By Liz Nickels
Group revenue for 2013–2014 rose year-on-year by €3.6 million to EUR 610.2 million. Earnings before interest and tax (EBIT) amounted to €70.2 million (2012–2013: €69.9 million).
Performance in the various submarkets was quite varied, with the demand trend for the global automotive industry (passenger vehicles) was above average.
Miba said that its growth was dependent on its broad range of services, including the development and production of engine bearings, sintered components, friction materials, power electronics components and special machinery. “Our versatility allows us to compensate every year for the unavoidable fluctuations in one sector by growing in other areas or by launching new products,” said Mitterbauer.
“Our business is becoming less predictable, which makes planning increasingly difficult,” he added. “At the same time, however, our customers’ demands in relation to our products and technologies, as well as our service provision, continue to increase.”
R&D investment
The company invested €96.3 million in total, 20% more than in the previous year, spending €68.1 million on the global expansion of capacity, €26.7 million on research & development and €1.5 million on training and continuing education.
In China, the production area was trebled in recent years to meet the rising demand for our components in the future. In the medium term, it is the intention to employ up to 1,000 members of staff at the Suzhou site (currently with 383 employees as of January 2014). In the USA and in Slovakia, Miba expanded its production capacity for sintered components . “With these investments, we are setting the foundation for the expected growth,” said Mitterbauer.
In the future, Miba plans to develop its global personnel offering for skilled personnel and executives and apprentice training. It also intends to develop new areas of application for Miba products. “It is our aspiration to grow globally and profitably,” said Mitterbauer.
Miba said that it is expecting further growth. China and the USA are still regarded as the markets of the future for Miba’s products and technologies, which is why the vompany is continuing to strengthen its activities in these regions.
Last July, Mitterbauer outlined his growth plans for the company.