Masterflex SE — Earnings Release 2001

Apr 27, 2002

News Details

Ad-hoc | 27 April 2002 11:30

Masterflex AG english

Supervisory Board approves Masterflex AGs annual financial statements for 2001 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Ad-hoc disclosure: Supervisory Board approves Masterflex AGs annual financial statements for 2001 Planned dividend increase of 60% Gelsenkirchen, April 26, 2002 The Supervisory Board of Masterflex AG (SCN: 549 293) has approved and adopted the annual financial statements for 2001. The Groups revenues rose 20.1% to EUR 45.8 million in the past fiscal year. 2001 saw significant investments made in research and development and in the establishment of US sales operations for high-tech hose systems. In addition, we entered the fuel cell technology sector with the acquisition of a majority interest in DICOTA GmbH. This represents an important step towards the distribution of our 50-watt mini fuel cells, which are slated for mass production in 2004. These investments have taken a toll on our earnings. In the second half of 2001, the difficult situation in the US caused an unexpected drop in revenues in our traditional business area of hoses for air-conditioning and ventilation, resulting in EBITDA of EUR 7.0 million (2000: EUR 7.9 million) in fiscal year 2001. EBIT in accordance with IAS totaled EUR 4.9 million (2000: EUR 6.3 million); however, despite special charges, an EBIT margin of 10.7% was achieved. Net profit in 2001 according to IAS amounted to EUR 2.0 million (2000: EUR 2.3 million) and earnings per share were EUR 0.45 (2000: EUR 0.57). The companys net profits on which the dividend is based increased by more than 19% to EUR 2.3 million. In light of this positive development, the Board and Supervisory Board of Masterflex AG will propose a dividend increase to EUR 0.40 per no-par value share (2000: EUR 0.25) at the companys Annual General Meeting on July 24, 2002 in Gelsenkirchen. The Group expects revenues and earnings to improve even further in 2002. The financials press conference will be held on April 29. Further information can be found at: www.masterflex.de, or contact kniep@masterflex.de, Tel. +49 (0)209-9707744. end of ad-hoc-announcement (c)DGAP 27.04.2002 ——————————————————————————– WKN: 549 293; ISIN: DE0005492938; Index: SDax Listed: Amtlicher Handel in Frankfurt (SMAX); Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Stuttgart 271130 Apr 02