DGAP-News: Masterflex AG: Q3 results - Masterflex still on track for success
(firmenpresse) - DGAP-News: Masterflex AG / Key word(s): Quarter Results
Masterflex AG: Q3 results - Masterflex still on track for success
15.11.2011 / 08:30
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Masterflex still on track for success
- Sales EUR40.1 million
- EBIT EUR5.9 million - EBIT margin 14.6%
- Earnings per share EUR0.27
- Extra EUR0.10 per share from interest rate swap agreement
- Equity close to medium-term target of 30% at 27.5%
Gelsenkirchen, 15 November 2011 - The first nine months have been highly
successful for Masterflex AG. With sales of EUR40.1 million, the Group has
not only outperformed the previous year by 16% (Q3 2010: EUR34.6 million),
but is also at the upper range of its annual forecast (2011 as a whole:
sales of EUR50 to 51 million). This applies in particular to EBIT, which
amounted to EUR5.9 million as at 30 September 2011 (previous year: EUR4.7
million; forecast: EUR7.0 million), and the resulting EBIT margin of 14.6%
(forecast: 14%). Earnings per share came to EUR0.27 (previous year:
EUR-1.35).
In addition, there was non-operating income not included in the Q3 figures
of around EUR0.9 million from the out-of-court settlement of a legal
dispute over an interest rate swap terminated in 2009 (see ad hoc
disclosure of 4 November 2011). This means additional income of around 10
cents per share. With this extraordinary effect, Masterflex - the global
connector specialist for high-tech hose systems (HTS) - has so far
generated EUR0.37 per share in 2011, not yet including the results of the
fourth quarter.
Masterflex CEO Dr Andreas Bastin commented: '2011 has gone very well so
far: a good order situation, sound operating earnings, all activities
outside HTS sold, further progress in internationalisation, innovation
process integrated internally and good staff hired for ongoing growth. What
wasn't so good were the signals from politics and the general sentiment,
which cannot be completely disregarded psychologically. Against this
downbeat backdrop and taking into account the upfront costs for our
internationalisation activities, we have retained our forecast. Thanks to
our product range and the many industries to which we can offer value-added
compared to conventional solutions with our high-tech hoses and connector
components, we are gradually becoming even more independent of individual
economic cycles. We intend to continue advancing this broad positioning in
order to grow steadily but surely in the long term.'
All activities outside HTS have since been sold. The figures for the
previous year have been adjusted for the discontinued operations outside
HTS.
The annual report of Masterflex AG will be published on 29 March 2012.
30 September 30 September ChangeEnd of Corporate News
2011 2010
Consolidated sales
(EUR thou.) 40,098 34,573 + 16.0%
EBITDA (EUR thou.) 7,838 6,495 + 20.7%
EBIT (EUR thou.) 5,855 4,729 + 23.8%
EBT (EUR thou.) 4,201 418 + 905.0%
Result of continuing business units 2,730 104 +
(EUR thou.) 2,525.0%
Result of discontinued business -145 -5,872
units (EUR thou.)
Consolidated net income/loss (EUR 2,381 -5,876
thou.)
Earnings per share 0.27 -1.35
EBIT-Margin 14.61% 13.7%
Number of employees 461 386 + 19.4%
30 September 31 December
2011 2010
Consolidated equity
(EUR thou.) 14,542 12,213 + 19.1%
Consolidated financial liabilities 26,872 37,437 - 28.2%
(EUR thou.)
Consolidated total assets (EUR 52,818 65,416 -19.3%
thou.)
Consolidated equity ratio 27.5% 18.7%
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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
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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146212 15.11.2011
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Datum: 15.11.2011 - 08:30 Uhr
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