09.12.2011
1st to 3rd Quarter 2011-2012: Miba continues on its successful courseGrowth in:
- Sales: + 37 percent
- Investments in fixed assets: + 56 percent
- Earnings before interest and taxes: + 22.1 percent
Miba – strategic partner to the international engine and automotive industry – continues to move forward on its path of growth. When compared to the same period last year, consolidated sales in the first three quarters of 2011-2012 (February 1 through October 31) soared by 37 percent, to EUR 429.6 million. EBIT (earnings before interest and taxes) of EUR 50.2 million was 22.1 percent higher than the comparison period for the previous year.
In Miba's core markets, the momentum of the first six months also continued unabated in the third quarter. During the first three quarters of 2011-2012, Miba substantially improved sales and earnings over the comparison period for the previous year. Close to two-thirds of this growth in sales originated from organic growth, while the remaining portion is attributed to acquisitions. Miba Sinter Group accounted for the largest proportion of Group sales, at 36 percent, followed by Miba Bearing Group at 33 percent and Miba Friction Group at 21 percent. New Technologies Group accounts for ten percent.
With consolidated sales at EUR 429.6 million, in the first nine months of the business year Miba Group nearly reached the same level for the entire 2010-2011 business year (EUR 437.2 million). “This substantiates our sales forecast of more than a half billion euros for the year 2011-2012 as a whole,” says Peter Mitterbauer, Chairman of the Management Board of Miba. Earnings before interest and taxes (EBIT) after the first three quarters totaled EUR 50.2 million (previous year: EUR 41.1 million).
In the first three quarters, Miba invested EUR 34.4 million in fixed assets that will facilitate the expansion of production capacities in all divisions (previous year: EUR 22.1 million) “These investments are already paying off. Over the past few months, we have been able to respond better, faster and with greater flexibility to the continuing heavy demand from our customers, and thus achieve a substantial earnings increase once again,” explains Mitterbauer.
3,855 employees worldwide
The Company counts on a strong core team of employees as the engine driving its success. As of the October 31, 2011 reporting date, Miba had 3,855 workers in its employ throughout the world, which is 22.5 percent higher, or 707 employees more than the previous year. The growth in job positions occurred primarily at Miba’s Austrian and Slovakian sites. Miba employs more than half of its staff in Austria.
Outlook: Continued moderate growth
“Despite the overall attenuation of global expansion and the uncertainty prevailing in the markets, we anticipate a moderate and yet certain organic growth in the fourth quarter,” says Mitterbauer. Key competitive advantages continue to be product and technology leadership, a highly qualified team and a continuously expanding international network, particularly in growth markets like China, India and Brazil. In the coming months, Miba will also invest accordingly in its technology leadership, geographic diversification and in targeted expansions of capacities.
Earnings summary
- Sales: + 37 percent
- Investments in fixed assets: + 56 percent
- Earnings before interest and taxes: + 22.1 percent
Miba – strategic partner to the international engine and automotive industry – continues to move forward on its path of growth. When compared to the same period last year, consolidated sales in the first three quarters of 2011-2012 (February 1 through October 31) soared by 37 percent, to EUR 429.6 million. EBIT (earnings before interest and taxes) of EUR 50.2 million was 22.1 percent higher than the comparison period for the previous year.
In Miba's core markets, the momentum of the first six months also continued unabated in the third quarter. During the first three quarters of 2011-2012, Miba substantially improved sales and earnings over the comparison period for the previous year. Close to two-thirds of this growth in sales originated from organic growth, while the remaining portion is attributed to acquisitions. Miba Sinter Group accounted for the largest proportion of Group sales, at 36 percent, followed by Miba Bearing Group at 33 percent and Miba Friction Group at 21 percent. New Technologies Group accounts for ten percent.
With consolidated sales at EUR 429.6 million, in the first nine months of the business year Miba Group nearly reached the same level for the entire 2010-2011 business year (EUR 437.2 million). “This substantiates our sales forecast of more than a half billion euros for the year 2011-2012 as a whole,” says Peter Mitterbauer, Chairman of the Management Board of Miba. Earnings before interest and taxes (EBIT) after the first three quarters totaled EUR 50.2 million (previous year: EUR 41.1 million).
