Miba AG Business Report FY2011
|(in million euros)|
|FY2010||FY2009||Rate of change
|Earnings before taxes||54.5||16.4||232.3||-|
-Group sales with EUR 437.2 million significantly above pre-crisis level.
-Increases primarily in core business.
-EUR 50 million to be invested toward future growth in 2011-2012.
-A new division has been tapped through acquisitions. Over EUR 50 million will be invested into added capacity and future growth; more than half of it into Austrian sites.
-34% of this growth comes from its core segments of sintered components, engine bearings and friction materials. Another 6% (about EUR 19.1 million) can be attributed to new acquisitions: In April 2010, Miba took over the British coatings specialist Teer Coatings; in September, the Styrian power electronics manufacturers EBG and DAU were acquired. Also in September, Miba took over the friction materials business of the Swiss-based Hoerbiger Group. Along with this takeover, Miba also purchased an Indian site in January 2011: Miba Drivetec India is the first Miba production site in the emerging market India.
-The Company announced that it is taking a minority share in the sintered components manufacturer, Maxtech Sintered Product Pvt. Ltd. (MSPPL) in Pune, India effective February 1, 2011. MSPPL employs 80 people and produces sintered components for automotive engines and transmissions as well as stainless steel components for exhaust applications. Miba will transfer its powder metal technology to MSPPL and localize production of components currently imported to India from Europe. Miba will also provide sales and engineering support for MSPPL's stainless products, which are used in exhaust systems. (From a press release on February 1, 2011)
-Acquired Austria-based Elektronische Bauelemente Ges.m.b.H (EBG) and DAU Ges. m.b.H & CO. KG. (DAU), producers of power electronics components for automotive applications, as of September 1, 2010. EBG and DAU generate combined annual sales of approximately 30 million euros. EBG produces high-voltage resistors at its facility in Kirchbach. DAU manufactures thermal solutions such as air-cooled and liquid-cooled heat sinks and heat pipes at its Ligist site. (From a press release on September 1, 2010)
|(in million euros)|
|% of Sales||5%||6%||5%|
R&D Structure-In the 2010-2011 business year, Miba invested a total of EUR 22.6 million in R&D. This represents a research ratio of approximately five percent of total sales volume. On a Group-wide level, a total of 167 employees worked in this area; the center of technological activities were located at the Austrian site.
Patents-Over the last five years, an average 18 patent applications were filed each year in order to safeguard the development output. In the preceding business year, Miba submitted 17 new patent applications. Currently, Miba Group holds 166 valid patents.
R&D ActivitiesSinter Group
-A focal point of Miba Sinter Group in 2010-2011 was the development of low-noise gear drives for use in new low-consumption gasoline and diesel engines. Another focus was on the continued development of synchronization modules for use in new manual and double-clutch transmissions as well as all-wheeldrive applications.
-Miba Bearing Group focused its R&D activities in 2010-2011 on the further development of existing materials and advance development of the new generation of materials for the truck sector. The Group also refined the surface technology for high-performance engine bearings in dual-material technology. The R&D team moved ahead with the basic development for the next generation of triple-material bearings for medium-speed large-size engines. The success of their efforts signifies an important step toward more robust bearings with the strongest performance characteristics.
-The focus of the R&D activities of Miba Friction Group in 2010-2011 was the development of a new friction material for the brakes on wind turbines. The material will display higher power density while lowering the complexity of the brake system.
New Technologies Group
-In September 2010, a new division became a reality. With the takeover of the Styrian manufacturers of power electronics components, EBG and DAU, Miba stepped into a new technology and product field. Both companies are specialists in passive electronic components, such as resistors and cooling systems for power electronics. EBG and DAU have roughly 140 employees working at the sites in Kirchbach and Ligist. Through this acquisition, Miba has entered into the promising technology field of energy. Today already, Miba products improve energy efficiency of power trains, engines and drive trains and contribute to lower fuel consumption and CO2 emissions.
|(in million euros)|
-A majority of investments served the continued expansion of the Slovakian site, which celebrates its 20th anniversary in 2011.
-Approximately 46 percent of the total volume was invested at the Laakirchen site in the expansion of existing manufacturing
-The Friction Group’s investments expanded considerably, from EUR 2.1 million to EUR 11.8 million. This growth of investments was significantly influenced by the recent absorption of equipment and systems of the Polish Hoerbiger sites by Miba Steeltec, Vráble, Slovakia.