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DGAP-News: Masterflex SE: Masterflex Group remains on growth track and increases revenue by 3.4% in 2018

DGAP-News: Masterflex SE / Key word(s): Annual Results/Forecast


Masterflex SE: Masterflex Group remains on growth track and increases revenue by 3.4% in 2018


15.03.2019 / 08:00



The issuer is solely responsible for the content of this announcement.


Masterflex Group remains on growth track and increases revenue by 3.4% in 2018

- Operating EBIT of EUR 6.3 million affected by delayed revenue recognition

- Comprehensive package of measures to increase returns in individual subsidiaries announced

- Continued growth expected at stable earnings development in 2019



Gelsenkirchen, 15 March 2019 -Masterflex Group increased revenues by 3.4% from EUR 74.7 million to EUR 77.2 million in 2018. This was the ninth year in succession that the company achieved revenue growth. However, the company slightly underperformed its own target of EUR 78.0 to 81.0 million. Adjusted for currency effects, the revenue target would have been achieved. In addition, productivity decreases and delayed deliveries due to a partially very high sickness rate in some subsidiaries prevented stronger revenue growth. This potential is demonstrated by the very good development of incoming orders and the unusually high order backlog at the turn of the year.

The revenue trend in 2018 led to a dampening of the earnings trend. Masterflex Group achieved EBITDA of EUR 9.6 million after EUR 10.3 million in the previous year. Operating EBIT developed similarly, decreasing from EUR 7.1 million to EUR 6.3 million. The EBIT margin dropped from 9.5% to 8.1%. Net income for the year amounted to EUR 3.4 million after EUR 4.3 million in the previous year. In addition to the revenue trend, higher personnel costs due in particular to various personnel measures as well as higher material costs had an impact.
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