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Masterflex SE — Earnings Release 2012
Aug 13, 2012
276_rns_2012-08-13_eae34bcf-ec64-42d5-93e4-bd0285305081.html
Earnings Release
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Corporate | 13 August 2012 08:00
Masterflex AG: Going forward on profitable expansionary course
Masterflex AG / Key word(s): Half Year Results
13.08.2012 / 08:00
Press Release
Q 2: Masterflex continues on profitable expansionary course
– Licence received for China business
– Results of operations stable despite initial costs for the expansion
– Three product innovations launched
Gelsenkirchen, 13 August 2012 – On the basis of the first half of 2012, the revenue and income of Masterflex AG, global specialist for sophisticated connector systems made from high-tech plastics, are completely in line with its planned growth. Revenue rose by 4.0% to EUR 28.3 million. EBIT (earnings before interest and taxes) amounted to EUR 4.0 million and the EBIT margin 14.2%. Accordingly, the company is well within its annual forecast (EUR 57 million to EUR 58 million revenue, EBIT of EUR 8 million and a margin of 14%).
Dr. Andreas Bastin, Chief Executive Officer: 'Our business is performing as planned. Sentiment at trade fairs and among our customers is also mostly positive, although 2012 will not become a euphoric year due to the discussions about sovereign debt and the euro zone.' The only listed hose manufacturer is investing strongly in the future. As Bastin comments, 'We want more international business and less Euro-centrism. We have just been granted authorisation for our Chinese subsidiary. And we are stepping up the development of hoses in industries less dependent on fluctuations in the economy, such as foodstuffs, pharmaceuticals and medical technology.'
This is reflected in the figures for Q2. Bastin: 'The EBIT margin of 14.2% is somewhat lower than the previous year. This is due primarily to initial costs for internationalisation, in particular for new sales staff, who are currently being recruited and trained ready for our expansion in Asia and North and South America (staff cost ratio now 34.7% compared with 32.5% in the previous year). Our annual planning naturally took these expenses into account. And the non-recurring legal and consultancy expenses due for the legal transformation into Masterflex SE resolved by the Annual General Meeting have been reported separately as non-operating expenses in the interests of clarity.'
In terms of products, Masterflex remains the leading developer and producer of hoses for special applications. In April, the new generation of flame-resistant/self-extinguishing XFlame(R) hoses was brought to market. As of just recently, the Group has also been able to manufacture hoses from certain fluoropolymers in quite normal thermoplastic production processes, and thus in all possible variations. These hoses have similar characteristics to the coating material for saucepans. And in summer the product range was extended with Master-PURgreen hoses. The hallmark of these 'green' hoses is that they are manufactured from up to 52% renewable resources. As Bastin comments, 'We have only just embarked on our path to value-oriented growth, and have big plans ahead.'
| 30 June 2012 | 30 June 2011 | Change | |
| Consolidated revenue (EUR thou.) | 28,261 | 27,176 | 4.0% |
| EBITDA (EUR thou.) | 5,295 | 5,422 | -2.3% |
| EBIT (EUR thou.) | 4,013 | 4,104 | -2,2% |
| EBT (EUR thou.) | 3,231 | 2,996 | 7.8% |
| Consolidated earnings from continued business units (EUR thou.) | 2,053 | 1,733 | 18.5% |
| Consolidated earnings from discontinued business units (EUR thou.) | -14 | -140 | 90.0% |
| Consolidated net income/loss (EUR thou.) | 2,039 | 1,447 | 40.9% |
| Earnings per share from continued business units (EUR) | 0.22 | 0.18 | 22.2% |
| Earnings per share from discontinued business units (EUR) | 0.00 | -0.02 | |
| Earnings per share (EUR) | 0.22 | 0.16 | 37.5% |
| EBIT margin | 14.2% | 15.1% | |
| Employees | 485 | 447 | 8.5% |
| 30 June 2012 | 31 Dec 2011 | Change | |
| Consolidated equity (EUR thou.) | 18,047 | 16,239 | 11.1% |
| Consolidated total assets (EUR thou.) | 51,264 | 50,930 | 0.7% |
| Consolidated equity ratio (%) | 35.2% | 31.9% |
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 |
| 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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| 181326 13.08.2012 |