Annual Report 2007 - Muehlhan AG

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The Muehlhan Group is an international specialist in marine surface protection – and especially in the protection of ships’ steel surfaces from corrosion. With 2,396 employees at 36 locations our 2007 sales totaled about EUR 196 million. Our four divisions Ship Newbuilding, Ship Repair, Oil & Gas Offshore and Industry Services enable us to serve the market successfully on a broad basis. A high quality of service, more than 125 years of experience and an exacting standard of technical know-how are our distinguishing features. Key Figures in kEUR 2007 2006 Change in % Results Sales 196,092 184,389 6.3 EBITDA 1 9,362 13,878 -32.5 EBIT 2 2,861 8,104 -64.7 EBT 3 1,101 6,333 -82.6 Net earnings per share in EUR 0.00 0.23 -100.0 Consolidated earnings after minority interests -73 3,646 -102.0 Cash flow 9,365 13,930 -32.8 Investments for fixed assets 12,531 7,795 60.8 Depreciation 6,501 5,774 12.6 Balance sheet Balance sheet total 128,319 122,767 4.5 Current assets 58,695 73,555 -20.2 Fixed assets 4 65,392 46,745 39.9 Equity 59,714 59,287 0.7 Employees Annual average headcount people 2,396 2,318 3.4 1 EBITDA: Profit from operations and depreciation 2 EBIT: Profit from operations 3 EBT: Earnings before taxes 4 Fixed assets: Total of non-current assets less deferred tax assets
The Group is represented locally in all relevant regions. That enables us to develop our growth out of the markets. Our Four Divisions ship NewbuildiNg At newbuilding we apply a high-quality coating system to maximize a vessel’s life span. Newbuilding has been our core business for many years traditionally. 2007 2006 + / - in % External revenue in kEUR 65,710 71,564 -8.2 Share of external revenue in % 34 39 -5 EBIT in kEUR 2,561 3,247 -21.1 ship repair While ships are in service we renew their surface protection every three to ten years, In maintenance and repair we keep project durations to a minimum, thereby ensuring that ships are back in service as soon as possible. 2007 2006 + / - in % External revenue in kEUR 45,086 37,334 20.8 Share of external revenue in % 23 20 3 EBIT in kEUR 6,695 4,250 57.5
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Page 5 and 6: Content 2 ManageMent 2 Foreword 5 E
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Retained earnings Equity Minority i
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ManaGeMent divisions share Group Ma
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3. FINANCIAL ASSETS ManaGeMent divi
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other provisions developed as follo
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eakdown by divisions: ManaGeMent di
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Statement of the Auditors´ Report
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ussia Muehlhan Morflot OOO 198035 S
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Contacts and Financial Calendar mue
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Annual Report 2007 - Muehlhan AG

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