MASTERFLEX SE 
By Very good start in 2014 - Revenue growth of 11.5% - EBIT margin of 13.0% - Progress in optimisation of internal processes
Very good start in 2014
- Revenue growth of 11.5 % in Q1
- EBIT margin of 13,0%
- Progress of optimisation of internal processes
Gelsenkirchen, 12 May 2014 - With an increase in revenue of 11.5%, the Masterflex Group's business with high-tech hoses and connecting systems had an excellent start in 2014. Revenue of € 16.0 million was generated in the first three months (previous year: € 14.3 million). Masterflex CEO Dr Andreas Bastin commented: "Even though some of this increase is due to this year's late Easter, the incoming orders show us that our business is doing well."
The solid business performance is also the reason why EBIT rose even more strongly than revenue, surging by 19% to € 2.1 million (€ 1.8 million). The Masterflex Group is increasingly able to more effectively utilise the personnel capacity established for its international expansion. This is because the growth strategy of the specialist for hightech hoses is based on innovation and internationalisation, for which new staff has been secured in recent years and months. This led to evident upfront costs in 2013 in particular, as recruiting and training staff, in addition to tapping markets, takes time.
The Masterflex Group has also taken a leap forward in terms of innovation with the Master-PUR Trivolution® spiral hose launched in February (see press release of 21 February 2014). This hose combines three key additional properties for on-site operation: it is antistatic, has low flammability and microbe resistance. The initial feedback from the market has been very good.
With net finance costs virtually constant, the consolidated net profit for Q1/2014 amounted to € 1.1 million (previous year: € 0.9 million), corresponding to € 0.13 per share (previous year: € 0.11).
Three out of four German locations have been reorganised under single management since January 2014. This measure - which is also visible from the outside - was implemented as part of the optimisation of internal processes begun some time ago.
At the Annual General Meeting on 24 June 2014, the Executive Board and the Supervisory Board will propose creating new contingent capital of up to € 4.4 million after the previously approved contingent capital expires in July 2014. With this step the Masterflex Group intends to preserve its flexibility in financing possible steps in its future expansion as well, as the market for hightech hoses and connecting system still offers great potential for growth.
Key figures Q1/2014
31.03.2014
31.03.2013
Change
Consolidated revenue (k€)
15,988
14,339
+ 11.5%
EBITDA(k€)
2,768
2,377
+ 16.4%
EBIT(k€)
2,085
1,752
+ 19.0%
EBT (T€
1,750
1,470
+ 19.0%
Consolidated earningsfrom contiuned business units (k€)
1,163
967
+ 20.3%
Consolidatedearnings from discontiuned business units(k€)
-19
3
Consolidated net income/loss (k€)*
1,136
945
+ 20.2%
Earnings persharefrom continued business units (€)
0.13
0.11
+ 18.2%
Earnings persharefrom discontinued business units (€)
0.00
0.00
Earnings pershare (€)
0.13
0.11
+ 18.2%
EBIT margin
13.0%
12.2%
Employees
568
506
+ 12.3%
31.03.2014
31.12.2013
Change
Consolidated equity(k€)
24,106
23,023
+ 4.7%
Consolidated total assets(k€)
54,895
53,690
+ 2,2%
Consolidated equity ratio(%)
43.9%
42.9%
*without minority interests
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