LYT9K5hLK5TV c9TY Ng96LJ8 N9568 LOOT6LK5TV XbbD^ LYTgVK8M KT BWH ]EQC Y5OO5TV 5V 6TVK5Vg5VI TN89LK5TVJ XE] d E[ EC]eF BWH ][QF Y5OO5TVB d]]QEf^Q 48 98JgOK 5V6OgM8J 5V8JKY8VKJ KT 98JK9g6Kg98 K8 9TgNGJ 95J7 YLVLI8Y8VK LVM 5VK89VLO 6TVK9TO JJK8YQ >D? DgKTYLK5TV a5OO 6TVK5Vg8 KT 5V8JK 5V K8 TNK5Y5hLK5TV Tc5KJ 98NT9K5VI LVM 6TVK9TOO5VI 5VJK9gY8VKJQ
48 B=;4 YL9I5V <sup>H</sup> 5V 98OLK5TV KT KTKLOTgKNgK <sup>H</sup> LYTgVK8M KT SQCf LcK89 eQ]f 5V K8 JLY8 N895TM Tc K`8 N985TgJ 8L9Q A8N9865LK5TV LVM XE] d E[ EC]eF BWH ]EQe Y5OO5TVB d]]Q[f^Q DK BWH d]QP Y5OO5TV\ V8K
5VK898JK 5V6TY8 aLJ JO5IKO5I89 KLV 5V K8 JLY8 N895TM Tc K8 N985TgJ 8L9 XBWH d]QG Y5OO5TV^Q
;V K8 c59JK V5V8 YTVKJ\ >D? DgKTYLK5TV 986T9M8M 8L9V5VIJ c9TY 6TVK5Vg5VI TN89LK5TVJ Tc BWH ]]Q] Y5OO5TV\ a56 aLJ BWH RQR Y5OO5TV 5I89 KLV K8 N985TgJ 8L9GJ BWH SQe Y5OO5TVQ
48 98JgOK c9TY M5J6TVK5Vg8M TN89LK5TVJ LYTgVK8M KT BWH dE[QC TN89LK5VI LVM 8@K9LT9M5VL9 OTJJ8J LK K8 6TYNLV58J Tc K8 ;> 9TgN LJ a8OO LJ KT TK89 VTVd986g995VI 8@N8VJ8JQ 8 TK89 LVM\ K8 JgZJ5M5L9 B?B>D DgKTYTK58 YZ@ YLM8 L NTJ5K58 6TVK95ZgK5TV KT 8L9V5VIJQ
48 >D? DgKTYLK5TV 9TgN 6OTJ8M K8 c59JK V5V8 YTVKJ a5K LV T89LOO 98JgOK Tc BWH d]]QP Y5OO5TV XE] d E[ EC]eF BWH IGQS Y5OO5TV^Q
48 9TgNGJ 8g5K 9LK5T LJ Tc <8NK8YZ89 [C\ EC]G\ aLJ EPf 6TYNL98M KT R[f LJ Tc A868YZ89 []\ EC]eQ =LOLV68 J88K 8g5K M8698LJ8M Z BWH EFQR Y5OO5TV KT BWH ]][QS Y5OO5TVQ
T975VI 6LN5KLO cT9 K8 9TgN LJ L aTO8 XZLJ8M TV ]EdYTVK9TOO5VI 98g598Y8VKJ^ c8OO Z E]f T9 L9TgVM BWH EG Y5OO5TV 6TYNL98M a5K K8 N95T9d8L9 N895TM X<8NK8YZ89 [C\ EC]e^Q <V K5J ZLJ5J\ ZTKK8 6TVK5Vg5VI TN89LK5TVJ XdEFf T9 L9TgVM BWH ]S Y5OO5TV^ LVM K8 M5J6TVK5Vg8M TN89LK5TVJ Jgcc898M M86O5V8JQ 48 Y8LJg98J 5VK9TMg68M LK K8 TN89LK5VI 6TYNLV58J KT 5YN9T8 98685LZO8J LVM N9T68JJ YLVLI8Y8VK LVM KgJ 98Mg68 cgVMJ K58M gN L98 Z8I5VV5VI
=8K M8ZK 5V698LJ8M KT BWH eeQC Y5OO5TV XA868YZ89 []\ EC]eF BWH ReQe Y5OO5TVB IS]QSf^ Mg8 KT L6g5J5K5TVJ LVM I9TaK` 5V TN89LK5VI
48 ;VMgJK95LO DgKTYLK5TV J8IY8VK <sup>H</sup> LMAgJK8M cT9 K8 JLO8J LVM 8L9V5VIJ 6TVK95ZgK5TVJ Tc M5J6TVK5Vg8M TN89LK5TVJ H 6TVK5Vg8M KT M88OTN NTJ5K58OQ DcK89 V5V8 YTVKJ\ 5V6TY5VI T9M89J 5V 6TVK5Vg5VI TN89LK5TVJ 98L68M BWH ]SCQe Y5OO5TV LcK89 BWH ]CCQe Y5OO5TV 5V K8 JLY8 N895TM Tc K8 N985TgJ 8L9 XIFPQFf^Q 48 ?5c8 <658V68 DgKTYLK5TV LVM b9T68JJ 486VTOTI58J ZgJ5V8JJ gV5KJ a898 K8 N95YL9 M9589J Tc I9TaKQ 48 T9M89 ZL67OTI LJ Tc <8NK8YZ89 [C\ EC]G\ 5V698LJ8M KT BWH ][GQF Y5OO5TV X<8NK8YZ89 [C\ EC]eF BWH eEQ[ Y5OO5TVB IP]Qef^Q <8IY8VK JLO8J 9TJ8 JO5IKO 5V K8 c59JK V5V8 YTVKJ Tc EC]G KT BWH ]]PQS Y5OO5TV 6TYNL98M a5KBWH ]]GQS Y5OO5TV 5V K8 JLY8 N895TM Tc K8 N985TgJ 8L9 XICQGf^Q DK BWH ]CQF Y5OO5TV\ J8IY8VK B=;4 Z8cT98 bbD LYT9K5hLK5TV LVM LMAgJK8M cT9 K8 N9T688MJ c9TY K8 JLO8 Tc =<> bL67K86 aLJ LOJT LZT8 K8 N985TgJ 8L9GJ O88O XE] d E[ EC]eF BWH ][QS Y5OO5TVB d EEQRf^Q
The Environmental Technology segment increased its order intake in the first nine months by almost a quarter from EUR 71.4 million to EUR 88.9 million (+24.6%). At EUR 38.6 million, the order backlog as of September 30, 2018, was 23.3% above the same reporting date of the previous year (September 30, 2017: EUR 31.3 million). Segment sales rose by 15.4% to EUR 79.3 million in the first nine months (Q1 - Q3 2017: EUR 68.7 million). Segment EBIT before PPA grew to EUR 5.9 million (Q1 - Q3 2017: EUR 4.5 million; +24.6%).
