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Q2 earnings growth, margin forecast hike boost MBB shares

BUZZ-Q2 earnings growth, margin forecast hike boost MBB shares

** Shares in MBB MBBG.DE rise 5.8% as the German investment holding company reports a sharp increase in quarterly adjusted earnings and raises its FY margin outlook

** MBB's Q2 adjusted EBITDA rose by 62% y/y to €75.2 ($85.80) million

** Its adjusted EBITDA margin widened by 8.7 percentage points to 25.1% in the quarter

** "The key driver of this development was once again the very strong operating performance of Friedrich Vorwerk, but also incremental EBITDA gains at DTS, Delignit and Hanke," the company says

** MBB upgrades its FY earnings forecast to an adjusted EBITDA margin range of 18-20% from 15-18%

** Shares on track for their best day since April 8, when they closed 8.2% higher

($1 = 0.8764 euros)


(Reporting by Basile Day)

((Basile.Day@thomsonreuters.com))

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