11.08.2021 Masterflex SE  DE0005492938

DGAP-News: Masterflex SE on course for growth in first half of 2021


 

DGAP-News: Masterflex SE / Key word(s): Half Year Report/Half Year Results
Masterflex SE on course for growth in first half of 2021

11.08.2021 / 07:30
The issuer is solely responsible for the content of this announcement.


Masterflex SE on course for growth in first half of 2021

- Consolidated revenue increases by around 4.0% to EUR 38.9 million (previous year: EUR 37.4 million)

- Consolidated operational EBIT rises by 49.6% to EUR 3.7 million

- Medium-term "double digit" earnings target already nearly achieved with a 9.5% EBIT margin

- High order backlog underpins sales and earnings targets

- Strong and profitable business development expected in second half of the year

Gelsenkirchen, August 11, 2021 - The Masterflex Group recorded growth again in the first half of 2021 despite the still noticeable dampening effects of the corona pandemic. While revenue in the first quarter of 2021 was still 4.9% below the previous year's level due to the corona pandemic, the Masterflex Group achieved revenue growth of 14.8% in the second quarter compared to the same quarter of the previous year. Overall, Masterflex closed the first half of 2021 by posting a 4.0% increase in revenue to EUR 38.9 million (previous year: EUR 37.4 million).

Operational earnings before interest and taxes (operational EBIT) amounted to EUR 3.7 million in the first half of 2021 (previous year: EUR 2.5 million), resulting in a significant year-on-year increase of 49.6%. This equates to an operational EBIT margin of 9.5% (previous year: 6.6%) in relation to total output. The Masterflex Group is thus on track to achieve the medium-term target of a double-digit EBIT margin formulated as part of the "Back to Double Digit" program. The efficiency measures implemented and the adjustment of capacities, in particular the closure of production in France and the Czech Republic, are having an impact. Consolidated net income amounted to EUR 2.4 million in the first half of 2021 and is thus 88.7% higher than last year's figure of EUR 1.3 million. Accordingly, earnings per share amounted to EUR 0.25, compared to EUR 0.13 in the same period of the previous year.

As expected, demand picked up in the second quarter of 2021 due to the ongoing progress of the vaccination program, falling incidence rates and the resulting significant easing of restrictions. Demand momentum was particularly strong in traditional industrial sectors such as mechanical engineering and the automotive industry, which were quite weak in 2020 due to the pandemic. By contrast, the COVID-19-related special boom in the medical technology sector flattened out slightly, as expected. The core medical technology business, which was relevant prior to COVID-19, did not generate any growth momentum due to pandemic-related postponements of operations. Despite the shift in the focus of demand, medical technology contributed a stable 17% to sales revenue (previous year: 20%). The aviation industry is still undergoing structural change; however the order situation is brightening in this area as well. The Masterflex Group's strategic focus on a wide range of different industries confirms the stability of its business model in uncertain economic times. The increase in the order backlog by around EUR 7 million since the beginning of the year also underscores the company's focus on long-term growth markets.

"Our development in the first half of 2021 shows that we have done our homework internally in terms of profitability and productivity. At the same time, we are seeing encouraging signs in terms of order intake; the investment backlogs caused by the pandemic are dissolving in various industries and this is already being reflected in our order intake. Even if a certain degree of caution is still appropriate with regard to the virus mutations, I am confident that 2021 will again be a growth year for Masterflex," said Dr. Andreas Bastin, CEO of the Masterflex Group.

With a view to the full year 2021, the management expects an above-average and profitable business development in the second half of 2021. The Management Board therefore confirms its forecast of an increase in revenue of 2 to 5% compared to fiscal year 2020 and EBIT that is above the previous year in both absolute and percentage terms. This is subject to the proviso that the delta variant or other mutations of the COVID-19 virus do not slow down the development of the global economy again.

Masterflex continues to stick to its general target of return-oriented growth above the growth rate of the economy. This includes the medium-term achievement of the return target of an EBIT margin in excess of 10%. The company continues to regard the achievement of a double-digit EBIT margin by 2022 as achievable.

Key figures

in EUR thousand 06/30/2021* 06/30/2020* Change
Consolidated Revenue 38,871 37,378 4.0%
EBITDA 6,070 4,665 30.1%
EBIT (operational) 3,680 2,460 49.6%
EBIT 3,680 2,249 63.6%
EBT 3,258 1,818 79.2%
Financial result -422 -431 2.1%
Consolidated result 2,438 1,292 88.7%
Consolidated earnings per share (EUR) 0.25 0.13 92.3%
EBIT margin (operational) 9.5% 6.6%  
Net return on sales 6.3% 3.5%  
Employees (number) 557 637 -12.6%
in EUR thousand 06/30/2021* 12/31/2020 Change
Consolidated equity 43,448 41,285 5.2%
Consolidated total assets 77,008 76,354 0.9%
Consolidated equity ratio 56.4% 54.1%  
*) unaudited

The Half Year Report as of June 30, 2021, is available on the Internet at https://www.masterflexgroup.com/investor-relations/financial-reports-of-masterflex-se/.


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:
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Investor Relations
Phone: 089 125 09 03-33
[email protected]
www.crossalliance.de



11.08.2021 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: [email protected]
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: 1225065

 
End of News DGAP News Service

1225065  11.08.2021 

fncls.ssp?fn=show_t_gif&application_id=1225065&application_name=news&site_id=boersengefluester_html


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 74,68 77,24 79,97 71,88 79,07 100,27 101,10
EBITDA1,2 10,26 9,59 9,66 7,89 10,67 16,44 17,90
EBITDA-Marge3 13,74 12,42 12,08 10,98 13,49 16,40
EBIT1,4 6,60 6,10 4,54 2,34 5,34 11,39 12,60
EBIT-Marge5 8,84 7,90 5,68 3,26 6,75 11,36 12,46
Jahresüberschuss1 4,30 3,22 2,44 0,80 3,30 7,83 7,15
Netto-Marge6 5,76 4,17 3,05 1,11 4,17 7,81 7,07
Cashflow1,7 8,34 4,68 6,60 11,55 6,81 10,11 0,00
Ergebnis je Aktie8 0,45 0,35 0,26 0,08 0,34 0,81 0,78
Dividende8 0,07 0,07 0,07 0,08 0,12 0,20 0,05
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - 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: BDO

INVESTOR-INFORMATIONEN
©boersengefluester.de
Masterflex
WKN Kurs in € Einschätzung Börsenwert in Mio. €
549293 9,340 Kaufen 91,09
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
9,94 17,10 0,62 22,89
KBV KCV KUV EV/EBITDA
1,67 9,01 0,90 5,95
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,20 0,25 2,68 12.06.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
08.05.2024 07.08.2024 06.11.2024 28.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
8,19% 2,84% 11,72% -1,89%
    
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu Masterflex SE  ISIN: DE0005492938 können Sie bei EQS abrufen


Kunststoffe , 549293 , MZX , XETR:MZX