$MBB (-0,78%) or $VH2 (-4,24%)

Hello my dears,

somehow the Friedrich Vorwerk share has run away from me with an annual performance of + 222 %.

Now I have noticed that the major shareholder MBB is lagging behind with an annual performance of + 79 %. (see comparison chart )

My thinking is that MBB should benefit from Vorwerk's good order situation. And it might not be a bad idea to get in before the figures in November.

I also find the 80 % stake in DTS IT (cyber security) with sales of €99m in 2024 very exciting.

Would you like to share your assessment in the comments?

@All-in-or-nothing
@SAUgut777
@EpsEra
@Hotte1909
@topicswithhead
@Klein-Anleger1 etc.

With an increase of 286 percent since the beginning of the year, Friedrich Vorwerk is the strongest stock among all Dax, MDax and SDax shares. The plant engineering company for energy infrastructure raised its forecast again the previous day. The MBB investment group, which holds a good half of Friedrich Vorwerk's share capital, benefited from this and also raised its annual targets on Tuesday.

MBB: The 50% stake in Friedrich Vorwerk covers the entire value. Why Oddo BHF analysts rightly see room up to 235 euros!

On October 22, 2025, Friedrich Vorwerk's share price rose by a further 4% to 104 euros. Metzler raised its target to EUR 116 and expects increasing sales momentum in the coming years. This would be good for MBB because the company is being consolidated. This would also increase the sales momentum of the investment company.

The MBB share (i) still has upside potential. On October 22, 2025, Oddo BHF analysts raised their target price to €235. Where does the potential come from? Because the intrinsic value of MBB is significantly higher than the current valuation despite a typical holding discount. The calculation:

The Friedrich Vorwerk stake is worth €1.05 billion. Added to this is €317.6 million in net cash in the holding company. The listed Aumann (i) is worth a further €80 million. These three assets alone add up to just under €1.44 billion or €265 per MBB share. However, MBB is only valued at €1.032bn with 5.436m shares. This already shows the large discrepancy, which is increasing further because the cybersecurity pearl DTS (annual turnover of around €100m) is still completely unconsidered.

The Metzler analysts' assumption of accelerated sales growth at Friedrich Vorwerk is also positive for MBB's prospects in the coming years. In the TraderFox model portfolio, we are now 100% up on MBB since our entry at EUR 94.

@Dividendenopi
@Max095
@Simpson

MBB paid a rising basic dividend 15 times in a row in 2025. According to a recent report by Handelsblatt, only 10 out of around 600 German listed companies have paid their shareholders an uninterrupted dividend increase for more than 10 years. Only 2 German companies have increased their dividends for longer than MBB.

Since MBB's IPO 19 years ago, the company has never lowered its dividend. Only 13 listed companies in Germany have not lowered their dividends over a longer period of time.

TÖCHTER

Aumann @EpsEra

Aumann is a leading global supplier of innovative special machines and automated production lines with a focus on e-mobility.

The company combines innovative winding technology for the highly efficient production of electric motors with decades of automation experience. In the field of battery systems, Aumann offers a broad product portfolio ranging from solutions for battery module and battery pack assembly to coating systems for electrode production. For fuel cell production, Aumann offers innovative solutions along the entire value chain - from coating and stacking to final assembly.

Friedrich Vorwerk

Friedrich Vorwerk is a leading supplier in the field of pipeline and plant construction for gas, electricity and hydrogen applications. The company is benefiting from the increasing need for investment in the German energy infrastructure.

At the end of 2019, Friedrich Vorwerk acquired 100% of the shares in Bohlen & Doyen Bau GmbH and Bohlen & Doyen Service & Anlagentechnik GmbH. Together with Bohlen & Doyen, Friedrich Vorwerk plans to further increase its growth in the field of pipeline, cable and plant construction for gas and electricity grids.

In 2021, Friedrich Vorwerk ventured onto the stock exchange and laid the foundation for further extraordinary growth with this IPO.

DTS IT

DTS is one of the leading German providers of cyber security solutions for IT infrastructure, on premise, hybrid or from the cloud.

Delignit

Delignit is the leading German provider of ecological, hardwood-based materials and system solutions for the automotive, rail and security industries.

Hanke Tissue. @Charmin

Hanke Tissue is a leading tissue producer in Poland, whose value chain includes the production of tissue parent rolls on its own paper machines, conversion into end products such as napkins, handkerchiefs and kitchen rolls, logistics as well as the design, marketing and distribution of these products. The company is the market leader in printed napkins. The products are mainly sold in Europe.

