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Muehlhan AG: Correction to the Group forecast for financial year 2023

Hamburg, July 12, 2023 — Muehlhan AG (Open Market; ISIN DE000A0KD0F7; WKN A0KD0F) (the “company”) hereby announces that the Group’s forecast for the 2023 financial year is being corrected.
In the 2022 Annual Report published on April 14, 2023, revenues of €15 million to €20 million and EBIT break-even were forecast for the 2023 financial year.
The company now expects revenues to come in at between €10 million and €15 million, and EBIT between €-2.0 million and €-2.5 million.
The main reasons for the forecast correction are unexpectedly lower business activity in the Middle East, and a heavier strain on Russian operations due to the war in Ukraine and sanctions imposed in connection with this.
In addition, the company anticipates that consolidated income will be affected significantly more than previously expected due to one-time effects, particularly in connection with the settlement of the sale of key subsidiaries and other assets in the previous year, as well as costs in connection with the share buyback program. Furthermore, the company expects that the risk indicated in the 2022 Annual Report from the termination of an investment project on the German North Sea coast will come to fruition. The company has made a provision for this purpose.

You can request further information from:

Muehlhan AG
Investor Relations
Frithjof Dorowski
Phone: +49 (0)40 752 71-166

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

Contact: Muehlhan AG; phone: +49 40 75271-0;