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Masterflex SE
Investor Presentation • Nov 9, 2022
276_ip_2022-11-09_2b7eb506-a2ac-417b-a7da-047d4bdfcb11.pdf
Investor Presentation
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Earnings Call Presentation 9M/2022
09 November 2022
01 _ Overview
Page 02
02 _ Key Figures 9M/2022 03 _ Outlook 2022 04 _ Appendix
AGENDA
Highlights 9-month period 2022
01 Dynamic revenue increase 27.6 %
05 Double-digit earnings target sustainably achieved with EBIT margin of 13.7% (previous year: 9.7%)
02 Strong order situation – Order backlog slightly up to EUR 24.1 million as of 30 September 2022 (31 December 2021: EUR 22.9 million) 06 Stable liquidity situation despite strategic
Page 04
working capital build-up - high cash position at EUR 9.5 million
03 High demand momentum in the traditional industrial sectors (mechanical engineering, automotive, aviation) and in medical technology 07
04 Broad diversification is reflected in stable revenue development
Growth-related expansion of the workforce at the major German sites and in the USA, as well as the resumption of production at the Czech sites
02 Key Figures
05
Key Figures (1) 9M/2022
06
Revenue increase of 27.6% in 9M/2022 and 30.1% in Q3/2022 compared to prior-year period
Group operating EBIT significantly higher in the 9-month period at 80.7% than the prior-year period
Double-digit EBIT margin of 13.7% achieved (9M/2021: 9.7%)
Excellent 9-month period
| In EUR million | 9M/2022 | 9M/2021 | Change | |
|---|---|---|---|---|
| Revenue | 76.0 | 59.6 | +27.6% | |
| EBITDA | 14.1 | 9.3 | +50.7% | |
| EBIT (operating) | 10.4 | 5.8 | +80.7% | |
| Group result | 7.3 | 3.8 | +95.0% | |
| EPS (in EUR) | 0.76 | 0.39 | +94.9% |
Key Figures (2) 9M/2022
- Margin from volume growth is passed through to EBIT
- Higher productivity through mix and economies of scale
- Inflation effects are offset in absolute terms by price increases
Trend is continuing
EUR, in million
07
Rising group equity in the 9-month period
- Consolidated equity increases to EUR 52.7 million as of 30 September 2022 (31 December 2021: EUR 45.0 million) due to positive earnings situation
- Decrease in cash and cash equivalents to EUR 9.5 million as of 30 September 2022 (31 December 2021: EUR 9.6 million) reflects working capital build-up
- Operating cashflow in 9M/2022 at EUR 5.7 million (9M/2021: EUR 3.7 million) – despite growth-related increase in working capital
Page 08
Equity increased further
Group equity and equity ratio in EUR million
45
47
49
51
53
55
57
30,0
34,0
38,0
42,0
46,0
50,0
54,0
58,0
Dividend/EPS
Development of revenue and order backlog
in EUR million
Page 09
Outlook 2022
11
Cost structures aligned to the different and Corona-related sector developments already in fiscal 2021. This has laid a sustainable foundation for profitable growth.
Business development less susceptible to cyclical fluctuations by focusing on a wide range of industries.
For the full year 2022, we expect revenue to grow to between EUR 92 and 96 million (previously: EUR 83 to 87 million).
Operating EBIT is expected to increase to between EUR 9.3 and 10.5 million (previously: EUR 8.3 to 9.0 million).
Solid order backlog and continued robust order intake expected for Q4/2022. Current uncertainties regarding Russiadependent energy supply in Germany and economic development remain.
Forecast upgrade
Outlook Medium-term forecast
12
"Masterflex's earnings will grow faster than revenue in the future."
- Organic revenue growth to approx. EUR 100 million by 2024 at the latest
- Double-digit EBIT margin from 2022 already achieved in H1/2022 and sustained in 9M/2022
- Additional growth through acquisitions to revenue level of EUR 200 million by 2030
Masterflex at a glance
| in thousand EUR | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | 9M/2022 |
|---|---|---|---|---|---|---|
| Revenue | 74,675 | 77,243 | 79,969 | 71,881 | 79,068 | 76,049 |
| EBITDA | 10,263 | 9,592 | 9,656 | 7,892 | 10,670 | 14,081 |
| EBIT (operating) | 7,081 | 6,251 | 5,058 | 3,167 | 5,764 | 10,413 |
| Group result | 4,311 | 3,373 | 2,532 | 793 | 3,282 | 7,337 |
| EPS (in EUR) | 0.45 | 0.35 | 0.26 | 0.08 | 0.34 | 0.76 |
01 Organic growth to revenue of approx. EUR 100 million by 2024 at the latest
02 Double-digit EBIT margin already achieved
Contact Investor Relations
Page 15
Address
Masterflex SE Mark Becks, CFO Willy-Brandt-Allee 300 45891 Gelsenkirchen
CROSS ALLIANCE communication GmbH Susan Hoffmeister Bahnhofstraße 98 82166 Graefelfing/Munich Phone
Phone.: +49 209 97077 0 Fax: +49 209 97077 33
Tel.: +49 89 125 09 03 33
Online
[email protected] [email protected]
