MBB (MBB) investor relations material

Executive summary

• Nine-month revenue was €854.1m, down 1.0% YoY; adjusted EBITDA rose 40.0% to €201.1m, lifting margin to 23.5% from 16.7%.

• Strong Q3 trading prompted a second increase in FY2026 adjusted EBITDA margin guidance to 22%–24%; revenue guidance remains €1.1bn–€1.2bn.

• Five portfolio businesses generated nearly €1.2bn in revenue with double-digit EBITDA margins; founders remain major shareholders and operationally involved.

Financial highlights

• Q3 revenue was €318.1m versus €316.8m; adjusted EBITDA rose 25% to €84m, with margin at 26.3% versus 21.2%.

• Nine-month adjusted EBIT increased 48.1% to €158.0m and adjusted EBT rose 46.3% to €150.5m; adjusted net profit after non-controlling interests was €38.7m, up 13.6%.

• IFRS nine-month EBITDA was €196.2m versus €143.4m; attributable net income was €33.7m versus €33.8m. Q3 IFRS EBITDA was €79.1m versus €67.3m.

• Adjusted EPS rose to €7.39 from €6.37; IFRS nine-month EPS was €6.43 versus €6.32.

• Cost of materials fell 13.2% to €376.6m; adjusted personnel expenses rose 8.5% to €256.5m, partly reflecting higher Vorwerk staffing and labor costs.

Outlook and guidance

• FY2026 revenue guidance remains €1.1bn–€1.2bn; adjusted EBITDA margin guidance rose to 22%–24% from 18%–20%.

• Friedrich Vorwerk raised FY revenue guidance to €760m–€790m from €730m–€780m and EBITDA guidance to €220m–€230m from €180m–€200m.

• Aumann expects FY revenue of €140m–€160m and EBITDA margin of 8%–10%, versus prior guidance of ~€160m revenue and 6%–8% margin.

• Delignit retained FY revenue guidance of €68m and EBITDA margin guidance of 7%–8%; Q4 was expected to benefit from continued positive momentum.