Mbb Se · XETR:MBB
Mbb — Shareholder Meeting (June 2022)
32 slides from Mbb's shareholder meeting presentation, Jun 30, 2022
Slide 1: Annual General Meeting 2022
Annual General Meeting 2022 MBB SE Berlin, June 30, 2022
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: Outstanding M&A track record in the German Mittelstand
Outstanding M&A track record in the German Mittelstand Long-term perspective Equity-based financing Entrepreneurial culture Acquisition of long-term attractive growth companies 3
Slide 4: Sustainable value growth of the subsidiaries
Sustainable value growth of the subsidiaries Focus on growth trends Internationalization, digitalization, personnel recruitment Operational excellence Sustainable organic growth through strategic focus 4
Slide 5: Accelerated growth through strategic add-on acquisitions
Accelerated growth through strategic add-on acquisitions Deal sourcing M&A process Post-merger integration Strategic add-on acquisitions to further accelerate the growth path 5
Slide 6: 15+ years of successful capital markets experience
15+ years of successful capital markets experience Own capital access for subsidiaries Increased visibility and transparency MBB remains largest shareholder Capital markets expertise for the realization of additional growth potential 6
Slide 7: Superior growth in revenue and EBITDA for over years
Superior growth in revenue and EBITDA for over 10 years 680 Revenue 2021 million € 70 Equity ratio 2021 % 13 % Ø Revenue growth 2012-2022 12 EBITDA margin 2021 % 7
Slide 8: Agenda
Agenda 1 Highlights from the MBB companies 2 M&A 3 Financials and Outlook 8
Slide 9: Friedrich Vorwerk was the third MBB subsidiary to go public
Friedrich Vorwerk was the third MBB subsidiary to go public on 25 March 2021 2006 2007 2017 2021 Share price performance MBB SE 9
Slide 10: Friedrich Vorwerk faces substantial growth prospects in the wake of the energy transition
Friedrich Vorwerk faces substantial growth prospects in the wake of the energy transition Key Highlights 2021 Driving the clean energy transition Safe energy infrastructure for a successful €285 million Order intake energy transition Share of MBB revenue 2021 16 % EBIT margin 41% €84 million Net liq
Slide 11: Aumann continues to grow in the field of e-mobility
Aumann continues to grow in the field of e-mobility Key Highlights 2021 Powering e-mobility and automotive Sophisticated automation solutions for the €237 million Order intake entire spectrum of electro mobility Share of MBB revenue 2021 71 % Share of e-mobility in order intake 24% €90 million Net l
Slide 12: The growth course of DTS is further accelerated
The growth course of DTS is further accelerated in the wake of the Russia-Ukraine war Key Highlights 2021 Specialist for IT security Full turnkey IT security and software provider for the German and European Mittelstand €80 million Revenue Share of MBB revenue 2021 14 % EBITDA margin 12% Current dev
Slide 13: In a challenging year, Delignit was able to continue its growth course
In a challenging year, Delignit was able to continue its growth course Key Highlights 2021 Ecological system solutions Cargo space protection and safety systems for LCVs made from renewable raw materials € 68 million Revenue Share of MBB revenue 2021 8% EBITDA margin 10% Current developments Outlook
Slide 14: All MBB companies are back on growth track in 2022
All MBB companies are back on growth track in 2022 Tissue products Mattresses for Specialty Chemicals E-commerce for Tooling Investment in paper machine Energy and material price Energy and material price leads to capacity expansion controls successfully passed controls successfully passed on to cus
Slide 15: Agenda
Agenda 1 Highlights from the MBB companies 2 M&A 3 Financials and Outlook 15
Slide 16: Volatile market environment improves MBB's positioning in the M&A market
Volatile market environment improves MBB's positioning in the M&A market Current framework conditions Positioning MBB Economic uncertainty Succession pressure in German small and medium-sized enterprises Commodity prices and supply chains structurally increasing in times Rising financing costs of de
Slide 17: Stock market multiples in the German Small Cap have declined recently
