Miba reports continued growth as revenue exceeds €985 million
May 8, 2019
Miba AG, Laakirchen, Austria, has reported strong growth in its fiscal year 2018–2019 (February 1, 2018 to January 31, 2019). Revenue has increased 11% year on year to €985 million, which positions the group closer to its revenue target of €1 billion set out in the Miba 2020 – Dynamic Evolution strategy.
According to the group, its annual revenue has more than doubled since 2010, rising by over half a billion euros. “The past fiscal year saw challenging market conditions in the automotive segment and showed once again that, with its very broad product portfolio and its focus on a number of regional markets, Miba is very well prepared to manage volatility in individual market segments,” stated F Peter Mitterbauer, CEO of Miba AG.
The group has reportedly invested €87 million in property, plant and equipment and intangible assets and €41 million in research and development. “By investing in our plants, in research and development and in our employees’ expertise, we are creating the basis for our further growth,” continued Mitterbauer. “Thanks to our financial stability and our independence as a family-owned company, we are best placed to invest over the long-term and with a steady hand. This enables us to safeguard existing jobs and create new ones.”
Miba states that it is in the process of building three new plants in China and India, in order to accommodate growth in Asia. It is also expected to build an eMobility Cluster in Austria, where the Group’s expertise from electrification and the automotive sector will be integrated. The company has reportedly created over 1,100 additional jobs in Austria since 2010. “In Vorchdorf, we are planning to build additional capacity for the e-mobility business,” added Mitterbauer. “By doing so, we are maintaining our strategy of investing heavily in Austria as well as growing globally.”