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Masterflex SE — Earnings Release 2012
Nov 12, 2012
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Earnings Release
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News Details
Corporate | 12 November 2012 09:00
Q3: Masterflex SE growth continues
Masterflex SE / Key word(s): Quarter Results
12.11.2012 / 09:00
Press Release
Q3: Masterflex SE growth continues
– Revenue up by 4.8%
– EBIT margin stable at 14.1%
– Earnings per share now 31 cents
Gelsenkirchen, 12 November 2012 – In the first nine months of the year Masterflex SE, the global specialist in high-tech plastic hoses, generated revenue of EUR 42.0 million. This represents a rise of 4.8%, with operating results of EUR 5.9 million. The corresponding gross margin of 14.1% is in line with the company's long-term route to growth.
'Our business in sophisticated connective hose systems is operating at unprecedented levels. We had anticipated a stronger third quarter, but the European market is still suffering from the current sovereign debt crisis' stated CEO Dr. Andreas Bastin.
In principle, Masterflex is standing by its annual forecast for 2012, although it is no longer possible to rule out annual sales falling slightly short for 2012 compared with the anticipated and ambitious forecast for sales growth of EUR 57 to EUR 58 million. Profitability of the business remains high despite the up-front costs required for internationalisation. Bastin confirmed: 'We are looking at an EBIT margin in the region of 14%, even when taking into account a slight shortfall in our sales targets.'
The internationalisation of Masterflex continues apace, with the focus currently on Asia. In China, assembly capacities are currently being established and the first significant new business has already been generated. Bastin stated: 'In the medium term, business in Asia and America should flow alongside the traditional mainstay business in Europe so it can develop and become more independent from individual regions and sectors.'
In the field of product innovations, Masterflex has also been able to advance by expanding its portfolio of high-tech plastics injection molding parts. With the acquisition of a two-component (2-C) machine, the subsidiary Fleima-Plastic can now manufacture 2-C injection molding elements in a single step process. This process typically uses a combination of hard support material and a malleable, soft surface, similar to the way this is used for a tumour marker in medical engineering.
Bastin confirmed: 'High-tech plastics continue to have enormous potential, not only in terms of possible combinations of materials and additives to achieve new product features of interest to our customers, but also in terms of production processes, an area in which we have spent years, indeed decades, building our know-how. This is why we see plenty of scope for future growth in our high-tech connecting solutions.'
| 30.09.2012 | 30.09.2011 | Change | |
| Consolidated revenue (EUR thou.) | 42,025 | 40,098 | 4.8% |
| EBITDA (EUR thou.) | 7,854 | 7,838 | 0.2% |
| EBIT (EUR thou.) | 5,907 | 5,855 | 0.9% |
| EBT (EUR thou.) | 4,699 | 4,201 | 11.9% |
| Consolidated earnings from continued business units (EUR thou.) | 3,081 | 2,730 | 12.9% |
| Consolidated earnings from discontinued business units (EUR thou.) | -215 | -145 | -48.3% |
| Consolidated net income/loss (EUR thou.) | 2,733 | 2,381 | 14.8% |
| Earnings per share from continued business units (EUR) | 0.33 | 0.28 | 17.9% |
| Earnings per share from discontinued business units (EUR) | -0.02 | -0.01 | |
| Earnings per share (EUR) | 0.31 | 0.27 | 14.8% |
| EBIT margin | 14.1% | 14.6% | |
| Employees | 497 | 461 | 7.8% |
| 30.09.2012 | 31.12.2011 | Change | |
| Consolidated equity (EUR thou.) | 18,836 | 16,239 | 16.0% |
| Consolidated total assets (EUR thou.) | 51,976 | 50,930 | 2.1% |
| Consolidated equity ratio (%) | 36.2% | 31.9% |
The Masterflex Group is a specialist in the development and production of high-quality connector and hose systems. With 12 operating units in Europe, America and Asia, the Group is represented almost all over the world. Its growth is driven by internationalisation and innovation. Masterflex shares have been listed as Prime Standard on the German stock exchange since 2000.
Contact: Dr. Annette Littmann, [email protected] Phone + 49 209 970 77 44
End of Corporate News
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| Language: | English |
| Company: | Masterflex SE |
| 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 |
| Indices: | Prime all share |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
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| 192488 12.11.2012 |