Masterflex SE — Earnings Release 2008

May 15, 2008

News Details

Corporate | 15 May 2008 07:30

Masterflex AG enjoys successful start to 2008

Masterflex AG / Quarter Results/Miscellaneous

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P R E S S R E L E A S E

Masterflex AG enjoys successful start to 2008:

Revenue +3.3%, EBIT +8.1%, net profit +3.0%

Focus on earnings growth, Executive Board confirms forecasts for 2008

IFRS 31 Mar. 2008 31 Mar. 2007 Change
Revenue (€ thou.) 33,511 32,436 3.3%
EBITDA (€ thou.) 4,410 4,126 6.9%
EBIT (€ thou.) 3,638 3,366 8.1%
EBT (€ thou.) 2,865 2,876 -0.4%
Consolidated net profit (€ thou.) 1,901 1,845 3.0%
Earnings per share (€) 0.42 0.41 2.4%
Net profit margin 10.9% 10.4% 4.8%
EBIT margin 5.7% 5.7% 0.0%
Number of employees 769 781 -1.5%
31 Mar. 2008 31 Dec. 2007 Change
Shareholders’ equity (€ thou.) 36,038 34,772 3.6%
Total assets (€ thou.) 129,934 130,087 -0.1%
Equity ratio 27.7% 26.7% 3.7%

Gelsenkirchen, 15 May 2008. Masterflex AG (ISIN DE0005492938), the
technology leader for the development and processing of special plastics,
has made an excellent start to the 2008 financial year. The Group’s focus
on earnings growth is reflected in all of its key indicators.

In the first quarter of 2008, consolidated revenue increased by 3.3%
year-on-year to €33.5 million. Consolidated earnings before interest,
taxes, depreciation and amortisation (EBITDA) rose by 6.9% to €4.4 million,
while consolidated earnings before interest and taxes (EBIT) improved by
8.1% to €3.6 million. This means that Masterflex AG is well on track to
achieve its forecasts for the year as a whole.

Consolidated net profit after minority interests also increased by 3.0% to
€1.9 million, corresponding to earnings per share of €0.42 (+2.4%).

The performance of the individual business units was far from uniform. The
increased focus on the Group’s core High-Tech Hose Systems business unit
proved successful, with encouraging growth in incoming orders. The
significant improvement in profitability in the Medical Technology business
unit serves to document the successful reorganisation in the past year. The
Mobile Office Systems business unit enjoyed a relatively modest start to
the year in terms of revenue, not least because of the extremely strong
volume of business recorded towards the end of the previous year. The
Company is fully confident that the Advanced Material Design business unit
will achieve its targets by the end of the year despite recording a drop in
earnings in the first quarter.

In the 2008 financial year, Masterflex AG intends to clearly focus its
strategy on sustainable, long-term corporate development, particularly with
regard to the core High-Tech Hose Systems business unit. According to new
CEO Dr. Andreas Bastin, 'Our aim is to maintain and, where possible,
increase our productivity and profitability on a long-term basis. We have
already made initial progress in this direction by optimising our
organisational structures and workflows.'

Accordingly, the EBIT margin in the Company’s core business unit increased
year-on-year, while margins in the Medical Technology and Mobile Office
Systems business units also improved. All in all, the consolidated EBIT
margin increased to 10.9%, reversing the trend recorded in the previous
quarters and the 2006 financial year.

The Executive Board of Masterflex AG expects the Group to continue its
successful development in the 2008 financial year, particularly in light of
the encouraging results in the first three months. The Executive Board has
confirmed its forecasts of consolidated revenue growth of 10-15% and
consolidated EBIT growth of 6-12%. Dr. Bastin added, 'Over the next few
years, we intend to focus on expanding all of our activities in and around
our core competency, the production of innovative high-tech hose systems.
Accordingly, our investments and acquisitions will be oriented towards
achieving this aim.'

The Interim Report for 1/2008 can be downloaded from the Company’s website
at www.masterflex.de.

For more information please contact: Masterflex AG, Investor Relations,
Willy-Brandt-Allee 300, D-45891 Gelsenkirchen, Germany. Tel. +49
(0)209-97077-44, Fax +49 (0)209-97077-20, stephanie.kniep@masterflex.de
15.05.2008 Financial News transmitted by DGAP

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Language: English
Issuer: Masterflex AG
Willy-Brandt-Allee 300
45891 Gelsenkirchen
Deutschland
Phone: +49 (0)2099 70 77-44
Fax: +49 (0)2099 70 77-20
E-mail: stephanie.kniep@masterflex.de
Internet: www.masterflex.de
ISIN: DE0005492938
WKN: 549 293
Indices: Prime all share
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

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