FOCUS ON CORE BUSINESS
On March 14, 2018, MAX Automation announced that it had completed the sale of NSM Packtec GmbH, a subsidiary of the Group company NSM Magnettechnik GmbH (closing). With this divestment, the Industrial Automation division will continue to focus on its main business areas in line with the medium-term growth strategy for 2021. The acquirer of NSM Packtec GmbH is the Chinese company Ningbo Lehui International, one of the country's leading suppliers of equipment for filling and packaging beverages and food
MAX AUTOMATION ADJUSTS FARNINGS EXPECTATIONS FOR FISCAL YEAR 2018
MAX Automation SE announced on June 28, 2018, that it has adjusted its earnings expectations for fiscal year 2018. This is due to expenses from ongoing projects of the subsidiaries of the IWM Automation Group for several automotive customers. This resulted in an economic revaluation of the projects that were not on schedule. MAX Automation immediately initiated a number of structural measures designed above all to improve project management at the IWM Group. Key positions at the subsidiaries were also reassigned.
MAX AUTOMATION resolves to sell subsidiaries
The Supervisory Board of MAX Automation SE decided on September 25, 2018, that the Group will no longer pursue the construction of special purpose machines / assembly lines for automotive customers. To this end, a structured sales process was initiated for the subsidiaries of the IWM Automation Group (IWM Automation GmbH and IWM Automation Bodensee GmbH), ELWEMA Automotive GmbH and in connection with this the 51% share in MAX Automation (Shanghai) Co., Ltd. An in-depth analysis of the market conditions and the competitive situation of all the Group's companies came to the conclusion that the construction of special purpose machines / assembly lines for automotive customers no longer fits into the profitability and risk profile of the high-tech mechanical engineering Group against the backdrop of changing customer requirements. The aim is to complete the sales
process in the course of the coming year. The companies to be sold will be reported as discontinued operations from September 30, 2018, in accordance with IFRS accounting.
ECONOMIC REPORT
Incoming Orders
Order backlog
Group sales
- · Incoming orders in the first nine months of 2018 amounted to EUR 249.6 million. This represents an increase of 45.0% on the first nine months of the previous year (Q1 - Q3 2017: EUR 172.1 million).
-
· Incoming orders had a broad basis across all business segments of the MAX Group.
-
· The consolidated order backlog as of September 30, 2018, increased significantly by 71.0% to EUR 177.2 million (September 30, 2017: EUR 103.6 million).
-
· The book-to-bill ratio reached 1.12 (September 30, 2017: 1.18), indicating continued growth in the core businesses s reach
-
· Group sales rose by 6.2% to EUR 198.0 million in the first nine months of 2018 (Q1 - Q3 2017: EUR 186.3 million).
- · The export share of sales amounted to 62% after 65% in the same period of the previous year.
- . The total operating performance increased by 6.0% to EUR 201.9 million in the first nine months (Q1 - Q3 2017: EUR 190.5 million).
- · Sales rose to EUR 64.5 million in the third quarter of 2018 (Q3 2017: EUR 59.7 million; +8%).
