29.03.2018 Masterflex SE  DE0005492938

DGAP-News: Masterflex Group with clear growth in revenues and earnings in 2017

DGAP-News: Masterflex SE / Key word(s): Final Results Masterflex Group with clear growth in revenues and earnings in 2017 29.03.2018 / 10:00 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Masterflex Group with clear growth in revenues and earnings in 2017 * Revenues up 12.3% to EUR 74.7 million; operating Ebit up 16.1% to EUR 7.1 million * Earnings per share up from EUR 0.34 to EUR 0.45 * Dividend to be raised to 7 cents per share * Further growth targets for 2018 Gelsenkirchen/Düsseldorf, 29 March 2018 - Masterflex Group was able to largely meet its targets in 2017 and actually exceeded them in some cases. Consolidated revenues were up 12.3% in 2017, from EUR 66.5 million to EUR 74.7 million, exceeding the target of 6-10% growth. Masterflex Group expects continued growth in 2018, with revenue growth in the 4-8% range. The company's strong performance is reflected in earnings growth as well, as adjusted operating Ebit climbed from EUR 6.1 million to EUR 7.1 million, for a gain of 16.1%. While this growth conformed to the company's forecast, the Ebit margin of 9.5% fell somewhat short of the 10% target (year before: 9.2%). This shortfall was due to unexpected one-off effects such as inventory differences and an end-of-year revenue shift in the US which was worked out only during the finalization of the financial statements. Masterflex Group expects further earnings growth in 2018, in line with revenue growth, as well as confirmation of the margin. Masterflex Group expects to once again post strong double-digit Ebit margins in the medium term. Driven by the strong improvement in operating results, as well as one-off factors in net financial income and tax effects, net income after taxes increased at a significantly faster pace in 2017, from EUR 2.9 million to EUR 4.3 million, for a gain of 50.3%. Earnings per share improved from EUR 0.34 to EUR 0.45. The Management Board and Supervisory Board plan to propose to shareholders at the Annual General Meeting on 26 June 2018 to raise the dividend from 5 to 7 cents per share. In doing so, Masterflex Group will be continuing its active dividend payout policy, proposing a dividend each year which is at least as high as the year before. From a strategic viewpoint as well, the Group's performance in 2017 was highly satisfactory. With the acquisition of all shares in APT, the Group was able to acquire a company which strategically complements its existing product portfolio, which contributes high technological expertise of its own and which was rapidly integrated into the Group's structures. In terms of financial strategy, the framework for this acquisition and for potential future M&A transactions was provided by the syndicated loan agreement, newly concluded in 2016, which makes available funds for inorganic growth in targeted fashion through an M&A tranche. The Group was also able to further strengthen its equity capital base in 2017 by executing a successful 10% cash capital increase. Thanks to this capital increase and to the growth in earnings, the equity ratio climbed to 51.2% as of 31 December 2017 (year before: 47.5%). By adding APT's unique expertise in the processing of fluoropolymers, the Group was able to extend its product portfolio with no overlaps. Masterflex Group expects strong potential particularly in the medical technology segment, a strategic target market which has been a focus of sales activities for some years and which can now be addressed even more intensively, with additional products which are virtually predestined for the market because of their technical specifications. Another strategic extension to the product portfolio will come through newly developed smart hoses and connection systems. In the words of Dr. Andreas Bastin, CEO of Masterflex Group: "In the past 24 months, there have been a number of points which have suggested the advantages of upgrading our hose systems digitally in the future so that they can be integrated into customers' systems and therefore provide more information about the condition of materials and the transported media. Our development activities in this regard are based on specific customer requirements. Thanks to our position as a technology leader, I see us as a preferred development partner. We expect great potential from digitization, both in terms of the technological features of our hoses and from the emergence of entirely new fields for smart services, which may develop into additional sources of revenue in the mid- and long-term alongside the production and service-focused distribution of specialty hoses and connection systems." In order to effectively take advantage of the additional opportunities while at the same time meeting the growing challenges of digitization, especially for mid-sized companies, Masterflex Group expanded its growth strategy in 2017 and is already in the process of implementing it. After successfully completing its two-year reorganization phase, a process which has generated results, Masterflex is transitioning seamlessly into the next future project. To the existing strategic initiatives, "Innovation" and "Internationalization", whose implementation has allowed the company to post stable growth in recent years, it will now be adding two more strategic pillars: "Operational Excellence" and "Digital Transformation." Dr. Bastin stated that "with this expanded strategy, we are seeking to anticipate external factors which are expected to affect our environment in the coming years. At the same time, we will be adapting our strategy to our growing size and internal needs. As our revenues cross the EUR 75 million mark and as we approach our next revenue target, EUR 100 million, we believe that we have reached a decisive milestone. We must and will dedicate more thought to the question of how we intend to leverage our new size to generate advantages in terms of efficiency and profitability. This will be a highly important challenge if we are to continue to grow while at the same time posting satisfactory earnings." Selected figures 31 Dec. 2017 31 Dec. 2016 Change in TEUR Consolidated revenues 74,675 66,486 12.3 % Ebitda 10,263 8,811 16.5 % Ebit (operative) 7,081 6,097 16.1 % Ebit (adjusted) 6,601 5,897 11.9 % Net financial income -1,181 -1,323 10.7 % Ebt 5,420 4,574 18.5 % Consolidated net income 4,303 2,863 50.3 % Consolidated equity 37,396 28,701 30.3 % Consolidated equity ratio 51.2 % 47.5 % 3.7 % Consolidated total assets 72,967 60,412 20.8 % Employees 621 601 3.3 % Ebit margin (operative) 9.5 % 9.2 % 0.3 % Consolidated earnings per share (EUR) 0.45 0.34 32.4 % Masterflex Group specializes in the development and production of high-quality hose and connection systems. With 14 operating units in Europe, America and Asia, the Group maintains a nearly global presence. Its growth drivers are internationalization, innovation, operational excellence and digitization. Masterflex shares (German Securities ID: 549293) have been admitted for trading in Deutsche Börse's Prime Standard segment since 2000. Contact: Frank Ostermair/Linh Chung, Better Orange IR & HV AG, Phone: 49 89 8896 90614, E-mail: frank.ostermair@better-orange.de --------------------------------------------------------------------------- 29.03.2018 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 --------------------------------------------------------------------------- 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 End of News DGAP News Service --------------------------------------------------------------------------- 669995 29.03.2018

