Miba reports that it continued its positive performance from the previous year in the first quarter of 2015–2016. Consolidated revenue amounted to €190.4 million, an increase of €26.9 million compared to the first quarter of 2014–2015. EBIT (earnings before interest and tax) amounted to €24.6 million and was therefore €5.3 million above the prior-year figure.

Miba says that it benefitted from the good performance of the automotive industry and a  strong demand for trucks and locomotives, particularly in the US. This was contrasted by weaker order intakes from the construction machinery, agricultural equipment, ship engines and truck sectors in China.

‘The first quarter’s result was a high point for Miba. However, success does have its limits,’ said chairman of the management board, F Peter Mitterbauer. ‘The global capital goods industry, Miba’s largest sales area, continues to lose momentum, which is why we are now already bracing ourselves for a marked slow-down in the second half of 2015–2016.

 ‘We are planning to expand our traditional areas and to broaden our product portfolio further through acquisitions,’ he added.

This story is reprinted from material from Miba, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.