No power train without Miba technology

Miba Sinter Group
2009 was a turbulent year for the automotive industry. In Europe 14.5 million new passenger
cars and light commercial vehicles were registered, 1.6 percent fewer than in 2008
and 9.5 percent fewer than in 2007. In December 2009 demand for new vehicles was up
16 percent in comparison to the same month the previous year. Production figures for
passenger cars in the 27 EU countries fell by 12 percent compared to 2008, while light
commercial vehicles were down by 42 percent. This means that in 2009 almost 15 million
passenger cars and light commercial vehicles were produced in the 27 EU countries.
Late in the 2008-2009 business year, Miba Sinter Group became the first business unit hit
by the effects of the financial and economic crisis. The economic stimulus measures introduced
in many countries around the world, such as “cash for clunkers” programs, had a
stabilizing effect. A series of new projects made it possible for Miba Sinter Group, with
revenues of EUR 125.7 million (compared to EUR 135.4 million the previous year), to post
a decrease of only seven percent, relatively low in industry comparison.
Profitability increased thanks to the consistent implementation of measures introduced
early to raise profitability despite declining revenue. Earnings before interest, taxes, depreciation
and amortization (EBITDA) improved from EUR 18.6 to 19.7 million.
Also in this business area, investment activity focused on the sustainable development of
technology leadership. More than half of the EUR 11.2 million in investments
(compared to EUR 17.4 million the previous year) went to preparing the new sinter site in
McConnelsville, Ohio. This site will open in June 2010. Technologically advanced, energyefficient
components for engines and transmissions will be produced there in the future.
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