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Abonner Mühlbauer Holding AG

Mühlbauer Holding AG

EANS-Adhoc: Mühlbauer Holding AG & Co.KGaA
All time high in order backlog due to high level of order growth in all business areas - marked sales and earnings increase expected as of Q2 2010

  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.
3-month report
27.04.2010
Roding, 27 April 2010 - Based on an increase in orders in all 
business areas and a large-scale order in Cards & TECURITY® placed 
during the reporting period, in Q1 the globally active Mühlbauer 
technology group kicked off the 2010 financial year extremely 
positively with the highest order income in the history of the 
company. While sales and earnings have not yet benefited from this 
good development - as expected - the strong rise in order backlog to 
the end of the reporting period, borne in equal share by the robust 
government business and the significant increase in the industry 
business, is fueling expectations of a distinct rise in sale and 
earnings growth as of the second quarter.
In Q1 2010 sales of the Mühlbauer technology group were 22.8% lower 
year-on-year, at EUR 29.4 million (PY: EUR 38.1 million) due to the 
recession-related slump in the industry business and project-related 
order fluctuations in the government business of the previous months,
while - taking into account a special effect from the discontinuation
of liabilities of EUR 2.0 million in connection with the settlement 
of patent disputes - EBIT at EUR 1.8 million was, largely due to the 
lower level of sales and comparatively higher manufacturing costs, 
23.4% lower than comparable value of the previous year (EUR 2.4 
million), which was affected by a special effect from the formation 
of such obligations at a level of EUR 1.0 million. This corresponds 
to a virtually stable year-on-year EBIT margin of 6.2% (PY: 6.3%). 
Taking into consideration a slightly improved financial result of EUR
+0.7 million (PY: EUR +0.5 million) and a tax income of EUR 0.2 
million posted in the reporting period (against expenses of EUR 0.6 
million for the same period of the previous year), the Group achieved
net earnings for the period under review of EUR 2.1 million - against
EUR 1.8 million year-on-year. At the same time, earnings per share 
rose to EUR 0.14 (PY: EUR 0.12).
In the first three months of the current financial year, at EUR +7.7 
million (PY: EUR +2.7 million) cashflow from operating activities 
significantly exceeded the level for the same period of the previous 
year, due largely to cashflow of EUR 1.8 million from the disposal of
short-term securities. In the previous year this value was impacted 
by a balance of payments of EUR 3.4 million from the acquisition and 
the disposal of such securities. Taking into consideration the 
outflow from investment activities of EUR 4.6 million, which was 
markedly lower than in the previous year (PY: EUR 6.4 million) and 
the reduction of trade accounts receivable, the technology group 
achieved a free cashflow of EUR +1.3 million in the quarter under 
review, which is EUR 1.7 million higher year-on-year (PY: EUR-0.4 
million). Shareholders` equity dropped slightly, from 77.9% to the 
end of the year to 77.4% to the end of the first quarter.
With a consolidated order income of EUR 113.9 million, Mühlbauer more
than doubled the comparatively high value of the previous year (PY: 
EUR 52.2 million) and achieved growth of 118.2%. The company´s core 
area Cards & TECURITY®, which benefited from a large-scale order 
worth EUR 64.2 million, was the greatest contributor to order income 
and recorded an increase of 124.6% to EUR 91.2 million (PY: EUR 40.6 
million). Moreover, order volumes in the business areas Semiconductor
Related Products and Traceability doubled as a result of the 
increased investment activities on the respective markets. Thus, 
order income in Semiconductor Related Products climbed to EUR 15.2 
million (PY: EUR 7.6 million) due to the greater demand for both 
semiconductor backend and Smart Label systems, while Traceability 
exceeded the value for the same period of the previous year by 
112.5%, at EUR 1.7 million (PY: EUR 0.8 million). Even in Precision 
Parts & Systems, the gradually increasing propensity to invest and 
the measures for the reinforcement of sales activities introduced in 
the previous year have produced results leading to a significant 
increase of order income: year-on-year, order income rose by 81.3% to
EUR 5.8 million (PY: EUR 3.2 million). To the end of the first 
quarter the order backlog of the globally active technology group 
totaled EUR 154.6 million (PY: EUR 94.7 million), which is 63.3% 
higher year-on-year.
Although the government-related project business can naturally be 
subject to fluctuations and it cannot be fully excluded - 
irrespective of the recent recovery in industry business - that the 
observed positive development may not prove sustainable against the 
background of the latent risk of a permanent economic recovery, the 
technology group confirms its outlook for the whole of the year of 
bringing about a year-on-year sales and earnings increase, as a 
result of the considerable order growth and the continued positive 
trend in its core area Cards & TECURITY®.
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.
end of announcement                               euro adhoc

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, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade

Plus de actualités: Mühlbauer Holding AG
Plus de actualités: Mühlbauer Holding AG