No power train without Miba technology
No power train without Miba technology
No power train without Miba technology
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14<br />
The <strong>Miba</strong> Share<br />
The <strong>Miba</strong> share was not able to escape the uncertainty of investors at the outset<br />
of the worldwide financial and economic crisis beginning in September 2008, and the<br />
share price initially fell. In the 2009-2010 business year, market prices recovered slightly<br />
and the <strong>Miba</strong> share price fluctuated between EUR 69 and 91, reaching the yearly high in<br />
mid-October 2009. Beginning in fall 2009, the share stabilized and displayed a horizontal<br />
movement with a slight downward tendency. The share closed at EUR 81 at the end of<br />
the financial year.<br />
In 2009-2010 <strong>Miba</strong> stock significantly outperformed the WBI (Wiener Börse Index)<br />
through May, falling below the WBI performance after May.<br />
With a price-earnings ratio of 8.13 (as of January 29, 2010), <strong>Miba</strong> stock continues to be<br />
attractively rated. Earnings per share for 2009-2010 totaled EUR 9.93 per share, a 40 percent<br />
decrease from the previous year.<br />
Share buyback plan<br />
On June 19, 2009, the Annual Shareholders’ Meeting authorized the company to purchase<br />
company shares totaling up to 10 percent of share capital through December 31, 2011, in<br />
accordance with section 65 (1) 8 of Austria's Stock Corporation Act. On July 14, 2009, the<br />
Management Board adopted a share buyback program. The buyback price ranges between<br />
EUR 50 and 200. The intended repurchase volume corresponds to<br />
approximately 2.3 percent of the share capital.