EQS-News: Masterflex SE presents Annual Report 2024 – Record operating result achieved despite challenging economic environment

Masterflex SE presents Annual Report 2024 – Record operating result achieved despite challenging economic environment

• Group revenue of EUR 98.1 million (previous year: EUR 101.1 million)
• Record EBITDA of EUR 18.2 million (previous year: EUR 17.9 million) and operating EBIT of EUR 12.7 million (previous year: EUR 12.6 million) achieved
• Operating EBIT margin improved again to 13.0% (previous year: 12.4%)
• Balance sheet quality significantly improved with an equity ratio of 67.7% (previous year: 61.5%)
• Dividend of EUR 0.27 per share planned for 2024 (previous year: EUR 0.25)
• Liabilities to banks reduced by 25%
• Forecast for 2025: Revenue of EUR 100 million to EUR 105 million and EBIT of between EUR 12 million and EUR 15 million expected

Gelsenkirchen, March 28, 2025 – Masterflex SE (ISIN: DE0005492938) today presented its audited consolidated financial statements for the 2024 financial year and confirms the preliminary figures published on March 13, 2025. Despite an overall challenging economic environment and the associated recessionary trends in some customer industries, Masterflex has once again succeeded in continuing its successful course of sustainably increasing profitability.

In the 2024 financial year, Masterflex Group generated revenue of EUR 98.1 million (previous year: EUR 101.1 million) and looks back on a successful and robust business performance despite a noticeable economic headwind. Although revenue remained slightly below the forecast range of EUR 100 million to EUR 107 million due to restrained demand in the traditional cyclically sensitive customer sectors, EBITDA reached a new record level of EUR 18.2 million (previous year: EUR 17.9 million). At EUR 12.7 million, operating EBIT in the 2024 financial year was also at a new record level (previous year: EUR 12.6 million), meaning that Masterflex Group was able to achieve the forecast range of EUR 12.0 million to EUR 15.0 million despite weaker than expected revenue. This resulted in a further increase in the operating EBIT margin in the 2024 financial year from 12.4% in the previous year to 13.0%. Consolidated net income amounted to EUR 8.2 million in the reporting year (previous year: EUR 8.0 million). Earnings per share in accordance with IFRS on a basic and diluted basis amounted to EUR 0.86 (previous year: EUR 0.83).

The slight decline in revenue reflects the weak economic development in Europe and especially in Germany. Customer sectors such as mechanical and plant engineering and the automotive industry recorded cyclical weakness in demand in 2024. For customers in the medical technology sector, inventory corrections and project postponements slowed momentum. By contrast, the food and semiconductor industries and the aviation industry continued to record robust growth as customer sectors. In addition to Europe, economic development in Asia was also sluggish at a regional level. In the USA, on the other hand, the economy was robust. The pleasing earnings performance despite the slight decline in revenue is mainly due to a favorable and high-margin product mix as well as further efficiency improvements, which compensated for the inflation-related higher costs, particularly for personnel.

The Group's financial position improved further in the 2024 financial year. Masterflex Group's cash and cash equivalents increased to EUR 11.6 million as at December 31, 2024 (previous year: EUR 11.0 million) with simultaneous repayment and lower utilization of bank liabilities in the amount of EUR 5 million. As a result, net debt amounted to EUR 9.0 million at the end of 2024, a significant improvement on the previous year's figure of EUR 13.1 million. The successfully implemented restructuring of the syndicated loan in September 2024 with a volume of EUR 55 million and an option to increase it by a further EUR 25 million will lead to an optimized financing situation with long-term planning security for further growth financing, including M&A activities.

The consolidated equity of Masterflex Group improved to EUR 63.6 million as at the balance sheet date on December 31, 2024 (previous year: EUR 57.6 million), in particular due to the renewed increase in profits. The equity ratio (equity in relation to total assets) was therefore 67.7% at the end of the 2024 financial year (previous year: 61.5%).

Order backlog as at December 31, 2024 remained at a high level of EUR 19.8 million (previous year: EUR 20.5 million). Against this background, Masterflex Group is aiming for further growth in all customer industries in the 2025 financial year, despite the volatile economic development expected by the economic institutes, with disproportionately high opportunities for customers in the medical technology and aviation sectors. In addition to general growth expectations, this confidence is based in particular on the ongoing vertical integration of the product portfolio and further development into a system provider, the expansion of the product range and individual special projects. Specifically, the Management of Masterflex Group expects revenue in the range of EUR 100 million to EUR 105 million for 2025. In terms of EBIT, a range of between EUR 12 million and EUR 15 million is anticipated.

Dr. Andreas Bastin, CEO of Masterflex Group, comments: “With a continued robust earnings position, a stable equity base and important decisions such as the newly concluded syndicated loan, Masterflex is ideally positioned strategically for the future to take the next growth and transformation steps with our Hero@Zero future program. Our focus remains on operational excellence, international growth and sustainable profitability. Despite existing geopolitical or customs-related challenges, we are optimistic about the 2025 financial year.”
 

Dividend

Due to the positive results development, the Management Board and Supervisory Board of Masterflex SE will propose an increased dividend of EUR 0.27 per share for the 2024 financial year (previous year: EUR 0.25 per share) at the Annual General Meeting on June 12, 2025.

Annual Report

The English translation of the Annual Report 2024 will be published at www.masterflexgroup.com on April 11, 2025.

Conference Call

A conference call will be held for representatives of the press, analysts and institutional investors on March 28, 2025, 10:00 am. The current investor presentation on the 2024 business figures will be published on www.masterflexgroup.com.

To participate, please register here: Masterflex SE – Earnings Call FY 2024

About Masterflex SE:

The Masterflex Group specializes in 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 (GSIN: 549293, ISIN: DE0005492938) have been listed in the Prime Standard of the German Stock Exchange since 2000.

IR Contact:

Susan Hoffmeister
Investor Relations
Tel.: +49 (0) 89 125 09 03-33
sh@crossalliance.de
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