EQS-News

Masterflex mit Profitabilitätssteigerung im ersten Quartal 2024 – Operative EBIT-Marge steigt auf 16,3 % - Seite 2

EBITDA increased by 1.8% to EUR 5.5 million (3M/2023: EUR 5.4 million) despite the decline in revenue. Group operating EBIT for the first quarter of 2024 improved to EUR 4.3 million and set a new record for a first quarter with an increase of 3.1% compared to the same period of the previous year (3M/2023: EUR 4.1 million). The Group's operating EBIT margin thus increased to 16.3% after 15.0% in the same period of the previous year. The very pleasing earnings performance given the decline in sales is mainly due to a strong increase in earnings in the aviation business at Matzen & Timm, which was achieved through volume effects and improved efficiency. The positive business development of the US activities and the continued high earnings level of the other subsidiaries also contributed significantly to the strong EBIT. The increase in earnings is based, among other things, on efficiency gains in production and optimizations in purchasing, which are reflected in an improved materials usage ratio. In addition, despite a higher wage and salary level due to inflation, personnel costs were successfully controlled through capacity optimization, which is reflected in an only moderately increasing personnel cost ratio of 34.2% in the reporting period compared to 33.1% in the previous year.

At net level, consolidated net income totaled EUR 2.8 million (3M/2023: EUR 3.4 million. Accordingly, consolidated earnings per share totaled EUR 0.30 (3M/2023: EUR 0.36). The decline in earnings at net level is due to higher financing costs as a result of the rise in interest rates and, in particular, a positive tax effect in the same period of the previous year.

“In terms of earnings, we had a strong start to the financial year. In the first quarter, we once again topped the high benchmark from the previous year and are of course working on increasing our profitability,” comments CFO Mark Becks.

The Masterflex Group's balance sheet position improved again as of March 31, 2024. Group equity amounted to EUR 60.6 million as at the end of March 2024, compared with EUR 57.6 million as of December 31, 2023. The Group's equity ratio consequently increased to 63.4% as of March 31, 2024 (December 31, 2023: 61.5%) despite the EUR 1.9 million increase in total assets to EUR 95.6 million (December 31, 2023: EUR 93.7 million).