- MAX Automation | Business Development | Economic Report | Guidance | Quarterly Financial Statement | Imprint
}~ ~
~ ¡
- ¢ £¤¥¦¤§¨©ª«¬© ¬ª¥¨¥®¦ ¯¬°¤¬ ¨¥«¬¬¦« ª¥© «ª±¬¦ ²³´µ¶· ª¥© ¸¸¹ ©¬º¬»¨ª«¨¤¥ ©¬»¬ª¦¬© «¤ ³¼½ ¾¿ÀÁ ¨§§¨¤¥ ²Ã¾ Ä ÃÅ ¿Á¾ÆÇ ³¼½ ¾ÅÀÈ ¨§§¨¤¥É ľ¾À¿Ê·À ¶Ë¨¦ °¨®Ì¬ ¨¥»§Ì©¬¦ ¨¥Í¬¦«Â¬¥«¦ «¤ ¬¦«Ì»«Ì¬ «Ë¬ Τ̺Ϧ ¨¦Ð ª¥ª®¬Â¬¥« ª¥© ¨¥«¬¥ª§ »¤¥«¤§ ¦Ñ¦«¬ÂÀ
- ¢ ¶Ë¬ ³´µ¶ ª®¨¥ ¨¥ ¬§ª«¨¤¥ «¤ «¤«ª§ ¤º¬ª«¨¥® º¬°¤Âª¥»¬ °¬§§ «¤ ÒÀÁÊ ²Ã¾ Ä ÃÅ ¿Á¾ÆÇ ÆÀ¾Ê·À
- ¢ Τ̺ ³´µ¶ ª°«¬ ¸¸¹ ©¬»¬ª¦¬© «¤ ³¼½ ¾¾À¿ ¨§§¨¤¥ ª°«¬ ³¼½ ¾¿ÀÆ ¨§§¨¤¥ ¨¥ «Ë¬ ¦ªÂ¬ º¬¨¤© ¤° «Ë¬ º¬Í¨¤Ì¦ Ѭª ²Ä¾¾ÀÅÊ·À
- Ó̪«¬ ¤° ¿Á¾Ô ²ÃÅ ¿Á¾ÆÇ ³¼½ ÕÀÔ ¨§§¨¤¥É ÄÅ¿ÀÖÊ·À
- ¢ ¬ª«¨¥® »ª¦Ë °§¤Ø °¤ «Ë¬ °¨¦« ¥¨¥¬ ¤¥«Ë¦ ¬¦Ì§«¬© ¨¥ ª »ª¦Ë ¤Ì«°§¤Ø ¤° ³¼½ ÄÅÀÖ Â¨§§¨¤¥ ²Ã¾ Ä ÃÅ ¿Á¾ÆÇ »ª¦Ë ¤Ì«°§¤Ø ¤° ³¼½ ľ¾À¿ ¨§§¨¤¥·À ¶Ë¬ ª¨¥ ¨¥°§Ì¬¥»¨¥® °ª»«¤ ت¦ «Ë¬ ¨¥»¬ª¦¬ ¨¥ «ª©¬ ºªÑª¯§¬¦À
- ¢ µ¥Í¬¦«¨¥® ª»«¨Í¨«¨¬¦ ¬¦Ì§«¬© ¨¥ »ª¦Ë ¤Ì«°§¤Ø ¤° ³¼½ ľÁÀÆ ¨§§¨¤¥ ²º¬Í¨¤Ì¦ ѬªÇ »ª¦Ë ¤Ì«°§¤Ø ¤° ³¼½ ÄÔÀÁ ¨§§¨¤¥·À ¶Ë¨¦ ¨¥»§Ì©¬¦ «Ë¬ ª»Ǫ́¦¨«¨¤¥ ¤° ¯©«¤¥¨» µ«ª§¨ª Ù½Ú ª¥© «Ë¬ ªۤ¨«Ñ ¨¥«¬¬¦« ¨¥ ܹÝ ¹Ì«¤Âª«¨¤¥ ²Ù˪¥®Ëª¨· £¤ÀÞ Ú«©À
- ¢ £ª¦Ë °§¤Ø °¤Â °¨¥ª¥»¨¥® ª»«¨Í¨«¨¬¦ ªÂ¤Ì¥«¬© «¤ ³¼½ ¾ÔÀÆ ¨§§¨¤¥ ª°«¬ ³¼½ ¾ÖÀÒ ¨§§¨¤¥ ¨¥ «Ë¬ ¦ªÂ¬ º¬¨¤© ¤° «Ë¬ º¬Í¨¤Ì¦ ѬªÀ
- ¢ £ª¦Ë ª¥© »ª¦Ë ¬Ǫ́ͪ§¬¥«¦ ª¦ ¤° Ù¬º«¬Â¯¬ ÅÁÞ ¿Á¾ÔÞ ªÂ¤Ì¥«¬© «¤ ³¼½ ÅÁÀ¾ ¨§§¨¤¥Þ »¤Âºª¬© «¤ ³¼½ ¿ÒÀ¿ ¨§§¨¤¥ ª« «Ë¬ ¯¬®¨¥¥¨¥® ¤° «Ë¬ ¬º¤«¨¥® º¬¨¤©À
- ¢ ߤШ¥® »ªº¨«ª§ °¤ «Ë¬ Τ̺ ª¦ ª Øˤ§¬ ²¯ª¦¬© ¤¥ ¾¿Ä¤¥«Ë ¤§§¨¥® ¬Ǫ́¬Â¬¥«¦· °¬§§ ¯Ñ ¿¾Ê ¤ ª¤Ì¥© ³¼½ ¿Ô ¨§§¨¤¥ ѬªÄ¤¥ÄѬªÀ ×¥ «Ë¨¦ ¯ª¦¨¦Þ ¯¤«Ë »¤¥«¨¥Ì¨¥® ¤º¬ª«¨¤¥¦ ²Ä¿ÈÊ ¤ ª¤Ì¥© ³¼½ ¾Ò ¨§§¨¤¥· ª¥© ©¨¦»¤¥«¨¥Ì¬© ¤º¬ª«¨¤¥¦ ¦Ì°°¬¬© ©¬»§¨¥¬¦À ¶Ë¬ ¬ª¦Ì¬¦ ¨¥«¤©Ì»¬© ª« «Ë¬ ¤º¬ª«¨¥® »¤Âºª¥¨¬¦ «¤ ¨Âº¤Í¬ ¬»¬¨Íª¯§¬¦ ª¥© º¤»¬¦¦ ª¥ª®¬Â¬¥« ª¥© «Ë̦ ¬©Ì»¬ °Ì¥©¦ Ǭ© ̺ ª¬ ¯¬®¨¥¥¨¥® «¤ «ªÐ¬ ¬°°¬»«À
- ¨§§¨¤¥ ¨¥ «Ë¬ °¨¦« ¥¨¥¬ ¤¥«Ë¦ ¤° ¿Á¾Ô ²Ã¾ Ä ÃÅ ¿Á¾ÆÇ ³¼½ ÈÀÕ ¨§§¨¤¥·À
D? DgKTYLK5TV <B LVVTgV68M TV <6KTZ89 EP\ EC]G\ K
LK K8 UB< Tc >D? DgKTYLK5TV\ ALV58O 5V7 XFe^\LJ M865M8M VTK KT 98V8a5J 8YNOTY8VK 6TVK9L6K\ a565J J8K KT 8@N598 TV >L96[]\ EC]P\ LJ8 J887J V8a 6LOOLVI8J cT9 K8 cgKg98Q @8 a5OO LOJT 98J5IV5J J8LK TV K8 6TYNLVGJ <gN895JT9 =TL9M LK K`8 JLY89Q 5V7 a5OON9TZLZO 6TVK5Vg8 KT Z8 LL5OLZO8 KT K
8 6TYNLV 5V LV LM5JT9 6LNL65K LJ NL9K Tc K8 5V5K5LK8M JK9LK8I56 98LO5IVY8VK LVM a5OO 5V NL9K56gOL9 L66TYNLV K8 a5KM9LaLO Tc K8 >D? 9TgN c9TY K8 6TVJK9g6K5TV Tc JN865LO YL65V8J LVM LJJ8YZO JJK8YJ cT9 LgKTYTK58 6gJKTY89J 5V K8 >TZ5O5K DgKTYLK5TV M55J5TV gVK5O6TYNO8K5TVQ
48 YLVLI8Y8VK Tc >D? DgKTYLK5TVLJ 6TVJ5JK8M Tc KaT >LVLI5VI A5986KT9J aT L98 LOJT Y8YZ89J Tc K8 9Q 5V7GJ J8LK TV K8 <gN895JT9 =TL9M a5OO 5V K8 cgKg98 Z8 c5OO8M Z L VTVd8@86gK58 Y8YZ89 Tc K8 <gN895JT9 =TL9MQ >LVLI5VI A5986KT9 DVM98LJ K9LgJ8 LOTV8 a5OO K8V 98N98J8VK >D? DgKTYLK5TV LVM 6TVK5Vg8 KT J898 TV K`8 6TYNLVGJ <gN895JT9 =TL9MQ
D? DgKTYLK5TV LVLI8Y8VK =TL9M YLM8 gN Tc K
88LMJ Tc K8 b9T68JJ 486VTOTI58J ZgJ5V8JJ gV5K c9TY K8 ;VMgJK95LO DgKTYLK5TV A55J5TV LVM c9TY K8 BV59TVY8VKLO 486`VTOTI A55J5TVQ
