Annual Report - Miba

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44 2004/05 was a highly successful fiscal year for Miba Friction Group. With 54.4 million EUR, a new sales record was set. This corresponds to a 12.0% or a 5.8 million EUR increase as compared to the previous year. This increase is especially notable in light of the strong exchange losses of the USD during the same time period.
Exemplary start-up of a new plant In the preceding fiscal year, Miba Friction Group benefited from the positive economic trend across all customer markets. Increases were recorded in all sales divisions and plants. The high demand for clutch and brake linings used in commercial vehicles, agricultural tractors and construction machinery deserves special mention. A number of new high-volume orders by major clients contributed to Miba Friction Group’s growth. Friction Group AGCO, one of the world’s leading manufacturers of agricultural tractors, presented Miba Friction Group with the “Outstanding Performance Award”. However, circumstances on the international commodity markets were as difficult as they were favorable on the customer markets. In 2004/05, Miba Friction Group had to cope with the scarcity of steel and non-ferrous metal resources. This resulted in supply bottlenecks and considerable price hikes. In the second half of the year, Miba Friction Group was at least partially able to pass the resulting increased costs through to its customers. In mid-May 2004, Miba Frictec GmbH’s new production site in Roitham was inaugurated. Operations in this modern plant were excellent from the start. Substantial process improvements were implemented. At the same time, the plant’s operative performance was significantly enhanced. 45
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 46 and 47: 40 In the past fiscal year 2004/05,
Page 48 and 49: 42 In Europe, Miba Bearing Group wa
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
Page 106 and 107:
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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