Corporate | 14 November 2014 11:19
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Muehlhan AG / Key word(s): 9-month figures
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 to the closure in the previous year of loss-making activities in Qatar und China, as well as to the recovery, based on general improvements in the economy, of the fire-protection sector in the Middle East. In terms of business segments , the maritime divisions of Ship Newbuilding and Ship Repair delivered sales revenues of EUR 50.5 million, which were at the same level as the previous year’s EUR 50.1 million. The Energy segment generated total sales of EUR 44.1 million, compared to the previous year’s EUR 35.4 million. Clear increases were achieved in the offshore oil and gas subsegment in this respect. The Industry segment was able to deliver sales revenues of EUR 39.9 million (previous year: EUR 37.8 million). This included reduced sales revenues in the US bridge coating business, which were nevertheless more than compensated for by increased sales in the fire-protection subsegment. Sales revenues from Other services amounted to EUR 31.2 million, an increase of EUR 2.5 million with respect to the previous year’s figure (EUR 28.7 million). Scaffolding and steel construction were likewise both able to generate higher sales revenues. After taking all the influencing factors into account, the Executive Board can affirm its adjusted outlook for 2014 issued on 29 September of the same year. Earnings before interest and tax (EBIT) for 2014 are expected to total between EUR 5.0 million and EUR 7.0 million. The important company figures are included in the following table:
For more information, visit www.muehlhan.com.
14.11.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP 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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| 297250 14.11.2014 |