Gelsenkirchen, 24 April 2012 -- Masterflex AG said it has had a successful start to the 2012 financial year. Provisional figures from the German speciality hose maker show revenue rose to Euro 14.5 million ($19.2 million) from January to March 2012, a 4-percent increase on the same quarter of 2011,
Polyurethane specialist Masterflex said such revenue growth in 2012 is "even more remarkable given that the comparable period of the previous year - Q1 2011 - was characterised by non-recurring effects due to the sharp economic upturn, which saw a 24 percent increase in revenue."
Such a noticeable increase in revenue did not figure in our internal plans for the first quarter of 2012," said Dr Andreas Bastin, ceo of Masterflex. "Based on this promising start to the new financial year, we are now reaffirming our ambitious organic growth targets for 2012: our revenue target is in the region of Euro 57 to Euro 58 million with operating earnings (EBIT) of Euro 8 million."
EBIT for the first three months of 2012 came to Euro 2.1 million.
Masterflex will press ahead with the conversion of its legal form into that of an SE (Societas Europaea) as well as with the reorganisation of Masterflex AG
into a pure management and financial holding company.
Also, the spin-off process of Masterflex AG's operational business into a GmbH is still underway, the company added.
Masterflex added that, in product innovation, it has developed flame-resistant hoses -- the XFlame series -- designed for the particularly stringent requirements on use of hoses in welding equipment, welding robots, spot welding guns and grinding machines, for example.
XFlame will be unveiled at the Hanover industrial trade fair by Halberstadt-based Novoplast Schlauchtechnik GmbH - a wholly-owned subsidiary of Masterflex AG.
Masterflex says this new product "not only demonstrates impressive flammability resistance according to the regulations UL 94-V2 to V0, but also boasts the all-important
characteristic of being halogen-free so that no corrosive acids are released in the worst-case scenario. "
Welding-spatter-resistant XFlame hoses are even self-extinguishing in the event of a fire, the company emphasised, adding that its engineers achieve this particular characteristic, "which extends far beyond flammability resistance ," using additives that do not adversely affect hose properties.
For automotive needs, for example, all XFlame hoses are free from substance-inhibiting materials that could prevent the application of lacquer to metal surfaces. In addition, these hoses are also distinguishable by their specific kink resistance, high elasticity and spectacular abrasion resistance.