Corporate | 30 July 2013 07:11
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Muehlhan AG / Key word(s): Half Year Results/Change in Forecast
Muehlhan ends first half of the year with small profits in a continuing difficult environment – Group profits for the first six months EUR1.0 million further to a good Q2. – Outlook downgraded due to restructuring costs in China and Qatar Hamburg, July 30, 2013 – Muehlhan AG (Entry Standard; ISIN DE000A0KD0F7) ended the first half of the year with a surplus returned to investors of EUR1.0 million (prior year: EUR0.1 million). After a difficult first quarter, Q2 brought a distinct upward trend. For the first three months of the fiscal year, the Group had recorded a deficit of approximately EUR0.4 million. In total, from January to the end of June, 2013 the Company achieved sales amounting to EUR96.2 million.
This sales revenue was primarily generated by
Europe business
. In total, at EUR77.4 million within this region, the Group increased sales by almost 6% as compared to the first half of 2012 (EUR64.6 million). This continued the trend that had already become apparent last year. With revenues of EUR9.8 million, the
North American
business of the Muehlhan Group exceeded the prior year’s results of EUR8.6 million. In the
Asia including the Middle East
region, Muehlhan was able to raise revenues from EUR8.4 million to EUR9.3 million. Results, however, remain in the deficit range because of the complex market situation in China and Qatar.
The
Ship Newbuilding
segment once more yielded to the trend that has been affecting it for years, realizing only EUR14.2 million (first half of 2012: EUR14.7 million). In the
Ship Repair
segment, last year certain large projects were responsible for excellent sales of EUR20.6 million. In the current year, sales in this area stabilized at EUR17.6 million. When adjusted for this special effect, the figures nonetheless demonstrate a slight upward trend.
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
Group Key Figures :
End of Corporate News 30.07.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Muehlhan AG | |
| Schlinckstrasse 3 | ||
| 21107 Hamburg | ||
| Germany | ||
| 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, Düsseldorf, Hamburg, München, Stuttgart; Frankfurt in Open Market (Entry Standard) | |
| End of News | DGAP News-Service |
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| 223288 30.07.2013 |