Corporate | 17 May 2011 11:50
Muehlhan AG / Key word(s): Development of Sales/Miscellaneous
17.05.2011 / 11:50
Mississippi Flood puts financial target at risk
* Shipyard closed down until further notice
* Obtaining of financial targets questionable
Hamburg, 17 May 2011 - The US business of Muehlhan AG (Entry Standard; ISIN
DE000A0KD0F7) is significantly impacted by the historical Mississippi
flood. A Muehlhan site on a shipyard located at the delta in the State of
Mississippi had to be evacuated as the shipyard was closed until further
notice. Muehlhan is not expecting the shipyard to go back into operation
for the coming three months.
The closing will burden the Group result. In today's speech at the Annual
General Meeting the new Muehlhan CEO Stefan Müller-Arends has therefore
revoked the latest prognosis for current year (sales between 150 and 175
Mill. Euro, EBIT between 4 and 7 Mill. Euro). Even though he didn't want to
preclude reaching the prognosis he didn't see the Board in a position to
give any outlook for the remaining year.
About Muehlhan:
The Muehlhan Group is a global specialist in high-quality surface
protection and industrial services. Our business divisions - Ship
Newbuilding, Ship Repair, Energy, Industry and Other Services - enable us
to provide a broad range of professional services to our maritime and
industrial markets. The excellent quality of our service, our high degree
of organization, our technical expertise and almost 130 years of experience
are what set us apart.
With our workforce of around 2,300 employees at more than 30 locations
worldwide, we generated sales revenues of EUR 165.0 million in
2010. In the years to come, we will utilize our market position as a stable
foundation for further expanding our business.
Press contact: Ties Kaiser, Muehlhan AG; Tel: +49 40 75271 -156 10 640,
e-mail: kaiser@muehlhan.com
End of Corporate News
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Language: English
Company: Muehlhan AG
Schlinckstrasse 3
21107 Hamburg
Deutschland
Phone: +49 40 75271 0
Fax: +49 40 75271 130
E-mail: investorrelations@muehlhan.com
Internet: www.muehlhan.com
ISIN: DE000A0KD0F7
WKN: A0KD0F
Listed: Freiverkehr in Berlin, Hamburg, München, Stuttgart; Entry
Standard in Frankfurt
End of News DGAP News-Service
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124974 17.05.2011