In the first three quarters of 2014-2015 (February 1 to October 31), Miba AG, listed in the standard market auction segment of Wiener Börse AG, generated consolidated revenue of EUR 498.3 million, which equates to an increase of EUR 38.3 million, or 8.3 percent, compared to the first three quarters of 2013-2014. EBIT (earnings before interest and tax) amounted to EUR 62.9 million (previous year: EUR 54.1 million).
In the third quarter, Miba has again benefited from the positive performance in many of its sales markets and has exploited the resulting market opportunities well. From as early as the beginning of the year, the automotive industry in Europe, the USA and China, as well as the heavy truck market in Europe and the USA were the growth drivers. At the same time, Miba is, however, confronted by weaknesses in other markets that have already persisted for some time. Global demand for ships or mining equipment thus continued to remain at historically low levels in recent months and the market for agricultural commercial vehicles declined.
To maintain and further increase its competitiveness, Miba is investing more heavily in the USA and China where there are the greatest opportunities for growth for the Upper Austrian technology group. In the first nine months of the fiscal year, Miba invested a total of EUR 36.1 million in capacity expansions and in measures to improve productivity, thus remaining true to its expansive investment strategy.
As of the October 31, 2014, reporting date, Miba employed 5,154 members of staff globally (including agency staff), and therefore more than 500 more people than a year ago. On the one hand, the increase in the number of employees is attributable to this year's initial consolidation of the Chinese company, EBG Shenzhen Ltd., in which the Miba Group holds 55 percent of the shares overall. On the other hand, employees were recruited mainly at the Suzhou (China) site and in Slovakia and Austria.
While expectations for the full year are positive, the outlook for 2015 is subdued due to the weak investment climate and the potential effects from geopolitical tensions.