No power train without Miba technology

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Miba Bearing Group
In the past business year Miba Bearing Group faced a major decline in demand in its
target markets. The area of capital goods particularly suffered in the economic and
financial crisis. Business growth in this field depends on worldwide demand for
transportation capacity and energy. In certain areas the effects of the economic slump
appeared only after some delay.
Miba Bearing Group generated sales of EUR 132.6 million in 2009-2010. It thereby
contributed 42.4 percent of the total sales revenue of the Miba Group, making it the
largest business unit. The key strategy of keeping qualified core employees in the
company, along with the intensification of research, development and sales efforts,
meant that expenditures did not decline to the same extent as sales.
The success of intensive working capital management contributed to the sustainable
strengthening of liquidity, which is especially evident in the reduction of inventories. In
2009-2010, earnings before interest, taxes, depreciation and amortization (EBITDA) totaled
EUR 24.1 million, compared to EUR 33.4 million the previous year.
Capital investments were reduced from EUR 20.8 million to EUR 5.8 million in the
past business year. The majority of these investments went to the development of
the bearing sites in McConnelsville, Ohio, and Suzhou, China. In Laakirchen, Austria,
the reorganization of production was continued in order to guarantee more flexibility and
autonomy.