Gelsenkirchen, Germany - Plastics processing group Masterflex AG of Gelsenkirchen said 31 March that it expects to record further growth in fiscal 2008, as confirmed by the board during the company's 2007 financial press conference in Düsseldorf.
In 2007, the polyurethane hose maker said, it had a successful year, and furthered the globalisation of its activities, particularly in eastern Europe and Asia. Masterflex also finished restructuring its medical technology business.
Consolidated revenue increased for the 20th year in succession, rising by 19.8 percent to Euro 138.6 million ($214 million). The group also recorded encouraging earnings development: earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 7.0 percent to Euro 18.4 million, while EBIT rose 51.6 percent to Euro 15.4 million (2006: Euro 10.1 million).
This revenue and earnings growth was achieved across all of Masterflex's busineses, the group said. In its core High-Tech Hose Systems segment, revenue increased by 9.5 percent to Euro 45.3 million, while EBIT rose by 5.4 percent to Euro 9.7 million.
The Medical Technology business had revenue growth of 2.1 percent to Euro 18.3 million, while segment EBIT improved from Euro -4.0 million in the previous year to Euro 0.2 million. Substantial EBIT growth is forecast for 2008.
Revenue in Advanced Material Design increased by 36.6 percent to Euro 25.4 million, whereas EBIT recorded below-average growth of 7.4 percent to Euro 2.3 million.
Masterflex said it feels it is well positioned for its further development in 2008 and expects consolidated revenue to increase by 10-15 percent and EBIT by 6-12 percent.