“Miba continued to perform quite well in the first three quarters despite facing an increasingly tough market environment,” said Peter Mitterbauer, CEO of the Miba Group.
The automotive industry, which accounts for approximately one-third of Miba's total sales, continued to develop at a steady overall pace.
In the first nine months of the business year, Miba invested almost €40.0 million (€34.4 million in 2011). Roughly half of the investments were directed to Miba’s locations abroad. “By making strategic investments in growth markets, we are also reinforcing our locations in Austria," Mitterbauer said. "Each euro that we invest internationally is, in fact, also a benefit to us here in Austria."
The third quarter, however, saw considerable decline, according to the company. “For the fourth quarter, we are anticipating further attenuation in all business divisions, which quite likely will last until well into the next business year,” Mitterbauer stated. For the 2012-2013 business year as a whole, Miba still expects to be able to keep up with the same level as the previous year.
Miba's previous report can be found here.