DGAP-News: Masterflex SE: Masterflex Group posts strong growth in 2017 in both revenues and earnings, according to preliminary results
08.03.2018 (www.4investors.de) -
DGAP-News: Masterflex SE / Key word(s): Preliminary Results
Masterflex SE: Masterflex Group posts strong growth in 2017 in both revenues and earnings, according to preliminary results
08.03.2018 / 10:00
The issuer is solely responsible for the content of this announcement.
Masterflex Group posts strong growth in 2017 in both revenues and earnings, according to preliminary results
- Revenues up 12.3% to EUR 74.7 million
- Operating Ebit up 16.1%, to EUR 7.1 million
Gelsenkirchen, 8 March 2018 - 2017 was a highly successful year for Masterflex Group, in terms of both revenues and earnings. According to preliminary results, revenues from high-tech hoses and connection systems were up 12.3%, from EUR 66.5 million to EUR 74.7 million. Masterflex Group's earnings grew at a slightly faster pace, as Ebitda climbed from EUR 8.8 million to EUR 10.3 million. This represents a gain of 16.5%. Masterflex Group's adjusted operating profit (Ebit) improved by 16.1%, from EUR 6.1 million to EUR 7.1 million, resulting in an Ebit margin of 9.5% (previous year: 9.2%). With these figures, Masterflex has exceeded its own targets, aiming for revenue growth of 6-10%, as well as realizing the expected improvements in earnings. However, its Ebit margin of 9.5% was slightly below the target value of 10%. The reasons are unexpected one-off effects such as inventory differences and a year-end revenue shift in the US, which were only worked out during the finalization of the financial statements.
Dr. Andreas Bastin, the CEO of Masterflex Group, stated as follows: "We were able to meet many of our goals in 2017 and, measured in terms of financial ratios, we have had a very successful year. In particular, we have already received significant revenue and earnings contributions from our new subsidiary, APT Advanced Polymer Tubing GmbH, based in Neuss, which has allowed us to extend our service portfolio in a highly effective manner. However, we are also taking the strength and power we have regained in recent years as an opportunity to better position our company for challenges like digital transformation by means of our 2017 strategy expansion. 2017 was a record year and was also a year of transition. The future is digital, also for high-tech hoses and connections systems: for example, we are proceeding with the development of our smart and intelligent hoses and are planning to create new digitally based value-added services for these products."
These figures are still subject to confirmation by the auditors and subject to approval by the Supervisory Board. The 2017 consolidated financial statements will be presented by the Management Board at the annual press conference on 29 March 2018 in Dusseldorf.
The Masterflex Group is the listed specialist in the development and manufacture of sophisticated hose and connection systems. With 14 operational units in Europe, America and Asia, the Group is represented almost everywhere in the world. Internationalisation, innovation, operational excellence and digitization are the drivers for growth. Since 2000, the Masterflex share is listed in the top segment of the German Exchange ('Primary Standard').
Contact: Frank Ostermair / Linh Chung, Better Orange IR & HV AG, Phone: 49 89 88 96 906 14, email: email@example.com
08.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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