In the 2023/24 financial year, Miba once again made significant gains and recorded an increase in annual sales of 8.1 percent to 1.205 billion euros
Laakirchen (OTS) – The Upper Austrian technology group Miba is continuing its long-term growth path. In the past ten years since F. Peter Mitterbauer took over as CEO, their sales have doubled. Over the past 15 years, it has more than tripled – Miba has grown by an average of around eight percent annually during this period, which is twice as fast as the global economy. In the last financial year 2023/24 (February 1, 2023 – January 31, 2024), Miba was able to continue to grow compared to the previous year with a significant increase in sales of 8.1 percent to 1.205 billion euros. This was achieved in a difficult environment that was characterized by economic growth that increasingly lost momentum in many core markets over the course of the year and by international political crises.
The growth came disproportionately from the industrial goods sector, where the company generated 60 percent of its sales. 40 percent came from the automotive business. As of January 31, 2024, Miba employed 7,622 people worldwide, of which 2,976 or 39 percent were in Austria.
Technologies for the energy transition and for clean, environmentally friendly drives
“The growth driver is our corporate mission ‘Technologies for a cleaner planet’,” explains CEO Franz Peter Mitterbauer. “Miba technologies help our customers reduce the CO2 footprint of their products. In our customers’ applications, they are intended to help make the generation, transmission, storage and use of energy even more efficient and therefore more sustainable and environmentally friendly. In this way, we work with our customers to design their products for markets with enormous growth opportunities.”
A few examples show how well this works. For example, Miba’s sales with wind energy customers have tripled in the past two years. Miba technology can be used in brakes, gearboxes, rotor main bearings and in the electronics of wind turbines. Miba also produces machines for building the huge offshore wind towers off the coast. “We are taking advantage of the enormous opportunities presented by the switch to renewable energy,” says Miba boss Mitterbauer. The company is also highly successful with hydropower technologies: Miba is one of the world’s three largest suppliers of so-called hydro-bearings, i.e. plain bearings for hydroelectric power plants.
Sales of technologies for battery-electric vehicles have also tripled within two years. Above all, high-tech resistors for e-vehicles and battery technologies are driving this growth. There has also been a strong increase in sales in recent years for products for efficient, low-consumption and environmentally friendly drives for ships and railways.
48 new patents last year, 21 of which were for eMobility
Miba’s enormous innovative strength creates the basis for working with its customers to reduce CO2 and develop sustainable products. As the latest figures from the Austrian Patent Office show, the Miba Group companies registered 48 new patents and utility models in the previous year alone, 21 of them for eMobility. For the third time in a row, Miba is both the patent leader in Upper Austria and in the Austria-wide ranking among the top 3 companies with the most patent applications. In total, the company holds 422 patents and 300 employees work in research and development.
Almost three million euros were invested in training and further education in the last financial year alone
In order to continue to grow with technologies for the energy transition and sustainable drives, Miba invested 130 million euros in the last financial year alone: 84 million euros in the factory locations, 43 million euros in research and development and almost three million euros in training and development Further training of your employees. “We will continue this investment program in a similar form in the current financial year,” says Franz Peter Mitterbauer. Major ongoing projects include the comprehensive expansion of the production site for resistors in Styria, the construction of new Miba plants in Mexico and China and the establishment of a center for training and further education in Laakirchen. “These enormous investments are made possible thanks to our financial independence and stability. Miba’s equity ratio was a high 53.8 percent in the last financial year,” says Mitterbauer: “With our financial strength and our investments, we are creating the basis for developing the technologies of tomorrow together with our customers, bringing them to series production and in to continue producing in the highest quality. This is how we want to continue to grow successfully.”
About the Miba Group:
Miba AG is one of Austria’s leading industrial and technology companies. With more than 400 active patents, it is one of Austria’s innovation leaders. Miba is represented in all important customer markets worldwide with 29 production sites in Europe, Asia, North and South America. It employs around 7,600 people.
Miba develops and produces functionally critical components for applications along the entire energy value chain. Your products make an important contribution to the efficient and sustainable generation, transmission, storage and use of energy. Sintered parts, plain bearings, friction linings, power electronics components, coatings, battery systems and battery components from Miba can be found worldwide in vehicles, ships, aircraft, construction and agricultural machinery, wind turbines and power grids.
Sales in the 2023/24 financial year amounted to 1.205 billion euros. Miba generated 60 percent of its sales in the capital goods business and 40 percent in the automotive segment.
More information at www.miba.com
Questions & Contact:
Wolfgang Chmelir, company spokesman
Mobil: +43 664 8305 796
Email: wolfgang.chmelir@miba.com