CT Formpolster

CT Formpolster is a leading supplier of mattresses for online retailers. As a one-stop store, the company's services range from in-house development and foam production to manufacturing, packaging and drop shipping of products to the end customer.

Family business

Gert-Maria Freimuth (Deputy Chairman of the Board of Directors) and Dr. Christof Nesemeier (Executive Chairman) founded the company in 1995 and hold the majority of the share capital for the long term. We are convinced that personal commitment and continuity in management are key cornerstones of MBB's success and provide the company with reliability and identity.

Original-Research: MBB SE (from Quirin Privatbank Capital Markets): Buy

Original-Research: MBB SE (von Quirin Privatbank Kapitalmarktgeschäft): Buy

(TOLLE ROBUST QUALITY STOCK) perhaps something for star investors @Simpson

$VH2 (-4,24%)

Ad-hoc | October 21, 2025

Friedrich Vorwerk Group SE (ISIN: DE000A255F11) increased revenue in the third quarter of 2025 by 39% to € 202 million and achieved an EBITDA of € 51.3 million (previous year: € 25.3 million) with an EBITDA margin of 25.4%. In the first nine months, sales increased by 49% to € 505 million and EBITDA doubled to € 105.8 million (margin: 20.9%).

The net cash and cash equivalents increased to 111.4 million (previous year: € 30.4 million). The company recorded employee growth of 13% and has an order backlog of order backlog of € 1.1 billion.

Due to the strong performance, the Executive Board is raising its forecast for the year again:

- Sales 2025: € 650-680 million (previously € 610-650 million)

- EBITDA margin: 20-22% (previously 17.5-18.5%)

The full quarterly statement will be published on November 13, 2025.

$VH2 (-4,24%)

https://www.finanznachrichten.de/nachrichten-2025-07/66021453-berenberg-stuft-friedrich-vorwerk-auf-buy-322.htm

$VH2 (-4,24%)

WE LOVE INFRASTRUCTURE!

$VH2 (-4,24%)

According to initial projections, FRIEDRICH VORWERK will generate sales of over € 495 million in the 2024 financial year with an EBITDA margin of around 16%, thus significantly exceeding the forecast

⬆️⬆️⬆️

- GOLDMAN raises the price target for SIEMENS ENERGY from EUR 56 to EUR 60. Buy. $ENR (+1,18%)

- BARCLAYS raises the target price for MERCEDES-BENZ from EUR 48.50 to EUR 50. Underweight. $MBG (-0,76%)

- JEFFERIES upgrades SMA SOLAR from Hold to Buy and raises target price from EUR 14 to EUR 20. $S92 (-2,92%)

- GOLDMAN raises the price target for DEUTSCHE BÖRSE from EUR 226 to EUR 231. Neutral. $DB1 (-0,07%)

- BOFA upgrades BBVA from Neutral to Buy and raises target price from EUR 11 to EUR 13. $BBVA (+0,76%)

- WARBURG RESEARCH upgrades FUCHS SE from Hold to Buy. Target price EUR 50. $FPE

- GOLDMAN raises the price target for FLATEXDEGIRO from EUR 17 to EUR 18. Buy. $FTK (-1,17%)

- BERENBERG raises the target price for IBERDROLA from EUR 12.30 to EUR 14. Hold. $IBE (+0,13%)

- JEFFERIES upgrades PVA TEPLA from Hold to Buy and raises target price from EUR 12 to EUR 19. $TPE (-1,71%)

- JEFFERIES raises the price target for FRIEDRICH VORWERK from EUR 23 to EUR 30. Hold. $VH2 (-4,24%)

- JEFFERIES raises the price target for ZEAL NETWORK from EUR 45 to EUR 58. Buy. $TIMA (+1,57%)

- JEFFERIES raises the price target for ADESSO from EUR 75 to EUR 85. Hold. $ADN1 (+0,81%)

- JEFFERIES upgrades NEL from Underperform to Hold. Target price NOK 3. $NEL (-0,87%)

⬇️⬇️⬇️

- BERENBERG lowers the price target for RWE from EUR 46.50 to EUR 42. Buy. $RWE (-0,72%)

- GOLDMAN lowers target price for EON from EUR 17.50 to EUR 17. Buy. $EOAN (-0,84%)

- HAUCK AUFHÄUSER IB downgrades AIXTRON from Buy to Hold and lowers target price from EUR 26.40 to EUR 13.80. $AIXA (+3,45%)

- METZLER lowers the price target for DWS from EUR 41 to EUR 40.50. Hold. $DWS (-0,05%)

- GOLDMAN lowers the price target for ASTRAZENECA from GBP 159.55 to GBP 155.58. Buy. $AZN (+1,55%)

