Miba reports stable revenue and earnings in first half figures

September 7, 2016

Miba AG, headquartered in Laakirchen, Austria, has reported that revenue in the first half of 2016-2017 (February to July) was EUR 376.5 million, compared with EUR 375.2 million in the previous year. Earnings before interest, tax, depreciation and amortisation (EBITDA) declined slightly to EUR 74 million (from EUR 76.7 million). Earnings before interest and tax (EBIT) improved to EUR 51.5 million from EUR 49.7 million in the previous year.

“Last year’s picture continues. Strong demand from the automotive sector is offset by a further weakening of the capital goods industry,” stated Miba Chairman of the Management Board, F. Peter Mitterbauer.

Miba benefited from positive developments in the automotive industry in all regions. At the same time, the demand for construction machinery and mining equipment, tractors, compressors, ships and locomotives declined further. The sole positive exception in these sectors was the truck markets in Europe and China.

“Irrespective of the flat growth in one sector, we are well equipped for the future and are therefore continuing to focus on jobs and training,” stated Miba Chairman of the Management Board, F. Peter Mitterbauer. As of the July 31, 2016 reporting date, the Miba Group had 5,583 employees worldwide, including agency staff, which corresponds to an increase of just under 200 employees compared to the previous year.

“Over the short and mid-term, we expect stable growth in the automotive industry in almost all regions. For the capital goods markets, however, we do not see any improvement in the situation until 2017. We are actually afraid that the situation in these markets could again deteriorate slightly,” Mitterbauer estimates the development of demand. In order to continue its success over the long term, in addition to its established lines of business, Miba is focusing on developments in the e-mobility and digitalisation segments.

www.miba.com

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