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Masterflex SE with record EBIT in financial year 2023 - dividend increase to EUR 0.25 per share planned - Seite 2

The financial year at Masterflex was characterized in particular by good demand dynamics in the aviation business, the life science sector, and medical technology. In the classic cyclical sectors, however, increasing restraint on the part of customers was noticeable due to the economic headwinds and geopolitical concerns over the year, which was reflected in stagnating or slightly declining demand in individual sectors. Nevertheless, Masterflex succeeded in more than offsetting the negative developments in individual customer sectors. Although higher costs, particularly for personnel, were reflected in earnings due to inflation, this effect was more than compensated for. This was achieved through a growing share of higher-margin product sales, productivity gains and other successfully implemented efficiency measures.

Due to the pleasing earnings performance, the Management Board and Supervisory Board of Masterflex SE will propose an increased dividend of EUR 0.25 per share for the 2023 financial year (previous year: EUR 0.20 per share) at the Annual General Meeting on 12 June 2024.

Dr Andreas Bastin, CEO of the Masterflex Group, comments: "The Masterflex Group performed well in an economically challenging year increasingly characterized by a slowdown in economic momentum. We have made considerable progress in terms of profitability, which is reflected in the increased EBIT margin and record earnings. Accordingly, we will also propose a higher dividend for 2023 to our shareholders. The 2024 financial year will be similarly challenging, but we expect moderate growth in our core markets and want to continue on our chosen path of continuous (earnings) improvement."

Note:
The figures are still subject to confirmation by the auditors and approval by the Supervisory Board. The 2023 consolidated financial statements and the 2024 forecast will be published on 28 March 2024.

 

About Masterflex SE:
The Masterflex Group is the specialist for the development and manufacture of sophisticated connection and hose systems. With 14 operating units in Europe, America and Asia, the Group is represented almost worldwide. Growth drivers are internationalization, innovation, operational excellence and digitalization. Masterflex shares (ISIN: DE0005492938, GSIN 549293) have been listed in the Prime Standard of Deutsche Börse since 2000.