Masterflex Group grows by 3.5% to EUR 80.0 million revenues in 2019 according to preliminary figures
- Operating EBIT of EUR 5.1 million and EBIT margin of 6.3%
- Adjusted revenues forecast achieved, earnings forecast slightly exceeded
Gelsenkirchen, 6 March 2020 - According to preliminary figures, the Masterflex Group has generated revenues of EUR 80.0 million in 2019. This represents an increase of 3.5% on the previous year's revenues of EUR 77.2 million. Operating EBIT generated in 2019 amounted to EUR 5.1 million, compared with EUR 6.3 million in the previous year. The operating EBIT margin reached 6.3% (previous year: 8.1%). The Masterflex Group has thus achieved the revenues forecast that was adjusted in November 2019 and slightly exceeded the EBIT margin in terms of earnings. The Company had forecast consolidated revenues in a range of EUR 79.0 million to EUR 80.0 million and an adjusted operating EBIT margin in a range of 5% to 6%.
Dr. Andreas Bastin, CEO of the Masterflex Group: "In 2019, we were able to generate revenue growth for the tenth year in succession - while at the same time achieving a consistently positive profit situation. We are working hard to achieve this again in 2020, but economic uncertainties and the effects of the coronavirus epidemic make forecasts extremely difficult. We are not satisfied with the profitability achieved in 2019, even if it is slightly above the adjusted forecast."
The "Back to Double Digit" (B2DD) optimisation programme launched in 2019 will continue undiminished, with the aim of a stepwise, sustainable return to double figures in the operating EBIT margin by 2022. Initial measures and successes have already been achieved in improving personnel productivity. These effects will gradually become visible in the coming quarters. Due to the economic slowdown in individual target industries such as Automotive and Engineering, which had impacted Masterflex in particular from the fourth quarter of 2019, the measures of the B2DD programme were extended further in 2019 - not least in order to be optimally positioned in the current environment.
The financial figures are still subject to confirmation by the auditors and approval by the Supervisory Board. The 2019 consolidated financial statements will be published on 31 March 2020.
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.
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