Masterflex SE — Earnings Release 2002

May 28, 2002

News Details

Ad-hoc | 28 May 2002 09:34

Masterflex AG correction

Masterflex AG: Correction Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Corrected announcement on behalf of the issuer: In the Ad-hoc-announcement from Mai, 27th the figures in the last tableline “Earnings per share”: “0.02 0.12 -83.3%” must read: “0.05 0.12 -58.3%”. The complete corrected announcement is: Masterflex continues revenue growth in Q1 2002 Outlook 2002: product offensive provides basis for further growth, Revenue + 15%, EBIT + 6-12% Gelsenkirchen, May 28, 2002 Mar. 31, 2002 Mar. 31, 2001 Change in% Revenue (EUR thou.) 13,719 10,201 + 34.5% EBITDA (EUR thou.) 1,535 1,640 – 6.4% EBIT (EUR thou.) 957 1,189 – 19.5% EBT (EUR thou.) 758 1,085 – 30.1% Net profit (EUR thou.) 238 552 – 56.9% Earnings per share (EUR) 0.05 0.12 – 58.3% Despite the difficult economic environment, Masterflex AG (WKN 549 293) increased consolidated revenues by 34.5% to EUR 13.7 million in the first three months of 2002. Following a difficult Q4 2001 the traditional business of hoses for air-conditioning and ventilation at Masterflex s US subsidiary stabilized again, with revenue in Q1 2002 slightly exceeding the prior-year level. The newly established, highly profitable high-tech hose systems business continued to demonstrate extremely positive development. The Group s earnings development in Q1 2002 continued to be impacted by the prior-year investments. Consolidated earnings before interest and taxes (EBIT) declined by 19.5% to around EUR 1.0 million (previous year: EUR 1.2 million). However, the decrease was reduced further as against Q4 2001. In light of the start of the market launch of a number of products in the second half-year, the Company expects a 15% increase in revenue for 2002 as a whole. Masterflex also anticipates substantial improvement in the Group s earnings development, with EBIT slated to rise by 6 to 12%. Further information: kniep@masterflex.de, Tel. +49 (0)209-9707744, Fax +49 (0)209-9707720 and on the Internet: http://www.masterflex.de end of ad-hoc-announcement (c)DGAP 28.05.2002 ——————————————————————————– WKN: 549 293; ISIN: DE0005492938; Index: SDax Listed: Amtlicher Handel in Frankfurt (SMAX); Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Stuttgart 280934 Mai 02