Mühlbauer achieves strong results

German security document player Mühlbauer has seen its sales climb 44.8% to EUR 44.4 million thanks to growth in all its business areas.

The company recorded the greatest increase in sales (58.5%) in its restructured core business area Cards & TECURITY (an in-house phrase covering technologies for the production of all types of card and ePassport).

Earnings before interest and taxes (EBIT) almost doubled year-on-year, at EUR 7.5 million. Meanwhile, working capital climbed EUR 6.6 million to EUR 52.7 million.

The company said that demand for its technology solutions and products continued unabated in Q2. The company noted new orders worth EUR 54.2 million, including a large order from a European country worth EUR 12.6 million.

Mühlbauer said it expect growth to continue, especially in the area of ID projects and thanks to increasing demand for EMV bank cards and GSM/SIM cards.