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Muehlhan AG: Muehlhan AG publishes 2014 nine-month figures

DGAP-News: Muehlhan AG / Key word(s): 9-month figures
Muehlhan AG: Muehlhan AG publishes 2014 nine-month figures

14.11.2014 / 11:19

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PRESS RELEASE

Muehlhan AG publishes 2014 nine-month figures

- Improved sales revenues and EBIT

- Outlook reaffirmed

Hamburg, 14 November 2014 - Muehlhan AG (Entry Standard; ISIN DE000A0KD0F7)
has concluded the first three quarters of 2014 with sales revenues
amounting to EUR 165.7 million (previous year: EUR 152.5 million) and
earnings before interest and taxes (EBIT) of EUR 5.9 million (previous
year: EUR 5.0 million). Results after tax, amounting to EUR 2.2 million,
are slightly above the previous year's equivalent figure of EUR 2.1
million. These include the one-off financing costs of EUR 0.6 million
arising from the redemption of the existing bond, carried out as part of
the successful refinancing in the third quarter of 2014. A tranche of the
refinancing has been reserved for the strategic investments which already
began in the third quarter of 2014 (Q3 2014: investments in fixed assets of
EUR 4.8 million, compared to the previous year's EUR 1.1 million).

The third quarter showed pleasing operational results. These included sales
of EUR 59.0 million (previous year: EUR 56.3 million), and an EBIT of EUR
2.8 million (previous year: EUR 2.7 million).

A geographical consideration of these sales revenues and results (EBIT)
reveals a varying picture. The position in Europe has clearly improved in
this respect, with sales revenues of EUR 136.9 million, compared to the
previous year's figure of EUR 122.4 million. From an earnings standpoint,
EBIT of EUR 10.5 million likewise represented an improvement over the
previous year's figure of EUR 6.7 million. This was due to a considerable
extent to business transactions involving the North Sea oil and gas sector,
which had continued to be seriously affected in the previous year by a ban
on the flying of transport helicopters. The Group's results In North
America were meanwhile, due to the end of a major project, well below those
of the previous year, in terms of sales of EUR 13.0 million (previous year:
EUR 15.2 million) and also EBIT of - EUR 0.1 million (previous year: EUR
2.0 million). Developments in the Asia region were considerably more
positive in this respect, with sales revenues up by EUR 1.3 million to EUR
15.8 million and EBIT up by EUR 1.7 million to EUR 0.9 million; both
compared to their respective figures from the previous year. This was due