Annual Report 2007 - Muehlhan AG

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overall, the Muehlhan Group emerged invigorated from the events of the 2007 fiscal year. our aim, therefore,
is to earn a reasonable profit again from the market conditions in marine surface protection, which are
still excellent. in the short term and intermediate term, the marine business segments in Europe promise
great potential for our similar business segment services in the area of scaffolding / access technology.
as a result, the newbuilding boom in the coming years will lead to a strongly increasing demand for repair
work in the future as well, and will affect this submarket for the next few decades. With lucrative contracts
in bridge renovation and in the wind energy segment, Muehlhan has its opportunity to win new customers
and develop new submarkets step by step through diversified services, independent of individual business
segments and their fluctuations.
as such, the course for 2008 is clearly dictated: after the operational and organizational adaptations in the
year 2007, we will press forward, focused on our core business in all four business segments. the adaptations
initiated will cause Muehlhan to be able to redevelop its power in the market and restore profitability
and earnings ability!
We thank all our company’s employees for their high commitment. and finally, our special thanks go to our
shareholders, investors, business partners and friends who accompanied us during the past fiscal year.
Sincerely yours
dr andreas C. Krüger bernd Janssen Carsten Ennemann
Hamburg in March 2008