Annual Report - Miba

Right on track in
insecure times
Sales and
Performance Analysis
Despite a volatile economic environment, Miba was able to hold up well in the 2004/05
fiscal year. The Group’s consolidated sales revenue amounted to 327.9 million EUR as
compared to 294.4 million EUR in the comparable period of the previous year. The marked
11.4% growth in sales as compared to 2003/04 is, among other things, a result of Miba’s
diversification in terms of its markets and customers. This diversification ensures that a
decline in one segment can be overcompensated through an increase in another segment.
Miba’s success is based on its strong foundation as a strategic partner of the international
engine and automotive industry. Miba’s technological leadership position enables it to
become involved in its customers’ development projects at an early stage, thereby
securing its competitive edge.
The increase in sales in the 2004/05 fiscal year should be evaluated particularly against the
background of the marked drop in the Dollar exchange rate value against the Euro. At the
average Dollar exchange rate of the 2003/04 fiscal year, sales in the previous fiscal year
would have been 3.6 million EUR higher.
As was the case in previous years, the distribution of sales takes place according to the
business segments. Miba Sinter Group made up 49.1% of total sales in 2004/05. Miba
Bearing Group contributed 34.3% to total sales. Miba Friction Group, the third and most
recently formed business unit, made up 16.6% of sales.
In 2004/05, the Group’s earnings before taxes (EBT) amounted to a sustained high level of
23.3 million EUR (21.6 million EUR in the previous year). The consolidated net income for
the year reached 17.5 million EUR during the period under review and exceeded the
amounted recorded the previous year by 2.6 million EUR.
Sales volume
by divisions
Friction Group
16,6 %
Bearing Group
34,3 %
Sinter Group
49,1 %
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