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DGAP-News: Masterflex SE / Key word(s): Preliminary Results
Masterflex SE grows more strongly than forecast in the 2021 financial year - dividend increase
- Group turnover of EUR 79.1 million (plus 10.0% compared to the previous year) above the forecast range raised in the third quarter
- Group operating EBIT of EUR 5.8 million above pre-pandemic level
- Significant improvement in operating EBIT-margin to 7.3% highlights success of B2DD
- Order book as of 31 December 2021 (EUR 22.9 million) more than doubled compared to 2020 (EUR 9.4 million)
- Dividend increase to EUR 0.12 per share (previous year: EUR 0.08)
- Positive outlook: Double-digit EBIT-margin planned for the current financial year
Gelsenkirchen, 8 March 2022 - Masterflex SE (ISIN: DE0005492938) generated revenue of EUR 79.1 million in the 2021 financial year according to preliminary figures. This corresponds to an increase of 10.0% compared to the previous year's revenue of EUR 71.9 million. Operating EBIT increased to EUR 5.8 million in the 2021 financial year, compared to EUR 3.2 million in 2020. The operating EBIT-margin thus rose significantly to 7.3% (previous year: 4.4%).
With a revenue increase of 10.0%, Masterflex SE is above the communicated forecast for 2021. The guidance, which was adjusted upwards after the third quarter, envisaged revenue growth of 5% to 8% compared to the previous year. In terms of operating EBIT, Masterflex SE was able to exceed the pre-pandemic level of 2019 (EUR 5.1 million) by 13.7% thanks to a higher operating EBIT-margin. The "Back to Double Digit" (B2DD) optimisation programme is having the desired effect and has made a significant contribution to the successful business development.
Throughout 2021, the effects of the Corona pandemic continued to be felt, which was particularly noticeable in the supply and price situation of raw materials. In terms of customer industries, Masterflex SE recorded increasing demand, particularly from cyclical sectors such as automotive and mechanical engineering. In contrast, the high-margin business in medical technology showed a flat demand trend due to postponements of operations and the weakening special economic situation in the Corona environment. On the other hand, there was a pleasing increase in orders from the aerospace industry. Overall, the increased demand in the automotive, mechanical engineering and aerospace sectors is reflected in a significant increase in order backlog to EUR 22.9 million as at 31 December 2021 (previous year: EUR 9.4 million).
For the 2021 financial year, the Management Board and Supervisory Board of Masterflex SE will propose an increased dividend of EUR 0.12 per share (previous year: EUR 0.08 per share) to the Annual General Meeting on 14 June 2022. The Group of companies is thus continuing its sustainable dividend policy on the basis of the successful business development.
Dr Andreas Bastin, CEO of the Masterflex Group, comments: "After a successful year in 2021, we want to continue to grow across all sectors in 2022. The catch-up effects in medical technology and the high order intake in aviation as well as the stable development in the cyclical customer industries make us fundamentally positive. The successful development in revenue and earnings in 2021 makes it clear that we are on the right track with our B2DD programme. Especially in the aviation business, an even significantly better result would have been possible in the past financial year with higher capacities. Our goal of achieving a double-digit EBIT-margin in the current year stands."
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.
08.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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