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28.03.2024 07:30:53 - dpa-AFX: EQS-News: Masterflex SE presents Annual Report 2023 - Record earnings achieved (english)
Masterflex SE presents Annual Report 2023 - Record earnings achieved
EQS-News: Masterflex SE / Key word(s): Annual Results/Forecast
Masterflex SE presents Annual Report 2023 - Record earnings achieved
28.03.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Masterflex SE presents Annual Report 2023 - Record earnings achieved
* Group revenue at EUR 101.1 million (previous year: EUR 100.3 million)
Gelsenkirchen, March 28, 2024 - Masterflex SE (ISIN: DE0005492938) today
presented its audited consolidated financial statements for the 2023
financial year and confirms the preliminary figures published on March 11,
2024. Despite an overall challenging economic environment and the associated
recessionary trends in some customer industries, Masterflex succeeded in
achieving new record levels in earnings.
In the 2023 financial year, Masterflex SE generated revenue of EUR 101.1
million (previous year: EUR 100.3 million) and can look back on a successful
and robust business development despite a noticeable economic headwind in
some of its customer industries. Although revenue was slightly below the
forecast range of EUR 103 million to EUR 110 million, primarily due to the
increasing slowdown in demand in the traditional cyclically sensitive
customer industries, EBITDA increased to a new record level of EUR 17.9
million (previous year: EUR 16.4 million). Operating EBIT also reached a new
record level in the 2023 financial year, growing by 10.5% to EUR 12.6
million (previous year: EUR 11.4 million). The Masterflex Group succeeded in
consolidating the operating EBIT margin in the double-digit range and
increasing it from 11.4% in the previous year to 12.4% in the 2023 financial
year, enabling the Group to achieve the middle of the forecast range of EUR
11.0 million to EUR 14.0 million in operating EBIT. Consolidated net income
amounted to EUR 8.0 million in the reporting year (previous year: EUR 7.8
million). Basic and diluted earnings per share in accordance with IFRS
improved to EUR 0.83 (previous year: EUR 0.81).
Despite the economic headwind, most of Masterflex SE's subsidiaries were on
course for growth in the 2023 financial year, with the good demand dynamics
in the aviation business, life science and medical technology sectors being
particularly noteworthy. In the classic cyclical sectors such as automotive
and mechanical engineering, on the other hand, there was increasing
restraint on the part of customers. Nevertheless, Masterflex succeeded in
increasing its EBIT margin and EBIT. This was achieved by shifting the sales
mix towards higher-margin customer sectors, such as medical technology,
whose share of revenue rose from around 17% to 19%. Productivity increases
and further efficiency measures also contributed to this success.
The Group's financial position has improved further compared to the previous
year. The Masterflex Group's cash and cash equivalents increased to EUR 11.1
million as at December 31, 2023 (previous year: EUR 9.8 million) thanks to
the increase in operating result. Consequently, net debt at the end of 2023
amounted to EUR 13.1 million, an improvement on the previous year's figure
of EUR 16.9 million. The consolidated equity of the Masterflex Group
increased by EUR 5.6 million to EUR 57.6 million as at the balance sheet
date of December 31, 2023 (previous year: EUR 52.0 million), in particular
due to the strong increase in profits. The equity ratio (equity in relation
to total assets) improved by 3.9 percentage points from 57.6% to 61.5% at
the end of the 2023 financial year.
Order backlog as at December 31, 2023 remained at a high level of EUR 20.5
million (previous year: EUR 22.8 million). At the same time, the outlook for
economic development is cautiously positive. A limiting factor for the
accuracy of the forecast for economic development and the further
development of the Masterflex Group are the uncertainties resulting
primarily from the geopolitical upheavals in connection with the war in
Ukraine, the tensions between the USA and China and the conflict in the
Middle East. Assuming that there is no deterioration in the aforementioned
uncertainty factors in the 2024 financial year, the Management of Masterflex
Group expects to generate revenue in the range of EUR 100 to EUR 107
million. In terms of EBIT, the Management Board anticipates a range of
between EUR 12 and EUR 15 million.
Dr Andreas Bastin, CEO of Masterflex Group, comments: "Masterflex Group
benefits from its market-leading position in the global market for
innovative and highly sophisticated hose and connection solutions, enabling
us to achieve a new record in earnings despite the challenging economic
environment. Our goal for 2024 is to continue to grow and, in particular, to
further expand our high profitability and thus our earnings."