DNL9K c9TY K5J\ VT 88VKJ Tc NL9K56gOL9 J5IV5c56LV68 KT K8 V8K LJJ8KJ\ c5VLV65LO NTJ5K5TV LVM 98JgOKJ Tc TN89LK5TVJ Tc K8 >D? DgKTYLK5TV 9TgNL8 KL78V NOL68 J5V68 K8 8VM Tc K8 98NT9K5VI N895TMQ
FORECAST REPORT
Continuing operations in the Industrial Automation segment recorded a satisfactory order trend in 2018 to date, providing a good basis for the final quarter of 2018 and next fiscal year. The segment's companies will continue to focus on high-quality, technologically sophisticated solutions in their strategic business areas.
The Environmental Technology segment with the Vecoplan Group will continue to concentrate on the development and production of high-quality individual components and system solutions for the recycling and processing industries, among others. The segment is planned to be expanded both organically and in cooperation with strategic partners to make greater use of consolidation opportunities in the heterogeneous environmental technology sector. Related talks are being held with potential partners.
At the beginning of the fourth quarter, structured sales processes were initiated for the companies of the IWM Group as well as for ELWEMA Automotive GmbH and MAX Automation (Shanghai) Co., Ltd. These are proceeding according to plan and should be completed in the course of 2019.
A comprehensive future concept was designed for IMW Automation GmbH in Porta Westfalica parallel to the initiation of the sales process, which is to be implemented in the coming months. It aims primarily to bring the corporate structure closer to the market, improve project and process management and lay the foundation for a turnaround in earnings.
Following the segregation of the companies held for sale in accordance with IFRS 5, the Managing Directors have adjusted their statements for the full year 2018 accordingly. They estimate that
- consolidated sales in the amount of EUR 270 to 280 million and
- · consolidated earnings before interest and taxes (EBIT) and PPA depreciation of EUR 16 to 18 million
are achievable
Consolidated earnings after taxes have been heavily burdened in 2018 by operating and extraordinary losses of the IWM Group as well as one-time expenses for measures to improve its profitability.
MAX Automation is active in those areas of mechanical and plant engineering that serve long-term growth trends and enable attractive returns. The initiated withdrawal of its Mobility Automation segment from special purpose machine construction in the automotive sector will have a positive effect on the MAX Group's earnings situation, risk profile and financing power. These actions will thus create financial and entrepreneurial scope for the development and growth of the other MAX business activities.
