Mbb Se · XETR:MBB
Mbb — Berenberg European Conference 2018
20 slides from Mbb's conference presentation, Dec 4, 2018
Slide 1: Berenberg European Conference 2018
Berenberg European Conference 2018 MBB SE 4 December 2018
Slide 2: As a listed family business, MBB generates growth through technological expertise
As a listed family business, MBB generates growth through technological expertise Growth Family Capital business markets Technology competence Mittelstand 2
Slide 3: Around 20% growth per year since IPO
Around 20% growth per year since IPO Revenue Result + 1,251% + 788% CAGR + 22% CAGR > 18% > 500 15.1 – 16.2 37.0 1.7 2005 Forecast 2005 Forecast 2018 2018 in millions of € in millions of € IPO: 9 May 2006 based on 2005 financial statements; Forecast as of 27 February 2018 3
Slide 4: MBB grows through investments and employee development
MBB grows through investments and employee development Growth through investments Hanke Tissue (without M&A) 2008 2009 2017 2010 2011 2012 ∼€100 Delignit Aumann million 2016 2013 2015 2014 Employee development As at 30 September 2018 2,160 143 Employees Apprentices +46% +77% Change in number of empl
Slide 5: MBB develops business models to growth models
MBB develops business models to growth models Growth through strategic development E-Mobility + 280% Automation since 2012 Cyber Security Service + 256% since 2008 Automotive + 295% Systems Supplier since 2003 Online + 201% Mattress since 2010 Revenue growth from the year of acquisition to forecaste
Slide 6: MBB strengthens strategic development through M&A
MBB strengthens strategic development through M&A Growth through bolt-on acquisitions Claas FT Aumann USK GmbH 2012 2015 2017 DTS ICSmedia eld 2008 2010 2011 BHI DHK HTZ 2003 2013 2013 Huntsman OBO Tooling 2003 2014 6
Slide 7: DTS – becoming the leading Cyber Security supplier together with MBB
DTS – becoming the leading Cyber Security supplier together with MBB Future Strategy €100m €100m revenues based on organic growth and M&A Further margin increase through managed security services Increase recurring revenues from cloud based services > €50m 2018 Start of Security Operations Center (S
Slide 8: All subsidiaries show double-digit growth
All subsidiaries show double-digit growth E-mobility Cyber Security Ecological products for +47% p.a. technology industries +11% p.a. +11% p.a. 44 46 210 53 49 36 34 35 43 44 33 156 28 34 36 102 107 103 96 94 31 20 22 22 26 67 66 09 10 11 12 13 14 15 16 17 18e 09 10 11 12 13 14 15 16 17 18e 09 10 11
Slide 9: The story goes on
The story goes on Revenue EBITDA Adj. + 32% + 44% 372.8 39.8 282.4 27.6 Q1-Q3 Q1-Q3 Q1-Q3 Q1-Q3 2017 2018 2017 2018 in millions of € in millions of € EBITDA adjustments account mainly for PPA amortisation related to the acquisition of USK by Aumann AG. 9
Slide 10: On track
On track Revenue EPS* 75% 69% Reached Reached 500.0 2.30 – 2.45 372.8 1.59 Q1-Q3 Forecast Q1-Q3 Forecast 2018 2018 2018 2018 in millions of € in millions of € * The placement of Aumann shares has increased the minority interest compared to the previous year 10
Slide 11: Strong substance
Strong substance Balance sheet as of 30 September 2018 in millions of € 706 706 153 Non-current assets* (22%) 200 496 Equity Current assets* (28%) (70%) 353 Cash* (50%) 292 154 Other liabilities Net Cash (22%) 56 (8%) Financial liabilities Assets Equity & Liabilities * Non-financial assets, current
Slide 12: Dividend aristocrat
Dividend aristocrat Dividend payments in € per share 1.32 1.22 0.66 0.61 0.50 0.25 0.66 CAGR +19% since 2007 0.55 0.57 0.59 0.61 0.50 without special dividends 0.44 0.33 0.25 0.25 0.25 IPO 0.10 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2x 2x 2x Share repurchase program 12
Slide 13: The German Mittelstand is at the verge of a major generational change
The German Mittelstand is at the verge of a major generational change Upcoming generational changes in the German Mittelstand > 510,000 „A wave of generational changes will roll across the > 230,000 Mittelstand until 2020“ KFW-Mittelstandspanel External acquirer considered Till 2019 Till 2022 Source
Slide 14: Target profile for acquisitions
Target profile for acquisitions Majority shareholdings Niche players with established business models Long-term value creation potential Highly motivated managers with strong incentives 14
Slide 15: MBB offers substantial benefits to all stakeholders
MBB offers substantial benefits to all stakeholders Discrete & lean Long-term Equity Entrepreneurial process perspective financing culture Fully satisfied Committed Fully satisfied Committed sellers employees customers management 2,000+ Phantom IPO employees and Shares participation their workers co
Slide 16: MBB continues its growth
MBB continues its growth Growth targets Revenue in millions of € Revenues 15% p.a. EBITDA margin >10% 750 Increasing Dividends 500 253 SDAX 115 Listing 37 2005 2010 2015 2018e Target 2020 16
Slide 17: Financial Calendar
FINANCIAL CALENDAR Berenberg European Conference, Pennyhill (UK) 03 - 06 Dezember 2018 End of fiscal year 31 December 2018 ODDO Forum, Lyon 10 - 11 Januar 2019 17
Slide 18: Contact
CONTACT MBB SE Joachimsthaler Straße 34 D-10719 Berlin Tel: +49 30 84415 330 Fax: +49 30 84415 333 Mail: [email protected] Web: www.mbb.com 18
Slide 19: Disclaimer
DISCLAIMER By accessing this document you agree to abide by the limitations set out hereafter. The information contained in this document relating to MBB SE ("MBB" or the "Company") may not be redistributed, reproduced, published, or passed on to any other person and must not be relied upon for any
Slide 20: MBB.COM
MBB.COM