Aumann (AAG) Q4 2024 earnings summary

Executive summary

• Achieved record revenue of EUR 312.3 million in 2024, up 7.9% year-over-year, with EBITDA rising 73.4% to EUR 35.8 million and a margin of 11.5%, driven by strong E-mobility segment performance despite a challenging market.

• E-mobility segment revenue rose 30% to EUR 258.5 million, now 82.8% of total revenue, and EBITDA nearly doubled to EUR 33.8 million.

• Order intake declined 41% year-over-year to EUR 200 million, with a 39% drop in order backlog to EUR 184 million, reflecting industry slowdown and cautious investments, though Q4 showed slight recovery over Q3.

• Maintenance and service revenue accounts for roughly 10% of sales, with higher margins than core business.

• Net cash reached a record EUR 145 million, equity ratio at 62%, and cash flow from operations at EUR 19.2 million.

Financial highlights

• EBITDA margin improved from 7.1% to 11.5% year-over-year; EBIT margin reached 10.2%.

• Dividend increased to EUR 0.22 per share, and a 10% share buyback at EUR 12.37 per share was initiated.

• Group liquidity, including securities, reached a new record at year-end.

Outlook and guidance

• Revenue for 2025 expected to decline to EUR 210–230 million due to lower order backlog.

• EBITDA margin guidance for 2025 is 8–10%, supported by high-quality backlog and flexible cost structure.

• Early signs of industry recovery observed, with expectations for gradual improvement in the second half of 2025.