MASTERFLEX SE Earnings Call Presentation
9M/2023
08 November 2023
AGENDA
01 _ Overview
02 _ Key Figures 9M/2023
03 _ Outlook 2023
04 _ Appendix
Page 02
01 Overview
Page 03
Highlights
9-month period 2023
01 | Significant progress in profitability in Q3 with an |
operating EBIT margin of 16.2% (previous year: | |
13.8%) |
02 | Positive development reflects successful turnaround |
of subsidiary APT, implemented price adjustments | |
and further cost optimisations | |
High demand momentum in the aviation business and | |
03 the life science and medical technology sectors | |
Broad diversification is reflected in stable revenue | |
04 development |
05
06
07
Double-digit earnings target sustainably achieved with EBIT margin of 14.0% (previous year: 13.7%)
Stable liquidity situation despite strategic working capital build-up- high cash position at EUR 9.6 million
Robust order situation - incoming orders remain at a satisfactory normal level
Page 04
02 Key Figures 9M/2023
Page 05
Key Figures (1) 9M/2023
In EUR million | 9M/2023 | 9M/2022 | Change |
Revenue | 79.0 | 76.0 | +3.8% |
EBITDA | 14.7 | 14.1 | +4.6% |
EBIT (operating) | 11.0 | 10.4 | +6.1% |
Group result | 7.2 | 7.3 | -1.3% |
EPS (in EUR) | 0.75 | 0.76 | -1.3% |
Significant progress in profitability
in Q3 and solid nine months of 2023
- Revenue increase of 3.8% in 9M/2023 compared to prior-year period
- Group operating EBIT up 6.1% than the prior-year period
- Operating EBIT margin rises to 14.0% after nine months (9M/2022: 13.7%)
- Significant margin increase in Q3 with 16.2% operating EBIT margin (previous year: 13.8%)
Page 06
Rising group equity in the 9-monthperiod
Group equity and equity ratio in EUR million
62,0 | 59.5% | |||||
56.7% | 57.6% | |||||
58,0 | ||||||
53.5% | 54.1% | 57.4 | ||||
54,0 | ||||||
51.5% | ||||||
50,0 | ||||||
52,0 | ||||||
46,0 | ||||||
45.0 | ||||||
42,0 | ||||||
42.0 | 41.3 | |||||
38,0 | 40.2 | |||||
34,0 | ||||||
30,0 | ||||||
2018 | 2019 | 2020 | 2021 | 2022 | 9M/2023 | |
Group Equity | Equity Ratio |
Dividend/EPS | |||||||
in EUR | 0.81 | ||||||
0.75 | |||||||
0.35 | 0.34 | ||||||
0.26 | 0.20 | ||||||
0.07 | 0.07 | 0.08 | 0.08 | 0.12 | |||
2018 | 2019 | 2020 | 2021 | 2022 | 9M/2023 | ||
Dividend | Earnings per share |
60
58
56
54
52
50
48
46
44
42
40
Equity increased further
- Consolidated equity increases to EUR 57.4 million as of 30 September 2023 (31 December 2022: EUR 52.0 million) due to positive earnings situation
- Cash and cash equivalents almost unchanged at EUR 9.6 million as of 30 September 2023 (31 December 2022: EUR 9.7 million) reflects working capital build-up and dividend increase
- Operating cashflow in 9M/2023 at EUR 7.6 million (9M/2022: EUR 5.7 million) - despite growth-related increase in working capital
Page 07
03 Outlook
Page 8
Outlook 2023
Stable growth in business thanks to broad industry expertise
Recessionary trends in traditional customer industries are (over)compensated by medical technology, life-science, semiconductor technology and aviation
Positive price effects due to subsequent price adjustments with a corresponding effect on revenue and results
Solid order backlog and robust order intake
Continuous and sustainable implementation of further measures to increase efficiency
Forecast for 2023 confirmed despite economic, interest rate and geopolitical uncertainties confirmed
For 2023: continued growth in revenue to EUR 103 million to EUR 110 million expected (2022: EUR 100.3 million)
Operating EBIT to increase to between EUR 11 million and EUR 14 million in 2023 (2022: EUR 11.4 million) - Stabilisation and further expansion of the yield level achieved
Page 10
04 Appendix
Page 10
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Masterflex SE published this content on 08 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 November 2023 13:33:58 UTC.
