EBIT equalled €17.8 million, which was below the previous year’s figure by €2.4 million.
“Through our broad product portfolio for various end applications – like passenger vehicles, trucks, construction equipment, ships and aircraft – and our global network, we can reduce market risks and, fortunately, better compensate for downturns in individual industries,” said Peter Mitterbauer, chairman of the management board.
In the first three months of the business year, Miba invested almost €8 million (previous year: €14.8 million). These investments went into capacity expansions and measures to improve productivity at all sites. The investment volume for the year as a whole is planned to be kept at least at the same level as in the previous year (€51 million).
“Our focus on financial independence, which we have additionally strengthened through the issuance of the corporate bond in 2012, pays off particularly in economically difficult situations," Mitterbauer added "Nonetheless, we are flexible enough to be able to invest in the further growth of Miba."
Miba will therefore not rely on further growth for the 2013–2014 business year as a whole, but instead expect a noticeable recovery in the longer term, particularly in the USA and China. The company will invest more than €30 million in additional production capacities at a site in China over the next few years. In the USA, the company is preparing for another major order from the North American construction equipment industry. Investments are also planned for sites in Austria.
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