15.10.2008
Miba AG Completes Share Buyback Program- Volume bought back: 30,000 shares
- Average price: 122.95 euros
Miba AG has successfully completed its share buyback program. Between August 8, 2008 and October 15, 2008 30,000 own shares, i.e. 2.3077% of the capital stock, were bought back at an average price of 122.95 euros. In total Miba AG invested 3.7 million euros in the program.
- Average price: 122.95 euros
Miba AG has successfully completed its share buyback program. Between August 8, 2008 and October 15, 2008 30,000 own shares, i.e. 2.3077% of the capital stock, were bought back at an average price of 122.95 euros. In total Miba AG invested 3.7 million euros in the program.
11.09.2008
First Half of 2008-2009: Miba Grows Profitably- Sales up 2 percent (14 percent after adjustments), EBIT doubled
- 25.9 million euros invested
- 200 new jobs created in Austria
Miba, a strategic partner to the international engine and automotive industry, has experienced healthy growth in the first half of 2008-2009 (February 1 to July 31, 2008) despite the challenging market environment. Sales rose by 2 percent to 199.7 million euros. During the reporting period, earnings before interest and taxes (EBIT) increased from 12.0 million to 23.6 million euros in comparison to the previous year.
After adjustment for the sales loss due to disposal of the Spanish sintering plant, sales growth totaled 14 percent in the first half of the year. "This level of growth, which clearly surpasses the market as a whole, is due to our strategic positioning and concentration on technologically sophisticated products," says CEO Peter Mitterbauer. Miba profits from its focus on clearly defined market segments not only in the automotive industry but also in the non-automotive sector, which accounts for 60 percent of group sales.
The EBIT margin in the period under review was 11.8 percent. "The improvement in performance was substantially supported by the sale of the sintering plant in Spain and is a precondition for future investments and for expansion of our technology leadership," says Mitterbauer.
Capital Investment Financed from Own Funds
Investments in plants and equipment for capacity expansion in all three business areas totaled 25.9 million euros and form the basis for the continuing systematic optimization of production and logistics processes. Capital expenditures in the first six months of the year were again financed exclusively by cash flow from operations, which totaled 31.6 million euros.
The total number of employees in the Miba Group as of July 31, 2008, was 2,854. After adjustment for changes in headcount resulting from the sale of the Spanish site, this represents an increase of 14 percent or 352 employees over the previous year. Around 200 new jobs were created in Austria. A total of 1,655 employees were working there as of the end of July 2008.
Outlook
The Miba AG Management Board confirms its forecast of stable growth in fiscal year 2008- 2009 despite the rising cost of energy and raw materials and the sustained high pressure on prices that is exerted by customers. The continuous productivity increases and the optimum utilization of installed plant capacity provide the basis for ensuring a high level of operational performance by all three Miba business areas.
- 25.9 million euros invested
- 200 new jobs created in Austria
Miba, a strategic partner to the international engine and automotive industry, has experienced healthy growth in the first half of 2008-2009 (February 1 to July 31, 2008) despite the challenging market environment. Sales rose by 2 percent to 199.7 million euros. During the reporting period, earnings before interest and taxes (EBIT) increased from 12.0 million to 23.6 million euros in comparison to the previous year.
After adjustment for the sales loss due to disposal of the Spanish sintering plant, sales growth totaled 14 percent in the first half of the year. "This level of growth, which clearly surpasses the market as a whole, is due to our strategic positioning and concentration on technologically sophisticated products," says CEO Peter Mitterbauer. Miba profits from its focus on clearly defined market segments not only in the automotive industry but also in the non-automotive sector, which accounts for 60 percent of group sales.
The EBIT margin in the period under review was 11.8 percent. "The improvement in performance was substantially supported by the sale of the sintering plant in Spain and is a precondition for future investments and for expansion of our technology leadership," says Mitterbauer.
Capital Investment Financed from Own Funds
Investments in plants and equipment for capacity expansion in all three business areas totaled 25.9 million euros and form the basis for the continuing systematic optimization of production and logistics processes. Capital expenditures in the first six months of the year were again financed exclusively by cash flow from operations, which totaled 31.6 million euros.
