Annual Report - Miba

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40 In the past fiscal year 2004/05, Miba Bearing Group succeeded in using the market opportunities provided, particularly in the Far East, and translating them into economic success. With 112.3 million EUR, Miba Bearing Group generated the highest sales in the history of the corporation. In comparison with the previous year, this represents an 18.6% or a 17.6 million EUR increase – despite a significantly weaker Dollar exchange rate than in bygone years.
Using market opportunities in the Far East Engine bearings manufactured at the Laakirchen and McConnelsville sites are used in ships, locomotives, commercial vehicles or in power plants. The growth witnessed in the preceding fiscal year is spread out over all these segments and across all locations. In addition to the two production plants, the Sales Office in Singapore, the gate to the Far East, developed in a very positive manner. Bearing Group The shipyards in China and Korea will be operating at full capacity for years to come. Miba Bearing Group benefited from this high demand. Furthermore, a significant order was secured from the most important Chinese commercial vehicle manufacturer which made Miba Bearing Group its major development partner and the supplier for its new generation of motors. In the US market, the anticipated recovery in the railroad business took place, benefiting original equipment as well as services. This can be linked to two reasons. On the one hand, the US economy continued its recovery. The railroad system also benefited from the resulting increased demand for transportation volume. On the other hand, new environmental standards which led to time-advanced contracts became effective at the beginning of 2005. As of 2005, the two leading American manufacturers of locomotive engines have been exclusively using engine bearings from Miba Bearings US. 41
Page 1 and 2: Innovation in Motion Annual Report
Page 3: Income Statement (in EUR million) 2
Page 7 and 8: Annual Report 2004/05 Innovation in
Page 9 and 10: Preface by the Chief Executive Offi
Page 11 and 12: DI DDr. h.c. Peter Mitterbauer, Cha
Page 13 and 14: Ing. Alfred Hörtenhuber, Chief Exe
Page 15: The Supervisory Board would like to
Page 19 and 20: Excellent performance The Miba Shar
Page 21: Development of the Miba stock in th
Page 24 and 25: 18 Highlights 2004/05 Highlights Fe
Page 26 and 27: 20 Miba Bearings US LLC, USA Miba H
Page 28 and 29: 22 In 2004/05, Miba Bearing Group a
Page 30 and 31: 24 Sales volume by markets NAFTA 15
Page 33 and 34: Business Report 27
Page 35 and 36: One of the main pillars of Miba’s
Page 37 and 38: Miba Group Employees (yearly averag
Page 39 and 40: Technological leadership strengthen
Page 42 and 43: 36 At present, the West-European au
Page 44 and 45: 38 The product group gears showed c
Page 48 and 49: 42 In Europe, Miba Bearing Group wa
Page 50 and 51: 44 2004/05 was a highly successful
Page 52 and 53: 46 In the preceding fiscal year, th
Page 54 and 55: 48 Risk Report Risk Report As a par
Page 57 and 58: Financial Statements 2004/05 of Mib
Page 59 and 60: A. Shareholders’ Equity: 01/31/20
Page 61 and 62: Miba Aktiengesellschaft, Laakirchen
Page 63 and 64: The annual financial statements wer
Page 65 and 66: Receivables and other Current Asset
Page 67 and 68: Sales Revenue Per region: IV Commen
Page 69 and 70: The members of the Management Board
Page 71 and 72: Acquisition and Depreciation Manufa
Page 73 and 74: Miba Aktiengesellschaft, Laakirchen
Page 75 and 76: "The accounting and the financial s
Page 77: Consolidated Financial Statements 2
Page 80 and 81: 74 Miba Aktiengesellschaft, Laakirc
Page 86 and 87: 80 Notes on the Financial Statement
Page 88 and 89: 82 B. Principles of Consolidation w
Page 90 and 91: 84 3. Foreign Currency Translation
Page 92 and 93: 86 On August 27, 2001, the bearing
Page 94 and 95: 88 Deferred taxes reflect timing di
Page 96 and 97:
90 6. Estimates To a certain degree
Page 98 and 99:
92 5. Depreciation in TEUR 2004/05
Page 100 and 101:
94 10. Taxes on income and earnings
Page 102 and 103:
96 in TEUR 01/31/2005 01/31/2004 Ac
Page 104 and 105:
98 For the 2004/05 fiscal year, def
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100 17. Cash and cash equivalents i
Page 108 and 109:
102 Provisions for post-retirement
Page 110 and 111:
104 Changes in accruals As at Forei
Page 112 and 113:
106 E. Other information 30. Cash f
Page 114 and 115:
108 The contracts are stated as of
Page 116 and 117:
110 35. Earnings per share Accordin
Page 118 and 119:
112 Miba Aktiengesellschaft, Laakir
Page 120 and 121:
114 Changes in consolidated fixed a
Page 122 and 123:
116 Segment Reports Appendix 2 to t
Page 124 and 125:
118 Equity Interests as at January
Page 126 and 127:
120 Imprint Publisher Miba Aktienge
Page 128:
www.miba.com
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Annual Report - Miba

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