Muehlhan AG, DE000A0KD0F7

Muehlhan AG, DE000A0KD0F7

29.07.2022 - 11:17:25

Muehlhan AG: Muehlhan AG publishes its results for the first half of 2022

made in the USA into a grant (previous year: ?-0.4 million). In the Oil & Gas unit, revenues have virtually halved to ?15.8 million since the sale of the North Sea oil and gas activities compared with the level achieved in the year prior to the sale (?34.8 million). The companies that remain in this business segment were able to boost their revenues year-over-year. EBIT was increased by ?0.2 million to ?1.7 million.

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Revenues in the Marine & Construction segment rose by ?3.2 million to ?73.5 million. EBIT increased from ?2.7 million to ?4.1 million. The loss of revenues and EBIT as a result of the sale of Ger?stbau Muehlhan GmbH was offset by other companies. The Energy segment generated significantly lower revenues and results due to the sale of the North Sea business. Revenues slumped from ?75.5 million to ?47.9 million, while EBIT was halved year-over-year, falling from ?5.4 million to ?2.5 million.

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For the time being, the forecast for the 2022 financial year remains unchanged in comparison to the previous publications, but is now subject to significantly greater uncertainty due to the political and economic environment, supply chain problems and some drastic material and energy price increases that can seldom be passed on to the customers due to ongoing fixed-price contracts. Subject to no new relevant restrictions relating to the COVID-19 pandemic being introduced, the Executive Board and Supervisory Board are still reckoning with revenues of around ?250 million and EBIT from ongoing business of between ?5 million and ?8 million. In addition, there is income of around ?6 million from the earnout components relating to the sale of the North Sea oil and gas business in 2021.

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The company?s key performance indicators are shown in the following table:

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in kEUR ? 1st half of 2022 1st half of 2021 Results ? ? ? Revenues ? 121,539 143,482 Earnings from operations before depreciation and amortization (EBITDA) ? 7,111 9,041 Earnings from operations (EBIT) ? 4,152 3,859 Earnings before taxes (EBT) ? 3,487 3,099 Consolidated income attributable to shareholders of Muehlhan AG ? 1,375 1,088 Earnings per share from continuing operations ?in EUR 0.12 0.06 Cash flow from operating activities ? -1,690 4,699 Investments in property, plant and equipment (not incl. leases) ? 1,170 2,636 ? ? ? ? Balance sheet ? June 30, 2022 Dec. 31, 2021 Total assets ? 161,880 147,948 Fixed assets1 ? 37,280 38,357 Equity ? 67,058 77,336 Equity ratio ?in % 41.4 52.3 ? ? ? ? Employees ? 1st half of 2022 1st half of 2021 Employees (annual average) ?number 2,087 2,842

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1?Fixed assets: total of non-current assets less deferred tax assets.

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About Muehlhan: Worldwide, Muehlhan Group is a reliable partner in industrial services. We offer our customers a broad spectrum of industrial services with professional industrial quality standards. Our customers benefit from our exceptional organizational skills, on-time delivery, the technical expertise that differentiates us from our competitors, and our 140 years of experience. We have an established market presence in the four business segments in which we operate: Renewables, Ship, Construction/Infrastructure and Oil & Gas. Muehlhan AG is a listed company and is traded on the Open Market under ISIN DE000A0KD0F7.

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You can find additional information at www.muehlhan.com

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Contact: Muehlhan AG; phone: +49 40 75271-166; e-mail: investorrelations@muehlhan.com

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Language: English Company: Muehlhan AG Schlinckstrasse 3 21107 Hamburg

Germany Phone: +49 40 75271 0 Fax: +49 40 75271 130 E-mail: investorrelations@muehlhan.com Internet: www.muehlhan.com ISIN: DE000A0KD0F7 WKN: A0KD0F Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1409297 ? End of News DGAP News Service

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