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Annual General Meeting
MBB SE
Berlin, 30 June 2016
Overview
2015
2016
Share & Outlook
2
Mission: MBB is a listed family business that generates exceptional sales and value growth with
technological expertise
3
Growth
Family
business
Capital
market
Mittelstand Technological expertise
4
MBB expects €300 million in revenues in 2016 with 1,500 employees
300
Revenues in millions of €
approx. 1,500 employees
Aumann Coil winding technology (MBB company since 2015)
MBB Fertigungstechnik Special machinery manufacturer (MBB company since 2012)
CT Formpolster Soft foams (MBB company since 2010)
DTS IT-Services (MBB company since 2008)
Hanke Tissue Tissue products (MBB company since 2006)
Delignit Wood based products (MBB company since 2003)
OBO Tooling products (MBB company since 2003)
Acquisitions of new
companies
Acquisitions of new
subsidiaries for our
companies
Investments in our
companies
5
MBB growth paths
1 ORGANIC 2 BUY AND BUILD 3 NEW
in millions of €
20% average growth rate since IPO
37
2005
+ 711% CAGR + 21%
300
2016
Revenues
6
1,7
2005
+ 676% CAGR + 20%
13,2
2016
Earnings
in millions of €
Overview
2015
2016
Share & Outlook
7
* Source: Annual Report for companies within the manufacturing sector, April 2015
Organic: CT Formpolster grows by increasing added value
8
Foam-
production
Mattresses-
manufacturing
Drop
Shipping Design
From foaming unit to a One-Stop-Shop for mattresses
End customer orders
at online-trader
Online-trader
forwards order
Delivery to end
customer
Drop-Shipping allows online-traders to focus on the frontend Estimation of online-trading share of mattresses market
Stationary
trading Online-trading 8 %
Mattresses market in Germany: approx. €1 Bio.*
Q4.2015
350%
Q3.2015
230%
Q2.2015 Q1.2015
150%
100%
Growth in drop-Shipping volume at CT Formpolster
EP boards PU boards
PU/EP liquids
PU/EP seamless
modelling paste
OBO-Festholz®
(hard wood)
PU boards
OBO acquired tooling business from Huntsman in 2014
Revenue split 2009
Revenue split 2016e
9
Master-
distributor
for liquids by
Huntsman
Production
of pastes and
EP boards
€7 million
revenues
€20 million
revenues
Acquisition of Aumann – growth in the fields of coil winding technology and E-Mobility
10
Coil winding technology
Founded in 1936 by Willy Aumann
MBB holds 75% since 19 November 2015
Today 170 employees in Espelkamp (East Wesphalia),
Berlin and the US
Leading special machinery manufacturer for coil
winding and automation in efficient electric motors
Strong position in the E-Mobility growth market
Applications
Revenues in millions of €
403433
3027
+ 13% p.a.
2015e 2017 2016e 2014 2012 2013
11
Aumann benefits from strong market growth
Recreation
Appliances
Automotive
Industrial
Medical
E-Mobility
Energy efficiency
Electrification
E-Health
Regulation
Aumann‘s
growth trends
Aumann‘s
markets
12
Stronger together: Aumann + MBB Fertigungstechnik
+
Locations
Revenues
Employees
Markets
Technologies
Germany, USA
Expectation 2016
~ €40 million
170
E-Mobility
Medical
General Industry
Coil winding
Wire enamelling
Automation
Germany, China
Expectation 2016
~ €100 million
340
Conventional drive
Aerospace
Household appliances
Connection technology
Assembly technology
Tooling
Global machine
manufacturer
> €140 million
> 500 employees
Diversification
Technological
complementarity
13
Aumann hits the M&A jackpot
Niche market player with established business model
High and long-term value growth potential
Experienced, highly motivated and participating managers
Majority stakes
Preferably in the German Mittelstand
14
Aumann acquisition was once again slim and fast
<3 months until notary
August 2015 September 2015 October 2015 November 2015
Letter MBB 17.8.
1. Meeting 26.8.
2. Meeting 15.9.
Indicative bid 24.9.
Handshake Deal 25.9.
Draft contract MBB 30.9.
Due Diligence 6 weeks
Contract negotiations
Notary appointment 19.11.
in millions of €
MBB group earnings 2015 below previous year
252.8
2014 2015
236.7
15
11.8
13.2
2014 2015
in millions of €
Revenues
Earnings
Without Aumann companies 16
…thus, iniiates considerable savings by an overhead cost project in 2015…
Other operating expenses
Fees and contributions
Machinery and equipment
Postage &phone
Advertising expenses
Legal and consulting expenses
Costs of monetary transactions.
