• Revenue and profit up
• 300 new jobs
• High level of capital expenditure continues in 2014–2015


The upper Austrian technology group’s positive performance from the previous year continued in the first quarter of 2014–2015 (February 1 to April 30). Consolidated revenue amounted to EUR 163.5 million, which equates to an increase of EUR 10 million, or 6.5 percent, compared to the first quarter of 2013–2014. EBIT (earnings before interest and tax) amounted to EUR 19.3 million and was therefore EUR 1.5 million above the prior-year comparative.

“The economic upturn of the past few months has also been in evidence in our most important sales markets, which picked up momentum”, said Chairman of the Management Board, F. Peter Mitterbauer, when commenting on the first quarter of 2014–2015. The automotive industry and the heavy truck market in particular had performed very positively in Europe, the USA and China, with growth in these sectors compensating for weaknesses in, for example, the shipbuilding or mining markets.

In order to be prepared for further growth, Miba is focusing on extensive investment. In the first three months of the fiscal year, Miba therefore invested EUR 12.3 million in the expansion of capacity and in measures to improve productivity (previous year: EUR 8.0 million). Capital expenditure volumes for the whole year are budgeted to be at least at the same level as in the previous year (EUR 68.1 million).

300 new jobs

“We have expanded our capacity in China, the USA and Slovakia in the past year and are therefore creating globally sustainable jobs”, says Mitterbauer. “We follow our customers and manufacture our advanced high-tech components in those countries in which they are actually used”, Mitterbauer explains further.

As of the April 30, 2014, reporting date, Miba employed 4,752 members of staff globally (including agency staff), and thus 300 employees more than a year ago. Increases in staff numbers occurred mainly in China, Slovakia and Austria.

Outlook: sustainable growth outside Europe

“We expect the positive performance to continue in the next few months. The order backlog as of the quarter reporting date was the highest it’s ever been, which gives us cause for optimism”, says Mitterbauer. For the medium to long term, the Company is expecting sustainable growth which will primarily take place in China and in the USA. “That’s why we’re intensifying our activities in these regions. For further profitable growth, it’s important that the whole Group is in a strong position, but also set up efficiently”, explains Mitterbauer.

In addition to its focus on expansion, Miba is continuing to work on measures to improve efficiency and quality as well as on intensive product and technology development in all areas in order to once again move a step closer to achieving its vision of “No power train without Miba technology”.

Overview of key figures

 

	Quarter 1 2014–15	Quarter 1 2013–14	Quarter 1 2012–13	Quarter 1 2011–12
Revenue (in EUR million)	163,5	153,5	160,9	138,7
EBIT (in million EUR)	19,3	17,8	20,2	13,6
Capital expenditure (excl. financial assets) (in EUR million)	12,3	8,0	14,8	9,9
Number of employees (including agency staff)	4.752	4.451	4.403	3.870