Report
Klaus Breitenbach

MBB SE : FY 2023 better than expected. FY 2024 outlook in line

>2023 numbers above estimates - MBB reported 2023 revenue and an adjusted EBITDA margin which beat our and the consensus estimates. Revenue of € 954.6m (+6.5% vs 2022, ODDO BHFe € 905.4m; cons: € 897.9m) was even above guidance (€ 850m - € 900m) and mainly driven by higher revenues in the Technological Applications segment. The adjusted EBITDA margin of 8.4% (-190bp y-o-y) was in line with guidance (at the lower end of the 8-10% range), but slightly better than assume...
Underlying
MBB Industries SE

MBB SE, formerly MBB Industries AG, is a German-based private equity firm specializing in acquisitions of established medium-sized industrial companies. The Company makes investments in entities seeking to sell off a part of their business or the entire operation, perhaps as part of a succession process; selling a subdivision or an affiliated entity that no longer forms part of the organization's core business, and seeking for a management buyout or buy-in. It targets investments in firms with turnovers of 10 million euros and above. Its portfolio consists of Aumann AG, specializing in e-mobility, coil winding and automation, CT Formpolster GmbH, a producer of flexible polyurethane foams, Delignit AG, a supplier of ecological hardwood-based materials, DTS IT AG, a cloud computing and cyber security provider, Hanke Tissue Spolka Z O.O., a producer of tissue paper, and OBO-Werke GmbH, a supplier of products for model construction, toolmaking and mould production, among others.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Klaus Breitenbach

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