BALANCE SHEET
| ASSETS | 30.09.2018 | 31.12.2017 |
|---|---|---|
| TEUR | TEUR | |
| Non-current assets | ||
| Intangible assets | 5170 | 13667 |
| Goodwill | 46263 | 53091 |
| Property, plant and equipment | 24465 | 31481 |
| Investment property | 1332 | 1379 |
| Equity accounted investments | 3013 | 3542 |
| Other investments | 1805 | 2593 |
| Deferred tax | 8248 | 4724 |
| Other non-current assets | 525 | 601 |
| Non-current assets, total | 90821 | 111078 |
| Current assets | ||
| Inventories | 53938 | 42095 |
| Trade receivables | 53563 | 138326 |
| Receivables due from related companies | 19 | 40 |
| Prepayments and accured income, and other current assets | 7145 | 5639 |
| Cash and cash equivalents | 19784 | 26154 |
| Assets held for sale | 165136 | |
| Current assets, total | 299585 | 212255 |
| Total assets | 390406 | 323332 |
BALANCE SHEET
| EQUITY AND LIABILITIES | 30.09.2018 | 31.12.2017 |
|---|---|---|
| TEUR | TEUR | |
| EQUITY | ||
| Subscribed share capital | 29459 | 29459 |
| Capital reserve | 18907 | 18907 |
| Revenue reserve | 22188 | 31168 |
| Equity difference resulting from currency translation | $-245$ | 66 |
| Non-controlling interests | 420 | 576 |
| Unappropriated retained earnings | 42899 | 58821 |
| Total Equity | 113628 | 138997 |
| Non-current liabilities | ||
| Non-current loans less current portion | 72854 | 64847 |
| Pension provisions | 937 | 963 |
| Other provisions | 2327 | 1489 |
| Deffered tax | 8186 | 8245 |
| Other non-current liabilities | 9597 | 1794 |
| Non-current liabilities, total | 93900 | 77338 |
| Current liabilities | ||
| Trade payables | 59165 | 72614 |
| Current loans and current portion of non-current loans | 23973 | 8416 |
| Verbindlichkeiten gegenüber nahestehenden Unternehmen | 148 | |
| Other current financial liabilities | 12405 | 12899 |
| Income tax provisions and liabilities | 5591 | 4962 |
| Other provisions | 5928 | 5113 |
| Other current liabilities | 1078 | 2845 |
| Liabilities in relation to assets held for sale | 74737 | |
| Current liabilities, total | 182877 | 106997 |
| Equity and liabilities, total | 390406 | 323332 |
STATEMENT OF COMPREHENSIVE INCOME
| Q1-Q3 2018 | Q1-Q3 2017 | Q3 2018 | Q3 2017 | |
|---|---|---|---|---|
| TEUR | TEUR | TEUR | TEUR | |
| Continuing operations | ||||
| Revenue | 197,972 | 186,348 | 64,501 | 59,687 |
| Change in finished goods and work-in- | ||||
| progress | 3,623 | 3,643 | 3,262 | 1,475 |
| Work performed by the company and | ||||
| captialized | 331 | 499 | 167 | 255 |
| Total operating revenue | 201,926 | 190,490 | 67,930 | 61,417 |
| Other operating revenue | 6,730 | 3,052 | 433 | 640 |
| Result from equity accounted investments | $-593$ | $-241$ | $-323$ | $-114$ |
| Cost of materials | $-93,875$ | $-86,067$ | $-31,669$ | $-26,706$ |
| Personnel expenses | $-67,254$ | $-62,556$ | $-22,034$ | $-20,516$ |
| Depreciation, amortization and impairment | ||||
| losses | $-4,720$ | $-4,621$ | $-1,628$ | $-1,507$ |
| Other operating expenses | $-30,989$ | $-27,406$ | $-9,746$ | $-8,726$ |
| Operating profit | 11,225 | 12,651 | 2,963 | 4,488 |
| Net interest result | $-1,897$ | $-1,781$ | $-808$ | $-616$ |
| Earnings before tax | 9,328 | 10,870 | 2,155 | 3,872 |
| Income taxes | 1,815 | $-4,143$ | 1,459 | $-1,720$ |
| Earnings from continuing operations | 11,143 | 6,727 | 3,614 | 2,152 |
| Discontinued operations | ||||
| Result from discontinued operations | $-23,045,311$ | 1,891,942 | $-13, 146, 130$ | 1,436,289 |
| Net income | $-11,902$ | 8,619 | $-9,532$ | 3,588 |
| of wich attributable to non-controlling | ||||
| interests | $-399$ | 25 | 12 | -5 |
| of wich attributable to shareholders of MAX | ||||
| Automation SE | $-11,503$ | 8,594 | $-9,544$ | 3,593 |
| Other comprehensive income that is never recycled to the income statement |
||||
| Actual gains and losses on employee benefits | $\mathbf{0}$ | $\overline{0}$ | $\overline{0}$ | $\mathbf{0}$ |
| Income taxes on actuarial gains and losses Other comprehensive income that can be |
$\overline{0}$ | $\mathbf 0$ | $\overline{0}$ | $\mathbf{0}$ |
| recycled to the income statement | ||||
| Change arising from currency translation | $-311$ | $-802$ | $-364$ | $-307$ |
| Total comprehensive income | $-12,213$ | 7,817 | $-9.896$ | 3,281 |
| of wich attributable to non-controlling | ||||
| interests | $-399$ | 25 | 12 | -5 |
| of wich attributable to shareholders of MAX | ||||
| Automation SE | $-11,814$ | 7,792 | $-9,908$ | 3,286 |
