Masterflex AG : Positive start to the 2012 financial year
04/24/2012| 04:55am US/Eastern
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Gelsenkirchen, 24 April 2012 - Masterflex
AG has had a successful start to the 2012 financial year.
According to the provisional figures, revenue rose to €14.5
million from January to March 2012. This represents a good 4%
increase on the same quarter of the previous year. The
revenue growth at the beginning of 2012 is even more
remarkable given that the comparable period of the previous
year - Q1 2011 - was characterised by non-recurring effects
due to the sharp economic upturn, which saw a 24% increase in
revenue.
"On the basis of the non-recurring effects in 2011,
such a noticeable increase in revenue did not figure in our
internal plans for the first quarter of 2012", says Dr
Andreas Bastin, CEO of Masterflex AG.
"Based on this promising start to the new
financial year, we are now reaffirming our ambitious organic
growth targets for 2012: Our revenue target is in the region
of €57 to €58 million with operating earnings (EBIT) of €8
million." EBIT for the first three months of the year came to
€2.1 million, resulting in an EBIT margin of 14.6%. As Bastin
comments, "We anticipate that the EBIT margin will remain
stable over the course of the year." The final figures will
be presented as planned on 7 May 2012.
As announced a few weeks ago, the Executive and
Supervisory Boards have decided to press ahead with the
conversion of Masterflex AG's legal form into that of an SE
(Societas Europaea) as well as with the reorganisation of
Masterflex AG into a pure management and financial holding
company. We are now in a position to finalise the time frame
with a view to making further preparations and in
anticipation of the forthcoming Annual General Meeting in
Gelsenkirchen:
1. The conversion process of
Masterflex AG to become an SE is ongoing; this will be
proposed for resolution by the forthcoming Annual General
Meeting on 19 June 2012. All formal examinations and
practical preparations have since been concluded
successfully. Details on this will be given along with the
invitation, which will be handed out at the beginning of
May.
2. The spin-off process of
Masterflex AG's operational business into a GmbH is still
underway. On the basis of current tax legislation (edict of
2011 regarding the changes of corporate forms
'Umwandlungssteuererlass'), the spin-off project is
still not free of risk. It will still take some time before
we are able to ensure the requisite legal security for the
shareholders. As a result, the spin-off of Masterflex AG's
operational business into a pure management and financial
holding company will be proposed for resolution at a later
Annual General Meeting.
Masterflex has also taken another important step
forward in the area of product innovation. With a brand new
generation of flame-resistant hose products - the XFlame®
series - Masterflex is taking into account the particularly
stringent requirements governing the use of hoses, for
example in welding equipment, welding robots, spot welding
guns and grinding machines. The XFlame® product series will
be unveiled to the general public at this year's industrial
trade fair in Hanover by Halberstadt-based company Novoplast
Schlauchtechnik GmbH - a wholly-owned subsidiary of
Masterflex AG.
This new generation of products not only demonstrates
impressive flammability resistance according to the
regulations UL 94-V2 to V0, but also boasts the all-important
characteristic of being halogen-free so that no corrosive
acids are released in the worst-case scenario. The
welding-spatter-resistant XFlame® hoses are even
self-extinguishing in the event of a fire: The development
engineers achieve this particular characteristic - which
extends far beyond flammability resistance - by introducing
specific additives that do not adversely affect the desired
hose properties. To meet the requirements of the automotive
industry, for example, all XFlame® hoses are also free from
substance-inhibiting materials that could prevent the
application of lacquer to metal surfaces. In addition, these
hoses are also distinguishable by their specific kink
resistance, high elasticity and spectacular abrasion
resistance.
"With the market launch of the XFlame® product series,
we are underpinning our claim to be a market leader in all of
the specialist markets we serve. Today, we already have
enormous potential to develop and bring to market new and
innovative connector solutions with great customer benefits.
And another array of undiscovered opportunities is just
waiting to be tapped here in the future", says the
CEO.
The Hanover industrial trade fair will take place from
23 to 27 April in Hanover. The Masterflex Group companies
will be located in Halls H5 / A32 and H 16/ D10.
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