Germany's MBB Q1 revenue falls; confirms 2026 revenue forecast

MBB SE

12/05/2026 07:12

Overview

Germany industrial holding's Q1 revenue declined yr/yr, adjusted EBITDA rose 40%

Company's earnings growth driven by higher profitability at Friedrich Vorwerk and efficiency gains at DTS

Group equity exceeded €1 bln for the first time, company confirms 2026 forecast

Outlook

MBB confirms 2026 revenue forecast of €1.1–1.2 bln

Company expects 2026 adjusted EBITDA margin of 15–18%

Result Drivers

FRIEDRICH VORWERK PROFITABILITY - Significant increase in profitability at Friedrich Vorwerk, with adjusted EBITDA margin rising from 13.7% to 22.8% and revenue up 4.6% yr/yr

DTS EFFICIENCY GAINS - DTS improved adjusted EBITDA margin from 14.7% to 17.2% due to efficiency improvements and a positive product mix, despite lower revenue

AUMANN STABLE MARGINS - Aumann maintained a consistently high adjusted EBITDA margin of 10.7% despite declining revenue

Company press release: ID:nEQ29yhVGa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 237.50 mln
Q1 Adjusted EBITDA
EUR 41.9 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy"

Wall Street's median 12-month price target for MBB SE is €228.00, about 5.3% above its May 11 closing price of €216.50

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 20 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)