Masterflex SE — Earnings Release 2011

Aug 11, 2011

News Details

Corporate | 11 August 2011 07:30

Masterflex AG confirms successful first half of 2011

Masterflex AG / Key word(s): Half Year Results

11.08.2011 / 07:30

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Masterflex AG confirms successful first half of 2011

– Revenue growth of 19.9%

– EBIT margin of 15.1%

– Earnings per share EUR 0.16

– Equity back over 24%

– Wide range of client industries means less dependence on the economic cycle

Gelsenkirchen, 11 August 2011 – Masterflex AG is maintaining its positive start to the year with the half-year results published today. The Group, a globally operating specialist for the development and production of connector and hose systems using high-tech plastics, recorded revenue growth of 19.9% in the first half of 2011 to a total of EUR27.2 million. It also increased its EBIT by 36% to EUR4.1 million. Accordingly, Masterflex is well within its annual forecast (2011 revenue: +8 – 10% to EUR50-51 million; EBIT EUR7.0 million).

CEO Dr Andreas Bastin notes: 'Thanks to the measures we have taken and the economic situation, our business has developed very well. For our further expansion beyond the current economic cycle, our internationalisation and innovation strategy has begun to bear fruit. Following the launch of our activities in the Russian and Brazilian markets in 2010, we began direct distribution in the Czech Republic in early summer. After introducing our templine heated hoses at the beginning of the year, we are launching high-performance smooth bore hoses made from modified POM (polyoxymethylene) as an alternative to conventional polyamide (PA) products that are now virtually unavailable on the market. As a result, we are optimistic about the years ahead: Regardless of our clients' regional or industrial economic cycles, Masterflex is growing.'

All of the Group's previous activities apart from the high-tech hose business have been sold or, in the case of the remaining fuel cell technology activities, are available for sale. The balance sheet has been adjusted for the remaining activities outside of high-tech hose and these are posted as discontinued business units.

The Executive Board has confirmed its 2011 forecast due to seasonal effects and start-up costs for the Group's internationalisation activities.

In EUR thousand	30 June 2011	30 June 2010	Change
Consolidated revenue	27,176	22,669	+ 19.9%
EBITDA	5,422	4,188	+ 29.5%
EBIT	4,104	3,014	+ 36.2%
EBT	2,996	648	+ 362.3%
Earnings/loss from continued business units	1,733	514	+ 237.2%
Earnings/loss from discontinued business units	-140	-5,395
Consolidated net income/loss	1,447	-4,974
Earnings per share (EUR)	0.16	-1.14
EBIT-Margin	15.1%	13.3%
Number of employees	447	358	+ 24.9%
	30 June 2011	31 December 2010
Consolidated Equity	13,369	12,213	+ 9.5%
Consolidated financial liabilities	28,538	37,437	– 23.8%
Consolidated total assets	55,052	65,416	-15.8%
Equity ratio	24.3%	18.7%

You can download the interim report on www.masterflex.de .

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:	annette.littmann@masterflex.de
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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