Masterflex SE — Earnings Release 2004

Apr 27, 2005

News Details

Corporate | 27 April 2005 10:59

Masterflex AG: Record earnings once again in fiscal 2004

Corporate-news transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Record earnings once again for Masterflex AG in fiscal 2004 – preliminary figures confirmed, outlook positive – Year-on-year comparison Dec. 31, 2004 Dec. 31, 2003 +/- in % Revenue (EUR thousand) 75,752 66,917 +13.2 EBITDA (EUR thousand) 14,086 10,204 +38.0 EBIT (EUR thousand) 11,357 7,602 +49.4 EBT (EUR thousand) 10,227 6,415 +59.4 Net profit (EUR thousand) 6,830 3,679 +85.6 Earnings per share (EUR) 1.53 0.84 +82.0 EBIT margin 15.0% 11.4% Net return on sales 9.0% 5.5% Net dividend per share(EUR) 0.80 0.60 +33.3 Total assets 83,573 60,076 +39.1 Equity ratio 35.5% 48.0% Employees 473 419 +12.9 Gelsenkirchen, April 27, 2005. Gelsenkirchen-based Masterflex AG (ISIN DE0005492938) published its annual financial statements for 2004 today, confirming the preliminary figures published on April 7, 2005 and its record earnings development. The Supervisory Board adopted and approved the annual and consolidated financial statements, which had been granted an unqualified audit opinion by the auditors, on April 11, 2005. Consolidated net profit jumped by almost 86 percent to EUR 6.8 million (previous year: EUR 3.7 million). As a result, the Company achieved an excellent, above average net return on sales of 9 percent. Earnings per share rose sharply, by 82 percent from EUR 0.84 to EUR 1.53, clearly exceeding analysts’ expectations. The other earnings indicators also developed exceptionally well. Earnings before taxes (EBIT) increased by 3.8 percent to EUR 11.4 million. The EBIT margin rose from 11.4 percent to 15.0 percent. Net profit from ordinary activities also climbed substantially by almost 60 percent to EUR 10.2 million. Consolidated revenue increased in line with forecasts, by 13.2 percent to EUR 75.8 million. Total consolidated assets climbed by 39 percent, from EUR 60.1 million to EUR 83.6 million, largely due to the borrower’s note loan of EUR 23 million from IKB Deutsche Industriebank AG. Masterflex AG’s equity ratio remained extremely healthy at 35.5 percent. The Companys successful development was reflected in a 12.9 percent increase in the workforce to 473 employees. The Board of Masterflex AG considers the Company to be in an excellent position with its future-oriented business units. It is therefore expecting a double-digit increase in consolidated revenue of between 15 and 20 percent for 2005 as a whole, and an increase in EBIT of between 15 and 25 percent. Given this outstanding development, the Board and Supervisory Board of Masterflex AG will propose an increase in the dividend to EUR 0.80 per share to the Annual General Meeting on June 8, 2005. The 2004 Annual Report can be downloaded from the Companys website at http://www.masterflex.de . For additional information please contact: Masterflex AG, Investor Relations, Willy-Brandt-Allee 300, 45891 Gelsenkirchen, Germany kniep@masterflex.de, Tel. +49 209-97077 44, Fax +49 209 97077 20. End of announcement (c)DGAP 27.04.2005 —————————————————————————— WKN: 549 293; ISIN: DE0005492938; Index: SDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, München und Stuttgart 271059 Apr 05