- Annual sales increased by 80 million euros (USD 85 million) - all business areas grew
- Energy generation and transmission products already account for 11% of revenue
- Unprecedented market demand for components for energy-efficient, economical drives in the wind, e-drives, construction and agricultural machinery sectors
- Electrification creates growth - Miba has already invested 60 million euros (USD 64 mio.) in building up its eMobility business
- Financial independence creates security and is the basis for future investments
- Attractive career opportunities: Search for future shapers who want to contribute to sustainability and climate protection
The Austrian technology group Miba grew strongly again in the past 2021/22 fiscal year (Feb. 1, 2021-Jan. 31, 2022). Annual sales increased by 80 million euros (USD 85 mio.) or 9 percent to 971 million euros (USD 1,032 mio.), returning to the level seen before the start of the Corona pandemic. All business segments have grown, with the strongest growth of around 30 percent being achieved by the friction materials segment, which at 220 million euros (USD 234 mio.) contributes almost 25 percent to Miba's total sales. Miba's Power Electronics Group grew by about a quarter to annual sales of almost 70 million euros (USD 74.4 mio.). Miba's Sinter and Bearing divisions were also able to expand their business compared to the previous year. "The growth driver in the past fiscal year was once again our clear claim that Miba technologies contribute to greater energy efficiency as an important basis for sustainability and climate protection," describes CEO F. Peter Mitterbauer. "11 percent of our sales already come from products for clean energy generation and transmission - driven strongly by our growth with technologies for wind energy, for hydropower and for efficient power grids. For example, Miba offers a broad product portfolio for wind turbines and thus experienced unprecedented market demand last year. The same applies to our business with components for energy-efficient agricultural and construction machinery. And we are also utilizing many opportunities around electrification and are growing - with our battery systems and battery technologies as well as with our broad product range for drives in electric vehicles."
Miba aims to grow by 50 percent by 2027 with products for greater efficiency and sustainability along the entire energy value chain
Contributing to greater energy efficiency with Miba products in such a wide variety of end applications is at the heart of the "Miba 100" growth strategy. It was presented in spring 2021 and describes how the company intends to grow by 50 percent by the 100th anniversary of its founding in 2027 - to annual sales of 1.5 billion euros (USD 1.6 billion). Miba CEO F. Peter Mitterbauer describes how this goal is to be achieved: "We want to grow in technologically demanding niches along the entire energy value chain - in other words, with Miba products for our customers' end applications for the sustainable generation, transmission, storage and use of energy." Miba plans to invest 500 million euros (USD 532 mio.) in this growth path by 2027. Its foundation is the corporate mission "Technologies for a cleaner planet," which Mitterbauer introduced eight years ago as the basis for Miba's actions. "It gives all of us at Miba the drive and motivation to contribute to a cleaner planet, to achieving climate goals and to an even more livable world through our daily work. And it brings great opportunities for growth."
85 million euros (USD 90.3 mio.) in investments in the future in the past fiscal year alone - More than 40 million euros (USD 42.5 mio) for research and development underline innovative strength
In order to take advantage of these growth opportunities, Miba once again invested strongly in the future of the company and its employees in the past fiscal year, spending 85 million euros (USD 90.3 mio.). With more than 40 million euros (USD 42.5 mio.) spent on research and development - which corresponds to a high R&D ratio of 4.2 percent - Miba placed a strong focus on its innovative strength in its usual manner. The company holds more than 400 patents; in the previous year alone, 64 new ones were added according to an evaluation by the Austrian Patent Office. More than 300 employees work in research and development. Miba also invested heavily in new machinery, equipment and buildings in the past fiscal year, with more than 40 million euros (USD 42.5 mio). And last but not least, the company has always placed great emphasis on the training and continuing education of its employees, spending 1.6 million euros (USD 1.7 mio.) on this in the previous year alone.
Growth with solutions for electrification - 60 million euros (USD 63.8 mio.) already invested in building up the eMobility business
Miba began early to build up an extensive product portfolio for electrification - components for electric motors and electric drives, battery systems and battery components such as cooling technology, power electronics or fuse systems. Many of these products are now in series production or are about to be. "We see great opportunities not only in the automotive industry, which is expected to grow strongly again in the medium term following the current challenges in the supply chains. Municipal and commercial vehicles, motorcycles and boats or forklifts in production are also increasingly being electrified," explains Mitterbauer. Miba has therefore already invested 60 million euros (USD 63.8 mio.) in building up its eMobility business. For example, new production facilities for power resistors in eVehicles were commissioned in Styria in the past fiscal year. In Vorchdorf, the Miba eMobility team will move into a new production and office site in a few weeks. And the battery system specialist Voltlabor, in which Miba holds a stake, is building Austria's technologically leading battery production plant in Bad Leonfelden in Upper Austria on 3,900 square meters of floor space.
Equity ratio increased to 50.5 percent: Great financial independence creates security and is the basis for future investments
An important basis for Miba's growth path is its great financial independence. "Our already traditionally high equity ratio rose to 50.5 percent in the past business year," says F. Peter Mitterbauer. "This not only creates great security and stability for our customers and our employees. It is also the basis for investing strongly from our own resources in the development of new, additional markets and thus in the future of our company."
Attractive career opportunities for innovators - Search for future shapers
In order to take advantage of the many opportunities for the future, it is important for Miba to work closely with its customers to develop new, innovative technologies, bring them to production maturity and produce them. "We offer many attractive career opportunities for innovators and future shapers - people who contribute their know-how and ideas with great enthusiasm. And who are burning to make a significant contribution to sustainability and climate protection with their daily work. We offer these people what we call "A Place with Freedom to Perform": Personal responsibility and creative freedom to achieve top performance," says Miba CEO F. Peter Mitterbauer.