PRESS RELEASE : Masterflex SE returns to its growth path in first quarter of 2021 - operational EBIT +7.5%

DGAP-News: Masterflex SE / Key word(s): Quarter Results/Quarterly / Interim Statement 
Masterflex SE returns to its growth path in first quarter of 2021 - operational EBIT +7.5% 
2021-05-12 / 07:30 
The issuer is solely responsible for the content of this announcement. 
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Masterflex SE returns to its growth path in first quarter of 2021 - operational EBIT +7.5% 
- Several industries already at or above the previous year's level 
- Consolidated revenue at a high level of EUR 19.5 million 
- Consolidated operational EBIT at EUR 2.2 million 
- Implementation of the B2DD program showing effect - EBIT margin in double digits at 11.3% 
Gelsenkirchen, May 12, 2021 - The Masterflex Group posted a solid business performance in the first quarter of 2021 
despite the effects of the corona pandemic that are still being felt in certain customer industries. Revenue was EUR 
19.5 million and thus 4.9% below the same quarter of the previous year (EUR 20.5 million). Here, it is important to 
consider that the first quarter of 2020 in the core market of Europe was still hardly affected by the negative impact 
of the corona pandemic. 
The positive trend of the second half of 2020 continued in the first quarter of 2021. While demand remained stagnant at 
a low level, particularly in the area of aerospace products, the Group again recorded growth with customers from most 
customer industries - medical technology, life science, renewable energies, the process industry & robotics. In fact, 
some companies were even at or above the level of the previous year. The slow progress of imports and the increasing 
shortage of raw materials still dampened the growth potential in the reporting period and the outlook for the months 
ahead. 
The consistent implementation of the "Back to Double Digit" (B2DD) optimization program had an impact in the first 
quarter of 2021 in the form of increased profitability compared to the same quarter of the previous year. At EUR 2.2 
million, consolidated operational EBIT was up 7.5% on the same period of the previous year (3M/2020: EUR 2.1 million), 
despite the decline in sales. This equates to an EBIT margin of 11.3%, compared to 10.0% for the same period last year. 
Consolidated EBITDA reached EUR 3.4 million in the three-month period (3M/2020: EUR 3.3 million) and consolidated net 
income EUR 1.5 million (3M/2020: EUR 1.3 million). 
"We achieved the primary goal of our optimization program of substantially increasing personnel productivity on the way 
to what we call operational excellence. This can already be seen in how earnings developed in the first quarter, which 
was still challenging in some industries. We can see that the economy is picking up, however, a lot depends on the 
progress that is being made with the vaccination program. We are slowly emerging from the pandemic as an extreme 
situation and assume that all sectors will tend to grow over the next few years. We see 2021 as the starting year for a 
continuation of our long-term growth path with significantly higher profitability," said Dr. Andreas Bastin, CEO of the 
Masterflex Group. 
Considering the solid development in the first quarter, management confirms the guidance for 2021, which foresees an 
increase in revenue of 2% to 5%. At the same time, operational EBIT is expected to be above the previous year in 
absolute and percentage terms. These expectations are contingent on no further hard COVID-19 lockdowns. At the same 
time, management confirms its medium-term goal of seeing the operational EBIT margin return to double-digit figures on 
a sustainable basis by 2022 through significantly higher personnel productivity and significantly improved efficiency 
and return on capital employed. 
Conference call 
A conference call for members of the press, analysts and institutional investors will be held at 10:00 a.m. on May 12, 
2021. The quarterly statement as well as an up-to-date company presentation on the financial figures for the first 
quarter of 2021 are also published on www.masterflexgroup.com in the Investor Relations section. 
 
 
 Selected key figures in EUR thousand  March 31, 2021 March 31, 2020 
 
 Consolidated revenue                        19,512         20,510 
 
 EBITDA                                       3,404          3,261 
 
 EBIT (operational)                           2,205          2,051 
 
 EBIT margin (operational)                    11.3%          10.0% 
 
 EBIT                                         2,205          1,968 
 
 Consolidated earnings                        1,494          1,311 
 
 Earnings per share (EUR)                        0.16           0.14 
 
 
 
                     March 31, 2021 December 31, 2020 
 
 Group equity                43,144            41,285 
 
 Group equity ratio           55.0%             54.1% 
 
 Total Group assets          78,378            76,354 
 

About Masterflex SE:

The Masterflex Group is an expert on the development and manufacture of sophisticated connection and hose systems. With 14 operating units in Europe, America and Asia, the Group is represented nearly worldwide. Current drivers of its growth include internationalization, innovation, operational excellence and digitalization. Masterflex shares (GSIN 549293) have been listed in the Prime Standard of the German Stock Exchange since 2000.

IR Contact:

CROSS ALLIANCE communication GmbH

Susan Hoffmeister

Investor Relations

Phone: [phone]

[e-mail]

www.crossalliance.de -----------------------------------------------------------------------------------------------------------------------

2021-05-12 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      Masterflex SE 
              Willy-Brandt-Allee 300 
              45891 Gelsenkirchen 
              Germany 
Phone:        [phone] 
Fax:          [phone] 
E-mail:       [e-mail] 
Internet:     www.MasterflexGroup.com 
ISIN:         DE0005492938 
WKN:          549 293 
Indices:      Prime all share 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1195137 
 
End of News   DGAP News Service 
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1195137 2021-05-12

 
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May 12, 2021 01:32 ET (05:32 GMT)