Annual Report - Miba

24
Sales volume
by markets
NAFTA
15.3 %
Asia
8.2 %
Others
4.2 %
EU 72.3 %
Cash flow from operations also developed favorably and with 39.1 million EUR exceeded
the amount recorded in 2003/04 by 10.8 million EUR. The cash flow and the high equity
ratio of 50.8% speak in favor of Miba’s earnings power and solid financial structure.
Cash flow from operations is offset by investments in tangible and intangible assets at the
existing sites amounting to 24.7 million EUR (in 2003/04: 24.3 million EUR). These investments
are part of an ambitious investment program of 100 million EUR for the years to
come.
Miba is a successful and independent corporation with its Head Office in Austria and sites
in the major economic centers of the world. Our international orientation is reflected in the
regional distribution of sales. In 2004/05, 72.3% of sales were generated within the EU.
An additional 15.3% of Miba’s sales came from the NAFTA region. In 2004/05, Asia has
become increasingly important, and contributed approximately 8.2% of Miba’s sales as
compared to 6.8% in the previous year.