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EQS-News: Muehlhan AG / Key word(s): 9 Month figures
Muehlhan AG: Muehlhan AG publishes results for first nine months of 2023
2023-10-27 / 08:54 CET/CEST
The issuer is solely responsible for the content of this announcement.
PRESS RELEASE

Muehlhan AG publishes results for first nine months of 2023
. Performance considerably behind expectations
. Revenues of EUR8.7 million, EBIT of EUR-3.1 million
. Withdrawal from stock market (delisting) announce
Hamburg, October 27, 2023-From January through September 2023, Muehlhan AG (Open Market; ISIN DE000A0KD0F7; WKN A0KD0F)
generated revenues of EUR8.7 million. Of this amount, EUR5.7 million was attributable to activities in Russia and
EUR2.5 million to the Middle East. EBIT (earnings before interest and taxes) came out negative at EUR-3.1 million. The
income attributable to shareholders of Muehlhan AG after nine months was EUR-2.5 million. Cash flow from operating
activities nearly broke even at EUR-0.2 million thanks to a positive special effect. A comparison with the prior-year
results does not make sense due to the sale of numerous subsidiaries at the end of 2022.
Following slightly positive results in the first few months of the year, EBIT in Russia for the period January to
September was then slightly negative at EUR-0.2 million. The effects of the sanctions imposed due to Russia's war of
aggression against Ukraine led to lower revenues and, at the same time, higher costs, for example, for the procurement
of materials. In the Middle East, EBIT of EUR-1.3 million was generated as a result of the significant decline in
revenues caused by project start-up costs and costs for the resumption of activities. In the first half of 2023,
Muehlhan AG also incurred substantial non-recurring expenses in connection with the settlement of the sale of key
subsidiaries last year, the share buyback program, and the provision set up for a legal dispute.
For the 2023 financial year as a whole, the Executive Board and Supervisory Board expect to see revenues of between
EUR10 million and EUR15 million and EBIT of EUR-3.5 million to EUR-4.0 million.
Muehlhan AG has announced its withdrawal from the stock market (delisting). The last trading day will be December 27,
2023.
With effect from October 31, 2023, Mr. Gautam Arya will step down as a member of the Executive Board of Muehlhan AG.

The company's key performance indicators are shown in the following table:
in kEUR First 9 months of 2023 First 9 months of 2022

Results

Revenues                                                                                8,703                203,770 
Earnings from operations (EBIT)                                                        -3,121                  9,317 
Consolidated income attributable to shareholders of Muehlhan AG                        -2,463                  4,022 
Earnings per share from continuing operations*                  in EUR                  -0.13                   0.21 
Cash flow from operating activities                                                      -157                  2,095 

Balance sheet                                                              September 30, 2023      December 31, 2022 
Total assets                                                                           42,616                 78,458 
Equity                                                                                 32,234                 64,483 
Equity ratio                                                     in %                    75.6                   82.2 

Employees                                                              First 9 months of 2023 First 9 months of 2022 
Employees (annual average)                                      number                    434                  2,187 

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* Calculated on the basis of 19,500,000 shares, less treasury shares.

About Muehlhan: Muehlhan AG is a listed corporation traded on the Open Market of the Frankfurt Stock Exchange (ISIN: DE000A0KD0F7 / WKN A0KD0F).

You can find additional information at www.muehlhan-ag.com

Contact: Muehlhan AG; phone: +49 40 75271-0; e-mail: investorrelations@muehlhan.com

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2023-10-27 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com

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Language:     English 
Company:      Muehlhan AG 

Schlinckstrasse 3
21107 Hamburg
Germany

Phone:        +49 40 75271 0 
Fax:          +49 40 75271 130 
E-mail:       investorrelations@muehlhan.com 
Internet:     www.muehlhan.com 
ISIN:         DE000A0KD0F7 
WKN:          A0KD0F 
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, 

Tradegate Exchange
EQS News ID: 1755505

End of News EQS News Service
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1755505 2023-10-27 CET/CEST

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END) Dow Jones Newswires

October 27, 2023 02:54 ET (06:54 GMT)