Corporate | 11 August 2011 07:30


Masterflex AG confirms successful first half of 2011


Masterflex AG / Key word(s): Half Year Results

11.08.2011 / 07:30

Masterflex AG confirms successful first half of 2011

– Revenue growth of 19.9%

– EBIT margin of 15.1%

– Earnings per share EUR 0.16

– Equity back over 24%

– Wide range of client industries means less dependence on the economic cycle


Gelsenkirchen, 11 August 2011 – Masterflex AG is maintaining its positive start to the year with the half-year results published today. The Group, a globally operating specialist for the development and production of connector and hose systems using high-tech plastics, recorded revenue growth of 19.9% in the first half of 2011 to a total of EUR27.2 million. It also increased its EBIT by 36% to EUR4.1 million. Accordingly, Masterflex is well within its annual forecast (2011 revenue: +8 – 10% to EUR50-51 million; EBIT EUR7.0 million).

CEO Dr Andreas Bastin notes: 'Thanks to the measures we have taken and the economic situation, our business has developed very well. For our further expansion beyond the current economic cycle, our internationalisation and innovation strategy has begun to bear fruit. Following the launch of our activities in the Russian and Brazilian markets in 2010, we began direct distribution in the Czech Republic in early summer. After introducing our templine heated hoses at the beginning of the year, we are launching high-performance smooth bore hoses made from modified POM (polyoxymethylene) as an alternative to conventional polyamide (PA) products that are now virtually unavailable on the market. As a result, we are optimistic about the years ahead: Regardless of our clients' regional or industrial economic cycles, Masterflex is growing.'

All of the Group's previous activities apart from the high-tech hose business have been sold or, in the case of the remaining fuel cell technology activities, are available for sale. The balance sheet has been adjusted for the remaining activities outside of high-tech hose and these are posted as discontinued business units.

The Executive Board has confirmed its 2011 forecast due to seasonal effects and start-up costs for the Group's internationalisation activities.

In EUR thousand 30 June 2011 30 June 2010 Change
Consolidated revenue 27,176 22,669 + 19.9%
EBITDA 5,422 4,188 + 29.5%
EBIT 4,104 3,014 + 36.2%
EBT 2,996 648 + 362.3%
Earnings/loss from continued business units 1,733 514 + 237.2%
Earnings/loss from discontinued business units -140 -5,395
Consolidated
net income/loss 		1,447 -4,974
Earnings per share (EUR) 0.16 -1.14
EBIT-Margin 15.1% 13.3%
Number of employees 447 358 + 24.9%
30 June 2011 31 December 2010
Consolidated Equity 13,369 12,213 + 9.5%
Consolidated financial liabilities 28,538 37,437 – 23.8%
Consolidated total assets 55,052 65,416 -15.8%
Equity ratio 24.3% 18.7%

You can download the interim report on www.masterflex.de .



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Language: English
Company: Masterflex AG
Willy-Brandt-Allee 300
45891 Gelsenkirchen
Germany
Phone: +49 (0)209 97077-44
Fax: +49 (0)209 97077-20
E-mail: annette.littmann@masterflex.de
Internet: www.masterflex.de
ISIN: DE0005492938
WKN: 549 293
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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