Masterflex SE — AGM Information 2012

Jun 20, 2012

News Details

Corporate | 20 June 2012 13:55

Masterflex AG: Successfull Annual General Meeting

Masterflex AG / Key word(s): AGM/EGM

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 EUR57 million and EUR58 million in the current year with EBIT of around EUR8.0 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 EUR14.5 million and EBIT of EUR2.1 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 represented	Aye	Nay	Resolution
Approval of Management Board	38.06%	99.95%	0.05%	Accepted
Approval of Supervisory Board	39.44%	99.88%	0.12%	Accepted
Election of auditor	42.69%	99.64%	0.36%	Accepted
Transformation into SE	42.70%	99.79%	0.21%	Accepted

The results have been published in detailed on the website at Investor 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@masterflex.de

Phone + 49 209 970 77 44

End of Corporate News

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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@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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