In the first three quarters, Miba invested EUR 34.4 million in fixed assets that will facilitate the expansion of production capacities in all divisions (previous year: EUR 22.1 million) “These investments are already paying off. Over the past few months, we have been able to respond better, faster and with greater flexibility to the continuing heavy demand from our customers, and thus achieve a substantial earnings increase once again,” explains Mitterbauer.
3,855 employees worldwide
The Company counts on a strong core team of employees as the engine driving its success. As of the October 31, 2011 reporting date, Miba had 3,855 workers in its employ throughout the world, which is 22.5 percent higher, or 707 employees more than the previous year. The growth in job positions occurred primarily at Miba’s Austrian and Slovakian sites. Miba employs more than half of its staff in Austria.
Outlook: Continued moderate growth
“Despite the overall attenuation of global expansion and the uncertainty prevailing in the markets, we anticipate a moderate and yet certain organic growth in the fourth quarter,” says Mitterbauer. Key competitive advantages continue to be product and technology leadership, a highly qualified team and a continuously expanding international network, particularly in growth markets like China, India and Brazil. In the coming months, Miba will also invest accordingly in its technology leadership, geographic diversification and in targeted expansions of capacities.
Earnings summary
| Q1-Q3 2011-12 | Q1-Q3 2010-11 | Q1-Q3 2009-10 | |
| Sales (in EUR million) | 429.6 | 313.7 | 228.3 |
| EBIT (in EUR million) | 50.2 | 41.1 | 5.4 |
| Investments in fixed assets (in EUR million) | 34.4 | 22.1 | 10.8 |
| Number of employees (as of October 31, 2011) | 3,855 | 3,148 | 2,621 |
17.10.2011
Management Board of Miba AG adopts new share buyback programAt the 25th Annual General Meeting of Miba Aktiengesellschaft on July 1, 2011, shareholders
passed a resolution to authorize the Management Board of Miba AG, under section 65 (1) 8
and section 65 (1a) and (1b) of the Austrian Stock Corporation Act (AktG), to acquire
Company shares (preferred Category B shares) for an undesignated purpose, totaling no
more than 10 percent of the Company’s share capital, for a period of 30 months starting on
July 2, 2011. The resolution allows for shares to be repurchased at a share price of between
EUR 100.00 and EUR 300.00, and sets forth the buyback conditions, provided that the
Management Board publishes the resolution and the associated buyback program, including
its duration, as required by law. The trading of Company shares is excluded as a purpose of
the acquisition.
The Management Board of Miba Aktiengesellschaft resolved on October 14, 2011, to avail itself of the authority to repurchase Company shares.
Miba Aktiengesellschaft plans to fulfill its publication duties in accordance with the Stock Exchange Act and Austrian Publication Regulation of 2002 by publishing data through an informational system with Europe-wide dissemination, as defined under Stock Exchange Act section 82 (8) and through a publicly accessible page on the Internet (http://www.miba.com).
The Management Board of Miba Aktiengesellschaft resolved on October 14, 2011, to avail itself of the authority to repurchase Company shares.
| Term: | From 10/20/2011 to 1/2/2014 |
| Class of share: | Preferred share, Category B |
| Planned volume: | Up to a maximum of 30,000 shares (2.3% of share capital) of preferred Category B shares |
| Acquisition price: | Between EUR 100.00 and EUR 300.00 |
| Manner of acquisition: | Stock exchange |
| Purpose of acquisition: | Shares will be repurchased without a designated purpose, however any purpose permitted by law is approved, excluding the trading of Company shares |
| Date of authorizing resolution: | 7/1/2011 |
| Date and manner of publication of authorizing resolution: | Publication took place on 10/11/2011 in accordance with Austrian Stock Exchange Act (BörseG) section 82 (8) |
Miba Aktiengesellschaft plans to fulfill its publication duties in accordance with the Stock Exchange Act and Austrian Publication Regulation of 2002 by publishing data through an informational system with Europe-wide dissemination, as defined under Stock Exchange Act section 82 (8) and through a publicly accessible page on the Internet (http://www.miba.com).
