Welcome to the earnings call of the Aumann AG regarding the Q1 figures of 2026. The company CEO, Sebastian Roll, and CFO, Jan-Henrik Pollitt, will guide you through the figures in a moment, followed by a Q&A session via audio line and chat. With that, I'm handing over to you, Sebastian.
Yeah, thank you. Good afternoon, everyone, and thank you for the kind introduction. I'm very pleased to have you with us today. For those I haven't met yet, let me quickly introduce myself. My name is Sebastian Roll, and I'm the CEO of Aumann. Joining me on the call today is our CFO, Jan-Henrik Pollitt. We really appreciate your time and your interest in Aumann, and in the next few minutes, we will walk you through a brief overview of Aumann, the latest market trends in e-mobility, and our progress in our segment Next Automation, and of course, a look at our financial performance in Q1 2026. Let's start, as always, with a quick overview of our business model. At Aumann, we design and build high-end, fully automated production lines tailored precisely to the specific needs of our international customers.
With decades of experience in automation technology, many global industry leaders around the world trust Aumann to deliver innovative and reliable solutions. One of our competitive advantage is staying ahead of market trends, especially in fast-growing markets. This allows us to quickly develop customized automation solutions. That is why the Automotive industry, especially the e-mobility sector, remains so attractive for Aumann. At the same time, the robotics and automation market is growing rapidly, driven by several long-term trends like demographic change, labor shortages, and increasing cost pressure. These developments also support the growth of our Next Automation segment, where we use our automation experience. Let's take a quick look at Aumann's solutions portfolio. Our portfolio ranges from modular solutions to complex process solutions and, in the end, fully integrated large-scale production solutions.
At the modular level, we provide standardized production sets, and these systems allows our customers to react quickly and cost efficiently to changing market requirements. Building on this, Aumann designs production lines for more advanced manufacturing processes, including technologies such as winding, coating, and testing. The goal is always to implement special process steps in the most efficient way. In addition, Aumann offers fully customized turnkey solutions designed for maximum output while maintaining the highest quality standards. Thanks to this broad range of solutions, Aumann can support the different production strategies of our customers. This slide shows how Aumann became a technology leader in e-mobility. Starting from the traditional automotive business, e-mobility was identified as a growth market. Through targeted M&A, Aumann took the first step into e-motor technologies.
Building on our know-how, we developed different solutions for the rotor, quickly followed by solutions for the stator, and finally, for the full e-motor assembly. After the e-motor, we leveraged our expertise to develop large-scale production solutions for battery modules and packs. In addition, we introduced our own modular system, for example, in inverter assembly, but also very useful now in the field of Next Automation. Furthermore, we have expanded into converting technology, enabling us to offer production solutions, for example, electrode manufacturing. Aumann is a leading provider of turnkey solutions in e-mobility. This illustration shows the drivetrain of a fully electric car, and most of these components can be produced on Aumann production lines. From the outset, we have focused strongly on the e-drive unit. Even today, our customers still use different approaches to stator and rotor design.
As a turnkey provider, we provide the latest production solutions for both. We have expanded our portfolio with modular production systems, for example, for electronic components such as sensors and inverters. This enables us to offer flexible and scalable solutions perfectly tailored to each customer's needs. Let me now turn to our battery portfolio. Here, Aumann benefits from its strong position in the area of energy storage. We cover the full range, from battery modules and packs to the Cell-to-X solutions. This expertise allows us to meet customer needs and develop new solutions for next generation battery technologies. Let's take a look at the e-mobility market today and in the future. BEVs, battery electric vehicles, sales continue to gain traction. Last year in 2025, more than 30.7 million were sold worldwide.
