MASTERFLEX SE Revenue increases by 3.2% - EBIT down slightly on previous year at € 3.0 million/ Annual forecast confirmed/Growth primarily in Asia - measures taken in the USA/ Financial result improved further to € -0.5 million
Gelsenkirchen, 10th August 2015 - The first half of 2015 went reasonably well for Masterflex SE on the whole. Revenue of € 33.0 million, or 3.2% more than in the previous year, was generated with the design, production and consultancy-driven sale of high-tech hoses and connection systems. More was sold than ever before in a single half-year.
Operating income (EBIT) was down by € 0.5 million (13.9%) year on year at € 3.0 million. Nonetheless, the Executive Board is confirmed to the forecast for the whole year 2015: Revenue is expected to increase at a faster rate than economic growth while EBIT climbs slightly, resulting in a double-digit EBIT margin. Dr. Ing. Andreas Bastin, Chief Executive Officer of the Masterflex Group: "At the moment, we expect the restraint that we have seen in some projects in previous weeks to dissipate over the next few weeks."
In the first half of 2015, the importance of internationalisation as a part of the Masterflex Group's growth strategy was confirmed, because performance by region was considerably different. In Germany, it was probably discussions about Greece and resulting restraint in investment projects that resulted in lower growth. This is all the more remarkable because the majority of Group revenue is still generated in Germany. In contrast, performance in Asia was very satisfying. Dr Bastin: "Our activities in China and its neighbours are now developing increasingly dynamical. It took longer for this momentum to pick up than we originally expected, but our patience and the consistent support for our newly founded company now seem to be paying off." In the USA, a very attractive market for the Masterflex Group, business developed only stable year on year. In order to achieve the goal of greater market penetration faster, the regional management will be replaced as of 1 September 2015 in addition to further measures, in particular in sales and marketing.
Alongside the internationalisation strategy, the Masterflex Group is also pursuing the strategy of growing at an above-average rate with continual product innovation.
Mainly as a result of the declining volume of financing, the financial result fell by a further 22.9% to € -0.5 million. Overall, however, it could not compensate for the slightly weaker operating result. The Group result is consequently € 1.6 million, down 14.6% year on year in the first half of 2015.
Here, you can find the financial figures for Q2/2015.
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