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)
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