Download Annual Report 2003 - Mühlbauer Group

Preface
Security with a System The Share
Management
Report
Consolidated
Financial
Statements
Independent
Auditor’s
Report
Report of the
Supervisory Board
Glossary
In the Semiconductor Backend sector the DS 8000 has
been developed based on the experience gained in the
development of the market tested DS 6000 and as a
consequence it has been possible to increase the speed
in production. Both systems are outstanding for their
modular machine concept, high speed, precision and
maximum process stability.
In the last business year Mühlbauer developed a unique
connection technology for the production of dual interface
cards in the Smart Card business field and application
has made for patenting this development. The "flexible
bump" technology allows reliable connection of
chip and antenna by means of a special conductive
compound even in the case of cards subject to extreme
stress. Moreover, the functionality of the card inspection
system, power inspection PI36000, has been extended
to a decisive extent. With this system the smallest defects
in any card can be checked during the inspection
process without the travelling cards having to be stopped.
In this way up to 36,000 cards can be checked per
hour.
Mühlbauer is equipped for the replacement of conventional
travel documents by so-called "e-passports“ now
being considered by different nations. These passports
also provide the biometric data of the holder on an integrated
chip. In the year 2003 the group has developed
solutions which extend from the acquisition of biometric
data to the personalization of travel passports. The identifier
5400 has been developed on the basis of the
Scope 5400, a personalization system for smart cards.
This system makes it possible to implement biometric
data for ID documents in passport format through electronic
and optical personalization meeting maximum security
standards.
The patent sector was also developed further in the report
year 2003 and as a result of specific patent research
the Mühlbauer Group has gained important information
on the trends in technology and as a result has reduced
the risk of patent conflicts. The development of own patent
portfolio has been successfully taken forward in this
way.
SALES
Growth of emerging markets
In the business year 2003 the Mühlbauer group
achieved a slight increase in sales yield compared with
the same period in the previous year due to the increased
constant interest being shown more especially in the
Semiconductor Related Products sector. Consolidated
sales increased by 4.3 % to 95.2 million EUR in comparison
with the year 2002 (91.3 million EUR).
The Smart Identification core business area with a sales
of 39.3 million EUR which was 22.3 % below the record
figure of the previous year to the amount of 50.7 million
EUR. Although in this case the traditional areas of application
were concerned, above all due to the weak market
in Europe, the new security oriented applications only
suffered as from the middle of the year onwards as a
result of the ICAO stipulated worldwide security standards
for biometrical applications and due to the subsequent
delay in security projects.
The Semiconductor Related Products business area on
the other hand has achieved an increase in sales of
61.2% to 35.6 million EUR which is reflected in a clearly
better performance compared with the comparable period
of the previous year (22.1 million EUR). Apart from the
several positive signs in the semiconductor market this
area could profit from the new developed top technologies
in particular which as a result of "yield" and "footprint"
were outstanding.
The Traceability sector resulting out of the classical
"board handling" sector contributed to the turnover of the
group with 5.7 million EUR and suffered as a consequence
a loss of 14.5 % compared with the same period
in the previous year (6.6 million EUR). Reason for this negative
development is now as before the reluctance of
the weak electronic branch to make investments following
the traditional board handling systems which could
not be compensated despite thoroughly positively developed
new creative product line for the production of lettering
systems.
Sales Development by Applications
in Mill. EUR (Previous Year)
2002
2003
50
40
30
20
10
0
Smart Identification 39.3 (50.7)
Semiconductor Related Products 35.6 (22.1)
Traceability 5.7 (6.6)
Precision Parts & Systems 14.7 (12.1)
Regional Breakdown of Sales
in Mill. EUR (Previous Year)
Asia
21.7 (16.8)
Americas
4.6 (4.2)
Europe
21.2 ( 26.8)
Other
2.4 (0.3)
Germany
45.3 (43.4)
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