Corporate | 28 July 2015 07:25
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Muehlhan AG / Key word(s): Half Year Results
PRESS RELEASE Muehlhan sees increase in sales at end of first half year, earnings remain constant – Sales up 11% in first half of 2015 – Half-year EBIT of EUR3.0 million – Executive Board re-affirms earnings forecast Hamburg, July 28, 2015 – Muehlhan AG (Entry Standard; ISIN DE000A0KD0F7) ended the first six months of 2015 with net income attributable to the equity holders of EUR1.0 million (previous year: also EUR1.0 million). After reporting a loss of some EUR0.5 million in the first three months of the financial year, the Group saw a significant improvement in the second quarter, as expected. From January to the end of June 2015, the company generated total sales revenues of EUR118.4 million. EBIT reached the same level as in the previous year, at EUR3.0 million. As in the previous years, these sales revenues came largely from the company’s European business operations. Total sales for the Group amounted to EUR95.1 million, an increase of 8% on the first half of 2014 (EUR88.3 million). The Muehlhan Group’s North American operations generated revenues of EUR9.3 million, exceeding the previous year’s level EUR7.4 million. In the region covering Asia and the rest of the world , Muehlhan managed to increase revenues from EUR10.9 million to EUR14.0 million. The company Marine Service International AS (MSI), acquired in the current financial year, is included in the figures, with sales of EUR4.8 million. In the Ship segment, the growth in sales that had begun once again in 2014 continued: at EUR51.4 million, there was a higher volume of business than in the first half of 2014 (EUR43.8 million). This growth, however, is not to be interpreted as signaling a change in the trend but as the result of current major projects and gains in market share in a stagnating market that will presumably continue to change. In the Oil & Gas segment, sales increased to EUR24.2 million compared with EUR19.6 million for the equivalent period of 2014. With weaker sales in the North Sea oil and gas business, this increase came mainly from the acquisition of MSI. In the Wind Energy segment, sales climbed to EUR8.8 million (previous year: EUR7.7 million). From January to the end of June 2015, Industry and Infrastructure operations generated sales of EUR34.1 million (first six months of 2014: EUR35.4 million). In 2014, our Scottish operation Muehlhan Industrial Services Ltd. was engaged in a major project. In the current financial year, the continually growing area of passive fire protection in Europe and the Middle East has filled this revenue gap.
Outlook
The Company’s key financial indicators are shown in the following table:
About Muehlhan:
Worldwide, the Muehlhan Group is a reliable partner in industrial services and high-quality surface protection. As one of the few full-service providers, we offer our customers a broad range of services designed to meet the exacting quality standards expected in professional industrial services. Our customers benefit from our exceptional organizational skills, on-time delivery, the technical expertise that differentiates us from our competitors and our more than 130 years of experience.
Press contact: Muehlhan AG; Tel: +49 40 75271-150; E-mail: investorrelations@muehlhan.com 2015-07-28 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: | Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart; Open Market (Entry Standard) in Frankfurt | |
| End of News | DGAP News-Service |
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| 381429 2015-07-28 |