DGAP-News: Masterflex SE: Continuation of growth course with stable earnings development in the first half-year 2019

Masterflex SE: Continuation of growth course with stable earnings development in the first half-year 2019

• Revenue growth of 5.7% in the first half-year with slightly increasing momentum in the second quarter
• Stable operating EBIT of EUR 3.6 million
• Presentation of the optimisation programme on 2 September

Gelsenkirchen, 9 August 2019 - The Masterflex Group was able to continue growing in the first half-year 2019, increasing revenue by 5.7% from EUR 39.7 million to EUR 41.9 million. On a quarterly basis, development in the first three months of the year was partly boosted by positive catch-up effects from the increased order backlog in 2018, while revenue momentum picked up again slightly in the second quarter thanks to a very satisfactory course of business. The Masterflex Group is therefore well on the way to recording revenue growth in 2019 as well - for the 10th year in succession - and to achieving its revenue forecast of 3.0% to 6.0% growth for 2019 as a whole.

On the earnings side, the Masterflex Group performed consistently well in the first half-year. Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 7.3% year-on-year from EUR 5.2 million to EUR 5.6 million. Operating EBIT (EBIT before discontinued business units and non-operating income and expenses) amounted to EUR 3.6 million in the reporting period and was thus at the same level as in the prior-year period. The positive revenue development was offset by higher raw material prices, wage and salary increases and the measures taken in 2018, particularly at the Gelsenkirchen site, to increase the workforce. This resulted in consolidated earnings after taxes of EUR 2.1 million and earnings per share (from continued business units) of EUR 0.22, which were on a par with the previous year.

Dr. Andreas Bastin, CEO of Masterflex Group: "In the first six months of 2019, we were very successful in finding a balance in a very central task: on the one hand, to further develop our operating business and consistently exploit our growth opportunities, such as those currently offered to us in medical technology in particular. And on the other hand, to develop and advance our announced optimisation programme in parallel - without affecting our operational development in this phase. We will present in detail the concrete measures and the expected effects with the objective of achieving a double-digit EBIT margin again on a sustained basis at the beginning of September." For 2019 as a whole, the Masterflex Group continues to expect a slight improvement in earnings based on operating EBIT compared with 2018.
 

Notes:
The Executive Board of Masterflex SE will present its optimisation programme on
2 September at 16:00 hrs as part of a public audio webcast and on 3 September as part of the autumn conference in Frankfurt.

The Half-Year Report as of 30 June 2019 is available on the Internet at https://www.masterflexgroup.com/en/investor-relations/financial-reports/2019.html.

The Masterflex Group specialises in the development and production of high-quality hose and connection systems. With 14 operating units in Europe, America and Asia, the Group maintains a nearly global presence. Its growth drivers are internationalisation, innovation, operational excellence and digitisation. Masterflex shares (German Securities ID: 549293) have been admitted for trading in Deutsche Börse's Prime Standard segment since 2000.

Contact: Frank Ostermair/Linh Chung, Better Orange IR & HV AG, Phone: 49 89 88 96 906 14, E-mail: [email protected]