euro adhoc: Mühlbauer Holding AG & Co.KGaA / quarterly or semiannual financial statement / 'Ad-hoc message pursuant to § 15 WpHG' SmartID catching up strongly

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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31.10.2006

Roding, October 31, 2006 - The Muehlbauer technology group,
international and independent consultant and manufacturer of
innovative security solutions for the TECURITY® market, continued its
push ahead during the reporting period. While the order book
increased by 23.4% to EUR 21.2 million (17.2) over the previous year,
due to the strong demand for the range of solutions from the Cards &
TECURITY® area, located within the company’s core business area
SmartID, the overall order book grew by 20.6% to EUR 36.9 million
(30.6). On a nine-month comparison of the SmartID area, the company -
at EUR 65.2 million (70.2) - lags only 7.2% behind the order income
of the previous year, which benefited from the strong demand for
Smart Label technologies. With regarded to the consolidated order
income of EUR 125.1 million (115.8) it is in fact 8.1% ahead in the
nine-month comparison.

Thus, the company once again succeeded in compensating for temporary
volatility through market diversification. Due to temporary delays in
governments projects, sales have so far not benefited from this
positive development and, at EUR 37.1 million (41.6), lagged the
previous year’s value by 10.7%. As a result of the different product
mixes in the periods under comparison, at EUR 8.6 million (11.2),
earnings before interest and taxes (EBIT) were 23.8% below the
comparative value of the previous year, which still corresponds to a
high EBIT rate of 23.0% (27.0). In contrast, earnings before taxes
(EBT) were spurred by the extremely positive rate of net interest
income (EUR 1.6 million, PY: 0.8) and reached a level of EUR 10.2
million (12.0) during the reporting period. This corresponds with an
extremely positive pretax profit margin of 27.4% (28.8). After
deduction of taxes, a further EUR 6.8 million (7.9) can be
transferred to retained earnings; this corresponds to earnings per
share of EUR 0.47 (0.54). On a nine-month comparison, Muehlbauer
increased sales by 5.9% to EUR 114.8 million (108.4). In the same
period, EBIT rose 7.7% to EUR 24.9 million (23.1), while earnings per
share increased by a total of 15.3% to EUR 1.28 (1.11).

As a result of scheduled investments, free cashflow in the reporting
period amounted to EUR -4.0 million (-5.6). In the nine-month
comparison free cashflow was virtually balanced at EUR -0.5 million
(+9.3). Net working capital rose from EUR 31.2 million to EUR 41.8
million, due in particular to the further diversification of
products. At the end of the reporting period the Group’s net cash
amounted to EUR 41.9 million (43.0). The equity ratio was 78.4%,
compared with 75.2% in the previous year.

In addition to the positive development of Muehlbauer’s core business
area SmartID, the areas Traceability as well as Precision Parts and
Systems managed to post significantly more orders than in the same
period of the previous year. While Traceability’s order income rose
46.5% to EUR 3.8 million (2.6), order income in Precision Parts and
Systems shot up 57.6% to EUR 4.5 million (2.8). As a consequence, the
weakness in the semiconductor industry recorded during the reporting
period and the resultant decline of order income in Semiconductor
Related Products to EUR 7.4 million (8.0) was more than compensated
for. The order backlog still stands at a high level: on 30 September
2006 it stood at EUR 89.1 million and is thus 25.4% higher
year-on-year (71.1).

The market’s mood for technology solutions from the Cards & TECURITY®
area is good. Due to the market’s great interest in implementing
security-oriented identification systems and innovative card
applications, the company expect a further boost to the business over
the next months. Here the expectation is based on the excellent
market position, the range of solutions that is unique in the world,
and the high number of reference projects that recommend Muehlbauer
as a reliable partner for governments and authorities of other
states. The positive trend in Smart Labels experienced in the first
two quarters of the financial year has continued in the reporting
period. While the market was, in the past, controlled by only a few
major players from certain countries, a shift towards a broader
customer base in other countries can be noted. With the comprehensive
range of solutions, based in the SmartID area and consisting of
innovative products, user-oriented software solutions and a distinct
proximity to the customers, the Muehlbauer technology group consider
itself in an excellent position to benefit strongly from the market
potential relevant to it.

The figures in brackets represent the comparable period of last year,
if not stated otherwise. Please find the complete quarterly report on
the Internet at www.muehlbauer.de.

Contact and additional information: Investor Relations, Tel.: +49 (0)
9461-952-1653, Fax: +49 (0) 9461-952-8520,
investor-relations@muehlbauer.de, Mühlbauer Holding AG & Co. KGaA,
Josef-Mühlbauer-Platz 1, 93426 Roding, Germany, www.muehlbauer.de.

end of announcement euro adhoc 31.10.2006 06:58:00
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ots Originaltext: Mühlbauer Holding AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Hubert Forster
CFO
+49(0)9461-952-141
hubert.forster@muehlbauer.de

Branche: Machine Manufacturing
ISIN: DE0006627201
WKN: 662720
Index: Nemax 50, CDAX, Prime All Share, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade


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euro adhoc: Mühlbauer Holding AG & Co.KGaA / quarterly or semiannual financial statement / 'Ad-hoc message pursuant to § 15 WpHG' SmartID catching up strongly - great interest of market in Cards & TEC