09.09.2011
1st Half-Year 2011-2012: Miba still in good shape- Sales increase by 38.5 percent
- Secured substantial investments amounting to EUR 22.4 million
- 841 new jobs created
Miba, strategic partner to the international engine and automotive industries, continues to profit from consistently strong demand in its core markets. Consolidated sales in the first half of 2011-2012 (February 1 to July 31) soared by 38.5 percent over the same period last year, to EUR 281.3 million. By contrast, earnings before taxes (EBT) in the amount of EUR 28.6 million are only slightly higher than the previous year. The increase is only slight, yet it is attributed to special effects, and therefore satisfactory.
The positive development in Miba’s target markets continued during the first six months of the business year. “This business development validates our strategy of concentrating on challenging niches, both in our core segments as well as in our new division, the New Technologies Group. We are well on our way,” says Peter Mitterbauer, CEO of Miba. The growth in sales originates in equal measure from organic growth and from last year’s acquisitions. Miba Sinter Group accounted for the largest proportion of Group sales, at almost 37 percent, followed by Miba Bearing Group at 33 percent and Miba Friction Group at 20 percent. Nine percent was attributed to New Technologies Group.
Earnings were noticeably impaired by the special effects of capacity bottlenecks, by the high start-up costs from the integration of the friction business acquired last year into Miba Friction Group, and by the persistent tension between cost and supply in the international market for raw materials. In the first half-year, Miba invested EUR 22.4 million in fixed assets in order to build-out production capacities in all divisions (previous year: EUR 18.3 million), so that over the long term, it could satisfy consistently strong demand. In addition to this, by the end of the business year Miba will have expanded production areas at all Austrian sites. “We expect that in the coming months, we will definitely feel the effects of the capacity expansions in our earnings,” says Mitterbauer.
841 new employees
As of the July 31, 2011, reporting date, Miba engaged 3,715 employees throughout the world, with more than half of this workforce at its Austrian sites. Compared to the prior year, this corresponds to an addition of 841 employees. This increase in job posts took place primarily at Miba’s Austrian and Slovakian sites. In Austria, the number of employees rose by 356; of these, 154 employees came from the Styria-based companies acquired last year. In Slovakia, 319 new job positions were created.
To meet the growing need for highly qualified employees, Miba secured the majority of the new staff from its own ranks. Customized continuing education plans for all employees and a comprehensive apprentice training contributed to this effort. On September 1, 2011, 31 youths started their training at the Miba sites in Upper Austria, which corresponds to a peak level of 124 apprentices in training. At the Slovakian locations, Miba is currently training 21 apprentices; in autumn, an additional 15 youths will start their training at Vráble und Dolný Kubín.
Outlook: Focus on successful integration
Miba consistently pursues its path of growth and continues to rely on the strategy of maintaining and expanding its leading position in economically attractive and technologically challenging market segments. The Group secures its financial independence and autonomy through a solid financial structure and a sustained high equity ratio of 53.8 percent (balance sheet date: 54.9 percent). “In the coming months, our focus will be placed squarely on the successfully integration of last year’s acquisitions, and on optimizing the use of our capacity expansions in the core business,” says Mitterbauer about the key areas in the second half of the year.
Earnings summary
- Secured substantial investments amounting to EUR 22.4 million
- 841 new jobs created
Miba, strategic partner to the international engine and automotive industries, continues to profit from consistently strong demand in its core markets. Consolidated sales in the first half of 2011-2012 (February 1 to July 31) soared by 38.5 percent over the same period last year, to EUR 281.3 million. By contrast, earnings before taxes (EBT) in the amount of EUR 28.6 million are only slightly higher than the previous year. The increase is only slight, yet it is attributed to special effects, and therefore satisfactory.
