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08.05.2024 07:31:34 - dpa-AFX: EQS-News: Masterflex mit Profitabilitätssteigerung im ersten Quartal 2024 - Operative EBIT-Marge steigt auf 16,3 % (english)
Masterflex mit Profitabilitätssteigerung im ersten Quartal 2024 - Operative
EBIT-Marge steigt auf 16,3 %
EQS-News: Masterflex SE / Key word(s): Quarterly / Interim Statement
Masterflex mit Profitabilitätssteigerung im ersten Quartal 2024 - Operative
EBIT-Marge steigt auf 16,3 %
08.05.2024 / 07:31 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Masterflex increases profitability in the first quarter of 2024 - Operating
EBIT margin rises to 16.3%
* Group revenue at EUR 26.2 million (3M/2023: EUR 27.6 million)
* Group operating EBIT grows to EUR 4.3 million (3M/2023: EUR 4.1 million)
* Further improvement in operating EBIT margin to 16.3% (3M/2023: 15.0%)
* Solid order backlog of EUR 20.8 million as of March 31, 2024
* Forecast for the financial year 2024 confirmed
Gelsenkirchen, 08. May 2024 - Masterflex SE (ISIN: DE0005492938) is starting
the financial year 2024 with a boost in profitability in the first quarter.
Although the challenging economic environment is having an impact on the
revenue side, Masterflex nevertheless recorded the best operating EBIT ever
in a first quarter.
The Masterflex Group generated revenue of EUR 26.2 million in the first
three months of 2024. This corresponds to a year-on-year decline in revenue
of 5.2% compared to a strong prior-year figure of EUR 27.6 million. The
slight decline in revenue primarily reflects the economic headwind in
cyclical customer sectors such as mechanical and plant engineering.
Activities in Asia were also slightly down on the previous year due to the
economic situation and the uncertain geopolitical situation. The medical
technology sector remained at a high level with a 17% share of sales,
although it stagnated in the first quarter. This was partly due to the
effects of the Easter holidays and partly to inventory corrections on the
customer side. In contrast, the aerospace, food and semiconductor sectors
recorded growth as in previous quarters. At regional level, the robust US
economy in particular is reflected in the growth of activities in the USA.
EBITDA increased by 1.8% to EUR 5.5 million (3M/2023: EUR 5.4 million)
despite the decline in revenue. Group operating EBIT for the first quarter
of 2024 improved to EUR 4.3 million and set a new record for a first quarter
with an increase of 3.1% compared to the same period of the previous year
(3M/2023: EUR 4.1 million). The Group's operating EBIT margin thus increased
to 16.3% after 15.0% in the same period of the previous year. The very
pleasing earnings performance given the decline in sales is mainly due to a
strong increase in earnings in the aviation business at Matzen & Timm, which
was achieved through volume effects and improved efficiency. The positive
business development of the US activities and the continued high earnings
level of the other subsidiaries also contributed significantly to the strong
EBIT. The increase in earnings is based, among other things, on efficiency
gains in production and optimizations in purchasing, which are reflected in
an improved materials usage ratio. In addition, despite a higher wage and
salary level due to inflation, personnel costs were successfully controlled
through capacity optimization, which is reflected in an only moderately
increasing personnel cost ratio of 34.2% in the reporting period compared to
33.1% in the previous year.
At net level, consolidated net income totaled EUR 2.8 million (3M/2023: EUR
3.4 million. Accordingly, consolidated earnings per share totaled EUR 0.30
(3M/2023: EUR 0.36). The decline in earnings at net level is due to higher
financing costs as a result of the rise in interest rates and, in
particular, a positive tax effect in the same period of the previous year.
'In terms of earnings, we had a strong start to the financial year. In the
first quarter, we once again topped the high benchmark from the previous
year and are of course working on increasing our profitability,' comments
CFO Mark Becks.
The Masterflex Group's balance sheet position improved again as of March 31,
2024. Group equity amounted to EUR 60.6 million as at the end of March 2024,
compared with EUR 57.6 million as of December 31, 2023. The Group's equity
ratio consequently increased to 63.4% as of March 31, 2024 (December 31,
2023: 61.5%) despite the EUR 1.9 million increase in total assets to EUR
95.6 million (December 31, 2023: EUR 93.7 million).
Dr Andreas Bastin, CEO of the Masterflex Group: 'We are satisfied with the
development of the first quarter of 2024, especially concerning our further
increase in profitability. The increase in our operating EBIT margin to
16.3% shows that we are delivering what we promise. Our leading position in
the market for hose and connection solutions is helping us, especially in
the current challenging economic environment. We are now building on this as
part of our HERO@ZERO strategy expansion. The transition to the circular
economy, the focus on growth areas such as life science, mobility,
technology and infrastructure and the addition of new, data- and
service-based business offer us the opportunity to further drive growth and
profitability. We are facing perhaps the most exciting growth phase in the
history of Masterflex.'
