Gelsenkirchen, 22 March 2007. In operating terms Masterflex AG (ISIN DE0005492938) concluded the 2006 financial year very successfully. Consolidated revenues increased for the nineteenth consecutive time, moving up by 38.1 percent to EUR 115.7 million. Consolidated EBITDA increased by 18.2 percent to EUR 17.2 million, consolidated EBIT on an operating basis excluding impairment by 15.8 percent to EUR 14.2 million (PY: EUR 12.3 million). It was thus at the upper end of the forecast corridor of 10 to 20 percent.
In the course of preparing the annual financial statements, the Masterflex AG Management Board made a revaluation of financial assets. In view of the positive, but unsatisfactory earnings situation at the subsidiary Angiokard Medizintechnik GmbH & Co. KG 2006 impairment of EUR 4.1 million was taken on the goodwill to the reporting date of 31 December 2006.
This impairment does not impact cash flow, but meant that the result was lower. Consolidated EBIT was EUR 10.1 million. Consolidated net income moved up by 24.9 percent to EUR 4.5 million (PY: EUR 6.0 million). This is equivalent to earnings per share of EUR 1.03 (PY: EUR 1.37).
Due to the positive development of operating earnings, the Management Board will propose the Masterflex Supervisory Board the payment of a dividend at the previous-year level of EUR 0.80 per share, which will then be presented for voting at the Annual General meeting on 5 June 2007.
The Masterflex AG Management Board is optimistic that the positive operating development will continue in the current financial year. A range of product innovations are about to be launched and successful internationalisation is to be reinforced. The Management Board thus expects Consolidated revenues to increase between 10 and 20 percent and Consolidated EBIT to rise between 50 and 60 percent. On the basis of Consolidated operating EBIT 2006, this is an increase of between 6 and 12 percent.
The complete annual report for 2006 is to be presented at the Accounts Press Conference and the DVFA Analysts Conference on 2 April 2007 and will then be available for downloading.