Successful Management
Miba’s goal of long-term profitable growth remains unchanged even during economically difficult times, and sustainability principles continue to form an integral part of corporate strategy. In the challenging 2009-2010 business year, Miba used own funds to finance investments in setting up or expanding new sites in strategically important markets. Under current market conditions, Miba continues to count on technological leadership and competitive cost structures, while making a solid liquidity base and a highly skilled team top priorities. In production, the company focuses on boosting productivity and making efficient use of raw materials and energy. Environmentally friendly components ensure that Miba products are future-oriented. Moreover, Miba recognized at an early stage that environment-oriented, forward-looking markets constitute an opportunity.
Growth Driven by Technology Leadership [+]
Technology Leadership is one of Miba’s core values and a key driver for our success. Our technology is in demand all around the world, and we make a vital contribution to customers' ability to innovate and stay competitive. Our products are market leaders thanks to our focus on R&D. Between 2007-2008 and 2008-2009, R&D expenditures were increased and were kept at that increased level in the 2009-2010 business year. In 2007-2008, R&D expenditures were equivalent to roughly four percent of sales; in 2009-2010, the figure was six percent. Examples of Miba innovations include new production processes, patent applications and numerous supplier awards.
Environment-oriented advances [+]
Market requirements such as improved performance, reduced emissions and legal regulations mean products must meet ever-tougher standards. Miba offers its customers products that are market leaders in cost effectiveness, quality, efficiency and eco-friendliness. Miba’s high-quality, environment-efficient technologies make a significant contribution to change in the ecological system and at the same time help drive customers’ commercial success. The pursuit of environment-friendly processes leads to new methods and technologies that help preserve the environment, reduce raw material consumption or increase efficiency.
Creating Value for our Stakeholders [+]
As an employer and investor of significant sums at all locations, we add value and contribute to economic growth and social stability. The company supports the economy of the surrounding regions through capital investment, taxes and social security contributions, thus helping maintain infrastructure. In the countries in which Miba operates, it has paid EUR 16.9 million in taxes in recent years.
In the period from 2007-2008 to 2009-2010, the retained monetary value (the difference between economic value generated and economic value distributed, as per the GRI guidelines) rose by 20 percent to EUR 32.3 million, thanks to rigorous cost management and progress in cash management.
Honest, Fair Market Participant [+]
Miba is an honest, fair market participant, and adheres to national laws and international agreements. A code of ethics covering the receiving of gifts and personal privileges, approved by the Miba Management Board during the 2007-08 business year and disseminated throughout the group, states that Miba employees must refuse gifts in excess of an agreed amount.