- TD COWEN downgrades STMICRO to Hold. Target price EUR 24.50. $STM (+0,47%)

- JPMORGAN downgrades CONSTELLATION BRANDS to Neutral. Target price USD 203. $STZ (+2,47%)

- JEFFERIES lowers the price target for DOCMORRIS from CHF 65 to CHF 39. Buy. $DOCM (-0,17%)

- JEFFERIES lowers the price target for ATOSS SOFTWARE from EUR 112 to EUR 108. Hold. $AOF (-4,04%)

- JEFFERIES lowers the price target for JENOPTIK from EUR 34 to EUR 29. Buy. $JEN (-0,94%)

- JEFFERIES lowers the price target for KONTRON from EUR 29 to EUR 27. Buy. $KTN (-0,97%)

- JEFFERIES lowers the price target for SILTRONIC from EUR 95 to EUR 90. Buy. $WAF (-4,61%)

- JEFFERIES downgrades VERBIO from Buy to Hold and lowers target price from EUR 22 to EUR 11. $VBK (-3,41%)

- JEFFERIES downgrades SGL CARBON from Buy to Hold and lowers target price from EUR 9.50 to EUR 4.40. $SGL (-0,97%)

Analyst updates, 29.10. 👇🏼

⬆️⬆️⬆️

• JEFFERIES raises the price target for SAP $SAP (-0,1%) from EUR 230 to EUR 255. Buy.
• DEUTSCHE BANK RESEARCH raises the price target for DEUTSCHE TELEKOM $DTE (-1,93%) from EUR 33 to EUR 39. Buy.
• ODDO BHF raises the target price for ALLIANZ
  SE
  $ALV (-2,01%) from EUR 288 to EUR 324. Outperform.
• ODDO BHF raises the price target for DWS
  $DWS (-0,05%) from EUR 38 to EUR 39. Neutral.
• METZLER raises the price target for LUFTHANSA $LHA (+1,66%) from EUR 5.70 to EUR 6.40. Hold.
• METZLER raises the price target for NEMETSCHEK
  $NEM (-1,38%) from EUR 89 to EUR 91. Hold.
• METZLER raises the price target for FRIEDRICH
  VORWERK $VH2 (-4,24%) from EUR 29.20 to EUR 38. Buy.
• GOLDMAN raises the price target for SYMRISE $SY1 (-1,89%) from EUR 127 to EUR 131. Neutral.

⬇️⬇️⬇️

• BOFA lowers the price target for MUNICH
  RE
  $MUV2 (-1,81%) from EUR 550 to EUR 535. Buy.
• WARBURG RESEARCH lowers the price target for WACKER
  CHEMICALS $WCH (-0,26%) from EUR 136 to EUR 133. Buy.
• WARBURG RESEARCH downgrades STEICO
  $ST5 (-1,31%) from Buy to Hold and lowers target price from EUR 42 to EUR 29.
• METZLER lowers the price target for SALZGITTER $SZG (-4,49%) from EUR 17 to EUR 15.50. Hold.
• DEUTSCHE BANK RESEARCH lowers the price target for SGL
  CARBON $SGL (-0,97%) from EUR 10.80 to EUR 10.60. Buy.
• LBBW downgrades PHILIPS $PHIA (+0,15%) from Buy to Hold and lowers target price from EUR 30 to EUR 26.
• GOLDMAN downgrades ABB
  $ABBNY (-0,77%) from Buy to Neutral. Target price CHF 52.
• UBS lowers the price target for CARL ZEISS MEDITEC $AFX (-0,05%) from EUR 71 to EUR 65. Neutral.
• JPMORGAN lowers the price target for STMICRO
  $STMPA (+0,41%) from EUR 42 to EUR 35. Overweight.

Hello dear community,

In view of the fact that there are now a lot of newcomers on the platform, I've created a graphic, typical of social media, to give you an overview of stocks that not everyone may have on their radar. It goes without saying that you can't know your way around every sector. But we have come together here in the community for a solid exchange.

But since we're here on Getquin and not on Instagram, here's some input for the inquisitive.

What do the companies do anyway?

Service providers:

On the service provider side, there are some rather atypical companies for the sector.

Here I have Friedrich Vorwerk $VH2 (-4,24%) Vinci $DG (-0,02%) , Ferrovial $FER , Bilfinger $GBF (-1,72%) and Jacobs Solutions $J (-2,19%) are listed here.

Their main focus is the background work on the properties themselves. They support the companies in planning, realization, construction and maintenance. They work decentrally in regional working groups to cover the breadth of the industry. They offer almost every service for an industrial company.

