Annual Report 2007 - Muehlhan AG

ManaGeMent divisions share Group ManaGeMent report Group Consolidated FinanCial stateMents
Coverage by analysts expanded
Since the ipo in october of 2006, Muehlhan shares have
been followed by West lb. an additional bank, berenberg
bank, joined in at the end of the 1st quarter of 2007. With
the analysts from both institutions, the company, business
development and prospects were discussed regularly
and in detail during the past fiscal year. in their reports,
both banks come to the conclusion that the Muehlhan
shares are undervalued, and indicate significantly higher
price targets. in addition to initial studies, both banks
create updates on a regular basis and make them
available to their own sales forces for internal use, as is
customary in this context.
in the future, Muehlhan aG will expand the information
it offers to its investors and interested parties by means
of an additional research offering: in addition to the
banks already mentioned, the renowned analyst institution
SES research GmbH will provide coverage of
Muehlhan that is generally accessible, above all.
Capital market communications further
improved qualitatively and quantitatively
for Muehlhan aG, the beginning of the 2007 fiscal year was
accompanied by the start of important changes in communications
with the capital market. Since May, the company
has met the growing demands for the type, scope and format
of information that is relevant to the market with the
introduction of international accounting in accordance with
ifrS (international financial reporting Standards). at the
time, a semi-annual report was published for the first time
in the middle of 2007. Since the 3rd quarter, Muehlhan also
exceeds the requirements of Entry Standard, and reports
on a quarterly basis regarding business development for
the Group.
at the end of the fiscal year, Muehlhan introduced a new internet
presence online at www.muehlhan.com. Since then,
investors and other users can access comprehensive and
timely information about the company at a compact and
clear site. all of the website is offered in German and English
and will be updated continuously.
shareholder structure as
of 31 december 2007
portion
in %
portion
in shares
GiVE Maritime & industrial
Services GmbH
Greverath investment
10.33 2,014,000
Verwaltungs- und Erhaltungs-Gbr 23.85 4,650,000
SGCE investments i S.a.r.l 21.19 4,133,000
Management 2.12 413,000
dr andreas C. Krüger 2.07 403,000
Carsten Ennemann 0.05 10,000
free float 42.51 8,290,000
100.00 19,500,000
free float
43%
Management
2%
Key figures for the shares:
Nominal value (arithmetic)
GiVE Maritime &
industrial Services GmbH
10%
GiVE Gbr
SGCE
investments i S.a.r.l.
21%
bearer shares with
no par value
Number of shares issued 19,500,000
initial listing 26 october 2006
issue price Eur 5.80
Highest price (Xetra) 2007 Eur 9.60
lowest price (Xetra) 2007 Eur 3.00
designated Sponsor Westlb aG, düsseldorf
Market capitalization
as of 31 december 2007 Eur 67,665,000
24%
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