Order situation allows optimistic outlook - 2024 forecast confirmed
The order situation remains robust despite economic uncertainties, with the
order backlog at the end of the first quarter standing at EUR 20.8 million
and remaining stable compared to the year-end figure of EUR 20.5 million as
of December 31, 2023. Looking ahead, there are signs of an upturn in the
medical technology sector following the inventory corrections, business in
the Aerospace sector continues to develop positively, while US activities
are benefiting from the robust US economy. In addition, catch-up effects are
expected from projects in the industrial hose business that were postponed
due to the reporting date, meaning that the order situation allows an
optimistic outlook for the rest of the year.
Against this background, the Management Board confirms the previous forecast
for the 2024 financial year. Based on the assumption that there will be no
substantial deterioration in either the economic situation or geopolitical
uncertainties, the Management of the Masterflex Group continues to expect
revenue in the range of EUR 100 million to EUR 107 million and EBIT in the
range of EUR 12 million to EUR 15 million for 2024 as a whole.
Key figures
*) unaudited
The quarterly report as of March 31, 2024 is available online at
https://www.masterflexgroup.com/investor-relations/financial-reports-of-masterflex-se/
Conference Call/Webcast
A conference call/webcast will be held for press representatives, analysts
and institutional investors on May 8, 2024, 10:00 am. The investor
presentation on the first quarter 2024 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, ISIN:
DE0005492938) have been listed in the Prime Standard of the German Stock
Exchange since 2000.
IR Contact
Susan Hoffmeister
Investor Relations
Tel.: +49 89 125 09 03-33
sh@crossalliance.de
www.crossalliance.de
---------------------------------------------------------------------------
08.05.2024 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
---------------------------------------------------------------------------
1896657 08.05.2024 CET/CEST
EBIT-Marge steigt auf 16,3 %
EQS-News: Masterflex SE / Key word(s): Quarterly / Interim Statement
Masterflex mit Profitabilitätssteigerung im ersten Quartal 2024 - Operative
EBIT-Marge steigt auf 16,3 %
08.05.2024 / 07:31 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Masterflex increases profitability in the first quarter of 2024 - Operating
EBIT margin rises to 16.3%
* Group revenue at EUR 26.2 million (3M/2023: EUR 27.6 million)
* Group operating EBIT grows to EUR 4.3 million (3M/2023: EUR 4.1 million)
* Further improvement in operating EBIT margin to 16.3% (3M/2023: 15.0%)
* Solid order backlog of EUR 20.8 million as of March 31, 2024
* Forecast for the financial year 2024 confirmed
Gelsenkirchen, 08. May 2024 - Masterflex SE (ISIN: DE0005492938) is starting
the financial year 2024 with a boost in profitability in the first quarter.
Although the challenging economic environment is having an impact on the
revenue side, Masterflex nevertheless recorded the best operating EBIT ever
in a first quarter.
The Masterflex Group generated revenue of EUR 26.2 million in the first
three months of 2024. This corresponds to a year-on-year decline in revenue
of 5.2% compared to a strong prior-year figure of EUR 27.6 million. The
slight decline in revenue primarily reflects the economic headwind in
cyclical customer sectors such as mechanical and plant engineering.
Activities in Asia were also slightly down on the previous year due to the
economic situation and the uncertain geopolitical situation. The medical
technology sector remained at a high level with a 17% share of sales,
although it stagnated in the first quarter. This was partly due to the
effects of the Easter holidays and partly to inventory corrections on the
customer side. In contrast, the aerospace, food and semiconductor sectors
recorded growth as in previous quarters. At regional level, the robust US
economy in particular is reflected in the growth of activities in the USA.
EBITDA increased by 1.8% to EUR 5.5 million (3M/2023: EUR 5.4 million)
despite the decline in revenue. Group operating EBIT for the first quarter
of 2024 improved to EUR 4.3 million and set a new record for a first quarter
with an increase of 3.1% compared to the same period of the previous year
(3M/2023: EUR 4.1 million). The Group's operating EBIT margin thus increased
to 16.3% after 15.0% in the same period of the previous year. The very
pleasing earnings performance given the decline in sales is mainly due to a
strong increase in earnings in the aviation business at Matzen & Timm, which
was achieved through volume effects and improved efficiency. The positive
business development of the US activities and the continued high earnings
level of the other subsidiaries also contributed significantly to the strong
EBIT. The increase in earnings is based, among other things, on efficiency
gains in production and optimizations in purchasing, which are reflected in
an improved materials usage ratio. In addition, despite a higher wage and
salary level due to inflation, personnel costs were successfully controlled
through capacity optimization, which is reflected in an only moderately
increasing personnel cost ratio of 34.2% in the reporting period compared to
33.1% in the previous year.
