Annual Report 2007 - Muehlhan AG

26
Group
Management Report
positioning and strategy
Services in the surface
protection field on three continents
Muehlhan aG (MyaG) is the holding company for a total
of 36 subsidiary and sub-subsidiary companies in Europe,
the uSa and asia. of those, 33 companies are currently
consolidated. the Group has a global presence as one
of the leading providers of services in the field of surface
protection for steel constructions. business activities
include work on ships as well as offshore facilities and
industrial facilities.
in the 2007 fiscal year, the Group had total revenues
of Eur 196.1 million. it was therefore just above the
level from the previous year (2006: Eur 184.4 million)
by 6.3%. our Group had Ebt of Eur 1.1 million in 2007
(previous year: Eur 6.3 million). Consolidated net profit
before minority interests was Eur 0.5 million (previous
year: Eur 3.9 million), and after minority interests
Eur -0.1 million (previous year: Eur 3.6 million). the
Muehlhan Group had an average of 2,396 employees
in 2007 compared to 2,318 employees in the 2006 fiscal
year.
Muehlhan aG itself performs strategic management tasks
for the Group (Company strategy and business development,
marketing, internal audits, financing and controlling,
investor relations, and research & development) and provides
centralized service functions for the various subsidiary
companies (accounting, it and personnel).
Four business divisions
determine the operative activities
in addition to pure surface protection work – divided primarily
into the “marine” and “industrial” segment – in the Ship
Newbuilding, Ship repair, oil & Gas offshore and industry
Services segments, the Group provides services in the
related business segments steel construction and access
technology.
the Ship Newbuilding division still occupies a significant
portion of our efforts. as an essential part of the production
process of our customers, we have been integrated
at many shipyards for years. our work includes surface
protection in the Ship Newbuilding segment, in particu-
lar for new construction of container ships, oil, gas and
product tankers, cruise ships, other merchant ships and
naval vessels.
in the Ship Repair division, the Muehlhan Group provides
services in the field of maintenance and renewal of surface
coatings for ships. the range of offerings extends from
short-term repair work on the outer hulls of the ships to
elaborate renovation of water ballast and cargo tanks.
in this business segment, our clients are ship owners and
repair shipyards that do not themselves perform maintenance
on and renewal of surface protection, or only do so
to a limited extent.
in the Oil & Gas Offshore division, the Muehlhan Group
offers its services both for new construction as well
as for the repair and maintenance of offshore facilities.
offshore installations include all stationary and floating
drilling, treatment and production facilities. our customers
are exploration and oil and gas production companies, as
well as newbuilding and repair yards.
the Industry Services division includes surface protection
for steel structures outside the marine segment, in
particular for steel hydraulic structures, refineries, chemical
and petrochemical production and tank facilities, wind
turbines, steel bridges and cranes. at the same time, this
business division deals with all related business segment
services, such as the provision of scaffolding and access
technologies in the Ship Newbuilding business and Ship
repair business, and even steel construction work for our
maritime customers. the industry Services segment provides
services to third parties, both directly and indirectly,
through the other business divisions.
Goal and strategy: Become established as a
market leader in the intermediate term with
profitable growth
our goal is profitable growth, with which we will grow to
become the market leader in our segment within the next
few years. our strengths benefit us in this manner: in a
fragmented competitive environment we are an ideal business
partner and collaboration partner for large customers
with our technical know-how, our high quality standards
and our virtually global presence.