- 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.
Sales (in EUR million)
Q1-Q3 2011-12 429.6
Q1-Q3 2010-11 313.7
Q1-Q3 2009-10 228.3
EBIT (in EUR million)
Q1-Q3 2011-12 50.2
Q1-Q3 2010-11 41.1
Q1-Q3 2009-10 5.4
Investments in fixed assets
Q1-Q3 2011-12 34.4
Q1-Q3 2010-11 22.1
Q1-Q3 2009-10 10.8
Number of employees (as of October 31, 2011)
Q1-Q3 2011-12 3,855
Q1-Q3 2010-11 3,148
Q1-Q3 2009-10 2,621