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Masterflex SE — Earnings Release 2011
Nov 15, 2011
276_rns_2011-11-15_24d85e03-ad79-4f8b-af3d-c1136102494b.html
Earnings Release
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Corporate | 15 November 2011 08:30
Masterflex AG: Q3 results – Masterflex still on track for success
Masterflex AG / Key word(s): Quarter Results
15.11.2011 / 08:30
Q3 results: Masterflex still on track for success
– Sales EUR40.1 million
– EBIT EUR5.9 million – EBIT margin 14.6%
– Earnings per share EUR0.27
– Extra EUR0.10 per share from interest rate swap agreement
– Equity close to medium-term target of 30% at 27.5%
Gelsenkirchen, 15 November 2011 – The first nine months have been highly successful for Masterflex AG. With sales of EUR40.1 million, the Group has not only outperformed the previous year by 16% (Q3 2010: EUR34.6 million), but is also at the upper range of its annual forecast (2011 as a whole: sales of EUR50 to 51 million). This applies in particular to EBIT, which amounted to EUR5.9 million as at 30 September 2011 (previous year: EUR4.7 million; forecast: EUR7.0 million), and the resulting EBIT margin of 14.6% (forecast: 14%). Earnings per share came to EUR0.27 (previous year: EUR-1.35).
In addition, there was non-operating income not included in the Q3 figures of around EUR0.9 million from the out-of-court settlement of a legal dispute over an interest rate swap terminated in 2009 (see ad hoc disclosure of 4 November 2011). This means additional income of around 10 cents per share. With this extraordinary effect, Masterflex – the global connector specialist for high-tech hose systems (HTS) – has so far generated EUR0.37 per share in 2011, not yet including the results of the fourth quarter.
Masterflex CEO Dr Andreas Bastin commented: '2011 has gone very well so far: a good order situation, sound operating earnings, all activities outside HTS sold, further progress in internationalisation, innovation process integrated internally and good staff hired for ongoing growth. What wasn't so good were the signals from politics and the general sentiment, which cannot be completely disregarded psychologically. Against this downbeat backdrop and taking into account the upfront costs for our internationalisation activities, we have retained our forecast. Thanks to our product range and the many industries to which we can offer value-added compared to conventional solutions with our high-tech hoses and connector components, we are gradually becoming even more independent of individual economic cycles. We intend to continue advancing this broad positioning in order to grow steadily but surely in the long term.'
All activities outside HTS have since been sold. The figures for the previous year have been adjusted for the discontinued operations outside HTS.
The annual report of Masterflex AG will be published on 29 March 2012.
| 30 September 2011 | 30 September 2010 | Change | |
| Consolidated sales (EUR thou.) |
40,098 | 34,573 | + 16.0% |
| EBITDA (EUR thou.) | 7,838 | 6,495 | + 20.7% |
| EBIT (EUR thou.) | 5,855 | 4,729 | + 23.8% |
| EBT (EUR thou.) | 4,201 | 418 | + 905.0% |
| Result of continuing business units (EUR thou.) | 2,730 | 104 | + 2,525.0% |
| Result of discontinued business units (EUR thou.) | -145 | -5,872 | |
| Consolidated net income/loss (EUR thou.) | 2,381 | -5,876 | |
| Earnings per share | 0.27 | -1.35 | |
| EBIT-Margin | 14.61% | 13.7% | |
| Number of employees | 461 | 386 | + 19.4% |
| 30 September 2011 | 31 December 2010 | ||
| Consolidated equity (EUR thou.) |
14,542 | 12,213 | + 19.1% |
| Consolidated financial liabilities (EUR thou.) | 26,872 | 37,437 | – 28.2% |
| Consolidated total assets (EUR thou.) | 52,818 | 65,416 | -19.3% |
| Consolidated equity ratio | 27.5% | 18.7% |
End of Corporate News
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| Language: | English |
| Company: | Masterflex AG |
| Willy-Brandt-Allee 300 | |
| 45891 Gelsenkirchen | |
| Germany | |
| Phone: | +49 (0)209 97077-44 |
| Fax: | +49 (0)209 97077-20 |
| E-mail: | [email protected] |
| Internet: | www.masterflex.de |
| ISIN: | DE0005492938 |
| WKN: | 549 293 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
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