Gelsenkirchen, Germany - Masterflex SE, a manufacturer of polyurethane and plastic hoses, said it has returned to growth in the second quarter, with revenues rising by 6.4%. The company did not disclose a quarterly sales amount.
The German hose manufacturer noted that after a weak start in the first quarter, sales totaled €29 million in the first six months of 2013, 2.5% more compared to the previous year. Despite this, earnings (EBITDA) were down 13.7% in the first half of the year, to €4.6 million.
"Despite the downbeat tones being heard all round the Eurozone, we are experiencing growth again," commented Andreas Bastin, Masterflex CEO. "Our internationalisation policy is showing the first signs of clearly measurable successes."
Bastin added that the company still had a long way to go to become a global market leader in its markets, but is currently focusing on strengthening its sales and marketing. "These up-front costs of internationalisation are nevertheless essential in order to be successful in the long term," Bastin concluded.