Masterflex SE

Dividend Payout Ability regained through Growth Path

Unternehmensmitteilung für den Kapitalmarkt

Gelsenkirchen/Germany (pta005/30.03.2015/08:00) - In the 2014 financial year, Masterflex SE steadily continued the growth trend it has enjoyed for four years. Turnover of the specialist supplier of high-tech hoses and connection systems, which operates almost everywhere in the world, increased by 7.9 percent to its current level of Eur 62.5 million. The operating result grew by 3.3 percent to Eur 6.3 million producing an operating profitability (EBIT margin) of 10.1 percent. Thus, the company was able to confirm preliminary figures for the 2014 financial year in an adhoc announcement published on 3 March. The consolidated net profit at Eur 3.0 million is higher than the previous year.

Dr. Andreas Bastin, CEO of the Masterflex Group, said, "Due to the pace of growth and sustained profitability, 2014 was a good year for us. Yet, true to the saying 'Good is the enemy of better', we are nevertheless certain that there is always room for improvement. And to become even better is our declared goal for 2015. Because we want to be the market leader in all of the global markets we address in the medium term. In addition to Europe, these are located in America and Asia in particular".

The financial result in 2014 at Eur -1.1 million was 28.8 percent below the previous year (Eur -1.6 million). The syndicated loan negotiated in 2013 with its preferential rates of interest is reflected here significantly. Expenses for income tax rose to Eur 2.0 million (previous year Eur 1.7 million*); in the previous year, a not insignificant portion is attributable to the result correction with regard to the deferred tax assets in accordance with IAS 8. Earnings from continued operations amounted to Eur 3.2 million in the past year (previous year Eur 2.9 million*) and the expenses from discontinued operations were Eur -0.2 million (Eur -0.1 million). The consolidated net profit amounts to Eur 3.0 million (previous year Eur 2.6 million*) or Eur 0.34 per share (previous year Eur 0.29*).

Operating cash flow remained at Eur 6.8 million roughly at the previous year's level (Eur 8.0 million) taking into account the stronger increase in income taxes paid. The equity ratio lies at 45.9 percent (previous year 40.7 percent*).

In accordance with the HGB individual financial statement applicable to making dividend payouts, the specialist supplier of high-tech hoses achieved the capability to pay out a dividend at the end of the 2014 financial year for the first time in several years. Bastin said, "On this basis, the first phase of our growth which started following the restructuring in 2011 ended faster than expected. The payment of a dividend is a topic of our agenda over the next few years. Now we just have to stay on track with respect to the partly conflicting objectives of 'reducing debt', 'financing growth', 'making use of opportunities for company acquisitions' and payment of a dividend".