Dividend
Due to the positive results development, the Management Board and
Supervisory Board of Masterflex SE will propose an increased dividend of EUR
0.25 per share for the 2023 financial year (previous year: EUR 0.20 per
share) at the Annual General Meeting on June 12, 2024.
Annual Report
The Annual Report 2023 was published on www.masterflexgroup.com.
Conference Call
A conference call will be held for representatives of the press, analysts
and institutional investors on March 28, 2024, 10:00 am. The current
investor presentation on the 2023 business figures will be published on
www.masterflexgroup.com.
To register, please send an e-mail to sh@crossalliance.de.
About Masterflex SE
The Masterflex Group is an expert on the development and manufacture of
sophisticated connection and hose systems. With 14 operating units in
Europe, America and Asia, the Group is represented nearly worldwide. Current
drivers of its growth include internationalization, innovation, operational
excellence and digitalization. Masterflex shares (GSIN 549293) have been
listed in the Prime Standard of the German Stock Exchange since 2000.
IR Contact
Susan Hoffmeister
Investor Relations
Tel.: +49 (0) 89 125 09 03-33
sh@crossalliance.de
www.crossalliance.de
---------------------------------------------------------------------------
28.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
End of News EQS News Service
---------------------------------------------------------------------------
1866533 28.03.2024 CET/CEST
EQS-News: Masterflex SE / Key word(s): Annual Results/Forecast
Masterflex SE presents Annual Report 2023 - Record earnings achieved
28.03.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Masterflex SE presents Annual Report 2023 - Record earnings achieved
* Group revenue at EUR 101.1 million (previous year: EUR 100.3 million)
* Record EBITDA of EUR 17.9 million (previous year: EUR 16.4 million) and
operating EBIT of EUR 12.6 million (previous year: EUR 11.4 million)
* Operating EBIT margin significantly improved to 12.4% (previous year:
11.4%)
* Further improvement in balance sheet quality with 61.5% equity ratio
(previous year: 57.6%)
* Dividend increase planned for 2023 to EUR 0.25 (previous year: EUR 0.20)
per share
* Forecast for 2024: Group revenue of EUR 100 to EUR 107 million and EBIT
of between EUR 12 and EUR 15 million expected
Gelsenkirchen, March 28, 2024 - Masterflex SE (ISIN: DE0005492938) today
presented its audited consolidated financial statements for the 2023
financial year and confirms the preliminary figures published on March 11,
2024. Despite an overall challenging economic environment and the associated
recessionary trends in some customer industries, Masterflex succeeded in
achieving new record levels in earnings.
In the 2023 financial year, Masterflex SE generated revenue of EUR 101.1
million (previous year: EUR 100.3 million) and can look back on a successful
and robust business development despite a noticeable economic headwind in
some of its customer industries. Although revenue was slightly below the
forecast range of EUR 103 million to EUR 110 million, primarily due to the
increasing slowdown in demand in the traditional cyclically sensitive
customer industries, EBITDA increased to a new record level of EUR 17.9
million (previous year: EUR 16.4 million). Operating EBIT also reached a new
record level in the 2023 financial year, growing by 10.5% to EUR 12.6
million (previous year: EUR 11.4 million). The Masterflex Group succeeded in
consolidating the operating EBIT margin in the double-digit range and
increasing it from 11.4% in the previous year to 12.4% in the 2023 financial
year, enabling the Group to achieve the middle of the forecast range of EUR
11.0 million to EUR 14.0 million in operating EBIT. Consolidated net income
amounted to EUR 8.0 million in the reporting year (previous year: EUR 7.8
million). Basic and diluted earnings per share in accordance with IFRS
improved to EUR 0.83 (previous year: EUR 0.81).
Despite the economic headwind, most of Masterflex SE's subsidiaries were on
course for growth in the 2023 financial year, with the good demand dynamics
in the aviation business, life science and medical technology sectors being
particularly noteworthy. In the classic cyclical sectors such as automotive
and mechanical engineering, on the other hand, there was increasing
restraint on the part of customers. Nevertheless, Masterflex succeeded in
increasing its EBIT margin and EBIT. This was achieved by shifting the sales
mix towards higher-margin customer sectors, such as medical technology,
whose share of revenue rose from around 17% to 19%. Productivity increases
and further efficiency measures also contributed to this success.