The positive development in Miba’s target markets continued during the first six months of the business year. “This business development validates our strategy of concentrating on challenging niches, both in our core segments as well as in our new division, the New Technologies Group. We are well on our way,” says Peter Mitterbauer, CEO of Miba. The growth in sales originates in equal measure from organic growth and from last year’s acquisitions. Miba Sinter Group accounted for the largest proportion of Group sales, at almost 37 percent, followed by Miba Bearing Group at 33 percent and Miba Friction Group at 20 percent. Nine percent was attributed to New Technologies Group.
Earnings were noticeably impaired by the special effects of capacity bottlenecks, by the high start-up costs from the integration of the friction business acquired last year into Miba Friction Group, and by the persistent tension between cost and supply in the international market for raw materials. In the first half-year, Miba invested EUR 22.4 million in fixed assets in order to build-out production capacities in all divisions (previous year: EUR 18.3 million), so that over the long term, it could satisfy consistently strong demand. In addition to this, by the end of the business year Miba will have expanded production areas at all Austrian sites. “We expect that in the coming months, we will definitely feel the effects of the capacity expansions in our earnings,” says Mitterbauer.
841 new employees
As of the July 31, 2011, reporting date, Miba engaged 3,715 employees throughout the world, with more than half of this workforce at its Austrian sites. Compared to the prior year, this corresponds to an addition of 841 employees. This increase in job posts took place primarily at Miba’s Austrian and Slovakian sites. In Austria, the number of employees rose by 356; of these, 154 employees came from the Styria-based companies acquired last year. In Slovakia, 319 new job positions were created.
To meet the growing need for highly qualified employees, Miba secured the majority of the new staff from its own ranks. Customized continuing education plans for all employees and a comprehensive apprentice training contributed to this effort. On September 1, 2011, 31 youths started their training at the Miba sites in Upper Austria, which corresponds to a peak level of 124 apprentices in training. At the Slovakian locations, Miba is currently training 21 apprentices; in autumn, an additional 15 youths will start their training at Vráble und Dolný Kubín.
Outlook: Focus on successful integration
Miba consistently pursues its path of growth and continues to rely on the strategy of maintaining and expanding its leading position in economically attractive and technologically challenging market segments. The Group secures its financial independence and autonomy through a solid financial structure and a sustained high equity ratio of 53.8 percent (balance sheet date: 54.9 percent). “In the coming months, our focus will be placed squarely on the successfully integration of last year’s acquisitions, and on optimizing the use of our capacity expansions in the core business,” says Mitterbauer about the key areas in the second half of the year.
Earnings summary
| 1st Half-Year 2011-12 | 1st Half-Year 2010-11 | 1st Half-Year 2009-10 | |
| Sales (in EUR million) | 281.3 | 203.1 | 148.5 |
| EBT (in EUR million) | 28.6 | 27.5 | 1.4 |
| Investments (in EUR million) | 22.4 | 18.3 | 7.9 |
| Number of employees (as of July 31, 2011) | 3,715 | 2,874 | 2,541 |
01.07.2011
Miba Distributes EUR 7.00 Dividend per ShareThe General Meeting of Miba AG today decided to distribute a dividend of EUR 7.00
per share (previous year EUR 2.50) for the fiscal year 2010-11. Based on the share
price at the balance sheet date (January 31, 2011), this represents a dividend yield of
3.3 percent.
The 25th Annual General Meeting held on July 1, 2011 decided to distribute a dividend of EUR 7.00 per common and preferred share for the fiscal year 2010-11 (as at January 31, 2011). Miba is providing its shareholders with continuity in its dividend payment policy and a desirable return on invested capital. July 11, 2011 was set as the date of payment for the dividend.
The 25th Annual General Meeting held on July 1, 2011 decided to distribute a dividend of EUR 7.00 per common and preferred share for the fiscal year 2010-11 (as at January 31, 2011). Miba is providing its shareholders with continuity in its dividend payment policy and a desirable return on invested capital. July 11, 2011 was set as the date of payment for the dividend.