- WKN: 549293
- ISIN: DE0005492938
- Land: Deutschland
Nachricht vom 20.06.2012 | 13:55
Masterflex AG: Successfull Annual General Meeting
Masterflex AG / Key word(s): AGM/EGM
Masterflex AG: Successful Annual General Meeting
- Transformation into SE resolved by large majority
- Forecast for 2012 confirmed
Gelsenkirchen, 20 June 2012 - Masterflex AG has confirmed its revenue and earnings forecasts for 2012 at its Annual General Meeting in Gelsenkirchen on 19 June. Provided that there are no dramatic negative developments in the global economy, the Executive Board is anticipating a rise in revenue of between 8% and 10% to between EUR57 million and EUR58 million in the current year with EBIT of around EUR8.0 million. Over the year, this would mean an EBIT margin of 14%.
Masterflex met these forecasts in the first three months of 2012 with revenue of EUR14.5 million and EBIT of EUR2.1 million. This corresponds to an EBIT margin of 14.6%. 'The initial results for 2012 clearly show that our business model is highly profitable despite the upfront costs incurred for internationalisation,' said CEO Dr. Andreas Bastin in his speech to the Annual General Meeting.
The Management Board believes that the business model has good prospects in the medium term. 'We are anticipating organic growth of 8% to 10% per year, even if this will not be possible in the markets on which we are currently operating. But our two growth pillars, product innovations and international expansion, will carry us here,' continued Bastin. 'In addition, we can also imagine acquisitions in hose business in future, if this would allow us to extend our product portfolio of high tech hoses technologically or to fill in the gaps on our map.'
The shareholders approved the transformation of the company into the legal form of an SE, Societas Europaea, with a large majority (99.79% of the 42.70% of share capital present). Thus, the process of achieving this legal form - one that is becoming increasingly significant on the international stage - will continue.
There was also broad approval at the Annual General Meeting for the other items on the agenda - approval of the executive bodies and the election of the auditor.
The results have been published in detailed on the website at Investor Relations/Annual General Meeting 2012 (www.masterflex.de)
The Masterflex Group is a specialist in the development and production of high-quality connector and hose systems. With 13 operating units in Europe, America and Asia, the Group is represented almost all over the world. Its growth is driven by internationalisation and innovation. Masterflex shares have been listed as Prime Standard on the German stock exchange since 2000.
Contact: Dr. Annette Littmann, email@example.com
End of Corporate News
20.06.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
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|Phone:||+49 (0)209 97077-44|
|Fax:||+49 (0)209 97077-20|
|Indices:||Prime all share|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart|
|End of News||DGAP News-Service|
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