Aumann Ag Ord

Welcome to the earnings call of Aumann AG regarding the full year figures for 2025. The company CEO Sebastian Roll and CFO Jan-Henrik Pullitt will guide you through the presentation and the figures shortly, followed by a Q&A session via audio line and chat box. Having said this, I'm handing over to you, Sebastian.

Yeah. Good afternoon, everyone, and thank you for the kind introduction. I'm pleased to have you with us today, and for those I haven't met yet, my name is Sebastian Roll, and I'm the CEO of Aumann. So joining me in the call today is our CFO, Jan-Henrik Pollitt. So we really appreciate your time and your interest in Aumann. In the next few minutes, we will guide you through a brief overview of Aumann, the latest developments in our e-mobility and Next Automation business, and of course, our financial performance in 2025, where we delivered strong results in a challenging market environment. So let's start with a quick look at our business model. So we design and build high-end, fully automated production lines tailored precisely to the needs of our international customers. With decades of experience in automation, industry leaders around the world trust Aumann to deliver innovative solutions. One of our competitive advantages is staying ahead, especially in fast-growing markets, enabling us to quickly provide customized solutions. This is why the automotive market, especially the mobility sector, remains so attractive to our market. In addition, the robotics and automation market is growing rapidly, driven by demographic change, labor shortages and cost pressure. These trends also drive our next automation segment, allowing us to use our automation expertise in many industries beyond automotive. So let's take a quick look at Aumann's solutions. So our portfolio ranges from modular solutions and complex process solutions to fully integrated large-scale production solutions. At the modular end, we provide standardized sales systems. They enable our customers to adapt quickly and cost-efficiently to changing market demands. Building on this, Aumann designs production lines for more complex processes, including technologies such as winding, coating and testing. The aim is to implement special process steps in the most efficient way. Moreover, AUMAN offers fully customized large-scale solutions built to maximum output while ensuring high quality. Thanks to AUMAN's wide range of solutions, we can fully support different production strategies of our customers. So this slide here shows how Aumann became a technology leader in e-mobility. Starting from the traditional automotive business, e-mobility was identified as a growth market. Through targeted M&A, Aumann took the first step into e-motor technologies. Building on our know-how, we developed different solutions for the rotor, quickly followed by solutions for the stator and finally full e-motor assembly. After the e-motor, we leveraged our expertise to develop large-scale production solutions for battery modules and packs. In addition, we introduced our own modular systems. For example, in inverter assembly, but also very useful in the field of next automation. Furthermore, we have expanded into converting technology, enabling us to offer in addition production solution for electrode manufacturing. Aumann is a leading provider of turnkey solutions in e-mobility. This illustration here shows the drivetrain of a fully electric car and most of these components can be produced on Aumann production lines. From the outset, we have focused strongly on the e-drive unit. Even today, our customers still use different approaches to stator and rotor design. As a turnkey provider, we offer the latest production solutions for both. Beyond that, we have expanded our portfolio with modular production systems, for example for electronic components such as sensors or for example such as inverters. This enables us to offer flexible and scalable solutions perfectly tailored to each customer's needs. Let me now turn to our battery portfolio. Here Aumann benefits from its strong position in energy storage. We cover the full range from battery modules and packs to cell to X solutions. This expertise allows us to meet customer needs and develop new solutions for next generation battery technologies. Let's look at the e-mobility market today and in the future. BEP, so battery electric vehicle sales continues to gain traction. In 2025, more than 13.7 million were sold worldwide. So this means a plus of 30% in comparison to 2024. China stays in the lead with 9 million units, but Europe follows with strong growth, reaching more than 2.2 million units with 26% increase compared to 2024. including Germany, with an impressive 43% growth. The US market, which currently shows the lowest volume in comparison, remains at least stable at 1.2 million units. By 2030, BEFs are expected to make up 40% of sales, by 2035 even two-thirds. So overall rising BAF cells and a more stable geopolitical situation are expected to drive new investments in the near future. So let us now turn to our key commercial focus in 2025. As mentioned earlier, we are expanding beyond the automotive sector and focusing more on industries that need greater efficiency, higher productivity and less manual work. At the same time, rising labor costs and the shortage of skilled workers are accelerating the shift towards automation. In this context, we have moved, as you know, our next automation segment from an opportunistic to a strategic approach. This segment focuses on growth industries beyond automotive, such as defense, aerospace and life science. So let's take a closer look. In our next automation segment, we have defined three strategic growth areas. Aerospace, as you know, is gaining momentum. Demand in civil aviation is rising. Boeing and Airbus are forecasting more than 40,000 new aircraft over the next 20 years. Against this backdrop, Aumann is preparing its re-entry into aviation, offering solutions to support production ramp-ups with initial orders already secured in early 2026. At the same time, defense budgets are boosting. Drones combines exactly what we do best. electric motor, battery packs and full system integration, including end-of-line testing, just like in e-mobility. Same technology, new applications. Therefore, we easily developed integrated drone assembly lines and secured our first borders in 2024. Besides aerospace and defense, clean tech is also booming. Here, Aumann has acquired a double-digit million-dollar in energy infrastructure, delivering flexible assembly and test lines for medium-voltage circuit breakers. Finally, life science. So this sector benefits from long-term trends such as an aging population, strong investment levels and attractive margins. In 2025, Aumann entered the pharma market with solutions for producing skin, delivered patches and oral thin films. Now, I would like to hand over to Jan.

