Miba AG Business Report FY ended Jan. 2015
Financial Overview |
(in million EUR) |
| FY ended Jan. 31, 2015 | FY ended Jan. 31, 2014 | Rate of change (%) |
Factors | |
| Overall | ||||
| Sales | 669.3 | 610.2 | 9.7 | 1) |
| EBIT | 81.9 | 70.2 | 16.7 | - |
| Sales by division | ||||
| Miba Europe | 478.2 | 454.5 | 5.2 | 2) |
| Miba Americas | 113.5 | 97.5 | 16.4 | 3) |
| Miba Asia | 77.5 | 58.2 | 33.2 | 4) |
Factors
1) Net Sales
-In the fiscal year ended January 31, 2015, the Company's net sales increased by 9.7% over the previous fiscal year to EUR 669.3 million. The increase in sales came from a combination of organic growth, growth through acquisitions, and a positive effect from currency exchange rates.
2) Miba Europe
-The Company's Miba Europe division had sales of EUR 478.2 million in the fiscal year ended January 31, 2015, a 5.2% increase over the previous fiscal year. The growth in sales was due to strong performances in the Company's European sinter sites and its Austrian coatings site.
3) Miba Americas
-Sales for the Miba Americas division increased 16.4% from the previous year to EUR 113.5 million in the fiscal year ended January 31, 2015. Decreasing fuel prices and a strong U.S. economy led to strong performance to all of the Company's production sites in the region.
4) Miba Asia
-Sales for the Miba Asia division in the fiscal year ended January 31, 2015 totaled EUR 77.5 million, a 33.2% increase over the previous year. The increase in sales was caused by the consolidation of EBG Shenzhen Ltd. and the expansion of Miba Precision Components (China) Co. Ltd.
R&D Expenditure |
(in million EUR) |
| FY ended Jan. 31, 2015 | FY ended Jan. 31, 2014 | FY ended Jan. 31, 2013 | |
| Overall | 27.9 | 26.7 | 28.2 |
| % of Sales | 4.2 | 4.3 | 5.0 |
R&D Structure
-As of January 2015, the Company has 235 employees working in research and development.
R&D Activities
-In the fiscal year ended January 31, 2015, the Company engaged in the following research activities:
- Expansion of the technologies used in NVH-optimized gear drives, specifically noise-optimized sintered components for high-end three cylinder engines
- Development of dry clutch systems for light commercial and passenger vehicles, specifically clutch discs and damper systems
- Completion of Smart Coatings project which focused on the improvement of tribological properties in applications including powertrains, bearings, and gear drives
Patents
-In the fiscal year ended January 31, 2015, the Company applied for 18 new patents and had 233 valid patents.
Capital Expenditure |
(in million EUR) |
| FY ended Jan. 31, 2015 | FY ended Jan. 31, 2014 | |
| Miba Europe | 29.2 | 35.3 |
| Miba Americas | 11.8 | 14.4 |
| Miba Asia | 12.9 | 15.6 |
| Shared Services | 1.3 | 1.9 |
| Consolidation | (1.7) | 0.9 |
| Total | 53.4 | 68.1 |
Investment in Austria
-In 2015, the Company began construction of the Miba Forum, a head-office building in Laakirchen, Austria which will feature a customer, technology, and learning center.
Investment outside Austria
<U.S.>
-Miba Sinter USA LLC, a subsidiary of the Company, is officially opening new production facilities. The expansion at the site in McConnelsville, Ohio, U.S., will create 100 new jobs in the next three years and is expected to require an investment of USD 8 million. When completed, the production area of the site is expected to double to 88,414 squre-feet. The facility produces high precision parts for the North American automotive industry: variable valve timing components, synchronizer hubs, high-strength gears, chain sprockets, belt pulleys and electronic power steering components. (From a press release on July 14, 2014)
<China>
-Miba Precision Components (China) Co. Ltd. (MPCC), a subsidiary of the Company, celebrated the official opening of the phase II expansion in Suzhou Industrial Park, Jiangsu Province, China. Construction began on the expansion in 2012. In phase II, an extension of approximately 16,000 square meters was added from the end of 2012 to the end of 2013. The completed facility site has a total production area of 24,000 square meters. With the expansion, the facility has structures for 1,000 employees. Approximately EUR 35 million was invested in the construction and expansion of the site. The facility will produce engine bearings, sintered components, friction materials, and coatings for international customers in Asia. (From a press release on March 31, 2014)
<Slovakia>
-The Company purchased new equipment and expanded its Miba Sinter Slovakia facility in Dolny Kubin. The facility now features a new machining center which allows it to perform its own machining work and support other facilities with machining projects.
Data
Number of Employees
| Jan. 2015 | Jan. 2014 | Jan. 2013 | |
| Austria | 2,191 | 2,130 | 2,071 |
| Slovakia | 1,277 | 1,219 | 1,146 |
| U.S. | 651 | 551 | 513 |
| China | 665 | 383 | 299 |
| U.K. | 58 | 54 | 53 |
| India | 44 | 40 | 37 |
| Singapore | 33 | 31 | 34 |
| Others | 17 | 16 | 0 |
| Total | 4,936 | 4,424 | 4,153 |
Sales |
(in million EUR) |
| FY ended Jan. 31, 2015 | FY ended Jan. 31, 2014 | FY ended Jan. 31, 2013 | FY ended Jan. 31, 2012 | FY ended Jan. 31, 2011 | |
| Sales | 669.3 | 610.2 | 606.6 | 592.6 | 437.2 |
Sales by Product Group |
(in million EUR) |
| FY ended Jan. 31, 2015 | FY ended Jan. 31, 2014 | FY ended Jan. 31, 2013 | |
| Sintered components | 251.5 | 224.4 | 210.7 |
| Engine bearings | 205.6 | 181.3 | 200.1 |
| Friction materials | 139.3 | 140.7 | 136.1 |
| Power electronic components | 46.0 | 40.3 | 59.6 |
| Coatings | 17.6 | 15.2 | |
| Special machinery | 9.3 | 8.1 | |
| Total | 669.3 | 610.2 | 606.6 |
Sales by Geographic Area |
(in million EUR) |
| FY ended Jan. 31, 2015 | FY ended Jan. 31, 2014 | |
| Europe | 478.2 | 454.5 |
| Americas | 113.5 | 97.5 |
| Asia | 77.5 | 58.2 |
| Total | 669.3 | 610.2 |