MAX Automation SE

Latest Results (08.11.2025):

The report on MAX Automation SE’s third quarter 2025 shows a stabilisation trend as the company navigates a challenging market environment. Key financial performance indicators, including a robust increase in order intake and order backlog, alongside measures to strengthen cash flow and reduce net debt, underline the company's efforts to drive a recovery in sales and profitability during Q3 2025.

Order Intake and Backlog Growth

In Q3 2025, the company reported a notable 13.3% increase in order intake over the nine-month period, reaching EUR 264.6 million, while the order backlog grew by 11.0% to EUR 171.2 million. These improvements were driven by strong performances in packaging automation and follow-up orders in key segments like NSM + Jücker and ELWEMA.

Sales and EBITDA Performance

The MAX Group’s sales for the nine months of 2025 were EUR 246.3 million, representing a 9.8% decline compared to 9M 2024, although the third quarter showed signs of recovery following a weak first half-year. Operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) dropped to EUR 9.3 million (down from EUR 24.9 million in 9M 2024), with the EBITDA margin decreasing to 3.8% despite an improvement in Q3.

Cash Flow and Working Capital Improvements

Operating cash flow improved significantly with a reported inflow of EUR 23.6 million, a turnaround from the EUR 2.7 million outflow in the previous period. This stronger cash performance was supported by advance payments from new projects and more efficient cash management, even as the working capital declined to EUR 85.4 million.

Debt Reduction and Strategic Investments

Financial discipline is evident as the net debt, including leasing, decreased to EUR 41.8 million from EUR 58.2 million, driven by the repayment of long-term loans. Additionally, the acquisition of Pla.to GmbH supports MAX Automation SE’s strategic priorities in expanding into future-oriented sectors such as plastics recycling.