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In 2027, Miba AG, headquartered in Laakirchen (district of Gmunden), will be 100 years old. To this end, the leading company specializing in industrial goods and the automotive sector has set itself an ambitious goal: the group’s turnover should reach 1.5 billion euros in four years.
The company sees itself well prepared for the way there: In the past fiscal year (as of January 31), sales exceeded the billion mark for the first time. Specifically, there was an increase of 15 percent to 1.114 billion euros, the family business announced yesterday, Friday. No results were given.
According to Miba, two factors drove growth in the previous year: higher prices due to inflation and increases in product volumes. Both have – seen in total – each increased sales in equal parts, it is said. The company specializes in plain bearings, friction linings, sintered components and coatings, among other things. These are used in power plants, construction and agricultural machinery, airplanes and cars.
The fact that companies and private individuals are pushing the energy transition plays into the hands of the people of Laakirch. The decarbonization and electrification trends offer opportunities, says Miba boss F. Peter Mitterbauer, grandson of company founder Franz Mitterbauer and CEO since July 2013.
The CEO sees potential in wind power: Miba supplies, for example, friction linings to brake the rotor blades of wind turbines and milling systems for assembling large pipe elements for offshore wind farms.
Although the group’s total sales are growing after a decline during the corona pandemic, there are shifts in the business areas: Miba became large as a supplier to the automotive industry. In 2019, before the pandemic, the revenues were divided equally between the automotive and industrial goods sectors. In the past fiscal year, the car share was 41 percent. Industrial goods accounted for 59 percent.
Equity ratio increased
Miba expects this development to continue over the next few years – even though the company is focusing on electromobility, for example. Since 2016, around 80 million euros have been invested in the development and expansion of this business area, which is still a niche area overall. As reported, the supplier’s first battery factory opened up in Bad Leonfelden in October. Batteries for snow groomers, motorcycles and robots are produced there.
According to Mitterbauer, the equity ratio, which has risen from 50.5 to 52.8 percent, also creates scope for growth. Group-wide, Miba has 7,546 employees at 29 locations, 2,847 of them in Austria. Around 100 new employees are to strengthen the workforce in Germany this year.
Source: Nachrichten
