Gelsenkirchen, Germany -- The Masterflex Group has reported a revenue increase of more than 11% to EUR16m ($22m) during Q1 2014 compared to a revenue income of EUR14.3m during last year’s first quarter.
The company’s Q1 2014 EBITDA (earnings before interest, taxes, depreciation, and amortisation) was reported at EUR2.76m compared to EUR2.37m during the first quarter of 2013, an increase of 16.4%.
Masterflex chief executive officer Andreas Bastin said innovation around its polyurethane-based hose and connecting systems had impacted upon the results. He said: “Even though some of this increase is due to this year’s late Easter, the incoming orders show us that our business is doing well.”
Bastin also revealed that three out of four German locations had been reorganised and placed under single management since January 2014.
According to a company press release, the hike in revenue reflects a growth in sales of its high-tech hoses and connecting systems, which utilise the Master-PUR Trivolution.
The company said its polyester-polyurethane combined material provides “better mechanical characteristics” than the polyether-polyurethane often used.