DGAP-News

Masterflex SE business development exceeds plan - Medium-term double-digit EBIT margin target already almost achieved - Seite 3

Activities in the aviation industry continued to progress at a low level. All other companies reported higher sales and earnings year-on-year. Positive growth impetus also came from Asia. However, the increasing shortage of raw materials slightly slowed down the growth momentum in the various sectors.

Dr. Andreas Bastin, CEO of the Masterflex Group: "We are very satisfied with our development in the first nine months. Despite all the challenges arising from the aftermath of the corona pandemic, the tense supply chains and the related rising raw material prices, our growth has stabilized and our profitability is developing in the right direction. We are more convinced than ever that, starting from a good fiscal year 2021, we will achieve the mid-term targets that we have communicated. We have a solid order intake and the fact that not all customer industries by any means have found their way back to growth leaves even further room for improvement."

Forecast adjusted upwards

At the end of the third quarter, the Masterflex Group's revenue forecast for the year, which was based on an increase in revenue of 2% to 5%, is above the upper end of the target range. Based on a solid order situation, it is foreseeable that the Masterflex Group will perform better than originally planned in terms of revenue for the full year 2021, which allows the annual targets to be specified and increased.

For this reason, the Management Board expects revenue within a range of EUR 76 million to EUR 78 million for the full year 2021. This equates to year-on-year revenue growth of 5% to 8%. Operating EBIT for the full year 2021 is expected to be significantly above the level of the fiscal year 2020 (EUR 3.2 million) and above the level of the fiscal year 2019 (EUR 5.1 million) - in line with the business development in the first nine months of the current fiscal year, which underscores the successful implementation of the B2DD program given the lower revenue base compared to 2019. Therefore, the Management sees the Masterflex Group full on track to achieve a double-digit EBIT margin again from 2022 on, as previously communicated.