DGAP-News

Muehlhan AG: First quarter results of 2016 (news with additional features)

DGAP-News: Muehlhan AG / Key word(s): Quarter Results
Muehlhan AG: First quarter results of 2016 (news with additional features)

06.05.2016 / 10:02
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

PRESS RELEASE

Muehlhan AG publishes results for first quarter of 2016

- Business development in the context of forecasts

- Sales total EUR59.3 million, with EBIT of EUR1.1 million.

Hamburg (Germany), 6th May 2016 - Muehlhan AG (Entry Standard; ISIN
DE000A0KD0F7) achieved sales revenues amounting to EUR59.3 million
(previous year: EUR55.3 million) between January and March 2016, with
earnings before interest and taxes (EBIT) of EUR1.1 million (previous year:
EUR -0.1 million). Earnings after taxes were EUR0.5 million (previous year:
EUR -0.3 million). The results for a usually rather weak first quarter
therefore exceeded expectations. These quarterly results were affected by
the closure process of the activities in Singapore. Sales revenues there
came to EUR0.5 million, with EBIT and after-tax earnings of EUR0.2 million;
the latter influenced by the disposal of assets in the course of closure.

In geographical terms, Europe has suffered a 4% decline in sales from
EUR45.7 million to EUR43.9 million. Sales in America increased from EUR4
million to EUR5.7 million. The Middle East benefited from the growing
demand for passive fire protection, and was able to more than double sales
from EUR2.5 million to EUR5.8 million. Business in the Rest of world
likewise saw positive developments, with a growth in sales revenues from
EUR3.1 million to EUR3.9 million.

A breakdown by business field reveals a reduction of revenues in the Ship
segment to EUR17 million (previous year: EUR25.4 million) as a consequence
of the completion of large projects. The remaining business segments were
able to increase their sales. In the area of Oil & Gas, the group achieved
sales of EUR17.3 million, which significantly exceeded the previous year's
EUR12 million. The Renewables segment managed to double its sales to EUR7.7
million. Industry/Infrastructure activities likewise saw increased sales in
the first quarter of 2016, achieving a figure of EUR17.3 million (previous
year: EUR14.1 million).

Consistent sales and EBIT of between EUR5 million and EUR7 million are
still expected for the year 2016.
The company's key performance indicators are shown in the following table.
Due to reasons of materiality no separation of the figures by continuing