MIFA Mitteldeutsche Fahrradwerke AG (ISIN DE000A0B95Y8, German Securities Code (WKN) A0B95Y) recorded revenues of EUR 105.53 million in fiscal year 2007, thus up 36.1% on the previous year (2006: EUR 77.55 million). In addition, foreign sales increased substantially to 8.2% (previous year: 5.5%). In absolute terms, foreign revenues more than doubled to EUR 8.7 million. In total, the company sold around 850,000 bicycles compared to 637,000 units in fiscal year 2006 (+33.4%). Gross profits on sales amounted to EUR 24.53 million (previous year: EUR 16.56 million), thus up approx. 48%. The company recorded EBIT totaling EUR 0.61 million compared to EUR 2.15 million in the previous year, and thus an EBIT margin of 0.58%. EBT amounted to EUR -1.86 million compared to EUR 0.77 million, and the equity ratio totaled 34.6%. The net loss for the year thus totaled EUR -1.43 million or EUR -0.18 per share (with 8,000,000 shares).
Revenues increased slightly faster than the volume sold as a result of the change in the product mix resulting from the acquisition of BIRIA assets. Despite this positive development there was also intense competition in fiscal year 2007, with MIFA being confronted by strong price pressure on the market. Above all, earnings were depressed by one-off extraordinary factors totaling EUR 4.2 million from the integration of gatus 233. GmbH (assets of BIRIA).
Earnings will improve over the medium term as a result of the investments made.
MIFA Mitteldeutsche Fahrradwerke AG will soon publish its full annual report on its own Web site www.mifa.de in the Investor Relations section.
Revenues increased slightly faster than the volume sold as a result of the change in the product mix resulting from the acquisition of BIRIA assets. Despite this positive development there was also intense competition in fiscal year 2007, with MIFA being confronted by strong price pressure on the market. Above all, earnings were depressed by one-off extraordinary factors totaling EUR 4.2 million from the integration of gatus 233. GmbH (assets of BIRIA).
Earnings will improve over the medium term as a result of the investments made.
MIFA Mitteldeutsche Fahrradwerke AG will soon publish its full annual report on its own Web site www.mifa.de in the Investor Relations section.
