DGAP-News: MAX Automation SE / Key word(s): Quarter Results/Quarterly / Interim StatementMAX Automation starts financial year 2022 successfully and continues its strategic realignment 12.05.2022 / 07:30 The issuer is solely responsible for the content of this announcement.

MAX Automation starts financial year 2022 successfully and continues its strategic realignment

Incoming orders 52.6% above the previous year (3M 2022: EUR 112.3 million vs. 3M 2021: EUR 73.6 million)

Order book up 41.8% (3M 2022: EUR 302.2 million vs. 3M 2021: EUR 213.1 million)

Sales revenue 28.7% above the previous years level (3M 2022: EUR 91.1 million vs. 3M 2021: EUR 70.8 million)

EBITDA of EUR 2.0 million burdened by one-off liquidation of iNDAT, especially provisions (3M 2021: EUR 3.6 million)

New syndicated loan of EUR 190 million secures financial stability

Capital increase resolved to strengthen the equity ratio and the capital structure

Sales and earnings forecast for the full year 2022 confirmed

Dsseldorf, 12 May 2022 - MAX Automation SE (ISIN DE000A2DA588), a company listed in the Prime Standard of the Frankfurt Stock Exchange, has gotten off to a successful start to financial year 2022 and achieved significant increases in sales on the basis of high order backlogs at the beginning of the financial year and continued good order intake. While the liquidation of iNDAT Robotics, in particular provisions, burdened the operating result before interest, taxes, depreciation and amortisation (EBITDA), the other MAX investments developed in line with the companys strategy.

Positive order development in particular from Vecoplan, NSM + Jcker and Elwema segments

The MAX Groups consolidated order intake increased by 52.6% to EUR 112.3 million in the first quarter of 2022 (3M 2021: EUR 73.6 million). This positive development was mainly driven by the Vecoplan Group, NSM + Jcker and Elwema segments that offer solutions for environmental technology, the food industry, and the automotive industry. The bdtronic Group also experienced a solid development due to demand for dispensing and hot riveting technology from the automotive industry. After the high order intake in the previous quarters, the order intake of the MA micro Group was below the previous years level while the order backlog remains high. AIM Micro received a major order for 2023. Following the closure of the iNDAT segment resolved in February, only a small number of service orders were taken, therefore order intake fell accordingly. The order development in the Other segment was characterised by the winding down and liquidation of the IWM companies. Overall, the MAX Groups order backlog rose by 41.8% to EUR 302.2 million as of 31 March 2022 (31 December 2021: EUR 213.1 million).

Operating result burdened by provisions for the liquidation of iNDAT

MAX Groups sales revenue increased by 28.7% to EUR 91.1 million in the first quarter of 2022 (3M 2021: EUR 70.8 million). The increase is due to the high order backlog at the end of 2021 and strong order intake in the first quarter. In the bdtronic Group segment, dispensing technology and the strong service business were key drivers of sales revenue, while project delays led to a minor overall decline. Vecoplan Group, MA micro Group and AIM Micro as well as NSM + Jcker and Elwema recorded high sales on the basis of the good order situation, while iNDAT and Other segments posted declines in sales as expected.

The liquidation of the loss-making iNDAT segment, which was initiated as part of the change in strategy, had a negative impact on the operating result before interest, taxes, depreciation and amortisation (EBITDA) of the MAX Group, particularly due to provisions. The MAX Group EBITDA amounted to EUR 2.0 million (3M 2021: EUR 3.6 million). The other investments of the MAX Group developed as planned and in part better than expected. The bdtronic Group and Vecoplan Group segments developed as expected. MA micro and NSM + Jcker benefited from higher sales with high-margin projects, while Elwema improved to a positive operating result through optimization measures in project handling and cost savings. In the Other segment, the winding down and liquidation costs of the IWM companies had a negative impact.

The MAX Group recorded a cash outflow from operating cash flow of EUR 6.4 million in the first quarter of 2022 due to the working capital requirements of the increased project volume (3M 2021: cash outflow of EUR 8.2 million). This is due in particular to the increase in inventories. Net debt as of 31 March 2021 reflects the further decrease in bank loans to EUR 83.1 million compared to the same quarter of last year (31 March 2021: EUR 93.4 million). However, bank loans increased by EUR 14.9 million compared to the end of 2021 due to increased operational financing needs. Working capital declined to EUR 40.6 million (31 March 2021: EUR 51.5 million) with a simultaneous increase in inventories due to high advance payments in the past financial year. Cash and cash equivalents increased to EUR 34.1 million in the first quarter of 2022 (31 December 2021: EUR 30.1 million), in particular due to the use of the new syndicated loan.

We started financial year 2022 with operational and strategic successes and have achieved significant milestones. These include the early agreement of a new syndicated loan of EUR 190 million in the first quarter and the capital increase against cash and non-cash contributions successfully placed after the end of the reporting period. We have thus secured the financial stability for the implementation of our strategy and significantly strengthened the capital structure of the MAX Group. Operationally, order development and sales revenue have increased significantly. Adjusted for the provisions for the liquidation of iNDAT, profitability is also developing in line with the companys expectations, said Dr. Christian Diekmann, Managing Director and CEO/CFO of MAX Automation SE.

Outlook for 2022 confirmed

In view of the successful development in the first quarter of 2022 and the order backlog that is higher than in the same quarter of the previous year, the Managing Directors see a solid basis for the current financial year and confirm the outlook for 2022. Assuming that the current situation in Ukraine and possible sanctions do not have a significant impact on the economic development of the Group, MAX Automation remains committed to achieving sales revenue of between approximately EUR 360.0 million and EUR 420.0 million in financial year 2022. For operating earnings before interest, taxes, depreciation and amortisation (EBITDA) of the MAX Group, the Managing Directors expect a range of approximately EUR 23.0 million to EUR 29.0 million, taking the liquidation costs for iNDAT into account.

Detailed financial information

The complete quarterly statement for the first quarter of 2022 of MAX Automation SE is available for download at https://www.maxautomation.com/en/investor-relations/financial-reports/.

Contact:Marcel NeustockInvestment ManagementPhone: +49 - 211 - 9099 110investor.relations@maxautomation.comwww.maxautomation.com

Contact for media representatives:Susan HoffmeisterCROSS ALLIANCE communication GmbHPhone: +49 - 89 - 125 09 03 33sh@crossalliance.dewww.crossalliance.de

About MAX Automation SEMAX Automation SE, headquartered in Dsseldorf, is a medium-sized finance and investment company focused on the management and acquisition of investments in growth companies operating in niche markets. The current portfolio of companies consists of ten portfolio companies and their respective subsidiaries (if applicable) which develop, manufacture, and distribute a diversified portfolio of technologically complex machinery, equipment, and integrated automation solutions as well as complementary services such as consulting, production support, maintenance, and repair for their customers both in Germany and internationally. The products and solutions of the portfolio companies are used in various end industries and for numerous industrial applications, including automotive, electronics, recycling, raw materials processing, packaging, and medical technology industries. MAX Automation SE has been listed in the Prime Standard of the Frankfurt Stock Exchange since 2015 (ISIN DE000A2DA588) and generated sales of EUR 349.1 million in 2021.

http://www.maxautomation.com

12.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.

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MAX Automation starts financial year 2022 successfully and continues its strategic realignment - Yahoo Finance UK