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DGAP-News: Masterflex SE / Key word(s): Quarter Results Masterflex SE: Strong growth over the course of the year

11.11.2013 / 08:05

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Masterflex SE: Strong growth over the course of the year

- Increase in turnover of 10.3% in Q3/2013 making + 5.1% to date

- Roughly stable EBIT margin of 10.5%

- First roll-out stage of staff recruitment completed in Asia

Gelsenkirchen, 11 November 2013: During the course of the first nine months of 2013, the business in Masterflex SE high-tech hoses and connector systems has improved dynamically. In Q3/2013 alone, turnover stood at EUR15.2 million, up around 10.3 percent over the same period over the previous year. For the first nine months of 2013, turnover of EUR44.2 million corresponds to a growth of 5.1 percent.

Dr. Andreas Bastin, Masterflex CEO, sums up: 'Over the last decade, we have never had such good turnover from our high-tech hoses as we had in Q3/2013. After a weak start to the year, our business has increased dynamically. Our international activities in America and Asia have been a significant contributing factor to this. It shows our internationalisation strategy is proving to be effective.'

As planned, operating income (EBIT) has worked out slightly less. The reported EBIT of EUR4.7 million and resulting EBIT margin of 10.5 percent reflect the - predominantly non-capitalisable - roll-out costs, primarily staff costs, needed for expansion in Asia. 'The EBIT slump may now have almost bottomed out yet, looking forward, this will change again', Bastin continues. 'Because the first stage in the roll-out of the sales organisation in Asia has now been completed. Thus, for the first time since 2011, the staff cost ratio over the first nine months has slightly dropped in comparison to 37.2 percent over the first half year (37.7 percent, previous year: 35.6 percent). The focus is now on getting all processes running smoothly as quickly as possible.'

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PRESS RELEASE: Masterflex SE: Strong growth over the course of the year