This means a plus of 30% in comparison to 2024. China stays in the lead with 9 million units, Europe follows with strong growth, reaching more than 2.2 million units with 26% increase compared to 2024, including Germany, with an impressive 43% growth. The U.S. market, which currently shows the lowest volume in comparison, remains at least stable at 1.2 million units. By 2030, BEVs are expected to make up 40% of sales, by 2035, even two thirds. This means overall, rising BEV sales are expected to drive new investments in the near future. Let us now turn to our key commercial focus also in 2026. As mentioned earlier, we are expanding beyond the automotive sector and focusing more on industries that need greater efficiency, higher productivity, and less manual work.
At the same time, rising labor costs and the shortage of skilled workers are accelerating the shift towards automation. In this context, we are pushing our Next Automation segment. This segment focuses on growth industries beyond automotive, such as defense, aerospace, clean tech, and life science. Let's take a closer look at this segment. In our Next Automation segment, we have defined three strategic growth areas. Aerospace, as you know, is gaining momentum. Demand in civil aviation is rising, and Boeing and Airbus are forecasting more than 40,000 new aircraft over the next 20 years. Against this backdrop, Aumann secured first orders in 2026 supporting civil aircraft production ramp-ups. At the same time, defense budgets are boosting. Drones, as you know, are our focus.
Drones combines exactly what we do best, electric motors, battery packs, and full system integration, including end-of-line testing, just like in e-mobility. This means same technology, new applications. Therefore, we easily developed integrated drone assembly lines and secured our first, unfortunately still small, orders. Besides aerospace and defense, clean tech is also booming. Here, Aumann wins in 2026 orders for automated solar module recycling solutions and membrane manufacturing systems for fuel cell application, targeting industrial charging infrastructure and off-grid markets. Finally, Life Science. This sector benefits from long-term trends, such as an aging population, strong investment levels, and attractive margins. Starting in the end of last year, Aumann entered the pharma market with solutions producing for skin-delivered patches and oral thin films. Now I would like to hand over to Jan.
Sorry, I have a technical problem. I need to switch the slides. Okay. Thank you, Sebastian, also warm welcome from my side. Sorry for the technical issue. I would now like to share with you the financial figures for the first quarter of 2026. Let me start with a brief overview. We entered the year aware that revenue would continue to face pressure as a result of the softer order intake in 2024 and 2025. At the same time, we stayed firmly focused on driving efficiency across the organization to protect our margins and ensure continued profitability. This focus continues to guide our actions today. It is important to note that the investment environment in the automotive industry continues to be characterized by a high degree of caution and delayed decision-making. This cautious spending behavior remains evident across both OEMs and suppliers.
At the same time, we are seeing encouraging momentum in our Next Automation segment, with improvements in both order intake and order backlog. This indicates that our intensified sales and business development efforts are gradually translating into tangible market traction. Against this backdrop, in Q1 2026, revenue reached EUR 37 million, which is 38% below the previous year. Profitability remains solid, with a double-digit EBITDA margin of 10.8%. Order intake totaled EUR 34 million, down 33% year-over-year. Order backlog decreased from EUR 173 million- EUR 120 million at the end of March 2026. In total, our balance sheet remains very robust, with a net cash of EUR 144 million. With this foundation, let us now dive into some details.
Across segments, we achieved a revenue of EUR 37.3 million, representing a year-over-year decrease of 38%. Revenue in the first quarter is typically still seasonally weaker, but it is in line with our full- year guidance. The main driver of this decline was the E-mobility segment, where revenue decreased by 45%. Revenue in the Next Automation segment was, with EUR 9.3 million, on previous year's level. Looking ahead, we will now focus on profitability and earnings to complete the financial picture. Despite the decline in revenue, our profitability remained robust. EBITDA came in at EUR 4 million, down 39% year-over-year, with an EBITDA margin of 10.8%, which is stable at a solid level. This performance was based on a good project execution. In some projects, even better than expected.