The established elite

If you want to invest in the hydrogen sector, all roads lead to the giants Linde $LIN (-1,34%) Air Products $APD (-1,13%) and Air Liquide $AI (-1,7%) . Their market power in the field of industrial gases and in today's market environment of commercial hydrogen production seems irrefutable. Their know-how in the gaseous material production segment has been tried and tested for decades and the processes are almost perfectly optimized. Each company also has its own engineering divisions, making them perfectly positioned for the future in electrolyzer development.

The established newcomers

With plenty of money in their pockets, the oil companies Shell $SHEL (-0,28%) Total $TTE (+1,01%) and BP $BP. (+0,67%) are also entering the segment. Oil is finite, but the business should not be. These companies are also experienced in dealing with hydrogen. Hydrogen is an essential component in the refinery process. In order to become less dependent on the big 3, new market areas are also being explored here. Will they be able to prove themselves?

Speculative titles

Never anything but expenses. Years of hype and yet a harsh reality hit the small fish in the shark tank surrounding the segment. Nel $NEL (-0,87%) Plug Power $PLUG (+0,3%) and Ballard $BLDP (+0,99%) are long-suffering. They have never been able to deliver even remotely profitable figures. On the contrary, things seem to be getting worse quarter after quarter. Only turnover is increasing. Can that ever be good?

Plant engineering and equipment

Of course, in a globalized world, you no longer take care of the entire value chain from A-Z. Every company specializes in its own segment. The long-term beneficiaries of the industry are therefore the equipment suppliers, because they have to develop the technical foundations for every innovation in order to survive in the vastness of globalization.

The plant manufacturers

They manufacture the physical parts for the process plants.

Examples of this are Voestalpine $VOE (-0,58%) , Atlas Copco $ATCO B or Sulzer $SUNE .

The suppliers

The transportation of substances is also part of this. Material transport in industry, but also at home, for example in water pipes, is ensured by pumps (for liquids) or compressors (for gases). Established brands here are KSB $KSB (+1,91%) , Xylem $XYL (-0,71%) , Gorrman-Rupp $GRC (+0,78%) but also as a complete supplier Chart Industries $GTLS (+0,46%) or SKF $SKF B (-1,45%) or for specialized tools Stanley B&D $SWK (-1,68%) .

Process control is also indispensable. Brands such as Siemens $SIE (-0,48%) ABB $ABBN (-0,8%) or Rockwell $ROK (+0,44%) and Parker $PH (-0,36%) have established themselves here. They not only supply the electronic equipment for the process systems. They also offer their software services as safety services so that safety in process control can always be guaranteed.

I hope I have given you a little insight into the industry and would be delighted to receive constructive feedback.

#wasserstoff
#h2
#hydrogen

Why "green" hydrogen can't live up to the hype. - Part 2

Values Community,

First of all, a big thank you that my last contribution on the subject of "hydrogen" was so well received or even sourly received.

In order to understand the context, I ask you to read part 1 as well, so that as few misunderstandings as possible occur.

https://app.getquin.com/activity/MDWIzGWvkU?lang=de&utm_source=sharing

Here again 5 reasons why the stock market values "green" hydrogen too high. Numbering follows the last post.

Please take a more speculative view. Clairvoyance is not my superpower.

6. storage medium, no energy carrier!

Contrary to the perception of many, hydrogen does not serve as an energy carrier, but as a storage medium.

Hydrogen can be produced extremely cheaply via electrolysis in the event of overproduction on the power grid. Why? The efficiency does not matter at all. The electricity is surplus anyway and is not needed anywhere else.

In fact, we would already have this surplus of electricity in Germany today. Due to the high prices, however, it is probably more lucrative to export it than to promote domestic electrolysers with it. It doesn't matter whether the electricity is generated from renewable sources or fossil fuels, and thus at least laying the foundations for a sustainable hydrogen industry. I can recommend the negative success story of the highly praised "WunH2" project in cooperation with Siemens. $SIE (-0,48%) , can be recommended. The failure should, speculatively, have a signal effect.

https://www.bundesnetzagentur.de/SharedDocs/Pressemitteilungen/DE/2023/20230104_smard.html#:~:text=Deutschland%20war%20im%20Jahr%202022,um%2051%2C1%20Prozent%20gestiegen.

7. geopolitics - finally new dependencies again.

Hydrogen should serve the general public accordingly for "everything". Heating medium, alternative fuel, chemical raw material, ...

