Aumann : Interim Statement 31 March 2024

Interim Statement

31 March 2024

Aumann AG, Beelen

Aumann in figures

Three months (unaudited)	2024	2023	Δ 2024
/ 2023
	€k	€k	%
Order backlog	313,866	276,501	13.5
Order intake	75,958	75,165	1.1
Earnings figures (IFRS)	€k	€k	%
Revenue	64,536	55,719	15.8
thereof E-mobility	48,611	39,499	23.1
Operating performance	64,600	56,670	14.0
Total performance	65,556	57,349	14.3
Cost of materials	-36,050	-34,960	3.1
Staff costs	-20,033	-16,167	23.9
EBITDA	6,747	3,468	94.5
EBITDA margin	10.5%	6.2%
EBIT	5,147	2,203	133.6
EBIT margin	8.0%	4.0%
EBT	5,950	2,191	171.5
EBT margin	9.2%	3.9%
Consolidated net profit	3,937	1,359	189.8
Earnings figures (adjusted)*	€k	€k	%
Adj. EBITDA	6,919	3,653	89.4
Adj. EBITDA margin	10.7%	6.6%
Adj. EBIT	5,341	2,397	122.8
Adj. EBIT margin	8.3%	4.3%
Adj. EBT	6,143	2,385	157.6
Adj. EBT margin	9.5%	4.3%
Figures from the statement	31 Mar	31 Dec
of financial position	€k	€k	%
Non-current assets	82,528	82,161	0.4
Current assets	262,830	270,570	-2.9
thereof cash and equivalents **	137,799	143,788	-4.2
Issued capital (share capital)	14,483	14,694	-1.4
Other equity	175,267	174,614	0.4
Total equity	189,749	189,308	0.2
Equity ratio	54.9%	53.7%
Non-current liabilities	32,230	30,807	4.6
Current liabilities	123,379	132,617	-7.0
Total assets	345,358	352,731	-2.1
Net cash (+) or net debt (-) **	129,183	135,032	-4.3

Employees

958

951

0.7

• For details of adjustments please see the information in the results of operations, financial position and net assets.
• This figure includes securities.

Rounding differences can occur in this report with regard to percentages and figures.

Business performance, result of operations, financial position and net assets

Page 2

Business performance, result of operations, financial position and net assets

Business performance

Aumann AG was able to increase its revenue in the first quarter of 2024 by 15.8% to €64.5 million. Against

the backdrop of the significantly improved profitability in the order backlog, EBITDA almost doubled from €3.5 million within the first three months of 2023 to €6.7 million in the same period of 2024. The EBITDA margin increased from 6.2% in the previous year to 10.5% and is thus already in the upper half of the

margin guidance for the fiscal year 2024. The E -mobility segment was particularly strong, increasing revenue by 23.1% to €48.6 million and EBITDA by 129.1% to €5.3 million compared to the previous year.

At €76.0 million, order intake after the first three months of 2024 was slightly above the previous year's

level. While the Classic segment was dominated by a major order in the field of renewables energies in the previous year, the strategically leading E -mobility segment takes a share of 90.8% in the first quarter

of 2024. With a cross-segmentbook-to-bill ratio of 1.18 after three months, the order backlog increased by 13.5% from €276.5 million to €313.9 million. The order backlog has thus not only reach ed another

record level in the company's history, but also continues to form a solid foundation for the forecast revenues and earnings growth in a market environment characterized by uncertainty.

Based on the successful start of the year, with a liquidity position of €137.8 million and an equity ratio of

54.9%, Aumann continues to be in an excellent position.

On November 17, 2023, Aumann AG resolved to make use of the authori sation granted by the Annual General Meeting on June 2, 2021 to acquire treasury shares in accordance with Section 71 (1) No. 8 of

the German Stock Corporation Act (AktG) and to repurchase treasury shares with a maximum volume of €8.0 million up to a price of €20.00 per share via the stock exchange in the period from November 22,

2023 to June 30, 2024 (share buyback program 2023/II). By December 31, 2023, a total of 115,009 shares with a total value of €2.0 million had been repurchased. As of the balance sheet date March 31, 2024, a further 210,783 shares with a total value of €3.6 million were repurchased. After the balance sheet date, a further 137,489 shares with a total value of €2.4 million were repurchased by May 13, 2024. The maximum volume of €8.0 million was thus reached on May 13, 2024 and the share buyback program

2023/II was completed.

