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Masterflex SE Investor Presentation 2024
276_ip_2024-04-02_285821de-7d19-408f-b83e-4dfb00b9a484.pdf
Investor Presentation
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Earnings Call Presentation 2024
28 March 2024
01 _ Overview
02 _ Key Figures 2023 03 _ Outlook 2024 04 _ Appendix
AGENDA
Page 02
Page
01
Group operating EBIT grew by 10.4% to EUR 12.6 million (2022: EUR 11.4 million)
05
Increase in Group equity to EUR 57.6 million (2022: EUR 52.0 million); solid 02 equity ratio of 61.5% (2022: 57.6%)
Stable and high demand dynamics in the aviation business, life science sector and medical technology
06
Liquidity expanded despite increase in working capital - cash and bank balances rise to EUR 11.0 million (2022: EUR 9.7 03 million)
Rising share of high-margin revenue – revenue share from medical technology increases from 17% in 2022 to 19% in 2023
07
04
Significant increase in profitability from 11.4% to 12.4% in the operating EBIT
Order backlog as of 31.12.2023 remains at a high level at EUR 20.5 million (2022: EUR 22.8 million)
Dividend increase of 25% to EUR 0.25 per share 08 (2022: EUR 0.20) planned
Page 04
Key Figures 2023
Page
06
§ Stable revenue despite stagnating or declining development in cyclically sensitive customer sectors
§ Double-digit EBIT margin consolidated - to 12.4% (2022: 11.4%)
§ Improved material usage ratio of 31.8% (2022: 34.2%) thanks to productivity improvements and increased use of recyclate
§ Rising personnel costs were offset by higher productivity
| in EUR million | 2023 | 2022 | Change |
|---|---|---|---|
| Revenue | 101.1 | 100.3 | +0.8% |
| EBITDA | 17.9 | 16.4 | +8.7% |
| EBIT (operating) | 12.6 | 11.4 | +10.4% |
| Group result | 8.0 | 7.8 | +2.8% |
| EPS (in EUR) | 0.83 | 0.81 | +2.8% |
Strong full year 2023
-
-
Individual quarters 2023
Operating EBIT by quarter in EUR million
Revenue by quarter in EUR million
§ EBIT increase thanks to higher productivity and further cost reductions
§ EBIT margin rises to 12.4%
Page 08
Rising Group equity in the fiscal year 2023
§ Consolidated equity increases to EUR 57.6 million as at 31.12.2023 due to the positive earnings situation (31.12.2022: EUR 52.0 million)
§ Increase in cash and cash equivalents as of 31.12.2023 to EUR 11.0 million (31.12.2022: EUR 9.7 million) driven by increase in operating result
§ Net debt reduced to EUR 13.1 million (31.12.2022: EUR 16.8 million)
§ Earnings per share increase to EUR 0.83 (2022: EUR 0.81)
§ Dividend of EUR 0.25 per share planned (+25%)
Equity increased further
Group equity and equity ratio in EUR million
30,0 34,0 38,0 42,0 46,0 50,0 54,0 58,0 62,0
Dividend/EPS
Masterflex share and analyst ratings
Page 09
Montega Research 13.03.2024 BUY – 15.00 EUR
SMC Research 13.03.2024 BUY – 14.30 EUR
Metzler 11.03.2024 BUY – 13.50
Page
Outlook 2024
Page
11
Stable and robust growth expected in medical technology, aerospace, life science and other specialist industries
Business development resistant to economic cycles due to focus on a large number of sectors
Order backlog of EUR 20.5 million as at 31.12.2023 remains at a sufficiently high level
Operating EBIT expected in the range of EUR 12 million to EUR 15 million in 2024 (2023: EUR 12.4 million)
Further structural improvements and
diversification of growth strategy Revenue growth for 2024 expected between EUR 100 million to EUR 107 million (2023: EUR 101.1 million)
Outlook Medium-term forecast
Page 12
"The Company phase ahead of us is marked by growth."
§ Increasing digitalisation and further internationalisation coupled with organic and
§ Additional leverage through organic growth and acquisitions to achieve revenue level of EUR 200 million by 2030 - focus shifts towards organic growth thanks to
- inorganic growth form the strategic basis for long-term growth
- robust growth perspective
- § Further increase in profitability thanks to the use of economies of scale
§ Extended product and service range in the circular economy planned based on Ampius hose system - more detailed communication on this in early summer
§ Focus on megatrends such as green energy, semiconductors, life science, medical technology and a suitable portfolio of solutions ensures sustainable growth
Masterflex at a glance
Revenue in EUR million
20 EBITDA in EUR million
0369
12
15
EBIT (operating ) in EUR million
0.35
Financial Calendar 2024
Page
15
| 23 April | Metzler Small Cap Days | |
|---|---|---|
| 8 May | Quarterly Statement 1/2024 | |
| 12 June |
Annual General Meeting 2024 | |
| 7 August | Half-Year Report 2024 | |
| 21 – 23 August |
HIT - Hamburger Investors Day |
|
| 6 November | Quarterly Statement 3/2024 | |
| 13 November | Munich Capital Markets Conference |
|
Contact Investor Relations
Page 16
Masterflex SE Mark Becks, CFO Willy-Brandt-Allee 300 45891 Gelsenkirchen
CROSS ALLIANCE communication GmbH Susan Hoffmeister Bahnhofstr. 98 82166 Graefelfing/Munich
Phone
Tel.: +49 209 97077 0 Fax: +49 209 97077 33 Tel.: +49 89 125 09 03 33
Online
[email protected] [email protected]
