04.05.2018
Muehlhan AG DE000A0KD0F7
DGAP-News: Muehlhan AG: Muehlhan AG publishes first quarter 2018 results
DGAP-News: Muehlhan AG / Key word(s): Quarter Results
Muehlhan AG: Muehlhan AG publishes first quarter 2018 results
04.05.2018 / 08:24
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
Muehlhan AG publishes first quarter 2018 results
- Business performance within expected range
- EUR55.9 million of sales revenues, EUR0.9 million of EBIT
Hamburg, May 4, 2018 - From January through March 2018, Muehlhan AG (Open
Market; ISIN DE000A0KD0F7) generated sales revenues of EUR55.9 million
(previous year: EUR55.8 million) and earnings before interest and taxes
(EBIT) of EUR0.9 million (previous year: EUR1.2 million). The results for
the traditionally weak first quarter are therefore within our range of
expectations. Cash flow from operating activities is negative at EUR-0.8
million (previous year: EUR4.7 million). This is mainly a result of cash
outflows in the reporting period due to previous year's damage in the
Netherlands.
A geographic review shows that sales revenues in Europe increased by EUR1.4
million to EUR42.5 million in comparison to the prior-year period. In the
Middle East, sales revenues dropped by EUR0.8 million to EUR5.1 million,
mainly due to the fact that the Emirate of Qatar is being blockaded. In
North America, sales revenues remained almost stable with EUR4.8 million in
the reporting period (previous year: EUR4.7 million). In the Rest of the
World, the business trend was slightly retrograde, with sales revenues
dropping by EUR0.6 million to EUR3.5 million.
As expected, sales revenues in the Ship business segment decreased to
EUR12.7 million, EUR1.6 million lower than in the prior year period. In the
Oil & Gas business segment, sales revenues increased to EUR18.4 million
(previous year: EUR15.1 million). Due to project-related reasons, the
Renewables business segment generated sales revenues of EUR4.5 million,
EUR3.1 million lower than in the same period last year. The
Industry/Infrastructure business was able to increase sales revenues by
EUR1.5 million to EUR20.3 million compared to the same period last year.
With stable sales revenues of approx. EUR250 million for the year 2018,
Muehlhan expects a year-on-year increase in EBIT by EUR8.5 million to EUR9.5
million.
The company's key performance indicators are shown in the following table:
In EUR million 1st quarter 1st quarter
of 2018 of 2017
Results
Sales revenues 55.9 55.8
EBITDA1 2.9 3.2
EBIT2 0.9 1.2
EBT3 0.6 0.9
Consolidated earnings after 0.3 0.3
non-controlling interests
Earnings per share from continuing in 0.02 0.02
operations EUR
Cash flow from operating activities -0.8 4.7
Investment for property, plant and 2.4 3.6
equipment
Balance sheet 31/3/2018 31/12/2017
Total assets 141.3 145.5
Fixed assets4 62.8 61.7
Equity 64.4 65.3
Equity ratio in % 45.5 44.9
Employees 31/3/2018 31/12/2017
Employees (annual average) numb- 2,884 2,929
er
1 EBITDA: Earnings before interest, taxes, depreciation and amortization
2 EBIT: Operating income (Earnings before interest and taxes)
3 EBT: Earnings before taxes
4 Fixed assets: Total non-current assets less deferred tax assets
About Muehlhan: Worldwide, 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. Muehlhan AG is a listed company and is traded on
the Open Market under ISIN DE000A0KD0F7.
For more information, visit www.muehlhan.com
Contact: Muehlhan AG; phone: +49-40-752-7115-0; e-mail:
[email protected]
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04.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a
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,
Frankfurt (Basic Board), Hamburg, Munich, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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682493 04.05.2018
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