By Liz Nickels
Consolidated revenue amounted to €163.5 million, an increase of €10 million, or 6.5%, compared to the first quarter of the previous year.
“The economic upturn of the past few months has also been in evidence in our most important sales markets, which picked up momentum,” said chairman of the management board, F Peter Mitterbauer.
The automotive industry and the heavy truck market in particular performed very positively in Europe, the USA and China, with growth in these sectors compensating for weaknesses in, for example, the shipbuilding or mining markets, the company said.
Increased investment
In order to be prepared for further growth, Miba is focusing on investment, spending €12.3 million to expand capacity and improve productivity (it spent €8.0 million last year). Capital expenditure volumes for the whole year are budgeted to be at least at the same level as the previous year – €68.1 million.
Miba has also expanded capacity in China, the USA and Slovakia in the past year and created more jobs. As of 30 April 2014 it employed 4,752 members of staff globally (including agency staff), 300 employees more than a year ago.
“We expect the positive performance to continue in the next few months,” said Mitterbauer. “The order backlog as of the quarter reporting date was the highest it’s ever been, which gives us cause for optimism.”
