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Masterflex SE — Investor Presentation 2015
May 7, 2015
276_ip_2015-05-07_19442fb9-a1de-446f-ba66-fbe34540308e.pdf
Investor Presentation
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The Masterflex Group
11 May 2015
Masterflex SE at a Glance
- Leading international market position
- Established 1987 in Germany/Ruhr region
- Market presence with 5 product brands
- 13 locations in Europe,
- North-/South America und Asia
-
590 employees worldwide
-
Stable double-digit EBIT margin
- Equity-Ratio of more than 46%
- Trading on the Stock Exchange since 2000
- 56% free float, 44% with 5 major shareholders (incl. treasury shares)
- Legal form SE since 2012
The Financial Figures I/2015
Financial Figures –Sales Trend
Turnover
€million
Hopeful Start in 2015 Revenue plus of 4.8% International growth also fine Business in Russia remains difficult Order backlog indicates to a continued growth path
Financial Figures –Operating Result
Group EBIT and Margin
€million and %, continuing business units
Profitable despite Growth Course
- Current EBIT margin: 10.0% (previous year: 13.0%)
- Staff cost ratio: 38.2% (previous year: 35.2%)
- Cost of materials ratio: 31.3% (previous year 32.3%)
Financial Figures –Net Income
Consolidated Net Income
Good Quarterly Profit
- Financial result: € -0.2 million (previous year: €-0.3 million)
- Consolidated net income: €0.9 million (previous year: €1.1 million)
- Earnings per share: €0.10
Financial Figures –Equity
Equity and Equity Ratio
Solid equity cushion
- Equity ratio now at 46.6%
- Driver: constant yearly profits
- Ability for dividend distribution since 2014
Financial Figures –Refinancing
Financial Liabilities
€million
Strong Debt Reduction Achieved
- Typically, Q1 is cash-negative due to lump sum payments
- Increasing rate of repayment in 2015
- Group refinancing until 2018
- M&A facility available
Shareholder Structure
Structure Stable since Last Capital Increase
- Free float (55.7%)
- SVB GmbH & Co. KG/ Families Schmidt (19.9%)
- Stichting Administratiekantoor Monolith (10.2%)
- BBC GmbH/ Dr. Bastin, Becks (6.1%)
- Families Bischoping (3.3%)
- Baden-Würtembergische Versorgungsanstalt für Ärzte, Zahnärzte und Tierärzte (3.3%)
- Treasury shares (1.5%)
The Business Model
- Specialist provider of high-tech hoses and connection systems for over 25 years
- Flexible solutions for transporting gases, liquids and solids
- Typical applications:
- High heat or pressure
- Aggressive chemicals or highly abrasive solids
- Microbe-infection or electrostatic charge
- Sterility and torsion-free
- Consultation oriented sale of application-oriented, flexible hoses and connection systems
- Ë Engineering, production and sales of high-tech hoses and connection systems
Masterflex products - a one stop shop
The Business Model –Our Customers
Mechanical engineering
Food manufacturers
Rail industry
Automotive industry
Pharmaceutical
Aviation
Manufacturing industry
Medical technology
Renewable energy
The Business Model –Products and Brands
Our Growth Strategy
Above average,
profitable growth with sustainable earnings
G L O B A L I S A T I O N
I N N O V A T I O N
High-tech hoses and connection systems
Outlook
Forecast for 2015
- Growth above the expected global economy growth rate
- Slightly increasing EBIT → Double-digit EBIT margin
- Confident to fulfil the annual forecast 2015
Short- to medium term perspective
More growth –also through acquisitions in the hose business
Return to dividends
Annex
Financial Calendar 2015
| 30 March | Annual report 2014, Financial press and Analysts' conference |
|---|---|
| 11 May | Q 1/2015 |
| 16 June | Annual general meeting |
| 10 August | Q 2/2015 |
| 9 November | Q 3/2015 |
| 23 - 25 November |
Equity Forum, Frankfurt |
| Contacts | |
| CFO | Mark Becks |
| IR | Dr. Annette Littmann |
| Via Email | [email protected] |
Annex - y-o-y Comparison of Key Figures
| 2013 Financial Year versus 2014 |
31.12.2013* | 31.12.2014 | Change |
|---|---|---|---|
| Turnover (k€) |
57,904 | 62,466 | 7.9% |
| EBITDA (k€) | 8,769 | 9,172 | 4.6% |
| EBIT (k€) |
6,114 | 6,317 | 3.3% |
| EBT (k€) |
4,537 | 5,194 | 14.5% |
| Consolidated result from continuing operations (k€) |
2,867 | 3,232 | 12.7% |
| Consolidated result from discontinued operations (k€) |
-80 | -154 | -92.5% |
| Consolidated result attributable to shareholders (k€) | 2,596 | 3,043 | 17.2% |
| Earnings per share (€) |
0.29 | 0.34 | 17.2% |
| EBIT margin (%) |
10.6 | 10.1 | |
| Number of employees | 550 | 567 | 3.1% |
| Consolidated equity (k€) |
21,063 | 23,835 | 13.2% |
| Consolidated total assets (k€) |
51,730 | 51,982 | 0.5% |
| Consolidated equity ratio (%) |
40.7 | 45.9 |
* Previous year figures adjusted according to IAS 8
Annex –Disclaimer
This report contains forward-looking statements regarding future developments which are based on current assessments and planning of the management. Such forward-looking statements are characterised by words such as "expect", "would", "up to", "possible", "anticipate"and similar expressions. These statements are subject to risks and uncertainties. Should one of these factors of uncertainty or other imponderables occur or should the assumptions underlying the statements prove to be incorrect, the actual developments could differ significantly from the possible developments specified or implied in these statements. The Company does not intend to and assumes no obligation to update forward-looking statements on an ongoing basis, as these statements are based exclusively on the circumstances at the date of their publication.
Picture credits: All pictures © Masterflex SE except
Slide 11 Automotive: © Nataliya Hora–Fotolia.com , Rail industry © Petair–Fotolia.com, Aviation: © arquiplay77–Fotolia.com , Renewable energy: © F.Schmidt–Fotolia.com Slide 14 © weseetheworld - Fotolia.com