Miba reports continued growth in first half 2014
September 10, 2014
Miba AG, Laakirchen, Austria, has reported that consolidated revenue is up 6.8% to €329.0 million in the first half of 2014–2015 (February 1 to July 31) compared to the same period in the previous year. EBIT (earnings before interest and tax) amounted to €41.9 million up €6.2 million on the previous year.
“Many of our sales markets performed well in recent months, which of course is also reflected in our results,” stated Chairman F Peter Mitterbauer, who has been at the helm of Miba for a year. The automotive industry and the heavy truck market in particular had performed very positively in Europe, the USA and China during the whole of the first half of the year, with growth in these sectors compensating for persistently weak demand in other areas such as the shipbuilding or mining markets.
“Geographically speaking, we are experiencing the greatest growth in the USA and in China. That’s why we have expanded our sites there in recent months,” added Mitterbauer. Miba recently doubled its production area at the sintering site in McConnelsville, OH, USA, which only opened in 2010. At the Chinese site in Suzhou, where the company’s operations comprise engine bearings, sintered components and coatings, the production area has been trebled in the past year.
“Although we are not, for example, seeing any signs of recovery in shipbuilding, mining or in the South American automotive industry, we are expecting growth to continue in the second half of the year,” stated Mitterbauer. Measures to further increase efficiency and quality are reported as ongoing in the company so as to be able to support this growth in the best possible way. “At the same time, we are working incessantly on our technology leadership. It is our clear aspiration to be able to offer our customers the most innovative and technologically demanding products in the world,” added Mitterbauer.
