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euro adhoc: Mühlbauer Holding AG & Co.KGaA / Quarterly or Semiannual Financial Statements / Mühlbauer announces Third Quarter Results - significant increase in earnings and liquidity - (E)

Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.

Roding, November 04, 2003 - Mühlbauer Holding AG & Co. KGaA , worldwide supplier of innovative technology solutions for security industries, again could confirm its profitability considerably in the third quarter of 2003 and increase it’s earnings before interests and taxes (EBIT) by 23.9 % to EUR 2.1m (1.7).

Earnings before taxes (EBT) even increased EUR 166.3 % to 2.3m (0.9), due to a positive interest result. Profit margin reached 9.9 % (3.9) in Q3. Net earnings enlarged by 174.2 % to EUR 1.7m (0.6). Earnings per share (EPS) amounted to EUR 0.10 (0.06). Compared to 9M 2002, Mühlbauer could not only increase its EBIT by 81.5 % to EUR 5.1m (2.8), but has also already exceeded the entire 2002 ordinary net income by more than 30 %. EBT could be tripled to EUR 5.4m (1.6), EPS more than doubled to EUR 0.24 (0.11) compared to 9M 2002.

Based on consistently reduced Working Capital - a decrease of 12.5 % to EUR 44.8m (51.2) compared to September 30, 2002 - the Free Cash Flow was improved to EUR 5.2m, despite planned investments of EUR 3.4m (2.2) for the first nine months of 2003. Despite a considerable increase in sales, Working Capital was reduced by approximately EUR 14.4m since December 31, 2001. Gross cash position as of September 30, 2003 totalled EUR 22.8m (14.7).

Order income increased by 3.5 % to EUR 22.4m (21.7) in the third quarter, totalling an increase of 18.2 % to EUR 73.3m (62.0) for the first nine months of 2003. Order backlog, as of September 30, 2003, generated EUR 31.5m (37.8). Sales grew by 4.8 % to EUR 23.1m (22.1) in the third quarter. On the nine month basis, sales increased by 9.6 % to EUR 69.8m (63.7).

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As the world-wide demands for chip-based, security orientated ID-solutions are growing, Mühlbauer technology group continues its strategy to become a world-wide leading supplier of complete solutions for the whole value chain of the Smart Card and Smart Label production. This will be achieved without neglecting the companies growing offer spectrum in related branches.

With the planned expansion of the world-wide distribution channels, Mühlbauer continues to increase and accelerate it’s future market penetration. Meantime, by the increase in development speed for new technologies, the company possesses a wide basis of innovative and flexible production systems. Mühlbauer sees itself technologically very well set up to continue its profitable growth and to open up further world-wide growth potential.

Mühlbauer is a leading supplier of innovative and mature technological ID-solutions for security industries with 19 branches worldwide. Mühlbauer develops and manufactures machinery to produce smart cards (multi application chip cards) and smart labels (intelligent labels) and is the only company in the world that offers a full range of turn-key solutions from the chipbonding process to the personalization process.

The complete quarterly report Q3/2003 is available at http://www.muehlbauer.de. Further information:
Investor Relations, Tel.: +49 (0) 9461-952-653, Fax: +49 (0) 9461-952-8520, investor-relations@muehlbauer.de, Muehlbauer Holding AG & Co. KGaA, Werner-von-Siemens-Str. 3, D-93426 Roding, www.muehlbauer.de.

Further inquiry note:
investor relations
Tel: +49(0)9461-952-0
FAX: +49(0)9461-952-788
Email: investor-relations@muehlbauer.de

Emittent: Mühlbauer Holding AG & Co.KGaA Werner-von-Siemens-Str. 3 DE-93426 Roding Tel: +49(0)9461-952-0 FAX: +49(0)9461-952-788 Email: investor-relations@muehlbauer.de WWW: http://www.muehlbauer.de ISIN: DE0006627201 WKN: 662720

end of announcement euro adhoc

Indizes: CDAX, Nemax 50, Prime All Share, Prime Standard, Technologie All Share
Börsen: regulated dealing Frankfurter Wertpapierbörse; free trade Niedersächsische Börse zu Hannover, Berliner Wertpapierbörse, Bayerische Börse, Hamburger Wertpapierbörse, Bremer Wertpapierbörse (BWB), Börse Düsseldorf, Baden-Württembergische Wertpapierbörse Branche: Machine Manufacturing
Sprache: Englisch