DGAP-News: Masterflex AG / Key word(s): Quarter Results/Product Launch
Masterflex AG: Positive start to the 2012 financial year
24.04.2012 / 11:00
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Press Release
Positive start to the 2012 financial year
- Revenue growth and stable high EBIT margin in Q1
- Time frame for legal form conversion and spin-off announced
- Latest innovation: Self-extinguishing hose series XFlame(R) introduced
Gelsenkirchen, 24 April 2012 - Masterflex AG has had a successful start to
the 2012 financial year. According to the provisional figures, revenue rose
to EUR 14.5 million from January to March 2012. This represents a good 4%
increase on the same quarter of the previous year. The revenue growth at
the beginning of 2012 is even more remarkable given that the comparable
period of the previous year - Q1 2011 - was characterised by non-recurring
effects due to the sharp economic upturn, which saw a 24% increase in
revenue.
'On the basis of the non-recurring effects in 2011, such a noticeable
increase in revenue did not figure in our internal plans for the first
quarter of 2012', says Dr Andreas Bastin, CEO of Masterflex AG. 'Based on
this promising start to the new financial year, we are now reaffirming our
ambitious organic growth targets for 2012: Our revenue target is in the
region of EUR 57 to EUR 58 million with operating earnings (EBIT) of EUR 8
million.' EBIT for the first three months of the year came to EUR 2.1
million, resulting in an EBIT margin of 14.6%. As Bastin comments, 'We
anticipate that the EBIT margin will remain stable over the course of the
year.' The final figures will be presented as planned on 7 May 2012.
As announced a few weeks ago, the Executive and Supervisory Boards have
decided to press ahead with the conversion of Masterflex AG's legal form
into that of an SE (Societas Europaea) as well as with the reorganisation
of Masterflex AG into a pure management and financial holding company. We
are now in a position to finalise the time frame with a view to making
further preparations and in anticipation of the forthcoming Annual General
Meeting in Gelsenkirchen:
1. The conversion process of Masterflex AG to become an SE is ongoing;
this will be proposed for resolution by the forthcoming Annual General
Meeting on 19 June 2012. All formal examinations and practical
preparations have since been concluded successfully. Details on this
will be given along with the invitation, which will be handed out at
the beginning of May.
2. The spin-off process of Masterflex AG's operational business into a
GmbH is still underway. On the basis of current tax legislation
(edict of 2011 regarding the changes of corporate forms
'Umwandlungssteuererlass'), the spin-off project is still not
free of risk. It will still take some time before we are able to ensure
the requisite legal security for the shareholders. As a result, the
spin-off of Masterflex AG's operational business into a pure management
and financial holding company will be proposed for resolution at a
later Annual General Meeting.
Masterflex has also taken another important step forward in the area of
product innovation. With a brand new generation of flame-resistant hose
products - the XFlame(R) series - Masterflex is taking into account the
particularly stringent requirements governing the use of hoses, for example
in welding equipment, welding robots, spot welding guns and grinding
machines. The XFlame(R) product series will be unveiled to the general
public at this year's industrial trade fair in Hanover by Halberstadt-based
company Novoplast Schlauchtechnik GmbH - a wholly-owned subsidiary of
Masterflex AG.
This new generation of products not only demonstrates impressive
flammability resistance according to the regulations UL 94-V2 to V0, but
also boasts the all-important characteristic of being halogen-free so that
no corrosive acids are released in the worst-case scenario. The
welding-spatter-resistant XFlame(R) hoses are even self-extinguishing in
the event of a fire: The development engineers achieve this particular
characteristic - which extends far beyond flammability resistance - by
introducing specific additives that do not adversely affect the desired
hose properties. To meet the requirements of the automotive industry, for
example, all XFlame(R) hoses are also free from substance-inhibiting
materials that could prevent the application of lacquer to metal surfaces.
In addition, these hoses are also distinguishable by their specific kink
resistance, high elasticity and spectacular abrasion resistance.
'With the market launch of the XFlame(R) product series, we are
underpinning our claim to be a market leader in all of the specialist
markets we serve. Today, we already have enormous potential to develop and
bring to market new and innovative connector solutions with great customer
benefits. And another array of undiscovered opportunities is just waiting
to be tapped here in the future', says the CEO.
The Hanover industrial trade fair will take place from 23 to 27 April in
Hanover. The Masterflex Group companies will be located in Halls H5 / A32
and H 16/ D10.
The Masterflex Group is a specialist in the development and production of
high-quality connector and hose systems. With 13 operating units in Europe,
America and Asia, the Group is represented almost all over the world. Its
growth is driven by internationalisation and innovation. Masterflex shares
have been listed as Prime Standard on the German stock exchange since 2000.
Contact:
Dr. Annette Littmann, annette.littmann@masterflex.de, Phone + 49 209 970 77
44
End of Corporate News
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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
Indices: Prime all share
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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166295 24.04.2012
DGAP-News: Masterflex AG: Positive start to the 2012 financial year
| Source: EQS Group AG