April 19, 2017 / 6:54 AM / 16 days ago

BRIEF-Masterflex Group Continues To Adhere To Its Medium-Term Forecast

May 13 (Reuters) - Masterflex SE:

* 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: Further company coverage: (Gdansk Newsroom)

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