EANS-Adhoc: Mühlbauer registers a growth in turnover in the second quarter of 2012 - order income persists at a high level - free cashflow with significant increase - gross earnings margin dropped due

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6-month report/Mühlbauer with enormous increase in sales

09.08.2012

Roding, 09 August 2012 - Overall, the globally active Mühlbauer
technology group asserted itself well within an ever harsher market
environment and managed to keep order income at a high level - with
the support of the booming Tablet PC and Smartphone market, as well
as the strong demand for technology solutions for the production of
RFID Smart Labels. In parallel, sales rose considerably, as a result
of continually clearing the order backlog.

Sales. The consolidated sales achieved by the Mühlbauer Group in Q2
2012 recorded tremendous growth year-on-year, with a plus of EUR 19.6
million or 46.5 %, to EUR 61.5 million (PY: EUR 41.9 million). This
marked increase is due both to the company's core area Cards &
TECURITY®, which raised its share in sales by EUR 13,9 million or
67.2 % to EUR 34.5 million (PY: EUR 20.6 million) and Semiconductor
Related Products, which also developed positively with an increase in
sales of EUR 5.7 million or 39,9 % to EUR 20.0 million (PY: EUR 14.3
million). This massive growth can primarily be attributed to the
semiconductor backend business. Precision Parts & Systems proved
stable: As in Q2 2011, sales totaled EUR 7.0 million.

Earnings development. Due to the liquidity neutral adjustment of the
risk provision in inventory assets to the current market and economic
environment, the gross earnings margin dropped from 38.3% to 25,6%.
Against this background, earnings before interest and taxes (EBIT)
amounted to EUR 1.3 million, after EUR 2.3 million for the same
quarter of the previous year. This corresponds to an EBIT margin of
2.1%, after 5.4% year-on-year. During the reporting period, the share
of profit applicable to each share totals EUR 0.16, after EUR 0.13
year-on-year.

Cashflow. The liquidation of stocks as well as higher downpayments in
respect of ID projects led to a significant reduction of the working
capital by EUR 8.6 million and to an operativ Cashflow of plus EUR
19.8 million in the first half of 2012 (PY: +EUR 15.3 million). After
the deduction of planned expenditures on investments amounting to EUR
18.8 million (PY: EUR 12.9 million), the free cashflow generated by
the solutions provider in the first six months is up to plus EUR 0.9
million - after minus EUR 2.6 million in the same period of the
previous year. The equity ratio is 61.4% at the end of the quarter,
compared to 68.1% on December 31, 2011.

Order income and order backlog. At EUR 78.3 million, consolidated
order income is 17.1 % lower, however, compared with the
second-highest value in the Group's history of EUR 94.5 million,
achieved during the same quarter of the previous year, it is still at
a high level. In this context, Semiconductor Related Products
compensates for more than half of the decline in orders in the core
area Cards & TECURITY® through the concentration of further
govern-ment orders worth approx. EUR 45 million - also issued to a
group company and insofar in-cluded on a pro-rata basis - at the
beginning of July. At EUR 226.0 million, consolidated or-der backlog
was 9.0 % higher year-on-year (PY: EUR 207.3 million), thus marking a
new record in corporate history.

Outlook. Global economic prospects deteriorated even further in Q2
2012. In Europe, in particular, the debt crisis is increasingly
slowing down the economy. In addition, the competitive pressure from
Asia and the recent distinct downward trend of the semiconductor
industry have prompted the company to act more cautiously overall, in
order to stably pilot the business, which is based on sustainability,
through increasingly difficult waters. While sales de-velopment is
meant to pick up speed during the second half of the year and ensure
that total annual sales are higher year-on-year, operating income
will not reach the original goal, namely a year-on-year increase of
earnings - irrespective of the expected boost in 2HY 2012 against 1HY
2012. This boost is to be derived from the adjustment of the risk
evaluation to the current environment. The company is now expecting
to achieve an operating margin in the middle to upper single-digit
percent range in respect of the entire year.

The medium- and long-term prospects on the markets relevant to
Mühlbauer, however, remain positive, overall. Mühlbauer therefore
intends to ramp up its efforts considerably in order to benefit
strongly from this situation and to improve its 2013 earnings
situation significantly.

Further inquiry note:
Benedikt Geißler
Investor Relations
Tel.: +49 9461 952 - 1653
E-Mail: benedikt.geissler@muehlbauer.de

end of announcement euro adhoc
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issuer: Mühlbauer Holding AG & Co.KGaA
Josef-Mühlbauer-Platz 1
D-93426 Roding
phone: +49(0)9461-952-1653
FAX: +49(0)9461-952-8520
mail: investor-relations@muehlbauer.de
WWW: http://www.muehlbauer.de
sector: Machine Manufacturing
ISIN: DE0006627201
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English