As a result, some conservative risk provisions of the year-end closing were not required in Q1, leading to a positive effect of approximately EUR 1.3 million in other operating income from the release of provisions. Let us now turn to order intake and order backlog. As already mentioned, the overall investment climate continues to be challenging. Currently, especially in the automotive sector, long-term and forward-looking decisions are subdued, which impacts our figures. In response, we are optimizing costs and capacities while actively pursuing new sales opportunities and selected M&A leads. We see clear growth potential and remain confident in capturing it. In Q1 2026, total order intake declined 33% year-over-year to EUR 34.4 million. The Next Automation segment is showing progress. Order intake increased 128% year-over-year to EUR 19.4 million.
Our sales pipeline is also growing, demonstrating the potential of the Next Automation initiatives to drive future revenue. Total order backlog declined from EUR 173.4 million- EUR 119.5 million at the end of March. The Next Automation segment continues to gain momentum, with its order backlog increasing 50% to EUR 57.6 million. Let me now move to the next slide and walk you through the segment figures, starting with the E-mobility segment. In the E-mobility segment, order intake of EUR 26 million is 65% under the previous year due to the mentioned market conditions. As a result, order backlog decreased by 45% to EUR 62 million, and at the same time, revenue decreased by 45% to EUR 28 million.
EBITDA is declining due to volume to EUR 3.7 million after three months, which means a strong margin of 13.3% after 12.2% in the previous year. In the Next Automation segment, order intake increased year-over-year, as said, by 128% to EUR 19.4 million due to the new positioning. End of March 2026, order backlog amounted EUR 57.6 million, an increase of 50%. Revenue stands at EUR 9.3 million, on par with the previous year. EBITDA declined slightly to EUR 1.0 million, corresponding to an EBITDA margin of 10.4%. However, this is primarily attributable to the project mix in Q1.
By the end of March 2026, our balance sheet continues to be very solid, with an equity ratio of 68.3% and EUR 148 million cash, of which EUR 144 million are net cash. Our solid financial foundation will continue to allow us to respond flexibly to market opportunities, to drive the expansion of the Next Automation segment, both organically and through M&A activities, and to ensure further shareholder participation. To conclude, we would like to confirm our guidance for 2026. We expect a mixed but well-balanced development across our segments. E-mobility revenue is likely to decline due to a lower starting order backlog. In Next Automation, we see continued positive momentum. We expect total revenue of around EUR 160 million, with an EBITDA margin of 6%- 8%. Our diversified business model provides stability and support a resilient and profitable year. Let me hand over to Sebastian again.
Yeah. Thanks, Jan. Let me briefly summarize the key takeaways. As expected, the market environment in the automotive industry remained challenging also in the first quarter. As a result, our order intake declined to EUR 34 million, mainly driven by weaker demand in e-mobility. At the same time, our Next Automation segment developed very positively, step by step, with strong growth in areas such as aerospace and clean tech. This clearly confirms that our diversification strategy is working. Despite these headwinds, as Jan said, we started the year with a double-digit EBITDA margin of 10.8%, almost on the level of last year. For the full- year, 2026, we continue to expect revenues of around EUR 160 million, with a profitable EBITDA margin of 6%-8%.
In addition, Aumann remains in a very strong financial position, with net liquidity of more than EUR 140 million and a very solid equity ratio. That's clearly set us apart from most of our competitors and give us the freedom to shape 2026. Our clear focus is to accelerate our business in Next Automation, both organically and through targeted M&A opportunities. Thank you very much for your attention. We are now happy to take your questions.
Thank you very much for your presentation. Ladies and gentlemen, we are moving on to our Q&A session. For questions in person via audio line, please click on the Raise Your Hand button. If you are dialing in via phone, you can use the key combination star nine followed by star six to unmute yourself, additionally, you can also place your questions in our chat box. So far, we have no questions coming in. There's the first hand up. Michael Rice, you should be able to speak now.
Yes. Hello.
Hello.
Hi, Mike.
Hi, Michael.
I have two questions, if I may. The first, you mentioned the sales pipeline and Next Automation is growing, but you didn't mention the E-mobility sales pipeline, especially. I assume it's also shrinking like the order entry. Is it right, or is there some stabilizing elements?
