Masterflex SE: Strong foothold in Medical Technology provides stability in difficult economic environment due to impact of coronavirus pandemic
"We are well positioned" - Interview with CEO Dr. Andreas Bastin
- Special status requested for production areas important for the medical and pharmaceutical industry
- Global positioning supports the most stable sales development possible
Gelsenkirchen, 19 March 2020 - "I am very pleased that we have been able to drive forward product diversification in the Masterflex Group so successfully in recent years. Over the past ten years, we have been able to increase Group revenue by 100% and revenue from products for the medical industry by more than 200%. As a result, medical technology revenue now accounts for almost one fifth of our total business. This strong pillar will be an important support for us in coping with the effects of the coronavirus pandemic," said Dr. Andreas Bastin, CEO of the Masterflex Group, in today's interview with the editorial team of "MFG Connect", the employee app of the Masterflex Group.
The Masterflex Group is a supplier of hose systems for respiratory and laboratory equipment and anaesthesia solutions, for example. In 2019, the Medical Technology segment generated around 17% of consolidated revenue of EUR 80.0 million. Revenue in the laboratory and pharmaceutical industry was also added to this figure. Masterflex has currently applied for special status for the Group's production areas and companies that are important for the medical and pharmaceutical industry. This helps to obtain government support in certain areas so that Masterflex employees can be available to the greatest extent possible. It is also intended to cushion the impact of an overall quarantine order by the responsible health authorities in the event of any employee infections identified in one of the Group's plants.
Due to its own activities in China, Masterflex came into indirect contact with the effects of the coronavirus pandemic at an early stage and can now also use this experience in Germany and at its other international locations. "As things stand today, I can tell you that Masterflex Asia is back to normal and is already making up for initial catch-up effects. In North America, we are apparently still a little ahead of the current standstill, which is approaching in Europe. The staggered timing will help us to better weather the crisis as a whole. It is also becoming apparent that the internationalization we have been pushing ahead with over the past eight years, especially in Asia and North America, is leading to a delayed impact of the pandemic. In summary, this means that strategically and structurally - both in terms of our customer industries and with regard to our regional sales markets - we are really well positioned and as crisis-proof as possible. With regard to the Masterflex Group, this is very reassuring in an otherwise very worrying overall situation," said Dr. Bastin later in the interview.
What Dr. Andreas Bastin, CEO of the Masterflex Group, has to say about the handling of the coronavirus pandemic, the extensive share purchase by management, the current share price development and the status of the B2DD optimisation programme can be read in the full interview on
https://www.masterflexgroup.com/index.php?id=1772&L=1
Masterflex Group specializes in the development and production of high-quality hose and connection systems. With 14 operating units in Europe, America and Asia, the Group maintains a nearly global presence. Its growth drivers are internationalization, innovation, operational excellence and digitization. Masterflex shares (German Securities ID: 549293) have been admitted for trading in Deutsche Börse's Prime Standard segment since 2000.
Contact: Frank Ostermair/Linh Chung, Better Orange IR & HV AG, Phone: 49 89 88 96 906 14, E-mail: frank.ostermair@better-orange.de
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