Masterflex AG / Quarter Results/Quarter Results 07.11.2008 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Report on the first nine months of 2008 Masterflex records growth in profitable core business -Core High-Tech Hose Systems business unit enjoys high growth rates in the USA -Revised forecast for 2008 as a whole Gelsenkirchen, November 7, 2008. In the first nine months of the 2008 financial year, Masterflex AG increased its consolidated revenue by 2.5% year-on-year to 103.4 million. Operating earnings before interest and taxes (EBIT) remained unchanged compared with the previous year at 9.6 million. However, this figure failed to meet the Companys ambitious growth targets due to the effects of the financial crisis and valuation allowances in the second quarter. The core High-Tech Hose Systems business unit developed positively in a difficult economic environment, further reiterating the success of Masterflexs focus on its core activities. Segment revenue increased by 7.8% to 34.7 million, while operating segment EBIT improved by 8.2% to 7.0 million. The core business unit again proved to be the most important segment, accounting for 73.0% of consolidated earnings development. Strong progress was made in the global expansion process, particularly in the USA. By contrast, Masterflex AG's non-core activities and the Advanced Material Design segment in particular were considerably more susceptible to periods of economic weakness. The newest business unit, Fuel Cell Technology, is not yet sufficiently developed to make a positive contribution to the Groups business performance. With the expansion of its profitable High-Tech Hose Systems segment, Masterflex AG is aiming to return to a situation where it is affected by external factors to a lesser extent. The Company expects to meet its forecasts for the current financial year in the High-Tech Hose Systems and Medical Technology business units. However, the financial crisis is likely to have a further adverse effect on the other business units. As a result, the Executive Board of Masterflex AG now expects operating EBIT for the 2008 financial year as a whole to decline to around 12-13 million. The Company had previously forecast growth of 6-12%. CEO Dr. Andreas Bastin emphasised the fact that Masterflex AG has established a clear vision that provides a roadmap for the future, with a focus on its superior core competencies. Although the challenges have intensified as a result of the difficult environment, the systematic restructuring of the Masterflex Group will continue. The report on the first nine months of 2008 can be downloaded from the Companys website at www.masterflex.de. IFRS ( thou.) 30.09.2008 30.09.2007 Change (figures in brackets: excluding adjustments) Revenue 103,355 100,801 2.5% EBITDA 11,654 (12,036) 11,902 -2.1% (1.1%) EBIT 7,316 (9,645) 9,692 -24.5 % (-0.5%) EBT -1,184(7,210) 7,901 -115.0% (-8.7%) Net profit -1,160 (4,716) 4,974 -123.3% (-5.2%) Earnings per share () -0.27 (1.08) 1.14 -123.7% (-5.3%) Net profit margin -1.1% (4.6%) 4.9% EBIT-margin 7.1% (9.3%) 9.6% Staff 752 789 -4.7% 30.09.2008 31.12.2007 Change Equity 30,364 (36,240) 34,772 -12.7% (4.2%) Total assets 131,438(137,115)130,087 1.0% (5.4%) Equity ratio 23.1% (26.4%) 26.7% -13.5% (-1.1%) Further information: Masterflex AG, Investor Relations, Willy-Brandt-Allee 300,D-45891 Gelsenkirchen, stephanie.kniep@masterflex.de, Tel. +49 209 97077 44, Fax +49 209 97077 20 Further information: Masterflex AG, Investor Relations, Willy-Brandt-Allee 300,D-45891 Gelsenkirchen, stephanie.kniep@masterflex.de, Tel. +49 209 97077 44, Fax +49 209 97077 20 DGAP 07.11.2008 --------------------------------------------------------------------------- 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: stephanie.kniep@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 ---------------------------------------------------------------------------
DGAP-News: Masterflex AG Masterflex records growth in profitable core business Nine months report 2008
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