DGAP-News

Muehlhan AG ends first half of the year with small profits in a continuing difficult environment - Seite 2

helicopters over the North Sea, lasting for months, and the related sales
shortfall, it was possible still to record an increase.
The Industry business comprises the Bridge Coating, Passive Fire Proofing
and other surface protection services business segments.

Sales in the first half of 2013 amounted to EUR24.0 million and were thus
EUR8.9 million higher than in the same period last year; the improvement
was essentially due to increases in the Bridge Coating segment.

The Other Services Division, which consists primarily of the Steel
Construction for maritime and industrial customers and Scaffolding and
Access Services segments, was able to stabilize at a high level. Overall,
sales in this Division amounted to EUR18.1 million and were thus above the
figures for the first half of 2012 (EUR17.8 million).

Outlook
The Board is reducing its forecast for 2013 because of the one-time
expenditures in connection with the restructuring of the China and Qatar
business to earnings before interest and taxes (EBIT) of now between EUR2.0
million and EUR4.5 million.

Group Key Figures:

in kEUR                                              1st half      1st half

                                                         2013          2012

Sales                                                  96,223        89,924

EBITDA1                                                 5,007         5,013

EBIT2                                                   2,263         1,831

EBT3                                                    1,299           661

Earnings per share (in EUR)                              0.05          0.01

Consolidated earnings after non-controlling

interests                                               1,034           135

Cash flow                                               4,926         5,105

Investments for fixed assets                            3,319         2,666

Depreciation                                            2,744         3,182

in kEUR                               30.06.2013                 31.12.2012

Balance sheet total                      112,047                    113,547

Fixed assets 4                            42,783                     42,369

Equity                                    58,247                     57,761

Number of employees 5                      2,271                      2,266

1 EBITDA: Profit from operations and depreciation
2 EBIT: Profit from operations
3 EBT: Earnings before taxes
4 Fixed assets: Total of non-current assets less deferred tax assets
5 Refers to average number of employees, not the specific number as of the