Aumann AG

Aumann reported H1 2026 revenue of EUR 70.6 million, down 35% year over year, with EBITDA of EUR 7.4 million, down 35%, and an EBITDA margin of 10.5%. Order intake was EUR 65.4 million, down 27% year over year, and backlog was EUR 115.4 million at June 30; net cash was EUR 154.4 million, and equity ratio was 62.2%. By segment, E-mobility revenue fell 47% to EUR 47.4 million and EBITDA was EUR 5.9 million, while Next Automation revenue rose 23% to EUR 23.2 million and EBITDA was EUR 2.7 million. For the full year 2026, management confirmed guidance for approximately EUR 160 million in revenue and an EBITDA margin of 6% to 8%.

Sebastian Roll framed the quarter as a period where the automotive market stayed cautious, but the company is seeing more opportunity outside E-mobility. He repeatedly emphasized that Next Automation is gaining momentum, with traction in aerospace, defense, clean tech, and life science, and said the diversification strategy is working. His tone was confident but realistic: he stressed that customer investment cycles are still slow, yet he expects demand to improve over time and wants to accelerate growth both organically and through M&A.

Jan-Henrik Pollitt said the company deliberately protected profitability through cost and capacity discipline while the market stayed weak, and he pointed to improved operational efficiency. He highlighted revenue of EUR 70.6 million, EBITDA of EUR 7.4 million, EBITDA margin of 10.5%, order intake of EUR 65.4 million, backlog of EUR 115.4 million, and net cash of EUR 154.4 million. He also noted a roughly EUR 2 million positive impact from releasing prior-year risk provisions, said equity ratio was 62.2%, and reiterated the full-year guidance of about EUR 160 million revenue and a 6% to 8% EBITDA margin. He added that the share buyback liability of EUR 23 million was recognized in equity before the cash outflow occurred in July, and said the balance sheet gives flexibility for Next Automation growth, M&A, and shareholder returns.

Analysts pressed on why rising EV and hybrid registrations have not yet translated into more orders, and management said customers still have enough capacity and are only now beginning to invest in new platforms. On the M&A side, management said it is evaluating a handful of targets but prefers strategic and quality fit over speed, with discussions focused more on Next Automation. Questions also focused on aerospace, drones, and life sciences; management said these are still early-stage opportunities, but it has already won first orders in aerospace and drone-related work, and it sees a broader pipeline across aviation, defense, life science, and some general-industry topics.