DGAP-News: Masterflex AG: Going forward on profitable expansionary course
(firmenpresse) - DGAP-News: Masterflex AG / Key word(s): Half Year Results
Masterflex AG: Going forward on profitable expansionary course
13.08.2012 / 08:00
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Press Release
Q 2: Masterflex continues on profitable expansionary course
- Licence received for China business
- Results of operations stable despite initial costs for the expansion
- Three product innovations launched
Gelsenkirchen, 13 August 2012 - On the basis of the first half of 2012, the
revenue and income of Masterflex AG, global specialist for sophisticated
connector systems made from high-tech plastics, are completely in line with
its planned growth. Revenue rose by 4.0% to EUR 28.3 million. EBIT
(earnings before interest and taxes) amounted to EUR 4.0 million and the
EBIT margin 14.2%. Accordingly, the company is well within its annual
forecast (EUR 57 million to EUR 58 million revenue, EBIT of EUR 8 million
and a margin of 14%).
Dr. Andreas Bastin, Chief Executive Officer: 'Our business is performing as
planned. Sentiment at trade fairs and among our customers is also mostly
positive, although 2012 will not become a euphoric year due to the
discussions about sovereign debt and the euro zone.' The only listed hose
manufacturer is investing strongly in the future. As Bastin comments, 'We
want more international business and less Euro-centrism. We have just been
granted authorisation for our Chinese subsidiary. And we are stepping up
the development of hoses in industries less dependent on fluctuations in
the economy, such as foodstuffs, pharmaceuticals and medical technology.'
This is reflected in the figures for Q2. Bastin: 'The EBIT margin of 14.2%
is somewhat lower than the previous year. This is due primarily to initial
costs for internationalisation, in particular for new sales staff, who are
currently being recruited and trained ready for our expansion in Asia and
North and South America (staff cost ratio now 34.7% compared with 32.5% in
the previous year). Our annual planning naturally took these expenses into
account. And the non-recurring legal and consultancy expenses due for the
legal transformation into Masterflex SE resolved by the Annual General
Meeting have been reported separately as non-operating expenses in the
interests of clarity.'
In terms of products, Masterflex remains the leading developer and producer
of hoses for special applications. In April, the new generation of
flame-resistant/self-extinguishing XFlame(R) hoses was brought to market.
As of just recently, the Group has also been able to manufacture hoses from
certain fluoropolymers in quite normal thermoplastic production processes,
and thus in all possible variations. These hoses have similar
characteristics to the coating material for saucepans. And in summer the
product range was extended with Master-PURgreen hoses. The hallmark of
these 'green' hoses is that they are manufactured from up to 52% renewable
resources. As Bastin comments, 'We have only just embarked on our path to
value-oriented growth, and have big plans ahead.'
30 June 30 June Cha-End of Corporate News
2012 2011 nge
Consolidated revenue (EUR thou.) 28,261 27,176 4.0%
EBITDA (EUR thou.) 5,295 5,422 -2.3%
EBIT (EUR thou.)4,013 4,104 -2,2%
EBT (EUR thou.) 3,231 2,996 7.8%
Consolidated earnings from continued business 2,053 1,733 18.5%
units (EUR thou.)
Consolidated earnings from discontinued -14 -140 90.0%
business units (EUR thou.)
Consolidated net income/loss (EUR thou.) 2,039 1,447 40.9%
Earnings per share from continued business
units (EUR) 0.22 0.18 22.2%
Earnings per share from discontinued business
units (EUR) 0.00 -0.02
Earnings per share (EUR) 0.22 0.16 37.5%
EBIT margin 14.2% 15.1%
Employees 485 447 8.5%
30 June 31 Dec Chan
2012 2011 ge
Consolidated equity (EUR thou.) 18,047 16,239 11.1%
Consolidated total assets (EUR thou.) 51,264 50,930 0.7%
Consolidated equity ratio (%) 35.2% 31.9%
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13.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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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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181326 13.08.2012
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