DGAP-News: Masterflex AG / Key word(s): Half Year Results
Masterflex AG confirms successful first half of 2011
11.08.2011 / 07:30
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Masterflex AG confirms successful first half of 2011
- Revenue growth of 19.9%
- EBIT margin of 15.1%
- Earnings per share EUR 0.16
- Equity back over 24%
- Wide range of client industries means less dependence on the economic
cycle
Gelsenkirchen, 11 August 2011 - Masterflex AG is maintaining its positive
start to the year with the half-year results published today. The Group, a
globally operating specialist for the development and production of
connector and hose systems using high-tech plastics, recorded revenue
growth of 19.9% in the first half of 2011 to a total of EUR 27.2 million.
It also increased its EBIT by 36% to EUR 4.1 million. Accordingly,
Masterflex is well within its annual forecast (2011 revenue: +8 - 10% to
EUR 50-51 million; EBIT EUR 7.0 million).
CEO Dr Andreas Bastin notes: 'Thanks to the measures we have taken and the
economic situation, our business has developed very well. For our further
expansion beyond the current economic cycle, our internationalisation and
innovation strategy has begun to bear fruit. Following the launch of our
activities in the Russian and Brazilian markets in 2010, we began direct
distribution in the Czech Republic in early summer. After introducing our
templine heated hoses at the beginning of the year, we are launching
high-performance smooth bore hoses made from modified POM
(polyoxymethylene) as an alternative to conventional polyamide (PA)
products that are now virtually unavailable on the market. As a result, we
are optimistic about the years ahead: Regardless of our clients' regional
or industrial economic cycles, Masterflex is growing.'
All of the Group's previous activities apart from the high-tech hose
business have been sold or, in the case of the remaining fuel cell
technology activities, are available for sale. The balance sheet has been
adjusted for the remaining activities outside of high-tech hose and these
are posted as discontinued business units.
The Executive Board has confirmed its 2011 forecast due to seasonal effects
and start-up costs for the Group's internationalisation activities.
|[![CDATA[|[pre|]]]|]
In EUR thousand 30 June 30 June 2010 Change
2011
Consolidated revenue 27,176 22,669 + 19.9%
EBITDA 5,422 4,188 + 29.5%
EBIT 4,104 3,014 + 36.2%
EBT 2,996 648 +
362.3%
Earnings/loss from continued business 1,733 514 +
units 237.2%
Earnings/loss from discontinued -140 -5,395
business units
Consolidated
net income/loss 1,447 -4,974
Earnings per share (EUR) 0.16 -1.14
EBIT-Margin 15.1% 13.3%
Number of employees 447 358 + 24.9%
30 June 31 December
2011 2010
Consolidated Equity 13,369 12,213 + 9.5%
Consolidated financial liabilities 28,538 37,437 - 23.8%
Consolidated total assets 55,052 65,416 -15.8%
Equity ratio 24.3% 18.7%
|[![CDATA[|[/pre|]]]|]
You can download the interim report on www.masterflex.de.
End of Corporate News
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11.08.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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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
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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135155 11.08.2011
DGAP-News: Masterflex AG confirms successful first half of 2011
| Source: EQS Group AG