The Executive Board and the Supervisory Board will propose the payment of a dividend to the Annual General Meeting. This will amount to €20 cents per dividend-bearing share.

Results of operations, financial position and net assets

Against the backdrop of a volatile economic environment, the results of operations, financial position and

net assets of the Aumann Group remain positive. Consolidated revenues increased in the first three months of 2024 by 15.8% and was at €64.5 million (previous year: €55.7 million). Total performance after considering capitalised development work and other operating income was €65.6 million, €8.2 million

more compared to the same period last year.

The cost of materials increased by 3.1% to €36.0 million, a disproportionately low increase compared to revenue growth, while personnel expenses rose by 23.9% to €20.0 million.

EBITDA (earnings before interest, taxes, depreciation and amorti sation) amounted to €6.7 million (previous year: €3.5 million) in the first quarter of 2024. After depreciation and amortisation of €1.6 million (previous year: €1.3 million), EBIT (earnings before interest and taxes) for the Aumann Group is €5.1 million (previous year: €2.2 million). The financial result for the first three months was €0.8 million (previous year: €0.0 million) resulting in an EBT (earnings before taxes) of €5.9 million (pre- vious year: €2.2 million). Net income amounted to €3.9 million (previous year: €1.4 million) or €0.27 per

share (based on the average number of shares outstan ding in the amount of 14,855,913) in the first three months.

In connection with the stock option program, personnel expenses of €172.0 thousand were adjusted (previous year: €185.0 thousand). Adjusted EBITDA thus amounted to €6.9 million (previous year:

€3.7 million). In addition, depreciation and amortisation of assets capitalised as part of the purchase

price allocation of Aumann Limbach-Oberfrohna GmbH and Aumann Lauchheim GmbH in the amount of €21.2 thousand was adjusted. Adjusted EBIT was thus at €5.3 million (previous year: €2.4 million).

Order intake in the first three months of 2024 totalled €76.0 million. The order backlog amounted to €313.9 million as of March 31, 2024. The Aumann Group's equity amounted to €189.7 million as of the March 31, 2024 (December 31, 2023: €189.3 million). Regarding the consolidated balance sheet total of €345,4 million the equity ratio was at 54.9%.

Business performance, result of operations, financial position and net assets

Page 3

As of March 31, 2024, the Aumann Group had cash and cash equivalents including securities of €137.8 million (December 31, 2023: €143.8 million). After deducting the Group's financial liabilities of €8.6 million (December 31, 2023: €8.8 million), the Aumann Group net cash position amounts to €129.2 million, compared to €135.0 million as of December 31, 2023.

Segments

In the E-mobility segment, revenue increased in the first quarter of 2024 by 23.1% to €48.6 million. The segment's EBITDA after three months amounted to €5.3 million (previous year: €2.3 million). EBIT amounted to €4.1 million (previous year: €1.5 million). Order intake in the E -mobility segment reached €68.9 million (previous year: €39.3 million).

In the first three months of the year, revenue in the Classic segment amounted to €15.9 million (pr evious year: €16.2 million). The segment's EBITDA amounted to €2.3 million (previous year: €1.9 million). EBIT amounted to €1.9 million (previous year: €1.5 million). Order intake in the Classic segment reached €7.0 million (previous year: €35.9 million).

Outlook

For the 2024 financial year, the Executive Board continues to expect revenue to grow to over €320 million

with an EBITDA margin of 9 to 11%.