At net level, consolidated net income totaled EUR 2.8 million (3M/2023: EUR
3.4 million. Accordingly, consolidated earnings per share totaled EUR 0.30
(3M/2023: EUR 0.36). The decline in earnings at net level is due to higher
financing costs as a result of the rise in interest rates and, in
particular, a positive tax effect in the same period of the previous year.
'In terms of earnings, we had a strong start to the financial year. In the
first quarter, we once again topped the high benchmark from the previous
year and are of course working on increasing our profitability,' comments
CFO Mark Becks.
The Masterflex Group's balance sheet position improved again as of March 31,
2024. Group equity amounted to EUR 60.6 million as at the end of March 2024,
compared with EUR 57.6 million as of December 31, 2023. The Group's equity
ratio consequently increased to 63.4% as of March 31, 2024 (December 31,
2023: 61.5%) despite the EUR 1.9 million increase in total assets to EUR
95.6 million (December 31, 2023: EUR 93.7 million).
Dr Andreas Bastin, CEO of the Masterflex Group: 'We are satisfied with the
development of the first quarter of 2024, especially concerning our further
increase in profitability. The increase in our operating EBIT margin to
16.3% shows that we are delivering what we promise. Our leading position in
the market for hose and connection solutions is helping us, especially in
the current challenging economic environment. We are now building on this as
part of our HERO@ZERO strategy expansion. The transition to the circular
economy, the focus on growth areas such as life science, mobility,
technology and infrastructure and the addition of new, data- and
service-based business offer us the opportunity to further drive growth and
profitability. We are facing perhaps the most exciting growth phase in the
history of Masterflex.'
Order situation allows optimistic outlook - 2024 forecast confirmed
The order situation remains robust despite economic uncertainties, with the
order backlog at the end of the first quarter standing at EUR 20.8 million
and remaining stable compared to the year-end figure of EUR 20.5 million as
of December 31, 2023. Looking ahead, there are signs of an upturn in the
medical technology sector following the inventory corrections, business in
the Aerospace sector continues to develop positively, while US activities
are benefiting from the robust US economy. In addition, catch-up effects are
expected from projects in the industrial hose business that were postponed
due to the reporting date, meaning that the order situation allows an
optimistic outlook for the rest of the year.
Against this background, the Management Board confirms the previous forecast
for the 2024 financial year. Based on the assumption that there will be no
substantial deterioration in either the economic situation or geopolitical
uncertainties, the Management of the Masterflex Group continues to expect
revenue in the range of EUR 100 million to EUR 107 million and EBIT in the
range of EUR 12 million to EUR 15 million for 2024 as a whole.
Key figures
in EUR thousand 3M/2024* 3M/2023* Change
Consolidated revenue 26,207 27,633 -5.2%
EBITDA 5,514 5,419 1.8%
EBIT (operating) 4,263 4,134 3.1%
EBIT 4,238 4,134 2.5%
EBT (operating) 3,917 3,878 1.0%
Financial result -321 -256 25.4%
Consolidated net income 2,839 3,423 -17.1%
Consolidated earnings per share (EUR) 0.30 0.36 -16.7%
EBIT-Marge (operating) 16.3% 15.0%
Net return on revenue 10.8% 12.4%
Employees (number) 604 619 -2.4%
in TEUR 31.03.2024* 31.12.2023 Change
Consolidated equity 60,587 57,602 5.2%
Consolidated balance sheet 95,565 93,691 2.0%
Consolidated equity ratio 63.4% 61.5%
*) unaudited
The quarterly report as of March 31, 2024 is available online at
https://www.masterflexgroup.com/investor-relations/financial-reports-of-masterflex-se/
Conference Call/Webcast
A conference call/webcast will be held for press representatives, analysts
and institutional investors on May 8, 2024, 10:00 am. The investor
presentation on the first quarter 2024 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, ISIN:
DE0005492938) have been listed in the Prime Standard of the German Stock
Exchange since 2000.
IR Contact
Susan Hoffmeister
Investor Relations
Tel.: +49 89 125 09 03-33
sh@crossalliance.de
www.crossalliance.de
---------------------------------------------------------------------------
08.05.2024 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: 1896657
End of News EQS News Service
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1896657 08.05.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
MASTERFLEX O.N. | 549293 | Xetra | 10,550 | 29.05.24 09:23:58 | -0,150 | -1,40% | 10,550 | 10,700 | 10,550 | 10,700 |
