MIFA To Realize ‘Strategic Acquisitions
SANGERHAUSEN, Germany – At last week’s shareholders meeting its was decided that MIFA’s 2012 earnings will be used for further growth of Germany’s biggest (in volume terms) bike maker.
MIFA wants to expand and the shareholders meeting authorized the company to increase its capital from previously 2.2 million euro to 4.9 million. 50 % of that capital is to be used to realize strategic acquisitions. The company was also authorized to repurchase its own shares up to 10 % of its current share capital over the next five years.
2012 new beginning
MIFA CEO Peter Wicht explained the company’s business model and medium-term strategy to his shareholders. He said: “2012 was a year of new beginnings for MIFA, when we took a decisive step forward on our transition from volume to brand manufacturer. We have also been making inroads into the high-margin specialist dealer business since the current bicycle season with our GRACE and Steppenwolf premium brands, and we anticipate tangible impulses for as early as 2013.”
Wicht confirmed the outlook for the 2013 financial year: “We are confident that we can achieve sales revenue of between 120 million and 130 million euro, and an EBIT margin between 4 and 5 %.”