28.10.2022 Muehlhan AG  DE000A0KD0F7

EQS-News: Muehlhan AG: Muehlhan AG publishes results for first nine months of 2022


 

EQS-News: Muehlhan AG / Key word(s): 9 Month figures
Muehlhan AG: Muehlhan AG publishes results for first nine months of 2022

28.10.2022 / 07:35 CET/CEST
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

 

Muehlhan AG publishes results for first nine months of 2022

  • Performance within expected range
  • Revenues of €203.8 million, operating EBIT of €8.0 million
  • Forecast for the 2022 financial year adjusted slightly

Hamburg, October 28, 2022—From January through September 2022, Muehlhan AG (Open Market; ISIN DE000A0KD0F7) generated revenues of €203.8 million (previous year: €225.3 million) and earnings before interest and taxes (EBIT) of €9.3 million (previous year: €8.2 million). Adjusted for the special effects from an earnout component from the sale of North Sea oil and gas activities, and from transaction costs from the sale of subsidiaries, an operating result of €8.0 million was achieved. The EBIT margin based on operating EBIT came to 4.0%. This figure was 3.6% in the previous year. The results are therefore within expectations. Consolidated income attributable to shareholders of Muehlhan AG increased by €0.4 million year-over-year to €4.0 million. At €0.3 million, cash flow from operating activities is considerably lower than the previous year’s cash flow (€5.2 million, not including cash flow from the sale of Gerüstbau Muehlhan GmbH).

When comparing this year’s and last year’s figures, it is important to remember that the previous year’s figures included the scaffolding business in and around Hamburg and the North Sea oil and gas activities, which have since been sold.

The Renewables unit enjoyed considerable growth in revenues year-over-year in the period from January through September 2022, climbing from €68.1 million to €83.0 million. In the Ship unit, revenues remained almost constant at €41.1 million. In the Construction/Infrastructure unit, revenues fell slightly by €2.4 million to €53.1 million following the sale of scaffolding activities in and around Hamburg in the previous year. Revenues in the Oil & Gas unit fell by more than 50% to €26.0 million due to the sale of the company’s North Sea activities as of December 31, 2021. The companies that remain in this business segment were able to boost their revenues considerably year-over-year.

The Energy segment saw a drop in its revenues for January through September 2022 compared to the same period of the previous year, from €119.1 million to €85.7 million, due to the sale of North Sea oil and gas activities. The Marine & Construction segment recorded an €11.7 million increase in revenues, reaching €117.8 million, despite the sale of the scaffolding business in Hamburg in the previous year.

The forecast for the 2022 financial year has changed slightly. The Executive Board and the Supervisory Board project revenues of around €270 million instead of the previously estimated €250 million. Operating EBIT is still projected to be between €5 million and €8 million. Added to this are positive special effects totaling €1.3 million from an earnout component from the sale of the North Sea oil and gas activities and transaction costs from the sale of subsidiaries announced on September 24, 2022. The outbreak of war in Ukraine in February 2022 affected the Group’s earnings mainly in the form of supply chain difficulties and high energy costs. It can be assumed that these effects will continue to increase if the conflict continues.

The company’s key performance indicators are shown in the following table:

in kEUR   First 9 months of 2022 First 9 months of 2021
Results      
Revenues   203,770 225,257
Earnings from operations before depreciation and amortization (EBITDA)   13,879 15,946
Earnings from operations (EBIT)   9,317 8,201
Earnings before taxes (EBT)   8,278 6,991
Consolidated income attributable to 
shareholders of Muehlhan AG
  4,022 3,560
Earnings per share from continuing operations  in EUR 0.21 0.18
Cash flow from operating activities   323 30,853
Investments in property, plant and equipment (not incl. leases)   2,095 3,433
       
Balance sheet   September 30, 2022 December 31, 2021
Total assets   173,292 147,948
Fixed assets1,2   38,153 38,357
Equity   71,381 77,336
Equity ratio  in % 41.2 52.3
       
Employees   First 9 months of 2022 First 9 months of 2021
Employees (annual average)  number 2,187 2,831

1 Fixed assets: total of non-current assets less deferred tax assets.

2  Fixed assets: without accounting according to IFRS 5

 

About Muehlhan: Muehlhan AG is a listed corporation traded on the Open Market of Frankfurt Stock Exchange (ISIN: DE000A0KD0F7 / WKN A0KD0F). The Muehlhan Group offers its customers a broad spectrum of industrial services: wind turbine services, surface protection, steel services, passive fire protection, scaffolding and insulation works. Muehlhan combines strong organizational skills and technical expertise, 140 years of experience and rigorous quality standards into cost effective industrial service offerings which satisfy the highest quality demands of its customers.

 

For further information, please visit: www.muehlhan.com



28.10.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


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
EQS News ID: 1473853

 
End of News EQS News Service

1473853  28.10.2022 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1473853&application_name=news&site_id=boersengefluester_html


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 247,72 267,80 295,27 260,38 298,52 288,28 12,50
EBITDA1,2 16,03 18,31 24,51 14,40 27,21 17,86 -2,10
EBITDA-Marge3 6,47 6,84 8,30 5,53 9,12 6,20
EBIT1,4 8,53 10,06 12,40 3,04 16,74 12,74 -4,60
EBIT-Marge5 3,44 3,76 4,20 1,17 5,61 4,42 -36,80
Jahresüberschuss1 4,65 5,52 6,25 1,27 9,79 6,37 -4,30
Netto-Marge6 1,88 2,06 2,12 0,49 3,28 2,21 -34,40
Cashflow1,7 15,41 11,36 10,89 11,76 -5,02 5,20 0,00
Ergebnis je Aktie8 0,22 0,27 0,33 0,02 0,43 0,18 -0,22
Dividende8 0,08 0,10 0,00 0,12 0,75 1,00 0,06
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Grant Thornton

INVESTOR-INFORMATIONEN
©boersengefluester.de
Muehlhan
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0KD0F 1,140 22,23
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
0,00 15,13 0,00 6,63
KBV KCV KUV EV/EBITDA
0,70 4,28 0,08 -3,44
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
1,00 0,00 0,00 06.06.2023
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
28.04.2023 28.07.2023 27.10.2023 14.04.2023
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-8,80% -22,71% -18,57% -56,15%
    
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu Muehlhan AG  ISIN: DE000A0KD0F7 können Sie bei EQS abrufen


Oberflächen/Verpackung , A0KD0F , M4N , MUN:M4N