I mean, it's more the problem, as Jan mentioned already, that we still have, I would say, a significant E-mobility pipeline, the decisions right now are postponed, as we have also had the situation in the end of 2025. We hope for sure that the Iran crisis is leading, as it is already, to a higher oil and food prices. What we see right now, for example, in the first quarter 2026, is that BEV sales are also going up. Especially in Europe by 26%, in Germany even by 41%. For sure, we think, in our opinion, the behavior of the customer is changing right now due to these facts, and we see a growing interest right now in electric vehicles. For sure, later on, we are quite sure that we can see investment cases again or that these decisions which were postponed are now coming step by step.
Oh, okay. Thanks. The second one, I think for a few quarters now, we talked about M&A opportunities. I assume the one or the other, you missed it, or it didn't realize at all. Yeah, maybe you can comment a little bit on the past targets and future targets, if they are the same or there's some difference inside there.
I mean, we didn't lost one, yeah? We are still looking at different targets, to be honest. What we changed a little bit, I think this is something also we have mentioned here in the last call, is that for sure we are now more focusing and targeting on M&A opportunities in the area of Next Automation, yeah? That's for us very important right now to find there, let's say, some special processes, yeah? If you have one special process in the area of, for example, aviation, yeah, it's much easier to automate the topics around.
It's nearly the same what we did in the past for E-mobility, yeah. We had these winding process. The core was the winding process, we developed everything around, every automation around, yeah. It's easy for us to automate something, if you have a special process, you are not just a turnkey provider or something like this, yeah. You are really the one who can, yeah, who can execute very complex processes and in the end of the day, the customer needs.
Okay, good luck for that.
Those were my questions. Thanks.
Thanks, Michael.
Thank you very much. Next in line is Charlie Michaelis. The stage is yours.
Good afternoon, gentlemen.
Hi, Charlie.
Hi. How are you doing, Sebastian?
Fine. You're asking for the EUR 100 million, no? Or the intake, yeah.
No, no. I'd like to turn to just the progress you're making in Next Automation. Now as a percentage of your order book and order intake, the numbers are getting to be large. When do you think Next Automation might surpass your traditional, well, not traditional, your Electric Vehicle business?
Okay. I hope not so soon, not because not pushing Next Automation, but also, I think or I hope that still, as I said, E-mobility is also again an increasing business. Nevertheless, I mean, Charlie, you asked us, I think one year ago, if it is possible to come to EUR 100 million in Next Automation. I think we are on the way, yeah. We have to see when we have to look carefully from quarter- to- quarter. Honestly, we are now in all these different areas which we haven't expected one year before. As you said, in the last quarter, or in Q4, we did already EUR 27 million order intakes in Next Automation.
We are at EUR 19 million for Q1. Important is that we are building up the sales pipeline, and as I said also before, it's not so easy because Next Automation is taking more time. Yeah. You're working with new industries, you're working with new customers, and in the end of the day, with new product solutions. Yeah. I think the topic is going and moving in the right direction right now with Next Automation.
Well, congratulations. Clearly, that was a good decision to focus on this new business.
Yeah. We spoke several times about this
Not completely new, but I mean, if you look at where you stand today, without it would be really difficult. From an overall growth perspective, in Next Automation, is there one particular segment that is most promising in the one to three -year view?
I mean, infrastructure is very interesting for us, but also aviation. I mean, I can just underline that this was really a big step for us now in 2026 to have, let's say, a reentry in the aviation area. This was very important for us, so we worked on this the whole last year to get in this business again. We are also there right now offering additional projects right now, but also infrastructure. Infrastructure end of last year, I mean, also in life science, pharma is promising. Right now we are happy that there's not only the one, there are now different areas where we would like to expand our business.
Got it. Drone, the drone business obviously is getting a lot of visibility, and there's such a big push for more defense spending. Could it be that you could have some sort of upside, almost surprise coming from that business?
