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Masterflex SE — Investor Presentation 2014
Mar 31, 2015
276_ip_2015-03-31_0923c77b-be80-4fd4-9b1e-eabaadd07baf.pdf
Investor Presentation
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The Masterflex Group
30th March 2015
Masterflex SE at a Glance
The Financial Year 2014
Financial Year 2014 –Sales Trend
Turnover
Successful Course in 2014
- Dynamic sales growth of 7.9% (previous year 5.3%)
- Export activities in particular dynamic
- Increasing revenue in medical technology (2014: 14.4%; 2013: 13.1%, 2008: 9.2% of turnover)
- Compliance system expanded
Financial Year 2014 –Operating Result
Group EBIT and Margin
© Masterflex SE
Financial Year 2014 –Net Income
Consolidated Net Income *
€million
Net Income Increasing Again
- Financial result: € -1.1 million
- (2013: €-1.6 million)
- Earnings per share: €0.34 (2013*: €0.29)
- Adjustment of deferred taxes according to IAS 8 in years 2010 to 2013
* Previous year figures adjusted according to IAS 8
Financial Year 2014 –Equity
Equity and Equity Ratio*
Increasing Equity
- Drivers: net income and capital
- measures (in 2010)
- Equity ratio at 45.9%
- Ability for dividend distribution 2014 achieved (individual accounts relevant)
Financial Year 2014 –Refinancing
Financial Liabilities
€million
Strong Debt Reduction Achieved
- Drivers: further increased net cash flow from operating activities
- Group refinancing until 2018
- M&A facility available
- Net debt / EBITDA: 1.7
Shareholder Structure
Structure Stable since Last Capital Increase
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
Pharmaceutical
Rail industry
Manufacturing industry
Medical technology
Renewable energy
The Business Model –Products and Brands
Our Growth Strategy
Above average,
profitable growth with sustainable earnings
Outlook
Forecast for 2015
- Growth above the expected global economy growth rate
- Slightly increasing EBIT → Double-digit EBIT margin
Short- to medium term perspective
- More growth –also through acquisitions in the hose business
Return to dividends
Vision: Global market leader in all targeted markets!
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 12 Automotive: © Nataliya Hora–Fotolia.com , Rail industry © Petair–Fotolia.com,
Aviation: © arquiplay77–Fotolia.com , Renewable energy: © F.Schmidt–Fotolia.com
Slide 16 © weseetheworld - Fotolia.com