However, nobody questions the production sites. These will not be able to take place in the temperate climate zones. Europe is also generally quite limited due to population density. This means that production sites are already being relocated to more southerly countries, such as those bordering the Mediterranean or African states. There are also concrete plans for hydrogen pipelines to Europe. Algeria, Angola, Egypt, ... These are all countries that are generally known for their legal security and economic obligations.

But what is the disadvantage, although it would of course be more efficient because of the solar intensity? We are once again becoming dependent, but in the case of an "energy turnaround" this will hit us much harder than the last time we were dependent on Russia.

None of today's investors can say in retrospect that they did not know this. $PLUG (+0,3%) are already reaping the fruits of great investments, especially in Egypt, according to one magazine, or even the German flagship company $PNE3 (-0,74%) with its involvement in South Africa.

8. safety first!

Hydrogen is probably the most dangerous gas in terms of explosiveness that could be handled. From a volume concentration of 18%, it inevitably leads to an explosion on contact with atmospheric oxygen! Furthermore, it is still flammable from 4% volume concentration.

Who wants to be around in the event of a leak from a pipe, container, motor vehicle, etc.? Volunteers? - Please don't!

Examples for the extent of such a reaction is for example the crash of the Hindenburg. Here, however, "only" a fire occurred, because the concentration of oxygen in the air was too low.

A possible solution would be the mixture with nitrogen. However, according to the risks involved, this would mean that a volume concentration ratio of approx. 95/5 would have to exist. This aspect alone again speaks in favor of the air separation giants Linde $LIN , Air Liquide $AI (-1,7%) , Air Products $APD (-1,13%) or also Nippon $4091 (+1,73%) to name a Japanese company, which would find new sales opportunities in the field of nitrogen for safety reasons.

9. storage and capacities

A topic that is very rarely addressed, but is part of every value chain - storage.

It's not as simple as people like to think: "Let's just do away with natural gas and use the existing infrastructure for hydrogen." Nonsense! Hydrogen and natural gas are fundamentally different in their makeup! Hydrogen is the element with the highest energy density, but it is also the most finely porous. This means: Hydrogen would still volatilize in existing storage facilities because the porosity, i.e. the ratio of the void volume to the total volume, of the materials is for the most part insufficient in Germany.

Hydrogen is transported and stored in liquid form. Hydrogen is compressed to 700bar and cooled in isolation at -250 degrees Celsius.

This would benefit plant manufacturers such as Sulzer $SUN (-0,34%) , Voestalpine $VOE (-0,58%) or Hexagon Composites $HEX (-2,19%) .

In context, this means that the infrastructure must first be created before we can even think about regenerative hydrogen in the future. In my contribution to Vorwerk $VH2 (-4,24%) from which I would advise against at the moment, I also explained profiteers of the infrastructure change. For example Vinci $DG (-0,02%) , Ferrovial $FER , Hochtief $HOT (-1,74%) or Strabag $STR (-3,02%) .

Realistically, it will be in Germany only in 20+ years, which for me again does not reflect the current stock market values of the H2 companies.

For the time being, I exclude the adsorption of hydrogen to solid or liquid media. From the current point of view, it does not seem to be a mass solution for the whole society.

10. mobility in individual traffic

The biggest dichotomy, with many still seeing renewable hydrogen in the race, is private individual transport.

The electric car will dominate private households and rightly so! The big disadvantage of the hydrogen car here is efficiency.

While electric cars can use electricity without further conversion and have an efficiency of between 70% and 90%, the form of energy in the hydrogen car must be converted several times.

Here, green hydrogen is produced with the help of electrolysis. For transport, this is compressed and liquefied. Only then is the vehicle refueled. The back reaction of the electrolysis now takes place by means of a fuel cell. An illustration of this can be found in the appendix.

Nevertheless, it is of course up to you to decide which fuel form you will prefer in the future, and this is in no way intended as an appeal to drive an electric car in the future. Compared to other carriers, however, it is the most sensible option in terms of efficiency.

I hereby expressly ask you to note that this is exclusively about the passenger car in this point. For reasons of resource conservation alone, I am in favor of the fuel cell as a drive system for freight transport on roads and railways, as well as in aviation and at sea.

Further energy sources and possibilities of the future power mix I will explain in further contributions.

Of course, if there is also interest, the pro-hydrogen arguments can also be brought to light in further articles. Because these outweigh without question. Nevertheless, the hype, as it is currently traded, is simply unjustified and at least 20 years too early. The stock market may trade the future, but dreaming will be punished.

Planned and already in process is:

- Why it still makes sense to invest in oil and gas producers for 30+ years.

- Waste-to-Fuel - Away with the garbage!

- Regenerative methanol production and the real opportunities for C02 reduction.