euro adhoc: Mühlbauer Holding AG & Co.KGaA / quarterly or semiannual financial statement / 'Ad-hoc message pursuant to § 15 WpHG' Despite moderate start in Q1, Mühlbauer Group forecasts continuing pos

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3-month report

25.04.2007

Roding, April 26, 2007 - Mühlbauer Holding AG & Co. KGaA quoted on
the Prime Standard and worldwide active independent advisor and
manufacturer of innovative security solutions for the TECURITY®
market, forecasts a continuation of the overall positive business
development in the further course of the year despite the moderate
start into 2007 and remains optimistic about its ability to top last
year’s sales once again.

The technology group’s sales decrease to EUR 34.6 million ,
corresponding to a decline of 7.5% as compared to the same quarter of
the previous year (37.4), was largely attributable to numerous
project postponements. Results were also impacted by the significant
increase in production cost and investments made for the setting up
of new locations abroad, where expenses are not set-off by earnings
during the start-up phase. Therefore, the Mühlbauer technology group
achieved earnings before interest and taxes (EBIT) of EUR 3.9 million
in the reporting period, 4.0 million less than in the same quarter of
the previous year (7.9). Earnings before taxes amounted to EUR 4.2
million and benefited from the positive financial result of EUR 0.2
million (0.6), however, they fell significantly short of the previous
year’s value of EUR 8.5 million. In the first quarter, the profit
margin came to 12.1% as compared to 22.8% in the previous year. Net
earnings came to EUR 2.5 million (5.6), which corresponds to basic
earnings of EUR 0.16 per share (0.39).

At EUR -0.1 million, free cashflow was EUR 1.6 million below the
level of the previous year (+1.5), largely due to outflows for last
year’s modernization and extension of the asset portfolio, as well as
investments for the set-up of the new development and production
location in Malaysia. At EUR 46.1 million, working capital virtually
remained the same year-on-year (45.5). The equity ratio came to 80.2%
and thus hovered at the level of the previous year (80.1%).

The order income of the Mühlbauer group amounted to EUR 33.7 million
(37.8) in the first quarter, a decline of 10.6% in comparison to the
previous year’s quarter. While Mühlbauer in its core business SmartID
was able to benefit from the predominant interest in the Cards &
TECURITY® sector and slightly expand its order income with EUR 17.8
million (17.6), the order income in the Semiconductor Related
Products area amounted to EUR 7.7 million and thus remained below
last year's level (12.2), which was characterized by the acquisition
of numerous technology solutions. The area Traceability was not quite
able to achieve the high order standard of the previous year (3.8),
but noted a similar level at EUR 3.4 million. Meanwhile, the area
Precision Parts & Systems further continued its positive development
and generated an order income of EUR 4.8 million EUR (4.2). This
corresponds to an strong plus of 15.3% as compared to the same period
of the previous year. At the end of the reporting period, the order
backlog was at EUR 75.8 million (80.8), 6.3% short of last year's
value.

Due to the preparedness of many states to make major investments for
the implementation of reliable technology and software solutions for
the implementation of security-oriented ID systems Mühlbauer expects
an increasing demand in its core area SmartID. Growth potential for
RFID-Smart Labels is undisputed as well. With our mature technology
solutions for the production of RFID Smart Labels, the company can
see an opportunity to benefit strongly from the intensification of
growth expected in this area. In the further course of the year,
technology group expect the overall positive business development to
continue. Subject to timely decision and prompt implementation of ID
projects planned globally, Mühlbauer is optimistic about its ability
to top last year’s sales based on our good positioning in the market.

Contact and additional information: Investor Relations, Tel.: +49 (0)
9461-952-1653, Fax: +49 (0) 9461-952-8520,
investor-relations@muehlbauer.de, Mühlbauer Holding AG & Co. KGaA,
Josef-Mühlbauer-Platz 1, 93426 Roding, Germany, www.muehlbauer.de.

end of announcement euro adhoc 26.04.2007 08:30:00
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ots Originaltext: Mühlbauer Holding AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Hubert Forster
CFO
+49(0)9461-952-1141
hubert.forster@muehlbauer.de

Branche: Machine Manufacturing
ISIN: DE0006627201
WKN: 662720
Index: Nemax 50, CDAX, Prime All Share, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
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