Mühlbauer Holding AG

euro adhoc: Mühlbauer Holding AG & Co.KGaA
quarterly or semiannual financial statement
'Ad-hoc message pursuant to § 15 WpHG' Positive start in new financial year - significant increase in sales and earnings

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02.05.2006

Roding, May 03, 2006 - With a 48.3% increase in sales over the same quarter of last year, the Mühlbauer technology group quoted on the Prime Standard and world-wide active system provider for the manufacture of innovative security solutions for the TECURITY market made a positive start in the new financial year.

While sales came in at EUR 37.3 million (25.2), gross profits on sales reached the expected above-average growth: With a volume of EUR 17.5 million, gross profits on sales was 62.5% up on last year's EUR 10.8 million. While the EBIT climbed YoY from EUR 2.4 million to EUR 7.9 million, earnings before taxes worth EUR 8.5 million more than tripled YoY (2.7) due to the positive trend in financial result (EUR 0.6 million, previous year EUR 0.3 million). Q1 pretax profit margin consequently showed a positive performance and amounted to 22.8% - after 10.7% in the year before. After taxes another EUR 5.6 million (1.9) can be transferred to retained earnings. This equals a ratio of earnings per share of EUR 0.39 (0.13).

Free cashflow decreased from EUR +5.3 million in the previous year to EUR +1.5 million during the reporting period. The main reasons for this is a higher degree of capital commitment for accounts receivables and scheduled advance tax payments. In the course of the increased volume of business, net working capital rose, as was to be expected, from EUR 22.9 million to EUR 29.8 million. At the end of the reporting period, the equity ratio stood at 74.6% and only remained slightly below the level of last year (76.2%).

The order books of the Mühlbauer technology company showed a positive trend during the first three months of the current reporting period: The order income in the first quarter amounted to EUR 37.8 million and was another 5.3% higher than last year's quarter (35.9). The order backlog at the end of the reporting period stood at EUR 80.8 million and was 4.7% higher than the comparable value of last year (77.2).

Backed by full order backlog at the beginning of the current financial year and the ongoing demand in Q1 for technology solutions, Mühlbauer made a successful start in the new financial year. The contract awarded in the reporting period for another ePassport project testifies to Mühlbauer's high competence in the highly sensitive market for digital security and also recommends the company to be a future partner for even more governments and public authorities. Should the expectations of many market participants be met and the actual unbalance between the trend of supply and demand for RFID Smart Labels be regulated in the second half of the year, the Mühlbauer Group see a way to continue our above-average gains in this growth market and to further enhance the volume in the company's SmartID core business owing to its comprehensive technology portfolio and its excellent position in the market. Due to the fact that Mühlbauer is specializing in particular market niches in the semiconductor industry, the company considers itselves to be optimally positioned to generate above-average profits from the general trend under the provision that the order volume in Semiconductor Related Products during the past two quarters shows consistency.

The figures in brackets represent the comparable period of last year, if not stated otherwise. Please find the complete quarterly report on the Internet at www.muehlbauer.de.

Contact and additional information: Investor Relations, Tel.: +49 (0) 9461-952-653, Fax: +49 (0) 9461-952-8520, investor-relations@muehlbauer.de, Mühlbauer Holding AG & Co. KGaA, Werner-von-Siemens-Str. 3, D-93426 Roding, www.muehlbauer.de.

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ots Originaltext: Mühlbauer Holding AG & Co.KGaA
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Hubert Forster
CFO
+49(0)9461-952-141
hubert.forster@muehlbauer.de

Branche: Machine Manufacturing
ISIN:      DE0006627201
WKN:        662720
Index:    Nemax 50, CDAX, Prime All Share, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing/prime
              standard
              Börse Berlin-Bremen / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / free trade



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