Miba Business Report FY2007
in million euros
|FY2007/08||FY2006/07||Rate of change||Factors|
|Earnings before taxes||54.5||48.4||%||-|
|Sales by Segments|
-After adjustment for the sales loss resulting from the disposal of sinter plants in Spain and Italy, Miba Sinter Group posted a sales increase of 31 percent. Growth therefore significantly surpassed market growth.
This was due to new projects in the area of sintered camshaft gears or highly stressed components for double-clutch transmissions such as synchronizer hubs and dog rings 窶 products that went into standard production in the past fiscal year.
-EBITDA totaled 7.1 million euros in the past fiscal year and was significantly reduced by the sale of the production site in Spain.
-Miba Bearing Group benefited in the past business year from continuing high demand, particularly from the Far East, and was able to continue its dynamic growth. New orders reached record levels in important target segments such as commercial vehicles and ships. Fiscal year 2007-2008 closed with a new sales record of 156.3 million euros. This corresponds to an increase of almost ten percent compared with the previous year. Miba Bearing Group accounted for 40.3 percent of the Company's total sales volume and for the first time was virtually tied with Miba Sinter Group.
- EBITDA in the same period remained at a high level at 38.9 million euros.
-Miba Bearing Group's biggest production site in Laakirchen, Austria, posted growth of ten percent in 2007-2008. In order to meet higher customer demand efficiently, 10 million euros was invested in significant expansion of the production area and purchase of new equipment. Miba Bearing Group is therefore well prepared for further growth, especially in its new core business 窶 truck bearings.
-The demand in the U.S. tractor market, in particular, increased significantly due to the rising demand for agricultural products. Miba Friction Group also posted double-digit growth in the area of brake applications for wind generators and high-speed trains and clutch segments for the commercial vehicle sector.
- EBITDA jumped to 6.4 million euros from 1.3 million euros during the reporting period because relocation of the new friction coating plant to Vrable, Slovakia, made start-up costs unnecessary.
-Due to the strong growth in incoming orders, all plants in Miba Friction Group experienced high capacity utilization during the past year. Production was at an especially high level during the entire year at the parent plant in Roitham, Austria, in order to meet the strong customer demand. Sales at this location rose by almost 16 percent compared with the previous year. Productivity was again increased as the result of systematic development of production processes, and new production launches were successfully carried out for a number of major customers.
Effective August 1, 2007, the Company sold its subsidiary Miba Sinter Spain S.A. (now called Sintermetal S.A.), which was based in Ripollet, Spain. With this sale, Miba Sinter Group implemented its new production site concept, which is designed to support a global customer supply system, and also underscored its clear strategic orientation toward high-tech products.
By reducing the number of production sites, Miba Sinter Group was able to raise its high productivity and quality level even further. It invested almost 19 million euros for this purpose in the past year.
(In million euro)
|% of Sales||4%||5%||5%||3.5%|
- According to a study by the EU Commission, the Company is one of the top 500 most research-intensive corporations in Europe and among the top ten of the most research and development oriented corporations in Austria.
- The number of patents filed increased by 23% in the reported year.
Sinter Component Group
In 2007-2008, the Group developed the surface densification technology called Densgrad(R) and new densification processes for the manufacture of highly stressed, quiet and at the same time weight optimized
gears for passenger car engines.
The new Miba Denscomp(R) press technology was introduced in standard production for the manufacture of sintered bearing caps in modern passenger car diesel engines. It makes it possible to achieve maximum component strength economically and with high precision even with complex geometries.
In 2007-2008 Miba Bearing Group focused its research on heavy-duty, lead-free bearing types and improved electroplated and synthetic overlays. It developed Type 69, for example, a lead-free sputter bearing with a SYNTHEC run-in coating that is currently the heaviest-duty bearing for truck and high-performance engines.
Investment by segment
(In million euro)
1) A total of 14 million euros was invested in the purchase of new equipment to expand capacity at the high-tech site in Vorchdorf, Austria, the largest European production facility for sintered components. This site alone posted sales growth of 21 percent in the past fiscal year.
2) The Slovakian facility for sintered components in Dolny' Kubﾃｭn, which
optimized its product portfolio to focus on high-tech products after acquiring the
neighboring Metalsint plant, also expanded significantly.
3) The Company's first production facility in China, Miba Precision Components China (MPCC), went into operation in 2007-2008. The newly constructed plant produces both sintered components and bearings. In the area of sintered components, standard production of engine parts was started up in the past fiscal year.
At the Suzhou site of the newly established company Miba Precision Components China (MPCC), production focuses primarily on bearings for commercial vehicles. Local production guarantees proximity to the major Chinese engine and vehicle producers. Because of the dynamic market growth, expansion of capacities in the area of large bearing production is being considered.
The relocation of steel disc production from Sheffield, England, to Vrable, Slovakia, was successfully completed during the 2007-2008 business year. Operations were shut down at the English site in November 2007. A competitive standard production operation was set up at the new site in order to fill customer orders with maximum efficiency.
80 percent of Roitham's steel disc requirements will be supplied by Vrable.
-In order to meet the rising demand for Miba technology efficiently, extensive
investments in plants and equipment are also planned for fiscal year 2008-2009 and will total about 40 million euros. A major focus will be the United States, where about 15 million euros will be invested in the expansion of the existing bearing plant and in the buildup of sintered components production. By making these investments, Miba will be able to support its European customers as they launch new technologies in the U.S. market.