Stock market multiples in the German "Small Cap" have declined recently EV/EBITDA NTM Forecast - iShares MSCI Germany Small-Cap ETF 16,0x 15,3x 15,0x EBITDA Forecast increases after launch of COVID 14,0x vaccination campaign 13,0x 12,4x 12,0x Current approx. 2X 11,0x under 3-year median 10,4x 10,0x
Slide 18: As a buyer, MBB has unique selling propositions and an excellent reputation
As a buyer, MBB has unique selling propositions and an excellent reputation Approach in M&A processes Lean acquisition process Review by MBB team at minimal use of 25 years of M&A experience external consultants Long-term perspective Subsidiaries partly part of the Group MBB acquires company without
Slide 19: Agenda
Agenda 1 Highlights from the MBB companies 2 M&A 3 Financials and Outlook 19
Slide 20: With stable revenue, EBITDA slightly lower in 2021
With stable revenue, EBITDA slightly lower in 2021 Revenue adj.* EBITDA adj. ** in € m in € m 12.5 % 11.7 % -1% 689 680 -7% 85,7 79,6 2020 2021 2020 2021 * In 2021, sales were not adjusted. The sales adjustments of the previous year (€ -0.6 million) relate to sales from discontinued offshore project
Slide 21: All three segments were able to maintain their sales
All three segments were able to maintain their sales in a challenging environment Revenue and EBITDA adj. in € m Service & Technological Consumer Infrastructure Applications Goods -2 % 367 359 +1 % 248 250 -3 % 70 68 74 72 7 4 10 6 2020 2021 2020 2021 2020 2021 21
Slide 22: Consolidated balance sheet shows an equity ratio of 70% and cash of €623 million
The consolidated balance sheet shows an equity ratio of 70 % and cash of € 623 million. Balance sheet as at 31 December 2021 in € m 1,152 1,152 281 Fixed assets** (24%) 248 808 Current assets** Equity (22%) (70%) 623 Cash* 88 thereof €401m 535 m € (8%) Financial liabilities net cash in MBB SE net ca
Slide 23: A dividend of €1.98 per share is to be proposed
A dividend of €1.98 per share is to be proposed to the Annual General Meeting Dividend payments in € cents per share 198 176 154 m € 99 132 Dividends and buybacks 122 88 since 2006 66 61 17 m € 50 99 88 25 69 70 59 61 66 50 55 57 44 25 25 25 33 Planned dividend and completed IPO 10 share buybacks 20
Slide 24: MBB's broad positioning pays off in the volatile market environment of 2022
MBB's broad positioning pays off in the volatile market environment of 2022 Economic risk factors Influence on MBB subsidiaries Low Tense supply Economic chains fluctuations Russia-Ukraine Volatile energy war prices Availability of Rising inflation raw materials Higher 24
Slide 25: Revenues increased by 15%, but the EBITDA margin fell to 9%
In total, revenues increased by 15 %, but the EBITDA margin fell to 9 % Sales Adj. EBITDA +15 % 13 % 9% 172 + 49 % 150 20 15 Q1/21 Q1/22 Q1/21 Q1/22 in € m in € m 25
Slide 26: Conservative revenue growth at >10% EBITDA margin expected for 2022
Conservative revenue growth at >10 % EBITDA margin expected for the full year 2022 Sales Adj. EBITDA +9 % 740 680 > 10 % 80 Margin 2021 2022 2021 2022 Forecast Forecast in € m in € m 26
Slide 27: 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 € million* 375 306 Market capitalization Holding Fair Cash Value * Market capitalization of listed companies as per June 29, 2022; Holding Cash as per March 31, 2022 27
Slide 28: Contact
CONTACT MBB SE Joachimsthaler Street 34 D-10719 Berlin Tel: +49 30 84415 330 Fax: +49 30 84415 333 Mail: anfrage@mbb.com Web: www.mbb.com 28
Slide 29: Disclaimer of Liability
DISCLAIMER OF LIABILITY By accessing this document, you acknowledge the restrictions on use set out herein. The information contained in this document relating to MBB SE ("MBB" or the "Company") may not be redistributed, reproduced, published or transmitted to any other person in whole or in part. A
Slide 30: MBB.COM
MBB.COM
Slide 31: IFRS EBITDA 2021 was adjusted for one-off or non-operating effects
IFRS EBITDA 2021 was adjusted for one-off or non-operating effects EBITDA EBITDA adjustments in € m in € m 79,6 Adjustment (in € million) Volume 23,7 Dissolution of Restructuring Rst AAG (AAG) -4,7 55,9 Cost of materials for strategic projects (AAG) +5,1 Income from initial consolidation (VOR) -0,2
Slide 32: MBB benefits from focus on long-term sustainability trends
MBB benefits from focus on long-term sustainability trends Energy infrastructure E-Mobility Renewable raw IT Security materials 32