EANS-Adhoc
Mühlbauer posts new record high in sales in 2012
Sales at the highest level in history of the company higher costs of sales impact on operating income distribution of d
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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Financial Figures/Balance Sheet/annual report
20.03.2013
Roding, 20th March 2013. The Mühlbauer technology group can look
back at an intense and demanding year marked by critical scrutiny of
its own internal group processes and the systematic, future-oriented
alignment of workflows and procedures. Even though the results
produced during the reporting year may not have met expectations,
revenue did increase in spite of the many measures initiated, and the
foundation for a successful future has been laid. Based on forecast
market trends, the Mühlbauer technology group is anticipating a
further in-crease of sales and better results for the next two years
in comparison to the last year.
Sales and results. Based on the high order backlog from 2011, the
solution provider once again ramped up sales in the past year,
despite the primarily project-related decline of order income and, at
EUR 237.1 million, achieved a sales plus of EUR 23.9 million or 11.2%
year-on-year (PY: EUR 213.2 million). This represents a new record
high in the more than thirty-year history of the Group. This is a
result of the increase of sales in the business lines Cards &
TECURITY® (+10.6%) and Semiconductor Related Products (+16.6%). Only
the business line Precision Parts & System was 1.5% lower than in the
previous year due to the clouding of the global economy in the past
year and the increasing price war. The depreciations-related rise in
material costs and the higher depreciations associated with continued
investment activities resulted in significant higher cost of sales in
relation to sales. As a result, gross profit at EUR 68.9 million
clearly undershot the previous years' result (EUR 82,3 million), by
EUR 13.4 million, so that with EUR 15.6 million the operating income
achieved by the Mühlbauer technology group within the year under
review was also considerably lower year-on-year (PY: EUR 28.1
million). Taking into account a drop in financial result of EUR 0.5
million and a decline in income tax expenditure of EUR 3.6 million,
this results in earnings after tax of EUR 12.6 million (PY: EUR 22.0
million). Correspondingly, earnings per share fell from EUR 1.51 in
the previous year to EUR 0.84 in the year under review.
Cashflow. Despite the lower net income for the year, free cashflow
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