Yeah. I mean, we are working on this. We are very hard working on this. I mean, as you know, we have now production solutions to manufacture, I don't know, 50,000, 100,000 units per month or whatever. We have now a very scalable production solution for each customer, even if there's still only a few hundreds or a few thousands a year. For us, what we did in the end of last year was to say, okay, maybe let's try to get more in with end-of-line testing.
Because even if someone is manufacturing not in a very automated way, end-of-line testing, and we knew it from the tests here with the German Armed Forces. End-of-line testing for quality is something everybody is searching for. There we developed, in our point of view, a really competitive system. We try to step in with this end-of-line testing, and then afterwards, to get the customer and, to convince him to automate other topics in addition.
That's great. Thank you.
Thank you, Charlie.
Thank you very much. We're moving on to our chat questions. Could you elaborate on potential orders for humanoids?
Yeah, I mean, I would say it's for sure this is something where we try to step in. Also, yeah, because what we see there are very specific e-motors in different areas. For sure we have a focus on this and this would be a great entry for us and yeah, we are working on this topic. It's, unfortunately, it's too early to say that we are already successful in this area.
Thank you.
A little bit too early.
Okay. Thank you. The last question for now: how strong is the competition in Europe for E-mobility for your products?
Yeah. I think also this question we had several time and from time to time I have the feeling that the question is more if the Chinese are entering the European market or something like this. I think it's important to say that we are dealing with Chinese competition, I don't know, for more than 10 years, 15 years, something around this. In general, we don't see a change there. It's more the question that our customers now has to make the decisions, this is more important for us that there's always competition in automotive, we are not frightened for this. Nothing changed on this on this topic.
I mean, when we are looking at the number of competitors, I would say there is more market consolidation because there are competitors who are more under pressure than we are from the balance sheet perspective. Of course, on the price level there's always somebody fighting for their lives and that is getting a bit more hard, but that's normal in such a situation and we keep concentrated on achieving at least okay margins. We know that if the market rebounds, then it's always important to have enough capacities to execute good margin orders instead of hunting all these difficult margin orders in times where the market is softer.
Thank you very much. There are two more questions coming in. The first is a hand up from Gert-Maria Freimuth. Please unmute yourself. We are back in line. We are moving on to the chat question: why is your expected guidance for margins so much lower in 2026?
I mean, that's a mixed effect. Of course, when we see 2025 and also 2026, we lost a relevant part of our revenue, so we have more or less the more pressure coming from the operational costs of the company, administrative costs. We didn't reduce the company to the current revenue level to keep capacity left for additional growth again. One part of the margin pressure comes a little bit from our internal structures, and the other part, of course, comes from the softer market. We saw during 2025 that we had higher price pressures in the few projects which had been in the market at that point of time. The order backlog lost a bit margin quality, which is normal, while business is running a bit slower. That's the reason why we had the more conservative margin guidance in 2026.
Thank you.
For 2027, we need to have an eye on order intake 2026. This will be very relevant when making our minds on the 2027 revenue and earnings perspective.
Thank you very much. With that, ladies and gentlemen, we have come to the end of today's earnings call. Thank you very much for your interest in Aumann AG. A big thank you also to you, Sebastian and Jan-Henrik Pollitt, for your presentation and your time. Ladies and gentlemen, if you have any further questions later on, please feel free to contact investor relations. With that, I wish you all a successful day. Handing back over to Sebastian for some final remarks.
Yeah. Thank you. I hope we have shown that Aumann will also be stable in terms of profitability in 2026. Unfortunately, another challenging year in the automotive industry. Internally, we concentrate ourself on optimizing cost structure, but even more important is that we are building up new sales opportunities, as you have seen in the area of Next Automation. There we see significant potential for the company, and we are confident that the results will follow. Thank you very much for your interest, and we look forward to see you maybe at one of the next conferences.