Beelen, May 15, 2024

The Executive Board of Aumann AG

IFRS interim consolidated financial statements

Page 4

IFRS interim consolidated financial statements

	IFRS consolidated statement of profit or loss			Jan 1 - Mar 31,		Jan 1 - Mar 31,
			2024		2023
	(unaudited)			€k		€k
	Revenue			64,536		55,719
	Increase (+) or decrease (-) in finished goods and			65		952
	work in progress
	Operating performance			64,600		56,670
	Capitalised development costs			633		483
	Other operating income			323		196
	Total performance			65,556		57,349
	Cost of raw materials and supplies			-30,655		-30,860
	Cost of purchased services			-5,395		-4,101
	Cost of materials			-36,050		-34,960
	Wages and salaries			-15,732		-12,941
	Social security and pension costs			-4,301		-3,226
	Staff costs			-20,033		-16,167
	Other operating expenses			-2,727		-2,754
	Earnings before interest, taxes, depreciation and amortisation
	(EBITDA)			6,747		3,468
	Depreciation and amortisation expenses			-1,599		-1,265
	Earnings before interest and taxes (EBIT)			5,147		2,203
	Other interest and similar income			998		168
	Interest and similar expenses			-196		-180
	Net finance costs			802		-12
	Earnings before taxes (EBT)			5,950		2,191
	Income tax expense			-1,921		-790
	Other taxes			-91		-42
	Earnings after taxes			3,937		1,359
	Earnings per share (in €) - undiluted			0.27		0.09
	Earnings per share (in €) - diluted¹			0.27		0.09

1Diluted earnings per share for the previous year have been adjusted (see Note III.8 of the Notes to the Consolidated Financial Statements for the financial year 2023).

	IFRS consolidated statement of comprehensive income		Jan 1 - Mar 31,		Jan 1 - Mar 31,
		2024		2023
	(unaudited)		€k		€k
	Earnings after taxes		3,937		1,359
	Currency translation changes		18		-77
	Fair Value Reserve - Equity Instruments		-39		0
	Other comprehensive income after taxes		-21		-77
	Comprehensive income for the reporting period		3,916		1,282

IFRS interim consolidated financial statements

Page 5

Statement of financial position		Mar 31, 2024		Dec 31, 2023
Assets (IFRS)		unaudited		audited
		€k		€k
Non-current assets
Internally generated intangible assets		11,496		11,469
Concessions, industrial property rights and similar rights		2,091		2,153
Goodwill		38,484		38,484
Intangible assets		52,071		52,106
Land and buildings including buildings on third -party land		21,686		22,045
Technical equipment and machinery		2,394		2,447
Other equipment, operating and office equipment		4,031		3,562
Advance payments and assets under development		714		488
Property, plant and equipment		28,825		28,542
Deferred tax assets		1,632		1,513
		82,528		82,161
Current assets
Raw materials and supplies		2,664		2,886
Work in progress		3,625		3,532
Finished goods and commodities		177		161
Advance payments		12,731		10,747
Inventories		19,197		17,325
Trade receivables		11,847		22,677
Contractual assets		88,882		83,389
Other current assets		5,106		3,390
Trade receivables and other current assets		105,835		109,456
Securities		8,241		10,743
Cash in hand		4		3
Bank balances		129,554		133,042
Cash in hand, bank balances		129,558		133,045
		262,830		270,570
Total assets		345,358		352,731

IFRS interim consolidated financial statements

Page 6

	Statement of financial position			Mar 31, 2024		Dec 31, 2023
	Equity and liabilities (IFRS)			unaudited		audited
				€k		€k
	Equity
	Issued capital			14,483		14,694
	Capital reserves			130,228		133,491
	Retained earnings			45,039		41,123
				189,749		189,308
	Non-current liabilities
	Pension provisions			13,452		13,452
	Liabilities to banks			4,043		4,457
	Liabilities from leasing			1,801		1,622
	Other provisions			2,008		1,969
	Deferred tax liabilities			10,147		8,516
	Other liabilities			778		790
				32,230		30,807
	Current liabilities
	Other provisions			10,882		10,581
	Trade payables			18,819		31,016
	Contractual obligations			77,221		70,223
	Provisions with the nature of a liability			9,975		8,507
	Liabilities to banks			1,656		1,656
	Liabilities from leasing			1,115		1,021
	Tax provisions			917		845
	Other liabilities			2,794		8,767
				123,379		132,617
	Total equity and liabilities			345,358		352,731

