Aumovio (1K) | Buy | Exploring adjacent opportunities

Research evidence excerpt

Aumovio (1K) | Buy | Exploring adjacent opportunities

#ModelReiterated #HighConviction

This insert is part of a sector report, which is Release date: 19 June 2026

available here

Company research

Buy Aumovio

Germany | Autos & parts MCap: EUR3.9bn Country Top Picks

Target Price: EUR48.00 Change in TP: none Bloomberg: AMV0 GR Reuters: AMV0n.DE

Current Price: EUR38.70 Change in Sales: none 26E/none 27E Free float 54.0%

Avg. daily volume (EURm) 11.6 Up/downside: 24.0% Change in Adj EBIT: none 26E/none 27E

YTD abs performance -9.9%

Market data: 18 June 2026 Change in Adj. EPS: none 26E/none 27E

52-week high/low (EUR) 46.60/33.34

Exploring adjacent opportunities Price performance

Why this report?

Aumovio is assessing growth opportunities beyond its traditional automotive 48

perimeter, with defence and humanoid robotics among the areas under 46 44

review, given their overlap with the group’s capabilities in sensing, perception, 42

compute, networking, actuators, and power electronics. We expect further 40

details once the ongoing strategic review concludes, with findings due to be 3836

shared in H2. The group has already signed a contract manufacturing 34

agreement with Mentee, acquired by Mobileye in January, to support 32

Sep 25 Mar 26

humanoid production and industrial deployment from 2027. In our view, this

diversification push could also include small, targeted bolt-on acquisitions. Price Stoxx Europe 600 (rebased)

Key findings

▪Aumovio is exploring opportunities outside its core automotive business,

including defence and humanoids, although no formal decision has been made. FY to 31/12 (EUR) 12/26E 12/27E 12/28E

We would expect any potential announcements to follow the ongoing strategic Sales (m) 17,817.5 18,211.5 18,479.5

review, with conclusions due in H2.