Corporate | 10 November 2016 08:18


Muehlhan AG publishes its nine-month-figures for 2016 (news with additional features)

DGAP-News: Muehlhan AG / Key word(s): 9-month figures

2016-11-10 / 08:18
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

Muehlhan AG publishes its nine-month figures for 2016

– Business growth positive, within expectations

– Sales after nine months at EUR188.9 million, EBIT at EUR5.6 million

– Executive Board confirms its sales forecast. EBIT in 2016 at the upper end of expectations

Hamburg, November 10, 2016 – Muehlhan AG (Entry Standard; ISIN DE000A0KD0F7) generated sales revenues from January to September 2016 of EUR188.9 million (previous year: EUR181.9 million) and achieved earnings before interest and taxes (EBIT) in the amount of EUR5.6 million (previous year: EUR3.9 million). Business growth is positive and within expectations. Earnings after taxes were EUR2.9 million for the period (previous year: EUR1.9 million) and include income of EUR0.2 million from the Singapore business which is currently being discontinued. The closure process was nearly completed in the third quarter of 2016.

In geographical terms, Europe showed a slight reduction in sales revenues of 2% to EUR139.4 mil-lion. Sales in America increased from EUR16.5 million to EUR20.4 million. The Middle East profited from a large passive fire protection project and was able to significantly increase sales by 79% from EUR11.7 million to EUR21.0 million. The business trend in the Rest of the World was also positive, with sales revenues increasing by EUR1.5 million to EUR8.0 million.

A breakdown by business segments shows that in the Ship segment sales declined in the January to September 2016 period due to the completion of large projects and a more selective choice of follow-up projects to EUR47.0 million (previous year period: EUR74.3 million). The Oil & Gas segment generated sales revenues of EUR44.6 million, significantly higher than the previous year’s EUR36.4 mil-lion. The Renewables segment nearly doubled its sales revenues to EUR29.1 million. The Industry/Infrastructure business also reported significant increases in sales revenues at
EUR68.2 million in the first nine months of 2016 (previous year period: EUR55.4 million).

Considering the foreseeable factors that may influence results, the Executive Board confirms its forecast for fiscal year 2016 and forecasts constant sales revenues in comparison to the previous year. EBIT is expected to be at the upper end of the range of EUR5.0 million to EUR7.0 million.

The sale of Muehlhan shares held by Syntegra to the Greverath family and to management, announced on July 4, 2016, was completed in the third quarter of 2016.

The company’s key performance indicators 1 are shown in the following table.

in EUR million 9 months 2016 9 months 2015
Results
Sales 188.9 181.9
EBITDA 2 11.6 8.9
EBIT 3 5.6 3.9
EBT 4 4.4 2.4
Consolidated earnings after non-controlling interests 1.9 1.2
Earnings per share (EUR) 0.10 0.06
Cash flow from operating activities 7.8 4.3 5
Capital expenditures 6.7 7.8
in EUR million Sept. 30, 2016 Dec. 31,2015
Balance sheet
Fixed assets 6 52.6 53.1
Equity 67.4 65.9
Equity ratio in % 48 48
Balance sheet total 138.3 137.9
Employees Sept. 30, 2016 Sept. 30, 201 5
Number of employees
(annual average) 		2,836 2,823

1 The information as of September 30, 2016 pursue to IFRS 5 due to the closing of the business segment in Singapore. The previous year’s values of the income statement and the number of employees were not adjusted.
2 EBITDA: Earnings before interest, taxes, depreciation and amortization
3 EBIT: Operating income (Earnings before interest and taxes)
4 EBT: Earnings before taxes
5 The amount was adjusted due to the changed presentation of the Group’s cash flow statement since the 2015 annual report.
6 Fixed assets: Total of non-current assets less deferred tax assets

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.
We have an established market presence in the four business segments in which we operate: Ship, Renewables, Oil & Gas and Industry/Infrastructure. With our workforce of more than 2,800 employees at over 30 locations worldwide, we generated sales revenues of EUR239 million in 2015. We intend to use this stable foundation to further expand our business in the coming years and to continue moving our Group forward through proximity to our customers in the global market.

For more information, visit www.muehlhan.com.
Press contact: Muehlhan AG; Tel.: +49 40 75271-150; e-mail: investorrelations@muehlhan.c om

Additional features:

Document: http://n.eqs.com/c/fncls.ssp?u=QPPURYKDIL
Document title: Press release: Muehlhan AG publishes its nine-month figures for 2016

2016-11-10 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.

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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, Tradegate Exchange; Open Market (Entry Standard) in Frankfurt
End of News DGAP News Service

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