IFRS interim consolidated financial statements

Page 7

	Consolidated statement of cash flows		Jan 1 - Mar 31,		Jan 1 - Mar 31,
		2024		2023
	(unaudited)		€k		€k
	1. Cash flow from operating activities
	Earnings before interest and taxes (EBIT)		5,147		2,203
	Depreciation and amortisation		1,599		1,265
	Increase (+), decrease (-) in provisions		340		1,963
	Gains (-), Losses (+) from disposal of PPE		-1		0
	Other non-cash expenses/income		38		69
	Adjustments for non-cash transactions		1,977		3,297
	Increase (-), decrease (+) in inventories, trade receivables		1,580		-14,347
	and other assets
	Decrease (-), increase (+) in trade payables		-9,717		-11,222
	and other liabilities
	Change in working capital		-8,137		-25,569
	Income taxes paid		-324		-296
	Interest received		1,098		168
	Cash flow from operating activities		-238		-20,197
	2. Cash flow from investing activities
	Investments (-), divestments (+) of intangible assets		-641		-677
	Investments (-), divestments (+) of property, plant		-594		-181
	and equipment
	Investments (-), divestments (+) of long-term financial assets		2,500		0
	and securities
	Cash flow from investing activities		1,264		-859
	3. Cash flow from financing activities
	Purchase of treasury shares		-3,563		-1,526
	Proceeds from borrowing financial loans		0		469
	Repayments of financial loans		-414		-568
	Repayments of leasing liabilities		-346		-187
	Interest payments		-196		-180
	Cash flow from financing activities		-4,519		-1,991
	Cash and cash equivalents at end of period
	Change in cash and cash equivalents (Subtotal 1 -3)		-3,493		-23,047
	Effects of changes in foreign exchange rates (no cash effect)		6		-43
	Cash and cash equivalents at start of reporting period		133,045		120,602
	Cash and cash equivalents at end of period		129,558		97,512
	Composition of cash and cash equivalents
	Cash in hand		4		3
	Bank balances		129,554		97,509
	Reconciliation to liquidity reserve on Dec 31		2024		2023
	Cash and cash equivalents at end of period		129,558		97,512
	Securities		8,241		0
	Liquid funds as of Dec 31		137,799		97,512

IFRS interim consolidated financial statements

Page 8

	Segment reporting	Classic		E-mobility	Reconciliation		Group
	01.01. - 31.03.2024 (unaudited)	€k		€k	€k		€k
	Revenue from third parties	15,925		48,611	0		64,536
	Total revenue	15,925		48,611	0		64,536
	EBITDA	2,271		5,346	-870		6,747
	Depreciation and amortisation	-386		-1,200	-14		-1,599
	EBIT	1,885		4,146	-884		5,147
	Net finance cost	-73		18	857		802
	EBT	1,812		4,164	-27		5,950
	EBITDA margin	14.3%		11.0%			10.5%
	EBIT margin	11.8%		8.5%			8.0%
	Trade receivables and receivables	21,815		78,318	596		100,729
	from construction contracts
	Contractual obligations	11,291		65,931	0		77,221
	Segment reporting	Classic		E-mobility	Reconciliation		Group
	01.01. - 31.03.2023 (unaudited)	€k		€k	€k		€k
	Revenue from third parties	16,190		39,529	0		55,719
	Total revenue	16,190		39,529	0		55,719
	EBITDA	1,866		2,333	-731		3,468
	Depreciation and amortisation	-400		-856	-9		-1,265
	EBIT	1,466		1,477	-740		2,203
	Net finance cost	-51		-34	73		-12
	EBT	1,416		1,443	-667		2,191
	EBITDA margin	11.5%		5.9%			6.2%
	EBIT margin	9.1%		3.7%			4.0%
	Trade receivables and receivables	30,383		65,401	3,743		99,528
	from construction contracts
	Contractual obligations	5,946		27,203	0		33,149

Financial calender

Interim Statement Q1 2024 15 May 2024

Annual General Meeting 2024 18 June 2024

Half-year Financial Report 2024 14 August 2024

Interim Statement Q3 2024 14 November 2024

End of the 2024 financial year 31 December 2024

Contact

Aumann AG

Dieselstraße 6

48361 Beelen

Germany

Tel. [phone] www.aumann.com [e-mail]

Legal Notice

Aumann AG

Dieselstraße 6

48361 Beelen

Germany