Die wichtigsten Finanzdaten auf einen Blick
  2013 2014 2015 2016 2017 2018 2019e 2020e
Umsatzerlöse1 57,90 62,47 64,11 66,49 74,68 77,24 79,40 0,00
EBITDA1,2 8,77 9,17 7,67 8,81 10,26 9,59 7,85 0,00
EBITDA-Marge3 15,15 14,68 11,96 13,25 13,74 12,42 9,89 0,00
EBIT1,4 6,11 6,32 4,87 5,90 6,60 6,10 4,40 0,00
EBIT-Marge5 10,55 10,12 7,60 8,87 8,84 7,90 5,54 0,00
Jahresüberschuss1 2,60 3,23 2,25 3,42 4,30 3,22 2,10 0,00
Netto-Marge6 4,49 5,17 3,51 5,14 5,76 4,17 2,64 0,00
Cashflow1,7 7,95 6,80 2,80 6,22 8,34 4,68 6,00 0,00
Ergebnis je Aktie8 0,29 0,34 0.22 0,34 0,45 0,35 0,23 0,34
Dividende8 0,00 0,00 0,00 0,05 0,07 0,07 0,07 0,07
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2018 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Baker Tilly

WKN Kurs in € Einschätzung Börsenwert in Mio. €
549293 4,600 Halten 44,86
KGV 2021e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
11,79 18,31 0,672 13,75
1,06 9,59 0,58 6,984
Dividende '19 in € Dividende '20e in € Div.-Rendite '19e
in %
0,07 0,07 1,52 23.06.2020
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
13.05.2020 12.08.2020 08.11.2019 31.03.2020
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-2,54% -14,24% 2,68% -32,35%
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Kunststoffe , 549293 , MZX , XETR:MZX