Insurances
13.8%
-25.6%
-20.9%
-5.1%
-13.3%
-32.0%
+3.7%
-6.0%
16.0%
-16.6%
-13.7%
Rent and Lease
Travel and vehicle expenses
Other third-party services
2014
2015
in millions of €
…by which management forecast is being exceeded once more.
250.0
Forecast
2015
Actual
252.8
Revenues
17
1.79
Actual Forecast
2015
1.75
Earnings
in € per share
MBB creates the prerequisite for further growth by new employees
79
1,213
66
2015
1,422
2014
Employees
Trainees
Headcount
yoy + 17%
18
39% equity ratio and € 8 million Net Cash as of 31 December 2015
Stand: 31. Dezember 2015
* Liquidität & Wertpapiere & Gold
** Ohne Cashpositionen
84
(38%)
85
(38%)
88
(39%)
54
(24%)
Aktiva
223
89
(40%)
223
46
(21%)
Passiva
in millions of €
Non-current assets
Cash*
Equity
Financial liabilities
Other liabilities
Current assets**
19
Aumann acquisition leads to a slight decline in Cash and Net-Cash
Net-Cash 8.1
24.3
Cash 58.7
54.0
Equity 78.6
87.7
2014 2015
20
in millions of €
MBB SE Individual Financial Statement earnings above previous year
11.6
7.7 Earnings
Net result 3.5
2.9
4.8
6.3
Net Cash
2.8
11.0
Expenses
38.5 Equity
39.2
EK-Quote: 88,9 %
EK-Quote: 89,1 %
2014 2015
21
in millions of €
Increasing dividend in the 10th year
* Proposal to Annual General Meeting on 30 June 2016 in Berlin
2009
0.25 0.25
0.25
0.33
2011 2007 2006
0.55
2013
0.10
0.50
0.50
2012
0.44
2010 2008
0.25
0.59
2016e* 2015
0.57
2014
CAGR + 22%
in € per share
2x
22
Share buyback program
IPO
Overview
2015
2016
Share & Outlook
23
in millions of €
MBB starts into 2016 with record revenues
* Thereof 12% organically
+ 30%*
60.2
78.2
Q1
2015
Q1
2016
Revenues
24
+ 19%
3.7
Q1
2016
Q1
2015
3.1
Earnings
in millions of €
in millions of €
MBB has a more and more conservative forecast for 2016
* Reflects €2 earnings per share
78
Forecast
2016
Achieved: 26%
Q1
2016
300
Revenues
25
Q1
2016
Achieved: 28%
Forecast
2016*
3.7
13.2
Earnings
in millions of €
Strong Cash-Flow in Q1
Equity 87.6
Cash
91.9
54.0
Net-Cash
59.3
8.1
13.9
Q4 2015
Q1 2016
26
in millions of €
27
MBB Fertigungstechnik, Aumann and DTS with very strong growth in Q1
35343633
28
2220
+10% p.a.
12 09 15 10 14 16e 11 13
39
30
2423222318
+12% p.a.
16e 14 15 13 12 11 10 09
18
141212
11
9
7
+17% p.a.
16e 15 14 10 09 12 11 13
2321
2019181818
15
+4% p.a.
14 16e 13 11 12 10 09
4443
363431
2622
+12% p.a.
16e 15 14 13 12 09 10 11
96103107102
6667
15
+11% p.a.
