EQS-News: MAX Automation SE continues to perform resiliently in a challenging financial year 2024 by posting a positive result

PRESS RELEASE

MAX Automation SE continues to perform resiliently in a challenging financial year 2024 by posting a positive result
 

• Sales from continuing operations decline to EUR 366.0 million (12M 2023: EUR 397.4 million) due to continued muted demand
• Operating result (EBITDA) from continuing operations at EUR 29.3 million (12M 2023: EUR 34.6 million) due to sales and the previous year’s increase in personnel – EBITDA margin declines to 8.0% (12M 2023: 8.7%)
• Order intake from continuing operations drops to EUR 314.4 million (12M 2023: EUR 341.2 million) due to ongoing investment reluctance
• Order backlog of continuing operations forms solid starting point for 2025 at EUR 154.3 million (31 December 2023: EUR 206.0 million)
• Outlook for 2025 assumes a gradual recovery in demand: sales of between EUR 340 million and EUR 400 million and EBITDA of between EUR 21 million and EUR 28 million

Hamburg, 20 March 2025 – MAX Automation SE, a company listed in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE000A2DA588), was unable to completely escape the macroeconomic and industry-specific challenges in the past financial year 2024 in its continuing operations following the positive performance of past years. Overall, the MAX Group proved to be largely resilient and continued to generate a positive annual result from both the continuing operations and on a consolidated basis (including discontinued operations). The capital structure of the MAX Group improved significantly as a result of the completion of the sale of the MA micro Group and the subsequent partial repayment of liabilities from the syndicated loan.

ORDER SITUATION OF CONTINUING OPERATIONS CHARACTERISED BY ECONOMIC AND INDUSTRY-SPECIFIC CHALLENGES

Consolidated new order intake of the MAX Group’s continuing operations was down by 7.9% to EUR 314.4 million in financial year 2024 (12M 2023: EUR 341.2 million). This reflected in particular the continued challenging market environment in the automotive industry, with only ELWEMA able to benefit from larger follow-up orders. By contrast, the Vecoplan Group segment reported a recovery in new order intake in its recycling business unit. The MAX Group’s order backlog in continuing operations declined by 25.1% to EUR 154.3 million (31 December 2023: EUR 206.0 million).

SALES AND EARNINGS DEVELOPMENT STILL IMPACTED BY SLUGGISH DEMAND

In line with order intake, the MAX Group’s sales from continuing operations declined by 7.9% to EUR 366.0 million in the past financial year 2024 (12M 2023: EUR 397.4 million). The order backlog compensated to some extent for the weaker demand.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) of the MAX Group’s continuing operations decreased by 15.3% to EUR 29.3 million in the past financial year 2024 (12M 2023: EUR 34.6 million), due in particular to lower sales and the increase in personnel in the previous year in anticipation of a stabilisation in demand. The sales-based EBITDA margin declined accordingly to 8.0% (previous year: 8.7%).

The cash inflow from the operating cash flow of the MAX Group increased by 10.8% to EUR 19.0 million in the past financial year 2024 (12M 2023: cash inflow of EUR 17.2 million) due to the positive annual result. The cash inflow from investing activities of EUR 54.1 million (12M 2023: cash outflow of EUR 9.1 million) mainly resulted from the sale of the MA micro Group. The cash flow from financing activities resulted primarily from the partial repayment of the syndicated loan using the proceeds from the sale of the MA micro Group in an outflow of funds of EUR 89.9 million (12M 2023: outflow of EUR 17.3 million). Cash and cash equivalents as reported in the balance sheet continued to decline to EUR 9.0 million (31 December 2023: EUR 23.2 million), which was partly attributable to the expansion of cash pooling to include the portfolio companies.

The MAX Group’s working capital of EUR 105.3 million as of 31 December 2024 was up slightly on the previous year’s level (31 December 2023: EUR 102.9 million). In particular, the start of production orders with a simultaneous decline in advance payments in the Vecoplan Group segment was offset by improved receivables management in the NSM + Jücker segment. Net debt decreased significantly to EUR 58.2 million as a result of the partial repayment of the syndicated loan (31 December 2023: EUR 111.8 million). The positive development of the investment ZEAL Network SE also made itself felt. Overall, the equity ratio of the MAX Group improved significantly to 54.6% (31 December 2023: 29.8%).

“Considering the current challenges, the MAX Group’s strategy of expanding a diversified portfolio of leading companies in high-growth niche markets, both organically and inorganically, remains as important as ever in the current financial year 2025. In financial terms, the MAX Group has continued to improve on both the debt and equity sides. In the current financial year 2025, our priorities are on achieving the operational targets of our subsidiaries and, in view of the macroeconomic and industry-specific challenges over which we have only limited influence, understandably on cash management and thus on ensuring the stability of the Group. In addition, we continue to focus intensively on the strategic orientation of our subsidiaries and their growth and value creation potential, as well as the general strategic development of the MAX Group,” explained Guido Mundt, Chairman of the Supervisory Board of MAX Automation SE.

OUTLOOK FOR 2025 FORESEES GRADUAL RECOVERY IN DEMAND

The order backlog of EUR 154.3 million provides a solid starting point for the further economic development of the MAX Group in financial year 2025. The overall economic and industry-specific outlook suggests that demand for the MAX Group’s solutions will continue to recover. Overall, the MAX Group expects to see a stabilisation of its economic performance in financial year 2025, with sales of between EUR 340 million and EUR 400 million and earnings before interest, taxes, depreciation and amortisation (EBITDA) of between EUR 21 million and EUR 28 million.

KEY GROUP FIGURES (CONTINUING OPERATIONS) AT A GLANCE

* Comparison of the reporting dates 31 December 2024 and 31 December 2023

KEY FIGURES OF THE SEGMENTS AT A GLANCE

* Comparison of the reporting dates 31 December 2024 and 31 December 2023

DETAILED FINANCIAL INFORMATION

The Annual Financial Report for financial year 2024 of MAX Automation SE is available for download at https://www.maxautomation.com/en/investor-relations/financial-reports.

CONTACT:

Marcel Neustock
Investor Relations
Phone: +49 – 40 – 8080 582 75
investor.relations@maxautomation.com
www.maxautomation.com

MEDIA CONTACT:

Susan Hoffmeister
CROSS ALLIANCE communication GmbH
Phone: +49 – 89 – 125 09 03 33
sh@crossalliance.de
www.crossalliance.de

ABOUT MAX AUTOMATION SE

MAX Automation SE, headquartered in Hamburg, is a medium-sized finance and investment company focused on the management and acquisition of investments in growth and high cash flow companies operating in niche markets. 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. MAX Automation SE has been listed in the Prime Standard of the Frankfurt Stock Exchange since 2015 (ISIN DE000A2DA588).

www.maxautomation.com