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Original-Research: MBB SE - from Quirin Privatbank Kapitalmarktgeschäft

15.05.2026 / 14:46 CET/CEST
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Classification of Quirin Privatbank Kapitalmarktgeschäft to MBB SE

Company Name: MBB SE
ISIN: DE000A0ETBQ4

Reason for the research: update
Recommendation: Buy
from: 15.05.2026
Target price: 232.20
Last rating change:
Analyst: Ralf Marinoni

Q1-26: strong increase of adj. EBITDA

MBB reported strong results for the first quarter and was able to exceed EUR
1bn in equity for the first time. We therefore confirm our Buy
recommendation. The price target, which has been lowered to EUR 232.20,
reflects in particular the decline in the share price of its flagship
holding, Friedrich Vorwerk. Due to its high net cash position, EV multiples
are extremely low.

You can download the research here:
https://eqs-cockpit.com/c/fncls.ssp?u=4eecb91f2fa4158d336ea0f868685adf
For additional information visit our website:
https://research.quirinprivatbank.de/

Contact for questions:
Quirin Privatbank AG
Institutionelles Research
Schillerstraße 20
60313 Frankfurt am Main
research@quirinprivatbank.de
https://research.quirinprivatbank.de/

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2328412 15.05.2026 CET/CEST

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