DGAP-News: Masterflex AG: Successfull Annual General Meeting
(firmenpresse) - DGAP-News: Masterflex AG / Key word(s): AGM/EGM
Masterflex AG: Successfull Annual General Meeting
20.06.2012 / 13:55
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Press Release
Masterflex AG: Successful Annual General Meeting
- Transformation into SE resolved by large majority
- Forecast for 2012 confirmed
Gelsenkirchen, 20 June 2012 - Masterflex AG has confirmed its revenue and
earnings forecasts for 2012 at its Annual General Meeting in Gelsenkirchen
on 19 June. Provided that there are no dramatic negative developments in
the global economy, the Executive Board is anticipating a rise in revenue
of between 8% and 10% to between EUR 57 million and EUR 58 million in the
current year with EBIT of around EUR 8.0 million. Over the year, this would
mean an EBIT margin of 14%.
Masterflex met these forecasts in the first three months of 2012 with
revenue of EUR 14.5 million and EBIT of EUR 2.1 million. This corresponds
to an EBIT margin of 14.6%. 'The initial results for 2012 clearly show that
our business model is highly profitable despite the upfront costs incurred
for internationalisation,' said CEO Dr. Andreas Bastin in his speech to the
Annual General Meeting.
The Management Board believes that the business model has good prospects in
the medium term. 'We are anticipating organic growth of 8% to 10% per year,
even if this will not be possible in the markets on which we are currently
operating. But our two growth pillars, product innovations and
international expansion, will carry us here,' continued Bastin. 'In
addition, we can also imagine acquisitions in hose business in future, if
this would allow us to extend our product portfolio of high tech hoses
technologically or to fill in the gaps on our map.'
The shareholders approved the transformation of the company into the legal
form of an SE, Societas Europaea, with a large majority (99.79% of the
42.70% of share capital present). Thus, the process of achieving this legal
form - one that is becoming increasingly significant on the international
stage - will continue.
There was also broad approval at the Annual General Meeting for the other
items on the agenda - approval of the executive bodies and the election of
the auditor.
Item Share capital Aye Nay ResolutionThe results have been published in detailed on the website at Investor
represented
Approval of Management 38.06% 99.95% 0.05% Accepted
Board
Approval of Supervisory 39.44% 99.88% 0.12% Accepted
Board
Election of auditor 42.69% 99.64% 0.36% Accepted
Transformation into SE 42.70% 99.79% 0.21% Accepted
Relations/Annual General Meeting 2012 (www.masterflex.de)
The Masterflex Group is a specialist in the development and production of
high-quality connector and hose systems. With 13 operating units in Europe,
America and Asia, the Group is represented almost all over the world. Its
growth is driven by internationalisation and innovation. Masterflex shares
have been listed as Prime Standard on the German stock exchange since 2000.
Contact: Dr. Annette Littmann, annette.littmann(at)masterflex.de
Phone + 49 209 970 77 44
End of Corporate News
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20.06.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Masterflex AG
Willy-Brandt-Allee 300
45891 Gelsenkirchen
Germany
Phone: +49 (0)209 97077-44
Fax: +49 (0)209 97077-20
E-mail: annette.littmann(at)masterflex.de
Internet: www.masterflex.de
ISIN: DE0005492938
WKN: 549 293
Indices: Prime all share
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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174730 20.06.2012
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Datum: 20.06.2012 - 13:55 Uhr
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