| Earnings per share (diluted and basic) in EUR | $-0.21$ | 0.29 | $-0.15$ | 0.12 |
| Earnings per share (diluted and basic) in EUR | ||||
| - continuing operations | 0.38 | 0.23 | 0.12 | 0.07 |
STATEMENT OF CASH FLOWS
| Q1-Q3 2018 | Q1-Q3 2017 | |
|---|---|---|
| Net income | $-11,903$ | 8,619 |
| Adjustments relating to the reconciliation of consolidated net | ||
| income for the year to cash flow from operating activities | ||
| Incometaxes | $-2,048$ | 3,788 |
| Net interest result | 2,322 | 2,059 |
| Depreciation of intangible assets | 11,345 | 3,368 |
| Depreciation of property, plant and equipment | 2,984 | 2,859 |
| Depreciation of investment property | 48 | 37 |
| Gain (-) / loss (+) on disposal of property, plant and equipment | $-68$ | 1 |
| Gain (-) / loss (+) from the sale of subsidiaries | $-3,333$ | |
| Change in deferred taxes recognized in income | $-4,008$ | 1,067 |
| Other non-cash expenses and income | 2,377 | 778 |
| Changes in assets and liabilities | ||
| Increase $(-)$ / decrease $(+)$ in other non-current assets | $-19$ | -80 |
| Increase $(-)$ / decrease $(+)$ in inventories | $-14,018$ | $-6,448$ |
| Increase (-) / decrease (+) in trade receivables | $-32,898$ | $-23,847$ |
| Increase $(-)$ / decrease $(+)$ in receivables due from related companies | 21 | $-19$ |
| Increase $\left(-\right)$ / decrease $\left(+\right)$ in prepayments, accured income and other | ||
| assets | 2,148 | |
| Increase $(-)$ / decrease $(+)$ in other non-current liabilities | 284 | |
| Increase $(-)$ / decrease $(+)$ in pensions provisions | $-27$ | |
| Increase $(-)$ / decrease $(+)$ in other provisions and liabilities | 1,720 | |
| Increase $(-)$ / decrease $(+)$ in in trade payables | 44,078 | $-5,649$ |
| $h = \frac{1}{2}$ (1) decrease (-) in liabilities to related parties | ||
| Income tax paid | $-2,690$ | $-2,385$ |
| Income tax reimburse | 27 | 571 |
| Cash flow from operating activities | $-3,859$ | $-11,157$ |
| Cash flow from investing activities | ||
| Outgoing payments for investments in intangible assets | $-1,006$ | $-1,985$ |
| Outgoing payments for investments in property, plant and equipment | $-2,478$ | $-3,027$ |
| Outgoing payments for investments in financial assets | 202 | $-3,545$ |
| Payments received from disposals of intangible assets | 623 | 285 |
| Payments received from disposals of property, plant and equipment | 222 | 247 |
| Outgoing payments for investment in subsidiaries, less cash | $-11,142$ | |
| $-8,025$ | ||
| $-4,019$ | ||
| 18,655 | ||
| $-161$ | ||
| 29,500 | ||
| $-20,535$ | ||
| $-1,961$ | ||
| $-2,133$ | ||
| 251 | ||
| 19,597 | ||
| Cash flow from operating activities Payments received from the sale of subsidiaries less cash and cash equivalents Cash flow from investing activities Cash flow from financing activities Outgoing payments für dividends Payments received form cash capital increse Outgoing payments for cash capital increse Borrowing of non-current financial loans Repayment of non-current financial loans Change in current financial debt Interest paid Interest received Cash flow from financing activities |
1,734 4,851 $-26$ $-2.635$ 2,869 $-10,710$ $-4,419$ 48,500 $-17,734$ $-5,497$ $-2,197$ 94 18,747 |
| 4 | Cash and cash equivalents | ||
|---|---|---|---|
| Increase/decrease in cash and cash equivalents | 4.177 | 415 | |
| Effect of changes in exchange rates | $-200$ | $-526$ | |
| Cash and cash equivalents at the start of the financial year | 26.154 | 20.023 | |
| Cash and cash equivalents at the end of the financial year | 30.131 | 22.912 | |
| 5 | Composition of cash and cash equivalents | ||
| $=$ | Cash and cash equivalents | 30.131 | 22.91 |
| Cash flows continued operations | ||
|---|---|---|
| Cash flow from operating activities | 4.444 | |
| Cash flow from investing activities | $-612$ | $-5.923$ |
| Cash flow from financing activities | 17.983 | 20.087 |
| Composition of cash and cash equivalents continued operations | ||
| Cash and cash equivalents | 19.784 | 20,332 |
| 9,894 |
| 8 | Cash flows discontinued operations | ||
|---|---|---|---|
| Cash flow from operating activities | $-13.753$ | -15.601 | |
| Cash flow from investing activities | $-10.098$ | $-2.102$ | |
| Cash flow from financing activities | 764 | $-2.382$ | |
| 9 | Composition of cash and cash equivalents discontinued operations | ||
| $=$ | Cash and cash equivalents | 10.347 | 2.580 |
| Additional information: | ||
