Masterflex SE — Earnings Release 2004

Apr 28, 2004

News Details

Ad-hoc | 28 April 2004 07:57

Record results for Masterflex AG in 2003;Preliminary results for Q1 2004

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Ad hoc Disclosure: Record results again for Masterflex AG in fiscal 2003 Preliminary results for Q1 2004 well ahead of expectations Annual comparison Dec 31,2003 Dec 31, 2992 Change in % Revenue (EUR thou.) 66,917 56,823 +17.8 EBITDA (EUR thou.) 10,318 8,013 +28.8 EBIT (EUR thou.) 7,716 5,610 +37.5 EBT (EUR thou.) 6,529 4,678 +39.6 Net profit (EUR thou.) 3,747 2,518 +48.8 IAS-earnings/per share (EUR) 0.85 0.57 +49.1 EBIT-Margin 11.5% 9.9% Quarterly comparison March 31, 2004 March 31, 2003 Change in % Revenue (million EUR) 17.8 15.3 +15.6 EBIT (million EUR) 2.1 1.3 +61.0 EBIT-Margin 11.7% 8.5% Gelsenkirchen, April 28, 2004. Masterflex AG (ISIN DE0005492938) is continuing its rapid growth. Fiscal year 2003 was even better than expected: revenue increased by 17.8% to EUR66.0 million. Growth in earnings was even more pronounced, with earnings before interest and taxes (EBIT) up 37.5% to EUR7.7 million, while net profit soared 48.8% to EUR3.7 million. Earnings per share rose in line with this from EUR0.57 to EUR0.85. The Company had already lifted its targets for full-year 2003 in November 2003, when it was forecasting an EBIT increase of 25 to 30% and revenue of 13 to 15%. Due to the excellent growth, the Board of Masterflex AG will propose an increase in the dividend by 50% to EUR0.60 to the Annual General Meeting on June 9, 2004. Masterflex AG began 2004 well above expectations. According to preliminary data, revenue rose by approximately 38% to around EUR17.8 million. EBIT growth was stronger still: the Company is expecting it to surge by approximately 61% to around EUR2.1 million. This positive development is due to the above-average growth of all business units. Value drivers are the new product campaign, the increasing internationalization of the business, and the acquisition of a large number of new accounts. In addition, the Board of Masterflex AG sees substantial growth potential for the future. However, the Company is initially standing by its conservative forecasts for full-year 2004 (revenue growth of +17 to 20%, EBIT +30 to 35%), despite the surprisingly strong first quarter of 2004. Further Information: Masterflex AG, Willy-Brandt-Allee 300, 45891 Gelsenkirchen, Germany http://www.masterflex.de end of ad-hoc-announcement (c)DGAP 28.04.2004 ——————————————————————————– WKN: 549 293; ISIN: DE0005492938; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, München und Stuttgart 280757 Apr 04