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DGAP-News: Muehlhan AG: Muehlhan AG publishes results for financial year 2018

DGAP-News: Muehlhan AG / Key word(s): Annual Results


Muehlhan AG: Muehlhan AG publishes results for financial year 2018


29.03.2019 / 09:05



The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

Muehlhan AG publishes results for financial year 2018

 

- Muehlhan Group continues steady upward trend of the past few years

- EUR267.8 million of sales revenue and EUR10.1 million of EBIT at upper end of  

  expectations

- Dividend of EUR0.10 per share proposed


Hamburg, March 29, 2019-Muehlhan AG (Open Market; ISIN DE000A0KDF7) fulfilled and partly exceeded internal expectations for financial year 2018: Sales revenue rose by 8.1% to EUR267.8 million. EBIT went up by 18.0% from EUR8.5 million to EUR10.1 million and the EBIT margin improved accordingly from 3.4% to 3.8%. Consolidated profit increased to EUR5.5 million (previous year: EUR4.7 million). Muehlhan investors are due an income of EUR5.0 million. Cash flow from operating activities of EUR11.4 million was satisfactory, given the revenue growth.

A geographic review shows that sales revenue in Europe increased by EUR19.6 million to EUR212.1 million compared to the prior-year period. EBIT increased from EUR7.5 million in the previous year to EUR10.3 million in the reporting year.

In the Middle East, sales revenue increased by EUR2.0 million to EUR22.8 million. The region's EBIT increased from EUR1.3 million to EUR1.9 million.

In North America, business improved year on year, with sales revenue up by EUR 1.0 million to EUR22.1 million in the reporting year. EBIT fell by EUR0.3 million to EUR1.8 million for project-related reasons.

In the Rest of the World, oil and gas projects generated EUR10.8 million of sales revenue (previous year: EUR13.2 million) and EUR1.2 million of EBIT (previous year: EUR1.4 million).
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