Thank you, Sebastian, and also a warm welcome from my side. I would now like to share with you the financial figures of the year 2025. Let me start with a brief overview. We entered the year aware that revenue would face a decline, primarily due to a softer order intake in 2024. At the same time, we remain fully committed to implementing every possible measure to protect our margins and sustain strong profitability. It is also important to highlight, particularly in the automotive sector, that investment behavior continues to be very cautious. This trend is visible across the full spectrum of OEMs and suppliers. Against this backdrop in 2025, Revenue reached €204 million, 35% below the previous year. Profitability remained strong with a double-digit EBITDA margin of 13.8%. Order intake totaled €147 million, down 26% year-over-year. Order backlog decreased from €184 to €122 million at year-end 2025. And our balance sheet remains robust with a net cash of €148 million. With this foundation, let us now dive into the details. Across segments, we achieved a revenue of €204 million, representing a year-over-year decrease of 35%. The main driver of this decline was the e-mobility segment, where revenue decreased by 37%. Revenue in the next automation segment also declined from 53.8 to 40.2 million euro, mainly because the prior year included a larger contribution from a major photovoltaic project. For 2025, we had initially expected revenue of approximately 210 to 230 million euro. Based on early projections in January, this estimate was refined to 205 million euro. With the audited figures now available, we ended the year 2025 at €204 million, closely matching this guidance. Looking ahead, we will now turn to the profitability and earnings performance to provide a complete picture of the financial results. Despite the decline in revenue, our profitability remained robust, demonstrating the resilience of our business model. EBITDA came in at 28.2 million Euro, down 21% year-over-year. The EBITDA margin increased from 11.5 to 13.8%. This reflects the strong execution, especially in our e-mobility segment. Key drivers of this solid performance include a high-quality and well-diversified order backlog, strict cost discipline across all projects, Capacity adjustments aligned with the subdued market environment and an above expectation Q4 with some larger e-mobility orders completed ahead of plan. Based on these dynamics, we raised our initial EBITDA margin guidance of 8 to 10% in January to 14%. With the final margin at 13.8%, we outperformed last year by 2.3 percentage points. underlining the operational strength of our segments. With profitability well established, let's now turn to order intake. As already mentioned, the overall investment climate remains challenging. Our business relies on our customers' capex, and especially for large-scale projects, long-term forward-looking decisions are essential. Many industries, particularly automotive, are currently not making these kinds of commitments, which affects our markets. However, we are not standing still. Internally, we continue to optimize costs and adjust capacities. Externally, we are actively developing new sales opportunities and pursuing M&A leads. We seek clear opportunities to grow, and we are confident these initiatives will deliver value. In 2025, total order intake declined 26% year-over-year to €147.5 million. But the next automation segment is showing strong progress. Order intake increased 54% year-over-year to €56.5 million. Our sales pipeline is also growing, demonstrating the potential of the next automation initiatives to drive future revenue. As a result, total order backlog declined from €184 million at year end 2024 to €122.2 million at year end 2025. However, the next automation segment continues to gain momentum, with its order backlog increasing 39% to €47.9 million. Why the overall backlog? is below our desired level, both volume and quality of the backlog are solid. And we have, of course, continued to account for this backlog conservatively in our financial statements. Let me now move to the next slide and walk you through the segment figures, starting with the e-mobility segment. In the e-mobility segment, order intake of 91 million euro is 44% under the previous year due to the mentioned market conditions. As a result, order backlog decreased by 50% to 74.3 million euro. At the same time, revenue decreased by 37% to 163.8 million euro. EBITDA is declining at a slower rate than revenue by minus 21% to 26.6 million euro, which means a strong margin of 16.2%. In the next automation segment, order intake increased year-over-year to €56.5 million as the new positioning is opening new markets. End of 2025, order backlog amounted €47.9 million. Revenue decreased 25% year-over-year to €40.2 million. And the EBITDA margin increased by two percentage points to 12.8%, which leads to a total EBITDA of 5.1 million euro. Before we take a closer look at the balance sheet, let me provide a brief overview of our group cash flow in 2025. Cash flow from operating activities reached 38.4 million euro, reflecting the strong results for the year, and a 50 million euro reduction in working capital compared to 2024. Importantly, we returned 23.3 million euro to our shareholders through dividends and the share buyback program, underlining our commitment to delivering value to investors. As a result, cash and cash equivalents, including securities, remain at a record high level of 152.8 million euro. By the end of December 2025, our balance sheet continues to be in a good shape, with an equity ratio of 66.7% and 153 million euro cash, of which 148 million euro are net cash. Our financial foundation will continue to allow us to respond flexibly to market opportunities, to drive the expansion of the next automation segment, both organically and through M&A activities, and to ensure further shareholder participation through share buybacks and dividends. Following the successful year 2025, we will propose a dividend payment of 25 cent at the AGM, which is a further modest dividend increase compared to the previous years. And of course, we currently have an existing authorization to acquire treasury shares up to 10% of share capital. This provides the company with flexibility to act opportunistically in the market, and at the same time, it ensures that we can continue to participate our shareholders in the company's success. To conclude, we would like to provide our guidance for 2026. We expect a mixed but well-balanced development across our segments. And e-mobility revenue is likely to decline due to a lower starting order backlog. In next automation, we see continued positive momentum. Overall, the group enters 2026 with an order backlog of €122.2 million. We expect total revenue of around €160 million with an EBITDA margin of 6% to 8%. Our diversified business model provides stability and supports a resilient and profitable year. Let me now hand over to Sebastian again.