MBB SE Reports Restated Earnings Results for the Year of 2017; Provides Earnings Guidance for the Fiscal 2018
March 29, 2018 at 03:25 am EDT
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MBB SE reduced preliminary earnings per share (before adjustments) of EUR 2.04 to EUR 0.71 due to changes in the accounting of effects related to the Aumann IPO, necessary under IFRS. The adjusted eps (adjusted for effects from the IPO and PPA) of EUR 2.06 remains unchanged and, from MBB's perspective, best reflects the operating performance of MBB in 2017. As a result of the IPO and the capital increases of Aumann AG, MBB SE on the one hand incurred transaction-related one-off expenses and on the other hand recorded an increase in equity attributable to shareholders of MBB SE of EUR 196.9 million (resp. EUR 29.89 per share).
For 2018, MBB's forecast of more than EUR 500 million revenue and earnings per share between EUR 2.30 and EUR 2.45 remains unchanged.
MBB SE, formerly MBB Industries AG, is a German-based private equity firm specializing in acquisitions of established medium-sized industrial companies. The Company makes investments in entities seeking to sell off a part of their business or the entire operation, perhaps as part of a succession process; selling a subdivision or an affiliated entity that no longer forms part of the organization's core business, and seeking for a management buyout or buy-in. It targets investments in firms with turnovers of 10 million euros and above. Its portfolio consists of Aumann AG, specializing in e-mobility, coil winding and automation, CT Formpolster GmbH, a producer of flexible polyurethane foams, Delignit AG, a supplier of ecological hardwood-based materials, DTS IT AG, a cloud computing and cyber security provider, Hanke Tissue Spolka Z O.O., a producer of tissue paper, and OBO-Werke GmbH, a supplier of products for model construction, toolmaking and mould production, among others.
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