EBIT (earnings before interest and taxes) equalled €20.2 million, which exceeds last year’s figure by €6.6 million.
“The success of the past business year continued to motivate us in the first quarter. [...] Our volume of orders remains satisfactory," said Peter Mitterbauer, chairman of the management board of the Miba Group. "However, we do note a slight drop-off in demand in certain markets.” The sales growth in the Bearing, Sinter and Friction divisions predominantly stems from organic growth. At 35%, Miba Sinter Group accounted for the largest share of consolidated sales, followed by Miba Bearing Group at 32%. Miba Friction Group contributed approximately 23% to consolidated sales. Under 8% comes from the New Technologies Group established last year.
The company predicts continued growth in 2012/2013. “We are seeing a downturn in some markets, and are cautious with projections," Mitterbauer said. "Nonetheless, we still expect further growth for the entire business year, although we do not anticipate growth rates to be as high as in the past two years. Our customers’ ordering pattern is getting increasingly volatile. The short-term nature of our industries is on the rise. So to continue on the path of growth, Miba needs a greater degree of adaptability from its management, employees and suppliers.”