Masterflex AG / Final Results/Miscellaneous
31.03.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Masterflex AG forecasts further revenue and EBIT growth in 2008
Growth driven by innovations and globalisation<pre>
IFRS 31 Dec. 2007 31 Dec. 2006 +/-
Revenue ( thou.) 138,618 115,706 19.8%
EBITDA ( thou.) 18,441 17,239 7.0%
EBIT ( thou.) (before impairment 15,375 14,198 8.3%
2006)
EBIT ( thou.) (after impairment 15,375 10,143 51.6%
2006)
EBT ( thou.) 11,718 7,183 63.1%
Consolidated net profit ( thou.) 7,469 4,478 66.8%
Earnings per share () 1.71 1.03 66.8%
Net dividend per share () 0.80 0.80 0.0%
Total assets ( thou.) 130,087 112,719 15.4%
Shareholders equity ( thou.) 34,772 31,520 10.3%
Equity ratio 26.7% 28.0%
Employees (at 31 Dec.) 872 778 12.1%</pre>
Gelsenkirchen, 31 March 2008. Masterflex AG, Gelsenkirchen (ISIN
DE0005492938), a technology leader for special plastics processing, expects
to record further successful growth in the 2008 financial year. This was
confirmed by the Executive Board during the presentation of the Companys
2007 annual financial statements at todays financials press conference in
Düsseldorf.
2007 was a successful year for Masterflex AG, with the intensified
globalisation of its business activities, particularly in Eastern Europe
and Asia, and the completion of the restructuring process in the Medical
Technology business unit as previously announced.
Consolidated revenue increased for the 20th year in succession, rising by
19.8% to 138.6 million. The Group also recorded encouraging earnings
development: consolidated earnings before interest, taxes, depreciation and
amortisation (EBITDA) grew by 7.0% to 18.4 million, while consolidated
earnings before interest and taxes (EBIT) increased by 51.6% to 15.4
million (2006: 10.1 million). After adjustment for the write-down of
goodwill in the previous year, EBIT grew by 8.3%. Consolidated net profit
and EBIT both fell within the Groups forecast range.
Consolidated net profit also increased by 66.8% to 7.5 million (previous
year: 4.5 million), corresponding to earnings per share of 1.71 (previous
year: 1.03).
The Groups asset situation continued to improve. Total assets increased by
15.4% to 130.1 million (previous year: 112.7 million), resulting in an
equity ratio of 26.7%. The Groups successful operating performance was
also reflected in its workforce, with the number of employees increasing to
872 in the 2007 financial year (previous year: 778).
Revenue and earnings growth was achieved across all of Masterflexs
business units. In its core High-Tech Hose Systems segment, revenue
increased by 9.5% to 45.3 million, while EBIT rose by 5.4% to 9.7
million. The Medical Technology business unit recorded revenue growth of
2.1% to 18.3 million, while segment EBIT improved from -4.0 million in
the previous year to 0.2 million. Substantial EBIT growth is forecast for
2008.
Revenue in the Advanced Material Design business unit increased by 36.6% to
25.4 million, whereas EBIT recorded below-average growth of 7.4% to 2.3
million. Development in the Mobile Office Systems business unit was highly
dynamic, with EBIT improving by 20.8% to 4.8 million on the back of
revenue growth of 31.2% to 49.7 million.
On account of the Groups successful overall business development, the
distribution of a dividend of 0.80 per share will be proposed to the
Annual General Meeting on 4 June 2008 the same level as in the previous
year.
Masterflex AG believes that it is well positioned for its further business
development in 2008. The Executive Board expects the Company to continue on
its growth path, with consolidated revenue increasing by 10-15% and
consolidated earnings before interest and taxes (EBIT) by 6-12%; however,
this figure could still be impacted by non-recurring effects.
The complete 2007 Annual Report will be available for download at
www.masterflex.de from 15 April 2008.
DGAP 31.03.2008
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Language: English
Issuer: Masterflex AG
Willy-Brandt-Allee 300
45891 Gelsenkirchen
Deutschland
Phone: +49 (0)2099 70 77-44
Fax: +49 (0)2099 70 77-20
E-mail: Kniep@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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DGAP-News: Masterflex AG forecasts further revenue and EBIT growth in 2008
| Source: EQS Group AG