MBB INDUSTRIES AG (FRA:MBB) MBB SE adjusts annual forecast excluding effects from its latest acquisition

Directive transparence : information réglementée

12/07/2019 20:34

DGAP-Ad-hoc: MBB SE / Key word(s): Change in Forecast/Profit Warning
MBB SE adjusts annual forecast excluding effects from its latest acquisition

12-Jul-2019 / 20:34 CET/CEST
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Disclosure of inside information acc. to Article 17 MAR

MBB SE adjusts annual forecast excluding effects from its latest acquisition

Berlin, 12 July 2019 - MBB SE (ISIN DE000A0ETBQ4) adjusts its forecast for 2019 due to the forecast adjustment by Aumann AG announced on 10 July 2019. Excluding the acquisition of Friedrich Vorwerk KG (GmbH & Co.), which is currently pending to be closed, revenues are now estimated at more than EUR500 million. Excluding the latest acquisition, the EBITDA forecast now amounts to EUR50 million and may be reduced to EUR44 million depending on the further market situation at Aumann.

The acquisition of 60% of the shares in Friedrich Vorwerk KG (GmbH & Co.) on 20 June 2019 is still subject to approval by German antitrust authorities for formal reasons. As the date of initial consolidation has therefore not yet been determined and MBB is currently in the process of estimating the effects of Vorwerk's transition to IFRS, the acquisition has not yet been included in the annual forecast. However, MBB expects a positive correction of the current forecast as soon as the acquisition is closed and the initial consolidation effects can be estimated. Together with Vorwerk, MBB would have already generated a consolidated revenue of more than EUR600 million at an EBITDA margin of more than 10% in the previous financial year.

Joachimsthaler Straße 34
10719 Berlin
Tel +49 30 844 15 330
Fax +49 30 844 15 333

Executive Management
Dr Christof Nesemeier (CEO)
Dr Constantin Mang
Klaus Seidel

Chairman of the Board
Gert-Maria Freimuth

Court of Registration
Berlin-Charlottenburg Local Court, registration number: HRB 165458

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Language: English
Company: MBB SE
Joachimsthaler Strasse 34
10719 Berlin
Phone: +49 (0) 30 844 15 330
Fax: +49 (0) 30 844 15 333
E-mail: anfrage@mbb.com
Internet: www.mbb.com
Indices: PXAP
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 840875

End of Announcement DGAP News Service

840875  12-Jul-2019 CET/CEST