Miba Achieves Strong Growth and Invests in Expansion

Austrian tech firm Miba reports 8% growth, invests €15M in expansion, and focuses on sustainable tech like wind energy and EVs, showcasing the potential for businesses to thrive while contributing to a greener future.

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Nitish Verma
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Miba Achieves Strong Growth and Invests in Expansion

Miba Achieves Strong Growth and Invests in Expansion

Austrian technology group Miba has reported impressive results for the 2023/24 financial year, achieving 8% growth and a turnover of 1.2 billion euros. The company's strong performance has enabled it to invest 15 million euros in the expansion of its Kirchbach, Styria plant, creating 40 new jobs.

Miba's CEO, F. Peter Mitterbauer, expressed confidence in the company's strategic positioning, stating that Miba has tripled its sales revenue in the last 15 years and doubled it in the last 10 years. The company's focus on 'Technologies for a cleaner planet' has been a key driver of its growth, with sales in the wind energy and electric vehicle battery technology sectors tripling in the past two years.

The majority of Miba's revenue, 60%, comes from the industrial goods market, while 40% is generated in the automotive industry. The company's strong financial position, with an equity ratio of 53.8% in the past financial year, has enabled it to invest around 130 million euros annually, including 84 million euros in production sites, 43 million euros in research and development, and 3 million euros in employee training and development.

Why this matters: Miba's growth and investment in sustainable technologies demonstrate the increasing importance of clean energy solutions in the industrial and automotive sectors. The company's success highlights the potential for businesses to thrive while contributing to a more environmentally friendly future.

Miba's commitment to innovation is evident in its patent leadership, with the company registering 48 new patents in Upper Austria in 2023, 21 of which were for eMobility. The company employs a total of 7,622 people across 29 locations in Europe, Asia, North and South America, with 2,976 of them based in Austria. Miba is also investing in the future of its workforce by building a new training and further education center at its Laakirchen site.

Key Takeaways

  • Miba reported 8% growth and €1.2B turnover in 2023/24 financial year.
  • Miba invested €15M to expand its Kirchbach plant, creating 40 new jobs.
  • Miba's focus on clean tech tripled sales in wind and EV battery sectors.
  • Miba has 53.8% equity ratio, investing €130M annually in production, R&D.
  • Miba registered 48 new patents in 2023, 21 for eMobility, employing 7,622.