The Group's financial position has improved further compared to the previous
year. The Masterflex Group's cash and cash equivalents increased to EUR 11.1
million as at December 31, 2023 (previous year: EUR 9.8 million) thanks to
the increase in operating result. Consequently, net debt at the end of 2023
amounted to EUR 13.1 million, an improvement on the previous year's figure
of EUR 16.9 million. The consolidated equity of the Masterflex Group
increased by EUR 5.6 million to EUR 57.6 million as at the balance sheet
date of December 31, 2023 (previous year: EUR 52.0 million), in particular
due to the strong increase in profits. The equity ratio (equity in relation
to total assets) improved by 3.9 percentage points from 57.6% to 61.5% at
the end of the 2023 financial year.
Order backlog as at December 31, 2023 remained at a high level of EUR 20.5
million (previous year: EUR 22.8 million). At the same time, the outlook for
economic development is cautiously positive. A limiting factor for the
accuracy of the forecast for economic development and the further
development of the Masterflex Group are the uncertainties resulting
primarily from the geopolitical upheavals in connection with the war in
Ukraine, the tensions between the USA and China and the conflict in the
Middle East. Assuming that there is no deterioration in the aforementioned
uncertainty factors in the 2024 financial year, the Management of Masterflex
Group expects to generate revenue in the range of EUR 100 to EUR 107
million. In terms of EBIT, the Management Board anticipates a range of
between EUR 12 and EUR 15 million.
Dr Andreas Bastin, CEO of Masterflex Group, comments: "Masterflex Group
benefits from its market-leading position in the global market for
innovative and highly sophisticated hose and connection solutions, enabling
us to achieve a new record in earnings despite the challenging economic
environment. Our goal for 2024 is to continue to grow and, in particular, to
further expand our high profitability and thus our earnings."
Key figures for the Masterflex Group 2023 2022 Change
(in EUR thousand)
Consolidated revenue 101,115 100,274 +0.8%
EBITDA 17,871 16,436 +8.7%
EBIT (operating) 12,580 11,395 +10.4%
EBIT 12,356 11,385 +8.5%
EBIT margin (operating) 12.4% 11.4%
Consolidated net income 7,993 7,777 +2.8%
Consolidated earnings per share (EUR) 0.83 0.81 +2.5%
2023 2022 Change
Consolidated equity 57,602 51,985 +10.86%
Consolidated equity ratio 61.5% 57.6%
Consolidated balance sheet 93,691 90,218 +3.8%
Dividend
Due to the positive results development, the Management Board and
Supervisory Board of Masterflex SE will propose an increased dividend of EUR
0.25 per share for the 2023 financial year (previous year: EUR 0.20 per
share) at the Annual General Meeting on June 12, 2024.
Annual Report
The Annual Report 2023 was published on www.masterflexgroup.com.
Conference Call
A conference call will be held for representatives of the press, analysts
and institutional investors on March 28, 2024, 10:00 am. The current
investor presentation on the 2023 business figures will be published on
www.masterflexgroup.com.
To register, please send an e-mail to sh@crossalliance.de.
About Masterflex SE
The Masterflex Group is an expert on the development and manufacture of
sophisticated connection and hose systems. With 14 operating units in
Europe, America and Asia, the Group is represented nearly worldwide. Current
drivers of its growth include internationalization, innovation, operational
excellence and digitalization. Masterflex shares (GSIN 549293) have been
listed in the Prime Standard of the German Stock Exchange since 2000.
IR Contact
Susan Hoffmeister
Investor Relations
Tel.: +49 (0) 89 125 09 03-33
sh@crossalliance.de
www.crossalliance.de
---------------------------------------------------------------------------
28.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
Language: English
Company: Masterflex SE
Willy-Brandt-Allee 300
45891 Gelsenkirchen
Germany
Phone: +49 (0)209 970770
Fax: +49 (0)209 9707733
E-mail: info@masterflexgroup.com
Internet: www.MasterflexGroup.com
ISIN: DE0005492938
WKN: 549 293
Indices: Prime all share
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1866533
End of News EQS News Service
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1866533 28.03.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
MASTERFLEX O.N. | 549293 | Xetra | 10,250 | 08.05.24 11:49:02 | +0,100 | +0,99% | 10,050 | 10,250 | 10,200 | 10,150 |
