MBB (MBB) Q1 2026 earnings summary

Executive summary

• Adjusted EBITDA rose 40.2% year-over-year to €41.9 million in Q1 2026, with margin up to 17.7% from 11.5%, despite revenue declining 8.7% to €237.5 million.

• Group equity surpassed €1 billion for the first time, marking a significant milestone and a 2,759% increase since 2006.

• Maintains a long-term, sustainable approach, focusing on developing and growing acquired companies rather than selling.

Financial highlights

• Adjusted EBITDA margin improved to 17.7% from 11.5% year-over-year; adjusted EBIT increased 51.2% to €27.5 million.

• Net cash position reached €766.2 million, with liquidity and securities totaling €825.1 million at quarter-end.

• Proposed a base dividend increase to €1.21 per share, marking the 16th consecutive annual increase, and ongoing share buyback program with €21 million repurchased in 2026.

Outlook and guidance

• Management expects full-year 2026 revenue between €1.1 and €1.2 billion and adjusted EBITDA margin of 15–18%.

• Friedrich Vorwerk targets €730–780 million revenue and €160–180 million EBITDA (21%–25% margin) for 2026.

• Aumann expects €160 million revenue with 6–8% EBITDA margin; Delignit targets €66 million revenue and 7–8% EBITDA margin.

• Mixed outlook for Hanke and CT Formpolster due to raw material price volatility and subdued consumer demand.