Gelsenkirchen, March 21, 2023 - Masterflex SE (ISIN: DE0005492938) generated revenue of EUR 100.3 million in the 2022 financial year according to preliminary figures. This means that the specialist for innovative hose systems has not only reached a new record level, but also achieved the revenue target of EUR 100 million set for 2024 two years early. Compared to the previous year's revenue of EUR 79.1 million, the Group recorded growth of 26.8%. Operating EBIT increased by 97.7% to EUR 11.4 million in fiscal 2022, compared to EUR 5.8 million in 2021, resulting in a significant increase in the operating EBIT margin to 11.4% (previous year: 7.3%).
Thanks to the continued good demand in the fourth quarter, Masterflex SE's revenue and earnings are thus above the forecast that was raised in October. This forecast provided for revenue in the range of EUR 92.0 to 96.0 million and an operating EBIT of EUR 9.3 to 10.5 million. The pleasing revenue development reflects the stable demand in the addressed markets, above all in the aerospace, life science and medical technology sectors, but also in the traditional industries.
On the margin side, the productivity gains from the implemented B2DD program in particular had a noticeable impact, which in addition to economies of scale from higher sales volumes showed their full effect and contributed to achieving a sustainable double-digit EBIT margin in the financial year 2022. At the same time, the Group succeeded in largely offsetting the increased energy and material costs through the price adjustments agreed upon with customers.
At EUR 22.8 million, the order backlog as of December 31, 2022, was able to maintain the high level of the previous year (EUR 22.9 million). At the same time, Masterflex recorded a continued solid order intake. Against this backdrop, management expects growth to continue in the current year. The Management will provide a detailed outlook for the financial year 2023 in the context of the publication of the Annual Report 2022.
For the financial year 2022, the Management Board and Supervisory Board of Masterflex SE will propose to the Annual General Meeting on June 7, 2023 an increased dividend of EUR 0.20 per share (previous year: EUR 0.12 per share). The Group is thus continuing its dividend policy, which is designed to give shareholders a sustainable and appropriate share in the success of the company.
Dr. Andreas Bastin, CEO of the Masterflex Group, comments: "2022 was an intense and challenging year. We are all the more proud that we were able to achieve new record figures in the Group and, as promised, reach and consolidate our double-digit EBIT margin for the year as a whole, as well as bring forward our original revenue target of EUR 100 million in 2024 by a whole two years. We would therefore like to express our special thanks to all our employees for this outstanding performance. Thanks to a sustained good order situation, we are also confident about the current financial year 2023."
The figures are still subject to confirmation by the auditors and approval by the Supervisory Board. The 2022 consolidated financial statements will be published on March 31, 2023.