Masterflex SE — Earnings Release 2005

Mar 31, 2006

News Details

Corporate | 31 March 2006 11:00

Masterflex AG planning double-digit growth

Corporate-news transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— P R E S S R E L E A S E Masterflex AG planning double-digit revenue and pretax earnings growth for 2006 financial year Order books already filled at the start of the year Dec. 31. 05 Dec. 31. 04 +/- in % Sales revenue (EUR thousands) 87,773 75,752 +15.9 EBITDA (EUR thousands) 14,584 13,544 +7.7 EBIT (EUR thousands) 12,263 10,553 +16.2 EBT (EUR thousands) 9,719 9,423 +3.1 Net earnings (EUR thousands) 5,965 5,942 +0.4 Earnings per share (EUR) 1.37 1.33 +3.0 EBIT margin 14.0% 13.9% Net return on sales 6.8% 7.8% Net dividend per share (EUR) 0.80 0.80 +0.0 Total assets 97,832 87,259 +12.1 Equity ratio 31.7% 33.1% Employees 656 473 +38.7 Gelsenkirchen, March 31, 2006. Today’s published 2005 financial results once again underline Gelsenkirchen-based Masterflex AG’s (ISIN DE0005492938) successful steady growth. Sales revenue grew for the eighteenth year in a row and the profit situation improved further. Our success is based on trendsetting business activities and a focus on research and development. We again were able to introduce a number of innovations in fiscal 2005. In accordance with the IFRS 3 international accounting standard, the amounts recognized in the initial consolidation of our subsidiaries DICOTA GmbH and Fleima Plastic GmbH were adjusted retroactively, as were the financial statements for the 2004 fiscal year. Consolidated revenue rose 15.9 percent to EUR 87.8 million (preceding year: EUR 75.8 million) and consolidated earnings before interest and taxes (EBIT) increased by 16.2 percent to EUR 12.3 million (preceding year: EUR 10.6 million). Earnings before taxes (EBT) suffered from the poorer financial result, growing 3.1 percent to EUR 9.7 million (preceding year: EUR 9.4 million). Group net profit remained, as a result of the noticeably higher tax rate of 35 percent, almost at the level of the preceding year, amounting to just under EUR 6.0 million (2004: EUR 5.9 million). The main reasons for the tax increase were a mandatory one-time adjustment of transfer prices by the DICOTA group and the profits generated in countries with higher tax burdens. Earnings per share for the 2005 financial year were € 1.37. Group total assets rose 12.1 percent, from € 87.3 million to € 97.8 million. Masterflex AG continued to enjoy an excellent equity ratio of 31.7 percent. The successful growth was reflected in the higher number of employees. At year-end there were 656, an increase of 38.7 percent. EBIT margin continues to be first-class at 14.0 percent. Masterflex AG’s position in its trendsetting fields of activity is considered outstanding in the eyes of its Executive Board. Masterflex AG is a recognized technology leader in its core high-tech hose systems business and has an excellent market share thanks to its advanced products. At the beginning of the year the company hit a new record in orders received, which makes it very optimistic for the fiscal year 2006. Medical Technology also fulfilled our expectations for the fiscal year 2005. Fuel cell technology also had a successful year. We received the order for the first fuel-cell-powered bicycle fleet, and with the Cargo Bike we have developed another light vehicle. DICOTA GmbH’s mobile office equipment business had clearly recovered by the fourth quarter of 2005. Significant stimulus on future business developments is expected from the SURPRO Group, which was first consolidated in fiscal 2005. Its revenue and earnings contributions were included in Masterflex AG’s result on a prorated basis for the first time. Due to the positive outlook, the Executive Board expects an increase in consolidated revenue of 20 to 30 percent and growth in consolidated EBIT of 10 to 20 percent for fiscal 2006. We will recommend a dividend payment of € .80 at the Annual General Meeting on June 14, 2006. The 2005 financial statements will be available for download from the company’s home page at www.masterflex.de from end of April onward. Additional information: Masterflex AG, Investor Relations, Willy-Brandt-Allee 300, 45891 Gelsenkirchen, kniep@masterflex.de , Tel. +49 209-97077 44, Fax +49 209 97077 20. (c)DGAP 31.03.2006 ————————————————————————— language: English emitter: Masterflex AG Willy-Brandt-Allee 300 45891 Gelsenkirchen Deutschland phone: +49 (0)2099 70 77-44 fax: +49 (0)2099 70 77-20 email: Kniep@masterflex.de WWW: www.masterflex.de ISIN: DE0005492938 WKN: 549 293 indexes: SDAX stockmarkets: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service —————————————————————————