Aumann (AAG) H1 2024 earnings summary

Executive summary

• Revenue rose 18.9% year-over-year to €141.4 million in H1 2024, driven by strong E-mobility segment growth.

• EBITDA nearly doubled to €15.0 million, with margin improving from 6.5% to 10.6%.

• Order intake declined 24.9% year-over-year to €130.0 million, reflecting weaker EV demand and cautious OEM investments.

• Order backlog remains strong at €288.4 million, ensuring full capacity utilization.

• Net profit increased 143.6% to €9.2 million, with EPS at €0.62.

Financial highlights

• Adjusted EBITDA rose 88.4% to €15.3 million; adjusted EBIT up 116.5% to €12.2 million.

• Equity ratio stands at 57.5%, up from 53.7% at year-end 2023.

• Net cash position at €109 million, with liquidity at €117.0 million as of June 30, 2024.

• Dividend of €0.20 per share paid in June 2024.

• Share buyback program completed in May 2024, reaching €8.0 million.

Outlook and guidance

• 2024 revenue is expected to exceed €320 million, with EBITDA margin guidance between 9% and 11%.

• No guidance provided yet for 2025, but management does not foresee a decrease in business activity.

• Management expects market dynamics to improve after macro events such as elections and potential interest rate changes.