Gelsenkirchen, China - Masterflex SE, which makes high-tech plastic and polyurethane hoses, has reported sales of €55 million ($71 million) in 2012, an increase of 3.7%.
Operating earnings before interest and taxes (EBIT) increased from €7.5 million in 2011 €7.6 million last year. Operating margin was 13.7%. The Gelsenkirchen-based company attributed this low increase to "initial costs of internationalisation".
"We are investing in our growth, which is based on continued internationalisation and innovation, but acquisitions in the hose business are also possible," commented CEO Andreas Bastin.
Consolidated net income amounted to €4.4 million up from €3.9 million in 2011. Earnings per share came to €0.50.
In 2013, Masterflex will continue to 'unify its brand presence' and show customers the potential offered by high-tech hoses. "We want to tap this potential through continued profitable growth. This includes developing our internal processes and structures," Bastin noted.