Aumann (AAG) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 rose 16.8% year-over-year to €233.1 million, with EBITDA up 86.4% to €25.2 million and a margin of 10.8%, driven by strong E-mobility segment performance.

• E-mobility segment revenue increased 25.7% to €191.1 million, with EBITDA more than doubling, but order intake declined 32.5%-33% due to weak demand and regulatory uncertainty.

• Order intake fell 36.6%-37% to €157.9 million, and order backlog decreased 27.6%-28% to €223.6 million, reflecting postponed investments and market uncertainties.

• Liquidity position remains strong at €133.5 million, with net cash at €126 million and an equity ratio of 57.2%.

• The Classic segment was renamed Next Automation, shifting focus to automation solutions in clean tech, aerospace, and life sciences.

Financial highlights

• Revenue increased from €199.6 million to €233.1 million (+16.8% YOY); E-mobility revenue up 25.7% to €191.1 million.

• EBITDA rose from €13.5 million to €25.2 million (+86.4% YOY), margin improved to 10.8%.

• EBIT margin reached 9.8%, and earnings before taxes were €22.8 million; net profit up 121.6% to €15.6 million.

• Net cash position at €126 million; equity ratio at 57.2%.

• Adjusted EBITDA was €25.7 million (+82.6%), and adjusted EBIT was €21.1 million (+107.2%).

Outlook and guidance

• Full-year 2024 revenue is forecasted at around €320 million, with EBITDA margin expected at the upper end of 9–11%.

• Management anticipates a revenue decline in 2025 due to lower order intake, but targets continued profitability with double-digit margins in the backlog.

• Q4 order intake is expected to improve over Q3, and the first half of 2025 will be crucial for sales.