Q1/2013: A Solid Start to 2013
The figures of Q1/2013 • Q 1: Turnover of € 14.3 million • Good international order volume • Equity ratio now over 40 %
Gelsenkirchen, Germany, 7 May 2013 – The start of 2013 has been nearly solid for Masterflex SE, the worldwide specialist for high-tech hoses and connection systems. A turnover of EUR 14.3 million was achieved and is a strong result compared to the previous year (EUR 14.5 million) especially considering the lower number of actual working days. The declining sales in Europe were compensated almost completely by the international sites in Asia, USA and Russia.
Dr. Andreas Bastin, CEO: "We are gradually gathering real momentum in those areas, which we see as harbouring the lion’s share of our growth in the long term. For this reason, we are convinced that we can achieve our forecast for 2013 with an above-average increase in turnover and a double-digit EBIT margin. Because the general conditions for our business have hardly changed: In Europe, the economy is stagnating due to the continuing economic and financial discussions; whereas the rest of the world is witnessing ever-increasing dynamics of growth".
That’s why the only publicly listed hose manufacturer invests with its growing employee base in its international future, as well as in the internal optimisation of integral processes. This is evident in the figures compared to Q1/2012: The EBIT (Earnings before interest & taxes) is reported as EUR 1.8 million (Q1/2012: EUR 2.1 million) and the EBIT margin as 12.2 % (14.6 %). The investments are going to be successful: "In the meantime, we are happy with our good order volume and the first sustained sales figures for Asia", summarized Bastin.
The second pillar of growth, innovation, is not neglected here. The first quarter in 2013 saw the Group introduce a new multifunctional hose onto the market under the brand name Masterflex. This new hose, resulting from the further development of the renowned Master-PUR range, combines the additional features "anti-static" and "microbe-resistant" in a single hose as standard, as frequently requested by our customers. Even more product developments are currently in the pipeline.
In addition, a new mid-term syndicated financing with a volume of up to EUR 40 million was agreed in early May of this year. This, in conjunction with the refinancing of the existing loan, covers the financing of possible acquisitions in the hose business (see Adhoc announcement from 3rd May 2013).
| 31.03.2013 | 31.03.2012 | Change |
Consolidated revenue (k€) | 14,339 | 14,511 | -1.2% |
EBITDA (k€) | 2,377 | 2,761 | -13.9% |
EBIT (k€) | 1,752 | 2,124 | -17.5% |
EBT (k€) | 1,470 | 1,734 | -15.2% |
Consolidated earnings from continued business units (k€) | 967 | 1,137 | -15.0% |
Consolidated earnings from discontinued business units (k€) | 3 | -6 |
|
Consolidated net income/loss (k€) | 945 | 1,063 | -11.1% |
Earnings per share from continued business units (€) | 0.11 | 0.12 | -8.3% |
Earnings per share from discontinued business units (€) | 0.00 | 0.00 |
|
Earnings per share (€) | 0.11 | 0.12 | -8.3% |
EBIT margin | 12.2% | 14.6% |
|
Employees | 506 | 472 | 7.2% |
| 31.03.2013 | 31.12.2012 | Change |
Consolidated equity (k€) | 21,797 | 20,524 | 6.2% |
Consolidated total assets (k€) | 53,453 | 52,435 | 1.9% |
Consolidated equity ratio (%) | 40.8% | 39.1% |
|
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