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Muehlhan AG
Earnings Release • May 4, 2018
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Earnings Release
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Corporate | 4 May 2018 08:24
Muehlhan AG: Muehlhan AG publishes first quarter 2018 results
DGAP-News: Muehlhan AG / Key word(s): Quarter Results
04.05.2018 / 08:24
The issuer is solely responsible for the content of this announcement.
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 of 2018 | 1st quarter of 2017 | |
| Results | |||
| Sales revenues | 55.9 | 55.8 | |
| EBITDA 1 | 2.9 | 3.2 | |
| EBIT 2 | 0.9 | 1.2 | |
| EBT 3 | 0.6 | 0.9 | |
| Consolidated earnings after non-controlling interests | 0.3 | 0.3 | |
| Earnings per share from continuing operations | in EUR | 0.02 | 0.02 |
| Cash flow from operating activities | -0.8 | 4.7 | |
| Investment for property, plant and equipment | 2.4 | 3.6 | |
| Balance sheet | 31/3/2018 | 31/12/2017 | |
| Total assets | 141.3 | 145.5 | |
| Fixed assets 4 | 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) | number | 2,884 | 2,929 |
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]
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 |