Masterflex AG / Key word(s): Preliminary Results
29.03.2011 10:27
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc disclosure in accordance with section 15 WpHG
Masterflex AG: Preliminary figures for the 2010 financial year - Masterflex
exceeds own expectations
Gelsenkirchen, 29 March 2011. Masterflex AG is today reporting its
preliminary figures for the 2010 financial year. The Group recorded
operating earnings before interest and taxes (EBIT) of EUR 6.4 million in
the year under review, up 63% on the previous year. Consolidated revenue
rose by around 20% to EUR 46.1 million.
This does not include the figures for the Mobility unit. As the sale of
this segment is planned for 2011, it is reported as discontinued operations
in the consolidated financial statements. Irrespective of this, however,
the unit again significantly exceeded the most recent forecasts.
All figures are subject to the findings of the external audit, which is
currently still in progress. According to the Financial Calendar, the
finalised single-entity and consolidated financial statements will be
published on 28 April 2011.
Additional explanatory text:
In 2010, Masterflex AG successfully completed its comprehensive strategic
reorientation. The key milestones implemented and achieved in 2010 were as
follows:
- Completion of refocusing on core business, i.e. the development and
marketing of high-tech hoses and connector systems, including the
disposal of Surpro GmbH (Surface Technology), which had recorded
substantial losses in the past. The Mobility unit, the Company's last
equity interest outside its core business area, is comparatively
unimportant to the Masterflex Group from an economic perspective and is
already reported as discontinued operations in the consolidated
financial statements.
- The internationalisation strategy continued with the opening of two new
locations in Russia and Brazil.
- The 'MOVE' project, the aim of which was to comprehensively optimise
the Company's processes and workflows and cut costs, was successfully
concluded in 2010. This resulted in a number of significant earnings
effects that will continue to have structural benefits for the Company
in future.
- Another success in 2010 was securing Group finance for the long term.
In combination with the cash capital increase implemented in December,
this will provide solid foundations for the Company's further
development and planned growth. Future investment projects and the
Company's funding requirements are now sustainably secured.
The Executive Board succeeded in fully refocusing the Group on its core
competency, which lies in the development of connector and hose systems
using innovative high-tech plastics, as well as bringing about a
fundamental improvement in the Company's financial basis. The extremely
good positioning of the existing product portfolio and the related
innovations mean that additional potential will be permanently available to
Masterflex.
The latest figures for 2010 show that the decisions taken were correct and
are having the desired effect, thereby giving Masterflex AG scope for
further development on a new footing from 2011 onwards.
Further information: Masterflex AG, Investor Relations, Willy-Brandt-Allee
300,
D-45891 Gelsenkirchen, Germany, ir@masterflex.de, tel. +49 209 97077 12
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This report contains forward-looking statements regarding future
developments which are based on current assessments and planning of the
management. Such forward-looking statements are characterised by words such
as 'expect', 'would', 'up to', 'possible', 'anticipate' and similar
expressions. These statements are subject to risks and uncertainties.
Should one of these factors of uncertainty or other imponderables occur or
should the assumptions underlying the statements prove to be incorrect, the
actual developments could differ significantly from the possible
developments specified or implied in these statements. The Company does not
intend to and assumes no obligation to update forward-looking statements on
an ongoing basis, as these statements are based exclusively on the
circumstances at the date of their publication.
29.03.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Masterflex AG
Willy-Brandt-Allee 300
45891 Gelsenkirchen
Deutschland
Phone: +49 (0)209 97077-12
Fax: +49 (0)209 97077-20
E-mail: ir@masterflex.de
Internet: www.masterflex.de
ISIN: DE0005492938
WKN: 549 293
Indices: Prime all share
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Masterflex AG: Preliminary figures for the 2010 financial year - Masterflex exceeds own expectations
| Source: EQS Group AG