World News: 09:00 GMT Friday 10th August 2018. [EQS Group via SPi World News]
DGAP-News: Masterflex SE / Key word(s): Half Year Results
Masterflex SE: Increase in growth momentum in the second quarter of 2018
- Revenues in the first half of 2018 grow by 2.4% to EUR 39.7 million
- Operating EBIT of EUR 3.6 million slightly below previous year's level
- Earnings per share rise from EUR 0.20 to EUR 0.22
The good business development was particularly evident in the incoming orders and the sales successes achieved. At the same time, the challenge currently is to improve delivery capacity to the target level, in particular to generate revenues from existing orders with corresponding earnings contributions even faster. The currently somewhat unsatisfactory situation dampens the current earnings trend in addition to higher energy and freight costs. Masterflex achieved consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 5.2 million in the first half of 2018 after EUR 5.4 million in the same period of the previous year. Earnings before interest and taxes (EBIT) remained stable year-on-year at EUR 3.5 million. Operating EBIT (operating EBIT = EBIT before discontinued business units and non-operating income and expenses) decreased from EUR 3.8 million to EUR 3.6 million in the first half of 2018.
Consolidated net income improved by 6.1% from EUR 1.9 million to EUR 2.1 million. Earnings per share (from continuing business units) rose from EUR 0.20 to EUR 0.22.
Dr. Andreas Bastin, CEO of Masterflex SE: 'We are developing in the desired and predicted direction. For the full year 2018, we want to grow revenues by between 4% and 8%. In absolute numbers, this means that we want to achieve revenues in the range of EUR 78 million to EUR 81 million. We plan this growth without acquisitions. However, it also implies that we are able to repeat the revenues of the first half of the year, which is certainly a challenging goal. The corresponding momentum in incoming orders is present, demand is there. Now we are working on providing the necessary capacities, for example through special shifts and short-term personnel development measures. In terms of earnings and margin development, we are somewhat more restrained this year, especially in view of the many challenges and the situation on the commodity markets, as far as our expectations are concerned.' The goal of Masterflex for 2018 is to increase operating income in line with revenues and thus to confirm the EBIT margin of 9.5% from 2017.
Note: The half-year report as of 30 June 2018 can be found on the internet at https://www.masterflexgroup.com/en/investor-relations/financial-reports/2018.html.
Masterflex Group specializes in the development and production of high-quality hose and connection systems. With 14 operating units in Europe, America and Asia, the Group maintains a nearly global presence. Its growth drivers are internationalization, innovation, operational excellence and digitization. Masterflex shares (German Securities ID: 549293) have been admitted for trading in Deutsche Börse's Prime Standard segment since 2000.
Contact: Frank Ostermair/Linh Chung, Better Orange IR & HV AG, Phone: 49 89 88 96 906 14,
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|End of News||DGAP News Service|
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