Business
Masterflex : Investor Presentation August 2025
Masterflex : Investor Presentation August
About this update from Masterflex Se
Earnings Call Presentation HY/2025 © Copyright Masterflex Group AGENDA 01 02 03 04 Overview Key Figures HY/2025 Outlook Appendix Page 2 01 | Overview Highlights of the first six months 2025 1 Group revenue increased by 3.4% to EUR 53.4 million (previous year: EUR 51.6 million) in a challenging environment 2 Operating EBIT despite special effects increased to EUR 7.9 million (previous year: EUR 7.5 million) - margin at 14.7% (previous year: 14.6%) 3 Strategic milestones: Capacity expansion for the aviation business and conclusion of the largest engineering and framework agreement in the Company's history to date 4 Order situation: Robust growth in infrastructure-related industries and with customers from the medical technology and aviation business Order backlog of EUR 20.1 million at 30/06/2025 at a solid level (31/12/2024: EUR 19.8 million) 5 6 Increase in Group equity to EUR 64.9 million (31/12/2024: EUR 63.6 million); solid equity ratio of 68.2% (31/12/2024: 67.7%) 7 Outlook 2025: Revenue between 8 EUR 100 million and EUR 105 million (2024: EUR 98.1 million), EBIT between EUR 12 million and EUR 15 million (2024: EUR 12.5 million) expected Dividend increase to EUR 0.27 per share (2023: EUR 0.25) Page 4 © Copyright Masterflex Group Growth in the aviation business - "Masterflex goes Morocco" Seite 5 Strategic expansion to increase capacity: New plant in Casablanca (Morocco) - MIDPARC free trade zone Investment volume: approx. EUR 3 million Start of production: 2026 on an area of 4,000 m² Complements existing plants in Germany and the Czech Republic Exploiting growth opportunities and location advantages: Doubling revenue in the aviation business due to dynamic high demand Continuing to optimize cost structures Benefiting from further location advantages: Investment-friendly environment Geographical proximity to Europe Direct neighborhood to well-known aviation companies © Copyright Masterflex Group Technological leap: entry into new materials, assembly, and automation technologies First series revenue expected from the end of 2026, with full ramp-up planned from 2027 New major project with planned additional revenue of EUR 5 million per annum in recurring revenue Strategic milestone: largest engineering and framework agreement in the Company's history Medium-term annual recurring revenue of up to EUR 10 million expected Strengthening market presence in key industries LIFE & TECH Seite 6 © Copyright Masterflex Group 02 | Key Figures HY/2025 in EUR million HY/2025 HY/2024 Change Revenue 53.4 51.6 3.4% EBITDA (operating) 10.6 10.1 5.3% EBIT (operating) 7.9 7.5 4.7% EBIT 7,8 7.4 5.4% Consolidated result 4.9 4.8 1.4% EPS (in EUR) 0.51 0.50 2.0% Masterflex continues growth at mid-year Revenue growth despite challenging economic conditions Operating EBIT margin further increased despite special effects: 14.7% (previous year: 14.6%). Increase in earnings thanks to favorable product mix and efficiency improvements in production and purchasing Cost of materials ratio (measured in terms of total output) at 27.6% (previous year: 29.6%) Higher personnel costs partially offset by productivity increases Page 8 © Copyright Masterflex Group Rising Group equity in the first half of 2025 56.7% 57.6% 61.5% 51.5% 54.1% 64.9 42.0 41.3 45.0 52.0 57.6 63.6 Group equity in EUR million and equity ratio 67.7% 68.2% 2019 2020 2021 2022 2023 2024 HY/2025 Group equity Equity ratio 0.81 0.50 0.51 0.26 0.07 0.34 0.25 0.08 0.08 0.12 0.20 0.27 Dividend/EPS 0.83 0.86 Group equity further increased Group equity increased to EUR 64.9 million as of 30/06/2025 due to the positive Group result (31/12/2024: EUR 63.6 million) Equity ratio higher at 68.2% (31/12/2024: 67.7%) Net debt nearly unchanged at EUR 9.1 million (31/12/2024: EUR 9.0 million) Earnings per share of EUR 0.51 (previous year: EUR 0.50) Dividend of EUR 0.27 per share (2023: EUR 0.25) 2019 2020 2021 2022 2023 2024 HY/2024 HY/2025 Dividend in EUR Earnings per Share in EUR Page 9 © Copyright Masterflex Group Masterflex share and analyst ratings