Muehlhan publishes 2013 annual result

Muehlhan publishes 2013 annual result

The Muehlhan Group (Entry Standard; ISIN DE000A0KD0F7) succeeded in continuing its upward trend during fiscal year 2013, despite continuing difficulties in the maritime markets. With higher sales in all regions, the Group reported earnings of €1.5 million. Consolidated sales increased 12% to €207.8 million and EBIT improved by €0.7 million to €5.2 million. Consolidated after-tax income improved from €0.1 million to €1.5 million.

The improved earnings data confirm the decision by the Executive Board and the Supervisory Board to respond to the decline in the maritime segment by shifting the Group’s focus to the Oil & Gas and Industry segments. At the same time, the positive earnings trend reflects management’s persistent, albeit unglamorous, work on numerous operating parameters.