16e 14 13 09 12 10 11
94
+
since 2015
Gear assembly
28
MBB Fertigungstechnik grows with new competences
cylinder deactivation
Battery assembly
MBB
Fertigungs-
technik
Laser welding
Small series supply
Premium Automotive
MBB
Technologies
(China)
Hybrid modules
Dual clutch systems
Adressable
Market
Project sizes
E-Mobility
solutions
New business fields 2015/2016
Q1.2016 Q1.2015
+121%
Order entry
29
Aumann technology is central to electric motor and battery manufacturing
Electric motors Batteries
Leading manufacturer of highly
automated coil winding machines
Unique technology that cannot be
copied easily by competitors
30 years of experience with OEM
standards and requirements
Addressing complex process
requirements for assembly
Rich experience in welding and
contacting
Technologically pioneering
landmark projects in the US
Sources: Goldman Sachs, “The Low Carbon Economy”, November 2015; Management estimation 30
2018 2015 2025
Sold electric vehicles in million vehicles
MBB Fertigungstechnik & Aumann Revenue and earnings in millions of €
2015
125
2018
EBT
Electric mobility drives development of MBB Fertigungstechnik & Aumann
0.5
25
0.8
DTS with a leap in growth by D-A-CH presence and specialization in security
31
DC Herford 1983
Berlin 2012
Hannover 2009
Bremen 2009
DC Münster 2010
Bochum 2008
DC Hamburg 2014
Wien 2015
Regional development D-A-CH 2008 to 2015
Q1.2016 Q1.2015
+38%
Security Portfolio
Delete
Analyze and identify
Find
Encrypt
Blocking and alerting
Authenticate Datacenter
Sales- /Service-Office
Revenues
Overview
2015
2016
Share & Outlook
32
Unchanged shareholder structure
33
Freefloat
29,2%
35,4%
35,4%
Dr Christof Nesemeier
Gert-Maria Freimuth
>70%
Vivid IR-activity in the first half of 2016
34
Roadshow, Warschau 14 January 2016
Roadshow, Frankfurt & München 2 March 2016
Prior Kapitalmarktkonferenz, Frankfurt 8 March 2016
21. Münchener Kapitalmarktkonferenz 27 April 2016
Annual report 2015 29 April 2016
Frühjahrskonferenz, Frankfurt 10 May 2016
Quarterly report Q1.2016 31 May 2016
Roadshow, Frankfurt 2 June 2016
Roadshow, Düsseldorf 23 June 2016
Annual General Meeting 30 June 2016
MBB Roadtrip Ostwestfalen 19 – 20 July 2016
Quarterly report Q2.2016 31 August 2016
German Equity Forum, Frankfurt 21 - 23 November 2016
Quarterly report Q3.2016 30 November 2016
End of fiscal year 31 December 2016
-20%
0%
20%
40%
60%
80%
100%
120%
140%
160%
180%
200%
220%
240%
260%
280%
300%
320%
340%
360%
380%
400%
420%
440%
460%
480%
500%
J 11 O 11 F 12 J 12 O 12 F 13 J 13 O 13 F 14 J 14 O 14 F 15 J 15 O 15 F 16
MBB SE
MDAX
SDAX
DAX
Prime All Share
As of: 29 June 2016 35
Share price and analyst targets as of June 2016
Current share price: €30.50
WGZ Bank Research
Value Depesche SMC Research
Hauck & Aufhäuser
€34,30
€33
€34,50
€37
BUY
BUY BUY
BUY
quirin bank BUY €38
1 year: 25%
5 years: 350%
YtD: 10%
2015: 31%
36
MBB SE with €500 million revenues in 2020
115
253
37
2016e 2010 2020e
500e
300e
2015 2005
Growth targets
Revenues in millions of €
EBITDA margin
> 10%
Revenues
15% p.a.
Increasing
Dividends
Financial
Solidity
The information in this presentation is not an offer for sale or request to submit a bid to purchase or subscribe to shares of MBB SE shares; it is for information purposes only.
German legal framework
The information in this presentation is intended solely for persons who have a residential or business address in Germany. Access to the following information is permitted for these persons only. The
publication of this information on the internet does not represent an offer to persons with a residential or business address in other countries, particularly the United States of America, the UK and
Northern Ireland, Canada and Japan. The shares of MBB SE are publicly offered for sale and subscription only in the Federal Republic of Germany.
The information in this presentation can be disseminated in other legal systems only in accordance with local laws and persons who obtain access to this information must inform themselves about
and comply with the local laws. All information is made without guarantee.
No investment advice
The information in this presentation does not represent investment advice.
Forward-looking statements
If the information in this presentation expresses forecasts, estimates, opinions or expectations, or forward-looking statements are made, these statements can be related to known and unknown risks
and uncertainties. Therefore, the actual results and developments can differ greatly from the expectations and assumptions expressed here.
Risky investment
Shares of growth companies can offer major opportunities, but also carry related risks. Shares of growth companies are thus always a risky financial investment. A loss of the investment cannot be
ruled out. Therefore, this form of investment is more suited to diversification as part of a portfolio strategy.
Confidentiality
The information in this presentation is strictly confidential. It is intended for the designated recipient only and cannot be disseminated without the prior consent of MBB SE. For questions, contact:
MBB SE
Joachimsthaler Straße 34
D-10719 Berlin
web: www.mbb.com
Tel: 030-844 15 330
Fax: 030-844 15 333
E-mail: [email protected]
37
DISCLAIMER
MBB SE
Joachimsthaler Straße 34
D-10719 Berlin
Tel: 030-844 15 330
Fax: 030-844 15 333
Mail: [email protected]
Web: www.mbb.com
CONTACT
38
MBB.COM
