31.03.2017
Muehlhan AG DE000A0KD0F7
DGAP-News: Muehlhan AG: Muehlhan AG publishes results for fiscal year 2016
DGAP-News: Muehlhan AG / Key word(s): Final Results
Muehlhan AG: Muehlhan AG publishes results for fiscal year 2016
31.03.2017 / 08:53
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
Muehlhan AG publishes results for fiscal year 2016
- Group successfully continued its process of transformation
- EUR254.3 million of sales revenues and EUR6.9 million of EBIT at upper end
of expectations
- Dividend of EUR0.06 per share is proposed
Hamburg, 31 March 2017 - In 2016, Muehlhan AG (Entry Standard; ISIN
DE000A0KD0F7) successfully proceeded with its transformation process and was
able to maintain the upward trend of recent years that was interrupted in
2015. While sales revenues increased 6.4% to EUR254.3 mil-lion, EBIT jumped
32% to EUR6.9 million and consolidated net income rose 35% to EUR2.8
million.
On a geographic basis, sales revenues in Europe declined 1% year on year to
EUR186.2 million. By contrast, EBIT increased by EUR1.8 million to EUR4.9
million. In the Middle East, Muehlhan benefited from passive fire protection
projects and scaffolding projects and managed to boost sales revenues by a
substantial amount (EUR13.1 million) to EUR29.9 million. Because of special
effects, EBIT dropped to EUR0.5 million (previous year: EUR1.7 million). In
North America, a major project caused sales revenues and EBIT to increase to
EUR26.8 million and EUR1.3 million, respectively (previous year:
EUR23.1 million and EUR0.4 million, respectively). The business trend in the
Rest of the World was also positive, with EUR11.4 million of sales revenues
and EUR1.6 million of EBIT.
In the Ship business segment, sales revenues decreased, as expected, from
EUR82.9 million in the previous year to EUR63.5 million. Thanks to various
measures, EBIT increased from EUR3.8 million to EUR5.0 million. Despite a
tough market environment, the Oil & Gas business segment managed to increase
sales by EUR10.2 million to EUR63.2 million and EBIT by EUR2.3 million to
EUR6.5 million. In the Renewables business segment, sales revenues rose to
EUR34.0 million (previous year: EUR23.7 million), but project losses caused
EBIT to stagnate at EUR -2.5 million. These projects were completed in the
year under review. Although major projects in the Industry/Infrastructure
segment boosted sales revenues by EUR14.3 million to EUR93.6 million,
special effects caused EBIT to decrease by EUR0.9 million to EUR3.3 million.
With the Supervisory Board's agreement, the Executive Board will recommend
to the Annual General Meeting that a dividend of EUR0.06 per share be
distributed for fiscal year 2016 (previous year: EUR0.04 per share).
Muehlhan is confident that the Group's upward trend will continue in the
future, despite the difficult conditions that still prevail in some markets.
Expanding our service portfolio in different markets will also contribute to
this trend. Muehlhan expects again profitability to improve in 2017. The
company expects sales revenues to remain constant at around EUR250 million,
with EBIT increasing slightly to between EUR6.5 million and EUR8.5 million.
For additional information on fiscal year 2016 and details on the outlook
for 2017, please consult the Muehlhan Annual Report published on 31 March
2017.
The company's key performance indicators are shown in the following table:
In EUR million 2016 2015
Results
Sales revenues 254.3 239.0
EBITDA1 14.2 12.0
EBIT2 6.9 5.2
EBT3 5.4 3.3
Consolidated earnings after non-controlling interests 2.0 1.4
Earnings per share from continuing operations (in EUR) 0.09 0.05
Cash flow from operating activities 8.9 12.7
Capital expenditures for fixed assets 9.2 10.8
In EUR million 31.12.2016 31.12.2015
Balance sheet
Balance sheet total 146.5 137.9
Fixed assets4 53.7 53.1
Group equity 68.1 65.9
Equity ratio in % 46.5 47.8
Employees 2016 2015
Number of employees 2,881 2,844
(annual average)
1 EBITDA: Earnings before interest, taxes, depreciation and amortization
2 EBIT: Earnings before interest and taxes
3 EBT: Earnings before taxes
4 Fixed assets: Total of non-current assets less deferred tax assets
About Muehlhan: Worldwide, the Muehlhan Group is a reliable partner in
industrial services and high-quality surface protection. As one of the few
full-service providers, we offer our customers a broad range of services
designed to meet the exacting quality standards expected in professional
industrial services. Our customers benefit from our exceptional
organizational skills, on-time delivery, the technical expertise that
differentiates us from our competitors and our more than 130 years of
experience.
We have an established market presence in the four business segments in
which we operate: Ship, Renewables, Oil & Gas and Industry/Infrastructure.
With our workforce of more than 2,800 employees at over 30 locations
worldwide, we generated sales revenues of EUR239 million in 2015. We intend
to use this stable foundation to further expand our business in the coming
years and to continue moving our Group forward through proximity to our
customers in the global market.
For more information, visit www.muehlhan.com
Press contact: Muehlhan AG; Tel.: +49 40 75271-150; e-mail:
[email protected]
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service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Muehlhan AG
Schlinckstrasse 3
21107 Hamburg
Germany
Phone: +49 40 75271 0
Fax: +49 40 75271 130
E-mail: [email protected]
Internet: www.muehlhan.com
ISIN: DE000A0KD0F7
WKN: A0KD0F
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart, Tradegate Exchange; Open
Market (Basic Board) in Frankfurt
End of News DGAP News Service
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