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Masterflex SE — Investor Presentation 2016
Aug 12, 2016
276_ip_2016-08-12_649385d4-ea00-40f6-8144-ab73404a6aaa.pdf
Investor Presentation
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The Masterflex Group
12th August 2016
The Masterflex Group at a glance
Technical leader for high-tech hoses and connection systems
- 1987 established in Germany/Ruhr region
- 12 sites in Europe, North & South America and Asia
- Sustainable good EBIT margin
- Solide balance sheet with an equity ratio of 43%
- Since 2000 listed in the Prime Standard segment
- 48% Freefloat, more than 50% with 6 major shareholders (thereof a good 6% to the Executive Board)
Q2/2016
Financial Figures –Sales Trend
Financial Figures –Results
Group EBIT & EBIT Margin
Profitability improved again 16.0%
- EBIT margin: 10.1% (previous HY: 9.2%) 14.0%
- Cost of materials ratio: 31.0% (previous HY: 31.6%) 12.0%
- Staff cost ratio: 38.1% (previous HY: 38.3%) 10.0%
4.0%
6.0%
8.0%
Package of measures from autumn 2015 is implemented step by step
Financial Figures –Results
Financial Figures –Financing
Group Equity and Financial Liabilities €million
Solid Equity Basis for Ongoing Growth
- New group syndication loan until 2021 incl. M&A- facility
- Equity increased slowlier vs. stronger asset growth
- Equity ratio of 43.7% (End of 2015: 47.7%)
Shareholder Structure
Stockholder group: largely stable combined with slightly decreasing free float
- Free flow (48.1%)
- SVB GmbH & Co. KG/ Family Schmidt (19.9%)
- Stichting Administratiekantoor Monolith (14.4%)
- BBC GmbH/ Dr. Bastin, Becks (6.1%)
- Baden-württ. Versorgungsanstalt für Ärzte, Zahn- und Tierärzte (3.6%)
- Families Bischoping (3.3%)
- J.F. Müller & Sohn (3.1%)
- Treasury shares (1.5%)
The Business Model
Our Product- and Market Pyramid
- The specialist for hightech-hoses for nearly 30 years
- Solutions for transporting gas, liquids and solids for special applications
- Consultation driven sale
- Focus on top selling and high margin products
- Effiziency enhancement launched for the processes
The Business Model –Investments
Extension of the Gelsenkirchen-Site
Key aspects of this investment
- Start of preparation in 02/2016; planned commissioning: 12/2016
- Cost of approx. €7 million: €5 million for buildings; €2 million for machines
- Overall 7,700 sqare meter new: up to 2,400 square meter for production; 3,500 square meter for store, R&D and logistics
The Business Model –Products and Brands
The Business Model –Our Customers
Mechanical engineering
Food manufacturers
Rail industry
Pharmaceutical
Aviation
Manufacturing industry
Medical technology
Renewable energy
Our Growth Strategy
Outlook
Forecast for 2016
- Growth of revenue above the global economy growth rate (2.9% expected)
- EBIT signifcant above the previous year (2015: €4.9 million)
- 1st half-year 2016: Outlook more than fulfilled!
Medium term perspective
Growth also through acquisitions in the hose business
Return to dividends
Annex
| Financial Calendar 2016 | |
|---|---|
| 30 March | Financial press conference |
| 7 April | DFVA Analyst's conference |
| 9 May | Release to Q1/2016 |
| 14 June | AGM, Gelsenkirchen |
| 12 August | Half year report 2016 |
| 14 November | Release to Q3/2016 |
| 21 - 23 November |
German Equity Forum, Frankfurt |
| Contact | |
| CFO | Mark Becks |
| IR | Dr. Annette Littmann |
| [email protected] | |
Annex –Key Figures year-on-year
| 2014 Financial Year versus 2015 | 31.12.2014 | 31.12.2015 | Change |
|---|---|---|---|
| Turnover (€k) |
62,466 | 64,112 | 2.6% |
| EBITDA (€k) | 9,172 | 7,672 | -16.4% |
| EBIT (€k) |
6,317 | 4,870 | -22.9% |
| EBT (€k) |
5,194 | 3,872 | -25.5% |
| Consolidated result from continuing operations (€k) |
3,232 | 2,252 | -30.3% |
| Consolidated result from discontinued operations (€k) |
-154 | -374 | -142.9% |
| Consolidated result attributable to shareholders (€k) | 3,043 | 1,948 | -36.0% |
| Earnings per share (€) |
0.34 | 0.22 | -35.3% |
| EBIT margin (%) |
10.1 | 7.6 | |
| Number of employees | 567 | 609 | 7.4% |
| Consolidated equity (€k) |
23,835 | 26,012 | 9.1% |
| Consolidated total assets (€k) |
51,982 | 54,484 | 4.8% |
| Consolidated equity ratio (%) |
45.9 | 47.7 |
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 2 Verlag Handelsblatt Gruppe
- Slide 11 Automotive: © Nataliya Hora–Fotolia.com, Rail industry © Petair–Fotolia.com, Aviation: © arquiplay77–Fotolia.com , Renewable energy: © F.Schmidt–Fotolia.com
- Slide 4, 13 © psdesign1–Fotolia.com