Mühlbauer Holding AG

EANS-Adhoc: Mühlbauer Holding AG & Co.KGaA
Strong core business generates an increase in order income in Q3 - Outlook for the total year adjusted due to special effects affecting earnings and the cyclical weakness in demand of the industry business

-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 9-month report 29.10.2009 Roding, 29 October 2009 - In Q3 2009, the globally active Mühlbauer technology group, quoted on the Prime standard, continued to benefit from its equally attractive and advantageous business model in its core business area Cards & TECURITY®, and increased order income and sales significantly in this area year-on-year. At the same time, the technology leader exceeded the consolidated order income of the same quarter of the previous year and virtually compensated the economy-related sales decline in the industry business. While Mühlbauer achieved sales of EUR 41.7 million (PY: EUR 43.1 million) in Q3 2009, earnings before interest and taxes (EBIT), which amounted to EUR 4.2 million, adjusted for special effect from further net allocations to provisions for legal fees in connection with patent infringement suits that do not impact liquidity was 6.7% lower than the EBIT for the same period of the previous year (EUR 4.5 million), which was also adjusted due to such special effect. In relation to sales, the adjusted EBIT margin was thus 10.1%, after adjusted 10.4% in the same period of the previous year. Including the above mentioned special effect, the EBIT achieved during the reporting period totals EUR 2.4 million (PY: EUR 1.5 million), whereas higher risk provisions of EUR 1.0 million made with regard to future usability of individual development results in the reporting period had additionally negative effects to the earnings. Taking into account the financial result, which improved slightly year-on-year by EUR 0.1 million and a considerably higher tax rate of 27.0% against the same quarter of the previous year (12.3%), the increase of which is primarily due to the value adjustment in respect of capitalized deferred taxes on loss carryovers of EUR 0.5 million effecting during the reporting period, net earnings for the period under review amounted to EUR 1.8 million (PY: EUR 1.3 million). This corresponds to earnings per share of EUR 0.12 (PY: EUR 0.09). On a nine month comparison, sales totaled EUR 123.0 million (PY: EUR 130.6 million) and the EBIT achieved, taking into account all special effects affecting earnings, amounted to EUR 7.5 million (PY: EUR 16.1 million). Earnings per share thus dropped from EUR 0.87 to EUR 0.36. While the free cashflow of EUR +7.9 million, achieved alone in the quarter under review, ensured a significant increase of net liquidity to EUR 25.2 million, the nine month comparison of cashflow from operating activities was significantly higher year-on-year at EUR +35.3 million (PY: EUR 16.4 million). This is largely due to higher net inflows from the acquisition and disposal of short-term securities and a further optimization of working capital. Taking into account the higher investments in fixed assets for the completion of the new technology centers in the USA and Slovakia effected in the first half of the year, free cashflow was EUR 1.1 million lower year-on-year, at EUR +3.2 million (PY: EUR +4.3 million). The equity ratio declined slightly, from 77.5% to 75.1%, due primarily to the dividend payment to shareholders in Q2 2009 and the distribution of profits to the personally liable shareholder effected in parallel. Based on the increase of orders in the core area Cards & TECURITY® and in Semiconductor Related Products order income of the Mühlbauer technology group rose 10.6%, to EUR 44.8 million in Q3 2009 (PY: EUR 40.5 million). On a nine-month comparison order income amounted to EUR 128.1 million (PY: EUR 142.9 million) so that the discrepancy to the same period of the previous year declined to -10.4%. To the end of the reporting period the order backlog recorded a 4.6% increase, totaling EUR 82.4 million (PY: EUR 78.8 million). For the remaining financial year, Mühlbauer anticipates a perpetuation of the positive trend, particularly in the TECURITY® area, while the industry business, which is slack as a result of the current economic trend, is providing only minor stimuli, the sustainability of which cannot as yet be estimated. Even though the company thus no longer expects to achieve its ambitious goal for the overall financial year of retaining the same level of sales and earnings as in the previous financial year - against the background of the recovery trend in the industry-related sectors that is affected by economic risk and the special effects affecting earnings reported in the year under review - Mühlbauer considers itself excellently positioned to benefit strongly from an acceleration in demand. Contact and additional information: Investor Relations, Tilo Rosenberger, Tel.: +49 (0) 9461-952-1653, Fax: +49 (0) 9461-952-8520, investor-relations@muehlbauer.de, Mühlbauer Holding AG & Co. KGaA, Josef-Mühlbauer-Platz 1, 93426 Roding, Germany, www.muehlbauer.de. Ende der Mitteilung euro adhoc -------------------------------------------------------------------------------- ots Originaltext: Mühlbauer Holding AG & Co.KGaA Im Internet recherchierbar: http://www.presseportal.ch Further inquiry note: Hubert Forster CFO +49(0)9461-952-1141 hubert.forster@muehlbauer.de Branche: Machine Manufacturing ISIN: DE0006627201 WKN: 662720 Index: CDAX, Prime All Share, Technologie All Share Börsen: Frankfurt / regulated dealing/prime standard Berlin / free trade Hamburg / free trade Stuttgart / free trade Düsseldorf / free trade München / free trade

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