|---|---|---|
| Acquisition of subsidiaries: | ||
| Goodwill | 5,954 | $\Omega$ |
| Intagible Assets | 8,797 | $\Omega$ |
| Property, plant and equipment | 3,510 | $\Omega$ |
| Deffred tax assets | 443 | $\Omega$ |
| Other non current assets | 48 | $\Omega$ |
| Inventories | 3,582 | $\Omega$ |
| Trade receivables | 5,177 | $\Omega$ |
| Prepayments and accured income and other current assets | 446 | $\mathbf 0$ |
| Cash and cash equivalents | 512 | $\Omega$ |
| Provisions non-current | $-1,243$ | $\Omega$ |
| Deffered tax liabilities | $-2,468$ | $\Omega$ |
| Trade payables | $-5,304$ | $\Omega$ |
| current loans | $-830$ | $\Omega$ |
| Other current financial liabilities | $-6,698$ | $\Omega$ |
| Provisions and liabilities from taxes | $-4$ | $\Omega$ |
| Other provisions | $-13$ | $\mathbf{0}$ |
| Other current liabilities | $-255$ | $\Omega$ |
| Purchase price payment | 11,654 | $\Omega$ |
| Cash and cash equivalents acquired | $-512$ | $\cap$ |
| Purchase price paid less cash and cash equivalents acquired | 11,142 | $\Omega$ |
| Additional information: | ||
|---|---|---|
| Sale of subsidiaries: | ||
| Intagible Assets | $-1,122$ | $\mathbf{0}$ |
| Property, plant and equipment | $-72$ | $\Omega$ |
| Other non current assets | $-17$ | $\Omega$ |
| Inventories | $-1,796$ | $\Omega$ |
| Trade receivables | $-6,059$ | $\cap$ |
| Prepayments and accured income and other current assets | $-74$ | $\Omega$ |
| Cash and cash equivalents | $-631$ | $\cap$ |
| Deffered tax | $-6$ | n |
| Trade payables | 1,651 | $\cap$ |
| Other current financial liabilities | 7,526 | $\cap$ |
| Other provisions | 117 | $\cap$ |
| Other current liabilities | 650 | $\cap$ |
| Cash and cash equivalents acquired | 631 | $\Omega$ |
| Income from the sale of subsidiaries | 3,333 | $\cap$ |
| Purchase price received less cash and cash equivalents | 3,500 | $\Omega$ |
SEGMENT REPORTING
| Segment | Industrial Automation | Environmental Technology | Discontinued Operations | |||
|---|---|---|---|---|---|---|
| Reporting Period | Q1-Q3 2018 | Q1-Q3 2017 | Q1-Q3 2018 | Q1-Q3 2017 | Q1-Q3 2018 | Q1-Q3 2017 |
| TEUR | TEUR | TEUR | TEUR | TEUR | TEUR | |
| Order intake | 160,727 | 100,748 | 88,910 | 71,363 | 68,417 | 111,980 |
| Order book position | 138,528 | 72,258 | 38,632 | 31,335 | 104,168 | 102,100 |
| Segment revenue | 119,550 | 118,586 | 79,276 | 68,674 | 98,766 | 85,073 |
| With external customers | 118,509 | 117,527 | 79,274 | 68,674 | 98,612 | 84,799 |
| of which Germany | 58,995 | 50,330 | 15,396 | 14,547 | 33,618 | 21,408 |
| of which other EU countries | 31,276 | 25,202 | 23,440 | 21,239 | 18,779 | 21,689 |
| of which North America | 8,066 | 27,953 | 29,181 | 27,715 | 4,240 | 12,459 |
| - of which China | 4,197 | 6,115 | $\overline{0}$ | $\overline{0}$ | 29,811 | 17,099 |
| of which Rest of the world | 15,975 | 7,928 | 11,257 | 5,172 | 12,164 | 12,144 |
| - Inter-segment revenue | 1,041 | 1,059 | $\overline{2}$ | $\overline{0}$ | 154 | 273 |
| EBITDA | 13,121 | 16,013 | 7,047 | 5,703 | $-15,247$ | 2,690 |
| Segment operating profit | ||||||
| (EBIT before PPA amortization) | 10,535 | 13,574 | 5,854 | 4,501 | $-23,160$ | 1,532 |
| Including: | ||||||
| - depreciation/amortization | $-2,585$ | $-2,439$ | $-1.193$ | $-1,202$ | $-7,914$ | $-1,158$ |
| Additions to other provisions and pension provisions | $-1,399$ | $-1,341$ | $-1,711$ | $-972$ | $-160$ | $-218$ |
| Income from equity accounted investments | $\overline{0}$ | $\overline{0}$ | $\Omega$ | $\overline{0}$ | $\Omega$ | $\Omega$ |
| Segment operating profit after PPA amortization | 9,787 | 12,933 | 5,854 | 4,477 | $-24,904$ | 900 |
| Including: | ||||||
| - PPA amortization | $-748$ | $-641$ | $\Omega$ | $-24$ | $-1.744$ | $-632$ |
| Segment result from ordinary activities (EBT) | 8,322 | 12,070 | 5,688 | 4,115 | $-26,480$ | $-568$ |
| Including: | ||||||
| - Interest and similar income | 87 | 23 | 54 | 20 | $\mathbf{1}$ | $\overline{2}$ |
| - Interest and similar expenses | $-659$ | $-892$ | $-220$ | $-382$ | $-1,577$ | $-2,354$ |
| Income taxes | 3,511 | $-655$ | $-1,999$ | $-1,519$ | 234 | 356 |
| Result from discontinued operations | $\bf{0}$ | $\bf{0}$ | $\bf{0}$ | $\bf{0}$ | $-26, 246$ | $-212$ |
| Earnings from continuing operations | 11,833 | 11,415 | 3,689 | 2,596 | $\Omega$ | $\mathbf{0}$ |
| Net income | 11,833 | 11,415 | 3,689 | 2,596 | $-26, 246$ | $-212$ |
| Non-current segment assets (excluding deferred tax) | 32,151 | 31,871 | 12,114 | 12,940 | 33,531 | 22,021 |
