Brief: Masterflex Group Continues To Adhere To Its Medium-Term Forecast
13/05/2020 08:36
May 13 (Reuters) - Masterflex SE MZXG.DE :
* DGAP-NEWS: MASTERFLEX GROUP: WELL EQUIPPED FOR THE REST OF 2020 BASED ON A SOLID FIRST
QUARTER
* AT EUR 20.5 MILLION, ALMOST MAINTAINED Q1 REVENUE AT PREVIOUS YEAR'S LEVEL (EUR 21.1
MILLION)
* DESPITE A POSSIBLE SIGNIFICANT DECLINE IN REVENUE IN 2020 BECAUSE OF PANDEMIC, LIQUIDITY
IS
ENSURED FOR NEXT FEW QUARTERS EVEN IN THESE SCENARIOS
* EBIT MARGIN IN Q1 OF 2020 WAS 10.0%, COMPARED WITH 9.8% IN PRIOR-YEAR PERIOD
* Q1 OPERATING EBIT OF EUR 2.1 MILLION
* EXPECTS A DECLINE IN REVENUE OF BETWEEN 10% AND 15% FOR YEAR 2020.
* Q1 CONSOLIDATED RESULT IMPROVED SLIGHTLY FROM EUR 1.2 MILLION TO EUR 1.3 MILLION
* 2020 EBIT WILL BE BETWEEN EUR 2.5 MILLION AND EUR 1.0 MILLION AT GROUP LEVEL.
* CONTINUES TO ADHERE TO ITS MEDIUM-TERM FORECAST
* EXPECTS STRONGEST COVID 19 IMPACT ON ITS OWN BUSINESS DEVELOPMENT IN SECOND AND THIRD
QUARTERS
OF 2020
* AIMS TO ACHIEVE ORGANIC GROWTH TO EUR 100 MILLION IN REVENUE BY 2023/2024 AND A SUSTAINED
DOUBLE-DIGIT EBIT MARGIN FROM 2022 ONWARDS
* EXPECTS A GRADUAL IMPROVEMENT IN ENVIRONMENT ONLY IN THIRD OR PERHAPS EVEN Q4.
Source text for Eikon: ID:nEQ6lGWqja
Further company coverage: MZXG.DE
(Gdansk Newsroom)
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