Miba Aktiengesellschaft

euro adhoc: Miba Aktiengesellschaft
quarterly or semiannual financial statement
First Quarter 2008-09: Miba Continues Profitable Growth/Organic sales growth of 20.2 percent to 102.2 million euros/Earnings before interest and taxes increase by 47 perc

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Laakirchen. Miba, strategic partner to the international engine and automotive industry, generated consolidated sales of 102.2 million euros in the first quarter of 2008-09 (reporting period: February 1 to April 30). This represents a 20.2 percent increase over the previous year in comparable terms - after adjustment for the sales loss resulting from the disposal of the Spanish site. Earnings before interest and taxes rose by 47 percent, increasing by an even greater percentage than sales.

"This increase in earnings underlines Miba´s long-term orientation towards technologically sophisticated products", says CEO Peter Mitterbauer. Earnings before interest and taxes (EBIT) for the first quarter amounted to 13.3 million euros (compared to 9 million euros in the previous year). Earnings before taxes (EBT) rose from 8.7 million to 12.8 million euros. As of April 30, 2008, the order status was at a record level of 181.8 million euros and thus 10.9 percent higher than the previous year´s figure.

In comparison to the previous year, investments (excl. financial assets) rose by 43.2 percent to 11.3 million euros. The main focus of investment in the first quarter was on the expansion of production capacity both in Austria and in Slovakia in order to meet increased demand efficiently.

1st Quarter 2008-09  1st Quarter 2007-08
Sales (in million EUR)                           102.2                 95.6
EBIT (in million EUR)                             13.3                  9.0
Investments (in million EUR)                      11.3                  7.9
Number of employees (as of April 30, 2008)       2,813                2,813

Employee headcount for the Miba group worldwide was 2,813 as of April 30, 2008.
After adjustment for changes in headcount resulting from the sale of the Spanish
site, this constitutes an increase of 14 percent or 352 employees compared to
the previous year. The increase in staff headcount took place largely at the
Austrian sites, which employed 1,632 people at the end of April 2008.

Cash flow from operations was particularly affected by the increase in
inventories and the decrease in current trade payables and amounted to 0.6
million euros in the first quarter. The equity ratio of 53.2 percent is a sign
of the economic and financial stability of the Miba Group.

Cautiously optimistic
The mood in Miba´s target markets is restrained but optimistic as regards 2008.
Miba´s order books do not yet indicate any decline in demand. The Management
Board of Miba is therefore expecting its profitable growth to continue in the
current business year, although the increases will not be as great as in the
past year.

Trends on customer markets will continue to be shaped by the prices of crude oil
and steel and by the euro/dollar exchange rate. Price pressure continues to be
high in Miba´s target markets. "Miba is meeting these challenges by continuously
increasing productivity, fully utilizing machine capacities and making
adjustment to prices for its customers", says Mitterbauer.

The interim financial report for the first quarter of 2008/09 is available on
the Miba web site www.miba.com as a PDF version. Printed versions can be
requested by e-mail info@miba.com 

The Miba Group With headquarters in Laakirchen, Upper Austria, Miba is a strategic partner and supplier of the international engine and automotive industry. At twelve sites around the world, it manufactures sintered components, engine bearings and friction materials for vehicles, trains, ships, aircraft and power plants. Miba´s products make vehicles more efficient, safer and more environmentally-friendly. The group has around 2,800 employees, approximately half of whom work at its Austrian sites in Laakirchen, Vorchdorf and Roitham. In the 2007-2008 business year, the sales of the listed company amounted to 387.7 million euros with earnings before interest and taxes (EBIT) of 27.6 million euros.

end of announcement                               euro adhoc

Further inquiry note:

Susanne Dickstein
Head of Corporate Communications
Tel.: +43/7613/2541-1117

Mag. Hannes Moser
Vice President Corporate Finance
Tel.: +43/7613/2541-1138

Branche: Industrial Components
ISIN: AT0000734835
WKN: 872002
Index: Standard Market Auction
Börsen: Wiener Börse AG / official market

Original-Content von: Miba Aktiengesellschaft, übermittelt durch news aktuell

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