Aumann (ETR:AAG) reported a weaker start to 2026 as cautious investment spending in the automotive sector weighed on revenue and orders, while management pointed to improving momentum in its diversification push through the Next Automation segment.
Chief Executive Officer Sebastian Roll and Chief Financial Officer Jan-Henrik Pollitt said the company remains profitable despite lower volumes, supported by project execution and a strong balance sheet. Aumann confirmed its full-year 2026 outlook for revenue of around EUR 160 million and an EBITDA margin of 6% to 8%.
Revenue Falls as Automotive Customers Delay Investment Decisions
“The investment environment in the automotive industry continues to be characterized by a high degree of caution and delayed decision-making,” Pollitt said, adding that the cautious spending behavior remains visible across both original equipment manufacturers and suppliers.
Revenue in the Next Automation segment was EUR 9.3 million, roughly in line with the prior year, according to Pollitt.
Despite the revenue decline, EBITDA came in at EUR 4 million, down 39% year over year, while the EBITDA margin remained in double digits at 10.8%. Pollitt said the margin reflected good project execution, including some projects performing better than expected. He also said approximately EUR 1.3 million of provisions booked at year-end were released into other operating income during the quarter.
Order Intake Drops, but Next Automation Gains Momentum
Total order intake declined 33% year over year to EUR 34.4 million, and order backlog fell to EUR 119.5 million at the end of March from EUR 173.4 million a year earlier. Management said the decline was mainly tied to weaker e-mobility demand and postponed customer decisions.
By contrast, Next Automation showed stronger commercial progress. Pollitt said order intake in the segment rose 128% year over year to EUR 19.4 million, while backlog increased 50% to EUR 57.6 million. He said the company’s sales pipeline in the segment is also growing.
Roll said the company is focusing Next Automation on growth areas beyond automotive, including aerospace, defense, clean tech and life science. He cited first 2026 orders supporting civil aircraft production ramp-ups, early orders for integrated drone assembly lines, automated solar module recycling solutions, membrane manufacturing systems for fuel cell applications, and pharma-related production solutions for skin-delivered patches and oral thin films.
“This clearly confirms that our diversification strategy is working,” Roll said.
E-Mobility Remains Challenging, but Management Sees Long-Term Demand
Roll said Aumann remains focused on e-mobility, where the company provides production solutions for electric motors, battery modules and packs, inverters and other electric drivetrain components. He said battery electric vehicle sales continued to rise in 2025, with more than 30.7 million sold worldwide, a 30% increase from 2024. Roll said China remained the largest market, while Europe grew 26% and Germany grew 43%.
During the Q&A session, Roll said Aumann still has a “significant e-mobility pipeline,” but decisions continue to be postponed. He said rising oil and fuel prices and increasing BEV sales could support renewed investment decisions over time.
Pollitt said e-mobility revenue was EUR 28 million in the quarter, down 45%, while EBITDA in the segment was EUR 3.7 million. The segment’s EBITDA margin improved to 13.3% from 12.2% in the prior-year period.
Management Discusses M&A and New Growth Areas
Aumann ended March with EUR 148 million in cash, including EUR 144 million of net cash, and an equity ratio of 68.3%. Pollitt said the balance sheet gives the company flexibility to pursue market opportunities, expand Next Automation organically and through M&A, and support shareholder participation.
In response to an analyst question about acquisition opportunities, Roll said Aumann is increasingly focused on M&A targets in Next Automation. He said the company is interested in acquiring special process capabilities in areas such as aviation, comparing the strategy to Aumann’s earlier development in e-mobility around winding technology.
Asked when Next Automation might surpass e-mobility, Roll said he hoped not too soon because he still expects e-mobility to recover. However, he said Next Automation is moving in the right direction and that the company is building its sales pipeline in new industries and product solutions.
Roll identified infrastructure, aviation, life science and pharma as promising areas. On drones, he said Aumann has developed scalable production solutions and is also seeking entry points through end-of-line testing, where he said customers are looking for quality assurance systems.
Guidance Reaffirmed Despite Margin Pressure
Management reaffirmed its 2026 guidance for revenue of about EUR 160 million and an EBITDA margin of 6% to 8%. Pollitt said the lower margin outlook compared with recent performance reflects reduced revenue, higher fixed-cost pressure and softer pricing in a slower market.
“We didn’t reduce the company to the current revenue level to keep capacity left for additional growth again,” Pollitt said. He added that the 2026 order intake will be important for assessing the company’s 2027 revenue and earnings outlook.
Roll closed the call by saying Aumann is focused on optimizing its cost structure while building new sales opportunities in Next Automation. “There we see significant potential for the company, and we are confident that the results will follow,” he said.
About Aumann (ETR:AAG)
Aumann AG manufactures and sells specialized machines and production lines for components of electric and classic drive chain systems in Europe, the United States, Canada, Mexico, China, and internationally. It operates through E-Mobility and Classic segments. The E-Mobility segment offers specialized machinery and automated production lines for the automotive industry; e-traction engines, inverters, power-on-demand units, and electronic components; and energy storage and conversion systems, such as batteries and fuel cells.