| of which Germany | 28,295 | 31,490 | 9,637 | 10,416 | 20,577 | 21,978 |
| of which other EU countries | 3,499 | $\mathbf{1}$ | 40 | 18 | 33 | 43 |
| - of which North America | 231 | 241 | 2,437 | 2,505 | $\overline{0}$ | $\mathbf 0$ |
| - of which Rest of the world | 126 | 138 | $\Omega$ | $\overline{0}$ | 7.698 | $\overline{0}$ |
| Investments in non-current segment assets | 5.502 | 2,369 | 591 | 689 | 15,924 | 2,230 |
| Working Capital | 27,644 | 42,585 | 16,600 | 22,125 | 60,007 | 71,742 |
| Average number of personell excluding trainees | 838 | 788 | 372 | 376 | 519 | 401 |
| Segment | Reconciliation | |||
|---|---|---|---|---|
| Reporting Period | Q1-Q3 2018 | Q1-Q3 2017 | Q1-Q3 2018 | Q1-Q3 2017 |
| TEUR | TEUR | TEUR | TEUR | |
| Order intake | $-68,417$ | $-111,980$ | 249,638 | 172,112 |
| Order book position | $-104, 168$ | $-102,100$ | 177,161 | 103,593 |
| Segment revenue | $-99,620$ | $-85,984$ | 197,972 | 186,348 |
| With external customers | $-98,423$ | $-84,652$ | 197,972 | 186,348 |
| - of which Germany | $-33,429$ | $-21,261$ | 74,580 | 65,024 |
| of which other EU countries | $-18,779$ | $-21,689$ | 54,716 | 46,441 |
| of which North America | $-4,240$ | $-12,459$ | 37,247 | 55,668 |
| - of which China | $-29,811$ | $-17,099$ | 4,197 | 6,115 |
| of which Rest of the world | $-12,164$ | $-12,144$ | 27,232 | 13,101 |
| - Inter-segment revenue | $-1,197$ | $-1,332$ | $\overline{0}$ | $\mathbf{0}$ |
| EBITDA | 11,024 | $-7,134$ | 15,945 | 17,272 |
| Segment operating profit (EBIT before PPA amortization) |
18,795 | $-6,070$ | 12,024 | 13,537 |
| Including: | ||||
| - depreciation/amortization | 7,772 | 1,064 | $-3,920$ | $-3,735$ |
| Additions to other provisions and pension provisions | $-274$ | $-144$ | $-3,544$ | $-2,675$ |
| - Income from equity accounted investments | $-593$ | $-241$ | $-593$ | $-241$ |
| Segment operating profit after PPA amortization | 20,488 | $-5,659$ | 11,225 | 12,651 |
| Including: | ||||
| - PPA amortization | 1,693 | 411 | $-799$ | $-886$ |
| Segment result from ordinary activities (EBT) | 21,798 | $-4,746$ | 9,328 | 10,870 |
| Including: | ||||
| - Interest and similar income | $-100$ | 322 | 42 | 367 |
| - Interest and similar expenses | 517 | 1,480 | $-1,939$ | $-2,148$ |
| Income taxes | 69 | $-2,326$ | 1,814 | $-4, 144$ |
| Result from discontinued operations | 3,201 | 2,104 | $-23,045$ | 1,892 |
| Earnings from continuing operations | $-4,379$ | $-7,284$ | 11,143 | 6,727 |
| Net income | $-1,178$ | $-5,181$ | $-11,902$ | 8,619 |
| Non-current segment assets (excluding deferred tax) | 4,777 | 39,071 | 82,573 | 105,902 |
| - of which Germany | 17,731 | 39,071 | 76,240 | 102,956 |
| - of which other EU countries | $-33$ | $\overline{0}$ | 3,540 | 62 |
| of which North America | $\overline{0}$ | $\mathbf 0$ | 2,667 | 2,746 |
| - of which Rest of the world | $-7,698$ | $\overline{0}$ | 126 | 138 |
| Investments in non-current segment assets | $-15,867$ | 64 | 6,151 | 5,352 |
| Working Capital | $-55,916$ | 4 | 48,335 | 136,456 |
| Average number of personell excluding trainees | $\bf{0}$ | 8 | 1,729 | 1,573 |
IMPRINT
Publisher
MAX Automation SE Breite Straße 29-31 40213 Düsseldorf Germany
Tel.: +49 211 90 99 1 - 0 +49 211 90 99 1 -11 Fax: E-Mail: [email protected] www.maxautomation.com
Investor Relations
Frank Elsner Kommunikation für Unternehmen GmbH Kirchstr. 15a 49492 Westerkappeln Germany
+49 54 04 91 92 - 0 Tel.: E-Mail: [email protected]
This report on the third quarter is also available in English. In case of differences, the German version shall take precedence. A digital version of the Annual Report of MAX Automation and the interim reports are available online at www.maxautomation.com under the heading "Investor Relations / Financial Reports."
DISCLAIMER
This quarterly report contains forward-looking statements on the business, earnings, financial and asset situation of MAX Automation SE and its subsidiaries. These statements are based on the Company's current plans, estimates, projections and expectation and are therefore subject to risks and uncertainties that may cause the actual development to differ quite considerably from the expected development. These forward-looking statements only apply at the time of publication of this quarterly news release. MAX Automation SE does not intend to update the forward-looking statements and assumes no obligation to.