No power train without Miba technology

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Performance Analysis and Balance Sheet Sales and earnings position For Miba, a strategic partner to the international engine and automotive industry, 2009- 2010 was one of the most challenging years in the company’s history. The first three quarters were marked by the shadow of the worldwide recession. In the fourth quarter, however, the first signs of an improving economic climate became noticeable. Miba achieved group sales of EUR 311.8 million in 2009-2010, a decline of 16.8 percent from the previous year. Miba Bearing Group generated sales of EUR 132.1 million, or 42.4 percent of group sales, making it the largest business unit in the Miba Group. Miba Sinter Group posted sales of EUR 125.2 million in 2009-2010, which is equivalent to 40.2 percent of group sales. The sales volume of the Miba Friction Group totaled EUR 50.5 million in 2009-2010, 16.2 percent of group sales. High Tech Coatings generated the remaining 1.2 percent of group sales, totaling EUR 3.9 million. Miba operates 11 production sites on three continents and is thus close to its customers in the world’s most important business centers. Up to now, Europe has been the Miba Group’s largest market, generating 63 percent of sales. The North American Free Trade zone (NAFTA), especially the USA, accounts for 17 percent of sales, unchanged from the previous year. Further sales growth was achieved in Asia in 2009-2010, bringing the East Asian growth markets’ share of Miba Group sales to 17 percent. Sales volume by business segment High Tech Coatings 1.2% Miba Friction Group 16.2% Miba Sinter Group 40.2% Miba Bearing Group 42.4% 19
20 Sales volume according to markets Europe 63% Others 3% NAFTA 17% Asia 17% Earnings before interest and taxes (EBIT) were heavily affected by declining sales in 2009- 2010. Clear strategic positioning toward technologically sophisticated products and consistent implementation of measures that counteracted the crisis, as well as strict cost discipline, made it nonetheless possible to achieve positive EBIT in 2009-2010. At EUR 16.4 million, EBIT was significantly below the previous year’s level of EUR 34.5 million. The EBIT margin in 2009-2010 was 5.3 percent, which compares favorably to others in the industry. Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled EUR 45.6 million in 2009-2010. Earnings before taxes (EBT) totaled EUR 15.5 million, likewise below the previous year’s total of EUR 30.9 million. Earnings after taxes stood at EUR 12.3 million (compared to EUR 20.8 million the previous year).
Page 1 and 2: Miba Annual Report 2009I10
Page 3 and 4: Key Figures 2009-2010 Income Statem
Page 5 and 6: 2 Miba 2015 Who we are: Miba is an
Page 7 and 8: 4 Ladies and Gentlemen, dear Shareh
Page 9 and 10: 6 7 Wolfgang Litzlbauer “Our succ
Page 11 and 12: Dr. Wolfgang Litzlbauer, CEO Miba B
Page 13 and 14: Dkfm. Dr. Wolfgang C. Berndt Indepe
Page 15 and 16: 14 The Miba Share The Miba share wa
Page 17 and 18: 16 Development of the Miba share du
Page 19: 18 in China and successful initiati
Page 23 and 24: 22 In the 2009-2010 business year M
Page 25 and 26: 24 Changes in Corporate Structure T
Page 27 and 28: 26 Section 243a (5) UGB There are n
Page 29 and 30: 28 productivity improvement program
Page 31 and 32: 30 Overall risk The Miba Group’s
Page 33 and 34: 32 Organization of financial report
Page 35 and 36: 34 Sintered gears for fuel-efficien
Page 37 and 38: 36 Research & Development Miba cons
Page 39 and 40: 38 Manager development Miba Leaders
Page 41 and 42: 40 Employees Our success as a compa
Page 43 and 44: 42 Safety - Quality - Behavior Miba
Page 45 and 46: 44 Corporate Social Responsibility
Page 47 and 48: 46 Engine bearings are crucial comp
Page 49 and 50: 48 Miba Bearing Group In the past b
Page 51 and 52: 50 Encouraging development in the F
Page 53 and 54: 52 One of the world’s leading pro
Page 55: 54 Strong awareness of quality The
Page 58 and 59: Outlook 57
Page 60 and 61: We are focused on quality, flexibil
Page 62 and 63: Rule 18 Internal auditing Internal
Page 64 and 65: Dr. Wolfgang Litzlbauer, born in 19
Page 66 and 67: Wilfried Heinzel AG, Zellstoff Pöl
Page 68 and 69: Delegated by the Employee Council H
Page 70 and 71:
Compensation of Management Board an
Page 72 and 73:
Financial Statements 71
Page 74 and 75:
Group Statement of Recognized Incom
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01/31/10 01/31/09 Note TEUR TEUR A.
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Currency translation Retained Treas
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2009-2010 2008-2009 in rounded numb
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Future Changes in Accounting Rules
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As the changes in the consolidated
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C. Accounting Principles and Valuat
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evenues totaling TEUR 52,317 (previ
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age for the (preliminary) retiremen
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and credit ratings of contracting p
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D. Notes on the Consolidated Income
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Expenditures for other persons invo
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(11) Intangible assets A detailed b
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(14) Deferred taxation The differen
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Contract manufacturing TEUR For all
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new share buyback plan for 20,000 p
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(22) Interest-bearing liabilities T
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(26) Current portion of interest-be
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Cash and cash equivalents, trade re
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Financial assets evaluated at fair
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Derivatives and Hedging Derivatives
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On the assets side, an interest rat
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Sensitivity analysis for interest r
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(32) Events after the balance sheet
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Expenditures for severance payments
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(36) Earnings per share According t
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M i b a A k t i e n g e s e l l s c
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M i b a A k t i e n g e s e l l s c
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2010, as well as the Group’s fina
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Accumulated Depreciation Net value
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Accumulated Depreciation Net value
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Other Consolidation Total Group 200
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Direct and indirect equity Type of
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ABM Advanced Bearing Materials Miba
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www.miba.com
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