Mitterbauer focusing on investments, digitalization and employee qualification

In the first half of 2016–2017, Miba AG held revenue at the previous year’s level, despite the difficult situation in the capital goods markets. No significant change is in sight for the second half of the year. Nevertheless, 200 new employees were hired, and approximately 170 young people are in apprenticeships.

Miba AG’s revenue in the first half of 2016–2017 (February to July) was EUR 376.5 million (previous year: EUR 375.2 million). Earnings before interest, tax, depreciation and amortization (EBITDA) declined slightly to EUR 74 million (following EUR 76.7 million). Earnings before interest and tax (EBIT) improved to EUR 51.5 million due to the rigid cost control in all areas (following EUR 49.7 million).

Miba Chairman of the Management Board, F. Peter Mitterbauer stated: “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.” 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. Miba had 167 apprentices at mid-year. On September 1, 2016, 31 young people commenced their training at the Upper Austrian sites.

Mitterbauer on business development in the first half of the year: “Last year’s picture continues. Strong demand from the automotive sector is offset by a further weakening of the capital goods industry.” 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.

Miba continues to invest even in this challenging environment. Purchases of property, plant and equipment and intangible assets in the first half of 2016–2017 amounted to EUR 31.9 million and remained thus at the previous year’s level (EUR 32.9 million).

Group equity at the end of July was EUR 439.9 million (January 31, 2016: EUR 462.0 million). The equity ratio as of July 31, 2016 was 55.3 percent, slightly below the level on January 31, 2016 (57.2 percent).

Outlook

“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 digitalization segments.

Overview of key figures