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DGAP-News: Muehlhan AG: Muehlhan AG publishes first quarter 2019 results

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


Muehlhan AG: Muehlhan AG publishes first quarter 2019 results


06.05.2019 / 07:45



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


PRESS RELEASE

Muehlhan AG publishes first quarter 2019 results

- Business performance within expected range

- EUR67.6 million of sales revenue, EUR1.2 million of EBIT


Hamburg, May 6, 2019-From January through March 2019, Muehlhan AG (Open Market;

ISIN DE000A0KD0F7) generated a sales revenue of EUR67.6 million (previous year: EUR55.9 million) and earnings before interest and taxes (EBIT) of EUR1.2 million (previous year: EUR0.9 million). As expected, the results for the traditionally weak first quarter were therefore within our range of expectations. Cash flow from operating activities was negative at EUR-3.3 million due to revenue growth (previous year: EUR-0.8 million).

A geographic review shows that sales revenue in Europe decidedly increased year-on-year by EUR11.4 million to EUR53.9 million. In the Middle East, sales revenue increased by EUR1.0 million to EUR6.1 million. In North America, sales revenue for the reporting period remained stable at EUR4.7 million compared to the previous year. In the Rest of the World, the business trend for the first quarter decreased slightly, with sales revenue reducing by EUR 0.5 million to EUR 3.0 million.

In the Ship business segment, sales revenue increased for project related reasons by EUR4.1 million to EUR16.8 million compared to the prior-year period. In the Oil & Gas segment, sales revenue was at EUR17.4 million, down by EUR1.0 million. The Renewables segment was able to increase sales revenue by EUR4.0 million to EUR8.5 million. With EUR24.9 million, the Industry/Infrastructure business posted EUR4.6 million more of sales revenue than in the prior-year period as well.
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