Slide 1: First Quarter 2024
First Quarter 2024 MBB SE 15 May 2024
Slide 2: MBB offers long-term succession solutions to sustainable Mittelstand companies
MBB offers long-term succession solutions to sustainable Mittelstand companies Family business Capital Markets Founded in 1995 and family-owned Extraordinary growth and value enhancement for the long term potential on the capital market Long-term focus Sustainability Long-term investment horizon wit
Slide 3: A quarter full of profitability growth
A quarter full of profitability growth +64 % 23 +89 % +21 % 14 7 7 6 4 Q1/23 Q1/24 Q1/23 Q1/24 Q1/23 Q1/24 Adj. EBITDA Adj. EBITDA Adj. EBITDA in €m in €m in €m 3
Slide 4: All segments increased their EBITDA significantly
All segments increased their EBITDA significantly Adj. EBITDA in €m Service & Technological Consumer Infrastructure Applications Goods 19% +33% +1,194% 10.4 8.8 8.1 6.1 3.1 0.2 Q1/23 Q1/24 Q1/23 Q1/24 Q1/23 Q1/24 4
Slide 5: Energy transition and IT security are the driving force behind the S&I Segment
Energy transition and IT security are the driving force behind the S&I Segment Energy infrastructure for the energy transition IT security for the German Mittelstand EBITDA margin recovery in seasonally weak Demand for IT security rises in light of new Q1 as legacy projects are gradually being regul
Slide 6: Growing investment in automation and strong demand for renewable products drive TA Segment
Growing investment in automation and strong demand for renewable products drive TA Segment Automation solutions for E-mobility System solutions from ecological raw materials EBITDA margin surpassed 10 % for the first Lower demand of automotive customers leads to time since Covid and underlines stron
Slide 7: Profitability increases despite lower revenues in CG Segment
Profitability increases despite lower revenues in CG Segment Tissue products Mattresses for e-commerce EBITDA margin uplift in Q1 in light of less price Weak consumer demand for furniture and volatility and ending energy price commitments mattresses leads to revenue decline in first quarter Revenues
Slide 8: In total, revenues are slightly above previous year with significantly higher EBITDA margin
In total, revenues are slightly above previous year with significantly higher EBITDA margin Revenue Adj. EBITDA +2 % 7 % 11 % 201 205 + 49 % +64 % 23 14 Q1/23 Q1/24 Q1/23 Q1/24 in €m in €m 8
Slide 9: For the full year 2024, MBB expects €1 billion in revenues with 10% EBITDA margin
For the full year 2024, MBB expects €1 billion in revenues with 10% EBITDA margin Revenue Adj. EBITDA 8.4 % 10 % 1.000 + 49 % 955 100 80 2023 Forecast 2023 Forecast 2024 2024 in €m in €m 9
Slide 10: MBB invested more than €100 million in shares of MBB companies since the beginning of 2023
MBB invested more than €100 million in shares of MBB companies since the beginning of 2023 Investments in shares of MBB companies since 2023 45 thereof €38 million through public buyback offer 2024 million € > 100 million € 37 million € 23 thereof €15 million through Aumann‘s share buyback million €
Slide 11: Management proposes a dividend increase to €1.01 per share
Management proposes a dividend increase to €1.01 per share Dividend payments per share in € cents 198 176 €5.4m 99 132 Dividend proposal 2024 122 88 €1.01 per share 66 61 €37.8m 50 99 100 101 88 25 69 70 59 61 66 50 55 57 33 44 Share buyback 2024 YTD 25 25 25 IPO 10 2006 2008 2010 2012 2014 2016 201
Slide 12: After raising dividends for consecutive years, MBB is one of a few German dividend aristocrats
After raising dividends for 14 consecutive years, MBB is one of a few German dividend aristocrats Only 2 companies in Germany have APRIL 2024 increased their dividends for longer than MBB DIVIDEND STUDY 2024 by Company Index Time Div. CAGR Fuchs Vs. MDAX 22 yrs. 13.2% p.a. Cewe SDAX 15 yrs. 6.6% p.a
Slide 13: MBB's balance sheet remains very strong – even after substantial buybacks
MBB's balance sheet remains very strong – even after substantial buybacks Balance sheet as at 31 March 2024 in €m 1,100 1,100 Fixed assets** 315 729 Current assets** (66%) Equity 317 467 Cash* 69 Financial liabilities thereof €277m net cash €398m in MBB SE Net Cash 302 Other liabilities Assets Equit
Slide 14: M&A valuations are becoming more attractive and MBB's relative position is stronger than ever
M&A valuations are becoming more attractive and MBB’s relative position is stronger than ever Private market valuations Improvement of MBB‘s position Enterprise Value-to-EBITDA valuations, indexed to 2014 High interest rates make it more difficult for investors that rely y-o-y on financial leverage
Slide 15: A large part of the value of MBB is transparent
A large part of the value of MBB is transparent Sum-of-the-parts in €m* 277 310 Market capitalization Holding Fair Cash Value * Market capitalization of listed companies as per 14 May 2024; holding cash and stakes in listed companies as per 31 March 2024 15
Slide 16: Questions & Answers
Questions & Answers Constantin Mang CEO 16
Slide 17: Contact
Contact MBB SE Joachimsthaler Straße 34 D-10719 Berlin Tel: +49 30 84415 330 Fax: +49 30 84415 333 Mail: office@mbb.com Web: www.mbb.com 17
Slide 18: DISCLAIMER
DISCLAIMER By accessing this document you agree to abide by the limitations set out hereafter. The information contained in this document relating to MBB SE ("MBB" or the "Company") may not be redistributed. reproduced. published. or passed on to any other person and must not be relied upon for any
Slide 19: MBB.COM
MBB.COM