Development of the share price from January 2024 to the beginning of August 2025 in EUR (on Xetra basis) 14 13 12 11 10 9 8 Jan-24 Feb- 24 Mar-24 Apr-24 May- 24 Jun- 24 Jul- 24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb- 25 Mar-25 Apr-25 May- 25 Jun- 25 Jul- 25 Aug-25 7 Analyst ratings Consensus expectations revenue in EUR million 111.7 103.0 124.0 2025e 2026e 2027e Consensus expectations EPS in EUR 1.43 1.09 0.92 2025e 2026e 2027e Shareholder structure Lazard Frères Gestion S.A.S. 5.04% BBC GmbH / Dr. Bastin, Becks 6.61% SVB GmbH & Co. KG / Schmidt family 9.96% Treasury shares 1.40% © Copyright Masterflex Group Free Float 34.95% Source: Bloomberg Source: Bloomberg Page 10 J.F. Müller & Sohn AG 22.03% Grondbach GmbH 20.01% Montega Research 01/07/2025 BUY - EUR 17.00 Metzler 24/06/2025 BUY - EUR 16.00 Bank M/ SMC-Research 27/06/2025 BUY - EUR 16.80 © Copyright Masterflex Group 03 | Outlook Outlook 2025 The economic environment is increasingly difficult to assess -Q1 and Q2 are strongly influenced by political, economic, and geopolitical uncertainties Further structural and market improvements through consistent implementation of the HERO@ZERO strategy, expansion of capacities in the aviation business Growth targeted in all customer industries - opportunities for overproportional growth in the medical technology and aviation sectors, as well as through strategic projects and innovations Page 12 Order backlog of EUR 20.1 million as of 30/06/2025 (31/12/2024: EUR 19.8 million) Revenue for 2025 expected between EUR 100 million to EUR 105 million (2024: EUR 98.1 million) EBIT expected in the range of EUR 12 million to EUR 15 million in 2025 (2024: EUR 12.5 million) © Copyright Masterflex Group What are our plans for 2025 and beyond? 1 2 3 4 Page 13 Capacity expansion for the aviation industry: Establishment of a low-cost country facility; revenue in aviation is expected to double by 2030; SOP in 2026, investment of approximately EUR 3.0 million Acquisition of new high-volume customer projects: We are currently working on several customer projects with high revenue potential; Planned implementation by the end of 2025/beginning of 2026 Multiple product innovations close to market launch: In-house innovations with high revenue potential are close to market readiness Inorganic growth: First M&A activities expected from Q3/2025; Strategic focus areas: Region: Europe/USA Industries: "Life" and specialized markets Strategic fit: vertical integration © Copyright Masterflex Group Medium-term outlook Growth to a revenue level of EUR 200 million with a sustained double-digit EBIT margin planned until 2030 Expanded product and service offerings in the area of circular economy planned on the basis of our digital hose ecosystem Ampius Further increase in profitability due to economies of scale and process automation Focus on megatrends such as green energy, semiconductors, life sciences - including medical technology and automation technology/robotics -as well as value-adding solutions to secure sustainable growth "The Company's operating phase ahead is marked by growth." Page 14 © Copyright Masterflex Group Thank you for your attention © Copyright Masterflex Group 04 | Appendix Masterflex at a glance Revenue EBITDA in EUR million 77.2 80.0 71.9 79.1 100.3 101.1 98.1 in EUR million 9.6 9.7 7.9 10.7 16.4 17.9 18.2 2018 2019 2020 2021 2022 2023 2024 EBIT (operating) EPS 2018 2019 2020 2021 2022 2023 2024 in EUR million 11.4 6.3 5.1 5.8 3.2 0.35 0.26 0.34 0.08 12.6 12.7 in EUR 0.81 0.83 0.86 2018 2019 2020 2021 2022 2023 2024 Page 17 2018 2019 2020 2021 2022 2023 2024 © Copyright Masterflex Group Financial calendar 2025 6 August Half-Year Report 2025 27 - 28 August HIT - Hamburg Investors Days 5 November Quarterly Statement 3/2025 Page 18 © Copyright Masterflex Group Masterflex SE Willy-Brandt-Allee 300 45891 Gelsenkirchen Germany https://www.masterflexgroup.com CROSS ALLIANCE communication GmbH Susan Hoffmeister Bahnhofstraße 98 82166 Gräfelfing/Munich https://www.crossalliance.de Tel +49 209 97077 0 Fax +49 209 97077 33 [email protected] Tel +89 125 09 03 33 [email protected] Page 19 © Copyright Masterflex Group