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08.03.2018

Masterflex Group posts strong growth in 2017 in both revenues and earnings, according to preliminary results

- Revenues up 12.3% to EUR 74.7 million - Operating Ebit up 16.1%, to EUR 7.1 million

Gelsenkirchen, 8 March 2018 - 2017 was a highly successful year for Masterflex Group, in terms of both revenues and earnings. According to preliminary results, revenues from high-tech hoses and connection systems were up 12.3%, from EUR 66.5 million to EUR 74.7 million. Masterflex Group's earnings grew at a slightly faster pace, as Ebitda climbed from EUR 8.8 million to EUR 10.3 million. This represents a gain of 16.5%. Masterflex Group's adjusted operating profit (Ebit) improved by 16.1%, from EUR 6.1 million to EUR 7.1 million, resulting in an Ebit margin of 9.5% (previous year: 9.2%). With these figures, Masterflex has exceeded its own targets, aiming for revenue growth of 6-10%, as well as realizing the expected improvements in earnings. However, its Ebit margin of 9.5% was slightly below the target value of 10%. The reasons are unexpected one-off effects such as inventory differences and a year-end revenue shift in the US, which were only worked out during the finalization of the financial statements.

Dr. Andreas Bastin, the CEO of Masterflex Group, stated as follows: "We were able to meet many of our goals in 2017 and, measured in terms of financial ratios, we have had a very successful year. In particular, we have already received significant revenue and earnings contributions from our new subsidiary, APT Advanced Polymer Tubing GmbH, based in Neuss, which has allowed us to extend our service portfolio in a highly effective manner. However, we are also taking the strength and power we have regained in recent years as an opportunity to better position our company for challenges like digital transformation by means of our 2017 strategy expansion. 2017 was a record year and was also a year of transition. The future is digital, also for high-tech hoses and connections systems: for example, we are proceeding with the development of our smart and intelligent hoses and are planning to create new digitally based value-added services for these products."

These figures are still subject to confirmation by the auditors and subject to approval by the Supervisory Board. The 2017 consolidated financial statements will be presented by the Management Board at the annual press conference on 29 March 2018 in Dusseldorf.

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