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Masterflex SE Investor Presentation 2024
276_ip_2024-11-10_bfcade4e-6098-4f86-b3ba-6ac62bb85da4.pdf
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RMASTERFLEX GROUP
Earnings Call Presentation
9M/2024
ACENDA
01 Overview
02 Key Figures 9M/2024
03 Outlook 2024
04 Appendix
01 | Overview
Highlights in the nine-month period 2024
Group revenue despite declining economic momentum almost stable at EUR 76.9 million (9M/2023: EUR 79.0 million)
2
Overall improved profitability: operating EBIT margin rises from $14.0 \%$ to $14.5 \%$
New syndicated loan provides strategic flexibility to implement the future strategy HERO@ZERO and M\&A
Order situation: Robust growth in the food and semiconductor industries; aviation remains at a high level; catch-up effects from medical technology expected in 2025
Order backlog as of 30 September 2024 remains at a high level of EUR 17.1 million (31/12/2023: EUR 20.5 million)
Increase in Group equity to EUR 61.9 million (31/12/2023: EUR 57.6 million); solid equity ratio of $63.4 \%$ (31/12/2023: 61.5\%)
Guidance for 2024 confirmed: Revenue between EUR 100 million and EUR 107 million, EBIT between EUR 12 million and EUR 15 million expected
Dividend increase of 25\% to EUR 0.25 per share (2023: EUR 0.20)
Masterflex - Refinancing for more strategic flexibility
Profitability increased after nine months
- Revenue slightly below previous year's figure due to economic conditions
- Operating EBIT margin expanded to $14.5 \%$ (9M/2023: 14.0\%)
- Stable earnings reflect favorable product mix and efficiency improvements
- Cost of materials ratio (measured in terms of total output) at 29.3\% (9M/2023: $32.2 \%)$
- Higher labour costs due to inflation partially offset by productivity increases
- Group result influenced by higher tax rate
| in EUR million | 9M/2024 | 9M/2023 | Change |
|---|---|---|---|
| Revenue | 76.9 | 79.0 | $-2.6 \%$ |
| EBITDA | 15.1 | 14.7 | $+2.7 \%$ |
| EBIT (operating) |
11.2 | 11.0 | $+1.3 \%$ |
| Consolidated result |
7.1 | 7.2 | $-2.0 \%$ |
| EPS (in EUR) |
0.74 | 0.75 | $-1.3 \%$ |
Rising Group equity in the nine-month period 2024
Group equity in EUR million and equity ratio
Dividend/EPS
Equity increased
- Group equity increases to EUR 61.9 million as of 30 September 2024 due to the positive Group result (31/12/2023: EUR 57.6 million)
- Equity ratio higher at 63.4\% (31/12/2023: 61.5\%)
- Net debt reduced to EUR 12.0 million (31/12/2023: EUR 13.1 million) due to repayments and op. cash flow
- Earnings per share of EUR 0.74 (previous year: EUR 0.75) stable despite higher financing costs and tax effect
- Dividend of EUR 0.25 per share $(+25 \%)$
Masterflex share and analyst ratings
Development of the share price from April 2023 to end of October 2024 in EUR (on Xetra basis)
Analyst ratings
Consensus expectations revenue in EUR million
Shareholder structure
Consensus expectations EPS in EUR
Shareholder structure
Lazard Frères Gestion S.A.S. 3.02\%
BBC GmbH / Dr. Bastin, Becks 6.61\%
SMC Research 07/11/2024 BUY - EUR 15.20
OS | Outlook
Outlook 2024
Outlook medium-term forecast
- Increasing digitalisation and further internationalisation coupled with organic and inorganic growth form the strategic basis for longterm growth
- Additional leverage through organic growth and acquisitions to achieve revenue level of EUR 200 million by 2030 - focus shifts towards organic growth thanks to robust growth perspective
- Extended product and service range in the circular economy planned based on Ampius hose system
- Further increase in profitability thanks to the use of economies of scale
- Focus on megatrends such as green energy, semiconductors, life science, medical technology and a suitable portfolio of solutions ensures sustainable growth
"The Company's operating phase ahead is marked by growth."
RMASTERFLEX GROUP
Thank you
04 | Appendix
Masterflex at a glance
Revenue
in EUR million
EBIT (operating)
in EUR million
EBITDA
in EUR million
EPS
in EUR
EBIT
in EUR million
EBITDA
in EUR million
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
EBIT
in EUR
,0.550,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
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EBIT
in EUR
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EBIT
in EUR
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EBIT
in EUR
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EBIT
in EUR
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EBIT
in EUR
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EBIT
in EUR
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EBIT
in EUR
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EBIT
in EUR
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EBIT
in EUR
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EBIT
in EUR
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EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
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EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
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EBIT
in EUR
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EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
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EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
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EBIT
in EUR
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EBIT
in EUR
,0.550
EBIT
in EUR
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EBIT
in EUR
,0.550
EBIT
in EUR
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EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
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EBIT
in EUR
,0.550
EBIT
in EUR
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EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
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EBIT
in EUR
,0.550
EBIT
in EUR
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EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
EBIT
in EUR
,0.550
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,0.550
,0.550
,0.550
,0.550
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0.550,0.492,0.550
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0.550,0.492,0.550
0.550,0.492,0.50
0.550,0.492,0.550
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0.550,0.492,0.550
0.550,0.492,0.550
0.550,0.492,0.550
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0.550,0.492,0.550
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0.550,0.492,0.50
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0.550,0.492,0.550
0.550,0.492,0.550
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0.550,0.50
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0.50,0.50
0.550,0.492,0.50
0.550,0.50
0.550,0.50
0.550,0.492,0
0.550,0.50
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0.550,0.50
0.550,0.50
550
0.50,0.50
50,0
50
0.50,0.50
50,0
50
50,0
50
550
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
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50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
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50
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50
Financial calendar 2024
| 6 November | Quarterly Statement 3/2024 |
|---|---|
| 13 November | MKK - Munich Capital Markets Conference |
RMASTERFLEX GROUP
Connecting Values
Masterflex SE
Willy-Brandt-Allee 300
45891 Gelsenkirchen
Germany
www.masterflexgroup.com
Tel +49 209970770
Fax +49 2099707733
[email protected]
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Bahnhofstraße 98
82166 Gräfelfing/München
www.crossalliance.de
Tel +89 125090333
[email protected]