The total number of employees in the Miba Group as of July 31, 2008, was 2,854. After adjustment for changes in headcount resulting from the sale of the Spanish site, this represents an increase of 14 percent or 352 employees over the previous year. Around 200 new jobs were created in Austria. A total of 1,655 employees were working there as of the end of July 2008.
| 1st half-year 2008-09 | 1st half-year 2007-08 | |
| Sales (in million €)/td> | 199.7 | 196.3 |
| EBIT (in million €) | 23.6 | 12.0 |
| EBT (in million €) | 22.6 | 11.4 |
| Capital expenditures (in million €) | 25.9 | 18.2 |
| Number of employees (as of July 31) | 2,854 | 2,878 |
Outlook
The Miba AG Management Board confirms its forecast of stable growth in fiscal year 2008- 2009 despite the rising cost of energy and raw materials and the sustained high pressure on prices that is exerted by customers. The continuous productivity increases and the optimum utilization of installed plant capacity provide the basis for ensuring a high level of operational performance by all three Miba business areas.
01.08.2008
Miba AG Completes Share Buyback Program- Volume bought back: 30,000 shares
- Average price: 126.82 euros
Miba AG has successfully completed its share buyback program. Between July 23, 2007 and July 31, 2008 30,000 own shares, i.e. 2.3077% of the capital stock, were bought back at an average price of 126.82 euros. In total Miba AG invested 3.8 million euros in the program.
- Average price: 126.82 euros
Miba AG has successfully completed its share buyback program. Between July 23, 2007 and July 31, 2008 30,000 own shares, i.e. 2.3077% of the capital stock, were bought back at an average price of 126.82 euros. In total Miba AG invested 3.8 million euros in the program.
18.07.2008
Miba to build new sintering plant in the United States- 16.5-million-dollar investment; 60 new jobs
- Miba technology supports the reduction of fuel consumption and emissions
The Miba Group, a strategic partner to the international engine and automotive industry, is building a new plant for sintered components in McConnelsville, Ohio. By mid-2010 the company will have invested 16.5 million U.S. dollars and created 60 new jobs. The production facility will be built next to the existing bearings plant, Miba Bearings US. Components for passenger car engines and transmissions will be produced there beginning in the second half of 2009. With its new plant, Miba is well positioned to meet the increasing demand in North America for smaller, more efficient engines and transmissions and contributes to enhanced fuel economy and CO2 reduction.
"The sharp rise in fuel prices and growing environmental awareness of U.S. consumers are making smaller and more economical cars increasingly attractive. With our technology we are now supporting our North American customers make their products more efficient, more environmentally friendly and quieter," says Michael Niedersüß, Director of Sales and Marketing for the Miba Sinter Group. Miba technology for engines and transmissions contributes to the reduction of fuel consumption and emissions by 15 to 25% compared with the vehicles currently on the road in the U.S.
The groundbreaking ceremony for Miba Sinter USA will take place later this year. The start of production is scheduled for mid-2009. In addition to the major U.S. automakers and suppliers, Miba will supply primarily European customers in North America.
- Miba technology supports the reduction of fuel consumption and emissions
The Miba Group, a strategic partner to the international engine and automotive industry, is building a new plant for sintered components in McConnelsville, Ohio. By mid-2010 the company will have invested 16.5 million U.S. dollars and created 60 new jobs. The production facility will be built next to the existing bearings plant, Miba Bearings US. Components for passenger car engines and transmissions will be produced there beginning in the second half of 2009. With its new plant, Miba is well positioned to meet the increasing demand in North America for smaller, more efficient engines and transmissions and contributes to enhanced fuel economy and CO2 reduction.
"The sharp rise in fuel prices and growing environmental awareness of U.S. consumers are making smaller and more economical cars increasingly attractive. With our technology we are now supporting our North American customers make their products more efficient, more environmentally friendly and quieter," says Michael Niedersüß, Director of Sales and Marketing for the Miba Sinter Group. Miba technology for engines and transmissions contributes to the reduction of fuel consumption and emissions by 15 to 25% compared with the vehicles currently on the road in the U.S.
The groundbreaking ceremony for Miba Sinter USA will take place later this year. The start of production is scheduled for mid-2009. In addition to the major U.S. automakers and suppliers, Miba will supply primarily European customers in North America.