MIFA Mitteldeutsche Fahrradwerke AG: Revenue and earnings up in H1

(PresseBox) ( Sangerhausen, )
MIFA Mitteldeutsche Fahrradwerke AG (ISIN DE000A0B95Y8, German Securities Code (WKN) A0B95Y) sold more bicycles in the first six months of the current fiscal year than in the first half of 2006, thus reinforcing its position on the market. The company sold around 642,000 bicycles, up 34.3% compared to June 30, 2006, when this figure totaled 478,000 bicycles sold.

The company's revenue increased accordingly from € 59.66 million to € 78.93 million (up 32.3%). EBIT lifted by around 46.8% and totaled € 5.68 million in the first six months – up € 1.81 million than in the comparable period of the previous year (€ 3.87 million). EBT correspondingly totaled € 4.72 million in the first six months and was thus up on the H1 2006 figure of € 3.19 million (up 48%). The EBIT margin for the first half of the year improved to 7.2% (June 30, 2006: 6.5%). Net income for the first six months of fiscal year 2007 totaled € 2.87 million and is thus up 47.9% year on year. Earnings per share increased correspondingly (with a current total of 8 million shares in circulation) to € 0.35 (previous year: € 0.32 with 6 million shares).

This growth was driven by a strong second quarter, when a large number of existing customers and some new customers ordered a larger grand total of bicycles from MIFA. MIFA was also able to acquire key orders from foreign countries including France, Denmark, The Netherlands and Austria.

MIFA Mitteldeutsche Fahrradwerke AG plans to publish its full half-yearly report on August 30, 2007 on its own Web site www.mifa.de in the Investor Relations section.
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