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AGENDA
01
02
03
04
Overview
Key Figures HY/2025 Outlook
Appendix
Page 2
01 | Overview
Highlights of the first six months 2025
1Group revenue increased by 3.4% to
EUR 53.4 million (previous year:
EUR 51.6 million) in a challenging environment
2Operating EBIT despite special effects increased to EUR 7.9 million (previous year: EUR 7.5 million) - margin at 14.7% (previous year: 14.6%)
3Strategic milestones: Capacity expansion for the aviation business and conclusion of the largest engineering and framework agreement in the Company's history to date
4Order 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 6Increase 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%)
7Outlook 2025: Revenue between
8EUR 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)
Growth in the aviation business - "Masterflex goes Morocco"
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
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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
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
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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 equityEquity ratio0.81
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
Page 9
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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%
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Free Float 34.95%
Source: Bloomberg Source: Bloomberg
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
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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
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)
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What are our plans for 2025 and beyond?
1 2 3 4Capacity 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
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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
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Thank you for your attention
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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
2018 2019 2020 2021 2022 2023 2024
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Financial calendar 2025
6 August | Half-Year Report 2025 |
27 - 28 August | HIT - Hamburg Investors Days |
5 November | Quarterly Statement 3/2025 |
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
ir@masterflexgroup.com
Tel +89 125 09 03 33
sh@crossalliance.de
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