Muehlhan AG

  • WKN: A0KD0F
  • ISIN: DE000A0KD0F7
  • Land: Deutschland

Nachricht vom 07.11.2019 | 08:15

Muehlhan AG: Muehlhan AG published third quarter results for 2019

DGAP-News: Muehlhan AG / Key word(s): 9 Month figures

07.11.2019 / 08:15
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

Muehlhan AG published third quarter results for 2019

- Business performance within expected range

- EUR218.0 million of sales revenue, EUR8.6 million of EBIT

- Executive Board confirms sales revenue and earnings forecast

Hamburg, November 7, 2019-From January through September 2019, Muehlhan AG (Open Market; ISIN DE000A0KD0F7) generated sales revenue of EUR218.0 million (previous year: EUR199.2 million) and earnings before interest and taxes (EBIT) of EUR8.6 million (previous year: EUR6.8 million). Therefore results are within our range of expectations. Cash flow from operating activities was negative at EUR-2.8 million (previous year: EUR 4.0 million) due to revenue growth and temporary special effects.

A geographic review shows that sales revenue increased year-on-year in all regions. Sales revenue grew significantly in Europe by EUR12.1 million to EUR169.4 million. In the Middle East, sales revenue grew slightly by EUR 0.9 million and amounted to EUR17.7 million after the first nine months of 2019. The business performance in North America was also pleasing with a EUR2.4 million increase in sales revenue to EUR18.7 million. In the Rest of the World sales revenue growth amounted to EUR3.5 million year-on-year, with sales revenue for the end of the period amounting to EUR12.2 million.

In the Ship business segment, sales revenue increased by EUR9.5 million to EUR50.6 million compared to the prior-year period. In the Oil & Gas segment, sales revenue was at EUR57.8 million down by EUR4.7 million. The Renewables business segment was able to significantly increase sales revenue by EUR10.3 million to EUR33.9 million due to the expansion of wind park services and the start-up of production in Cuxhaven. With EUR76.0 million, the Industry/Infrastructure business posted EUR4.1 million higher sales revenue than in the prior-year period as well.

The Executive Board stands by the forecast given for the 2019 financial year and still expects that the Group's upward trend will continue with a slow but steady increase in profitability. With marginally increased sales revenue of approximately EUR280 million, the company also expects EBIT to increase to an amount at the upper end of the expected range of between EUR10.0 million and EUR11.0 million.

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

in EUR million   First 9 months of 2019 First 9 months of 2018
Result      
Sales revenue   218.0 199.2
EBITDA1   14.5 12.9
EBIT2   8.6 6.8
EBT3   7.5 5.6
Consolidated profit after non-controlling interests   3.9 3.5
Earnings per share from continuing operations in EUR 0.21 0.18
Cash used in/cash flow from operating activities   -2.8 4.0
Investment in property, plant and equipment   5.2 7.4
Balance sheet   9/30/2019 12/31/2018
Total assets   175.3 151.1
Fixed assets4   66.7 62.9
Equity   71.0 68.3
Equity ratio in % 40.5 45.2
Employees   9/30/2019 9/30/2018
Employees (annual average) number 3,087 3,021
 

1 EBITDA: Earnings before interest, taxes, depreciation and amortization
2 EBIT: Profit from operations (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, Muehlhan Group is a reliable partner in industrial services. As one of the few full-service providers we offer our customers a broad spectrum of industrial services with professional industrial quality standards. 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.

You can find additional information at www.muehlhan.com

Contact: Muehlhan AG; phone: +49 40 75271-150; e-mail: investorrelations@muehlhan.com



07.11.2019 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

Interview im Fokus

Mountain Alliance: „Großer Digitalisierungsschub“

Furioses Börsendebüt für den Datenbankspezialisten Exasol. Einer der Profiteure: Die Münchner Beteiligungsgesellschaft Mountain Alliance AG (MA, ISIN DE000A12UK08), die auch nach einem Teilexit noch rund 2% an Exasol hält. Aktuell notiert die MA-Aktie rund 30 % unter dem NAV. Financial.de sprach mit MA-CEO Daniel Wild über die stärksten Digitalisierungstrends, die kritische Größe von 100 Mio. Euro Börsenwert, den neuen Investor und weitere Aktienkäufe.

GBC-Fokusbox

Aves One AG: Kursziel 13,60 €

Die Aves One AG ist auch in der Corona-Krise als Bestandshalter von langlebigen Logistik-Assets mit langfristigen Mietverträgen gut aufgestellt. Das Unternehmen hat als Guidance einen Umsatz und ein EBITDA mindestens auf Vorjahresniveau verkündet. Unseres Erachtens sollte dies auch ohne Zukäufe gut machbar sein, da die im abgelaufenen Geschäftsjahr 2019 erworbenen Assets bereits zu einer höheren Umsatzbasis führen sollten. Auf Basis unseres DCF-Modells haben wir ein Kursziel in Höhe von 13,60 € ermittelt und vergeben ein KAUFEN-Rating.

News im Fokus

Vonovia SE: Vonovia veröffentlicht Nachhaltigkeitsbericht: Wohnungsunternehmen wird Vorreiter bei Erforschung effizienter Technologien (News mit Zusatzmaterial)

04. Juni 2020, 11:00

Aktuelle Research-Studie

Original-Research: B-A-L Germany Vz. (von Sphene Capital GmbH): Buy B-A-L Germany Vz.

04. Juni 2020