Miba Aktiengesellschaft

EANS-Adhoc: Miba Aktiengesellschaft
1st Half-Year 2011-12: Miba still in good shape


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6-month report

09.09.2011

September 9, 2011




 1st Half-Year 2011-2012: Miba still in good shape


    - Sales increase by 38.5 percent
    - Secured substantial investments amounting to EUR 22.4 million
    - 841 new jobs created


Miba, strategic partner to the international engine and automotive industries,
continues to profit from consistently strong demand in its core markets.
Consolidated sales in the first half of 2011-2012 (February 1 to July 31)
soared by 38.5 percent over the same period last year, to EUR 281.3 million. By
contrast, earnings before taxes (EBT) in the amount of EUR 28.6 million are
only slightly higher than the previous year. The increase is only slight, yet
it is attributed to special effects, and therefore satisfactory.

The positive development in Miba´s target markets continued during the first
six months of the business year. "This business development validates our
strategy of concentrating on challenging niches, both in our core segments as
well as in our new division, the New Technologies Group. We are well on our
way," says Peter Mitterbauer, CEO of Miba. The growth in sales originates in
equal measure from organic growth and from last year´s acquisitions. Miba
Sinter Group accounted for the largest proportion of Group sales, at almost 37
percent, followed by Miba Bearing Group at 33 percent and Miba Friction Group
at 20 percent. Nine percent was attributed to New Technologies Group.

Earnings were noticeably impaired by the special effects of capacity
bottlenecks, by the high start-up costs from the integration of the friction
business acquired last year into Miba Friction Group, and by the persistent
tension between cost and supply in the international market for raw materials.
In the first half-year, Miba invested EUR 22.4 million in fixed assets in order
to build-out production capacities in all divisions (previous year: EUR 18.3
million), so that over the long term, it could satisfy consistently strong
demand. In addition to this, by the end of the business year Miba will have
expanded production areas at all Austrian sites. "We expect that in the coming
months, we will definitely feel the effects of the capacity expansions in our
earnings," says Mitterbauer.

841 new employees
As of the July 31, 2011, reporting date, Miba engaged 3,715 employees
throughout the world, with more than half of this workforce at its Austrian
sites. Compared to the prior year, this corresponds to an addition of 841
employees. This increase in job posts took place primarily at Miba´s Austrian
and Slovakian sites. In Austria, the number of employees rose by 356; of these,
154 employees came from the Styria-based companies acquired last year. In
Slovakia, 319 new job positions were created.

To meet the growing need for highly qualified employees, Miba secured the
majority of the new staff from its own ranks. Customized continuing education
plans for all employees and a comprehensive apprentice training contributed to
this effort. On September 1, 2011, 31 youths started their training at the Miba
sites in Upper Austria, which corresponds to a peak level of 124 apprentices in
training. At the Slovakian locations, Miba is currently training 21
apprentices; in autumn, an additional 15 youths will start their training at
Vráble und Dolný Kubín.


Outlook: Focus on successful integration
Miba consistently pursues its path of growth and continues to rely on the
strategy of maintaining and expanding its leading position in economically
attractive and technologically challenging market segments. The Group secures
its financial independence and autonomy through a solid financial structure and
a sustained high equity ratio of 53.8 percent (balance sheet date: 54.9
percent). "In the coming months, our focus will be placed squarely on the
successfully integration of last year´s acquisitions, and on optimizing the use
of our capacity expansions in the core business," says Mitterbauer about the
key areas in the second half of the year.

Earnings summary


|                                  |1st         |1st         |1st Half-Year|
|                                  |Half-Year   |Half-Year   |2009-10      |
|                                  |2011-12     |2010-11     |             |
|Sales (in EUR million)            |281.3       |203.1       |148.5        |
|EBT (in EUR million)              |28.6        |27.5        |1.4          |
|Investments (in EUR million)      |22.4        |18.3        |7.9          |
|Number of employees (as of July   |3,715       |2,874       |2,541        |
|31, 2011)                         |            |            |             |

end of ad-hoc-announcement

================================================================================
Miba is an international group that produces technologically advanced and
highly resilient power train components. Miba technology and longtime
experience make vehicles, trains, ships, airplanes and power stations more
powerful, efficient and environmentally friendly. Miba has around 3,700
employees, more than half of whom work at the Austrian sites. In the 2010-11
business year, sales of the listed company amounted to EUR 437.2 million with
earnings before interests and taxes (EBIT) of EUR 54.5 million.

Further inquiry note:
Press
Mag. Valerie Weixlbaumer
Corporate Communications
Tel.: +43/7613/2541-1119
mailto: valerie.weixlbaumer@miba.com

Investors/Analysts
MMag. Markus Hofer
Vice President Corporate Finance
Tel.: +43/7613/2541-1138
mailto:markus.hofer@miba.com

end of announcement                               euro adhoc 
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issuer:      Miba Aktiengesellschaft
             Dr.Mitterbauer-Straße 3
             A-4663 Laakirchen
phone:       07613/2541-0
FAX:         07613/2541-1010
mail:     info@miba.com
WWW:      www.miba.com
sector:      Industrial Components
ISIN:        AT0000734835
indexes:     Standard Market Auction
stockmarkets: official market: Wien 
language:   English
 

 

 



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