EQS-News: Masterflex increases revenue and earnings in the first half of 2026 – profitability further improved despite start-up investments – guidance confirmed

Masterflex increases revenue and earnings in the first half of 2026 – profitability further improved despite start-up investments – guidance confirmed

• Group revenue increased by 1.7% to EUR 54.3 million despite a challenging environment (previous year: EUR 53.4 million)
• Operating Group EBIT increased to EUR 8.0 million (previous year: EUR 7.9 million)
• Operating EBIT margin improved to 14.8% (previous year: 14.7%)
• Order backlog expanded to EUR 21.8 million as of June 30, 2026 (31 December 2025: EUR 19.8 million)
• 2026 guidance confirmed: revenue expected between EUR 103 million and EUR 108 million (2025: EUR 102.6 million), EBIT between EUR 13 million and EUR 16 million (2025: EUR 13.7 million)

Gelsenkirchen, Germany, 12 August 2026 – Masterflex SE (ISIN: DE0005492938) delivered a successful performance in the first half of 2026 in a geopolitical and macroeconomic environment that remains challenging. The specialist for sophisticated hose and connection systems once again increased revenue and earnings and was able to further improve profitability despite targeted start-up investments for the international capacity expansion in Morocco. This development underlines the resilience of the business model as well as the company’s consistent focus on high-margin products, operational excellence, and sustainable growth.

“Life” as key growth driver
Group revenue increased by 1.7% to EUR 54.3 million in the first half of 2026 (previous year: EUR 53.4 million). The key growth driver was the target industry group “Life,” which recorded significant growth particularly in the medical technology and food industry end markets. The target industry groups “Tech” and “Infrastructure,” by contrast, saw a slight decline.

The target industry group “Mobility” presented a mixed picture. The OEM business in aviation continued its positive trend, driven in particular by existing customer relationships. In the airport infrastructure business, by contrast, project-related delays led to temporarily weaker revenue development. The shipping and rail sectors (“Sea & Rail”) continued to be characterized by subdued demand.

Regionally, business in Germany continued to develop favorably, driven in particular by the positive development in medical technology. Business in the rest of Europe was slightly below the prior-year level, while business in Asia closed above the comparable period. Development in the Americas was mainly affected by negative currency effects.

Earnings quality improved further
On the earnings side, the Masterflex Group continued its positive development. Operating EBITDA increased by 2.4% to EUR 10.9 million (previous year: EUR 10.6 million). Operating EBIT rose by 1.9% to EUR 8.0 million (previous year: EUR 7.9 million). The operating EBIT margin improved to 14.8% (previous year: 14.7%). Key drivers were volume-related revenue growth, an improved cost of materials ratio resulting from consistent purchasing and efficiency measures, and lower other operating expenses. These effects were partially offset by, as expected, higher personnel expenses due to the workforce build-up at the new site in Morocco, Inflation effects, and the insourcing of IT services previously procured externally.

Consolidated net income attributable to shareholders of Masterflex SE increased by 7.7% to EUR 5.3 million (previous year: EUR 4.9 million). Earnings per share rose accordingly to EUR 0.55, up from EUR 0.51 in the prior-year period.

Solid balance sheet and order situation
The Masterflex Group's balance sheet remains very solid. Group equity increased to EUR 71.9 million as a result of the positive half-year earnings (31 December 2025: EUR 69.0 million). The equity ratio remained unchanged at a high level of 73.3%. Net debt amounted to EUR 4.3 million as of 30 June 2026 (31 December 2025: EUR 2.7 million). The increase mainly resulted from lower cash and cash equivalents following higher investment activity and the dividend payout, while financial liabilities were slightly reduced. With a gearing ratio (net debt/operating EBITDA LTM) of around 0.2 (31 December 2025: 0.1), the company continues to maintain a very comfortable financing structure.

The order backlog increased to EUR 21.8 million as of 30 June 2026, exceeding both the level at year-end 2025 (EUR 19.8 million) and the level at the end of the first quarter of 2026 (EUR 21.3 million). This underlines the continued solid demand base despite the challenging market environment.

Investments create the basis for further growth
The increased investment activity was reflected in cash flow from investing activities, which amounted to EUR -3.3 million (previous year: EUR -1.3 million) and was primarily driven by investments in the construction of the new production facility in Morocco. Cash and cash equivalents decreased to EUR 10.2 million at the end of the first half (31 December 2025: EUR 12.4 million). In addition to growth-related investments, key factors were the dividend payout for the 2025 financial year and further payments related to financing activities, in particular interest and lease liabilities. Notwithstanding this, the Masterflex Group continues to maintain a very solid liquidity position.

2026 guidance confirmed
Against the backdrop of the positive business development and the continued solid order situation, the Management Board confirms its guidance for the 2026 financial year. Despite unchanged geopolitical, trade, and economic policy uncertainties, the company continues to expect revenue of between EUR 103 million and EUR 108 million (2025: EUR 102.6 million) and EBIT in a range of EUR 13 million to EUR 16 million (2025: EUR 13.7 million).

For the remainder of the year, the Masterflex Group expects additional momentum from the implementation of its strategic growth initiatives. These include the first deliveries under the engineering and framework agreement announced in June 2025, as well as the planned ramp-up of the new aviation production facility in Morocco. Both projects will initially be characterized by start-up costs and will weigh slightly on earnings development in the 2026 financial year. Nevertheless, the Management Board expects to keep the operating EBIT margin stable for the full year.

Dr. Andreas Bastin, CEO of the Masterflex Group: “Our performance in the first half of the year shows that we can grow profitably even under challenging conditions. We are particularly pleased that, despite targeted investments in our international capacity expansion, we were able to further increase both our profitability and our consolidated net income. With our strong balance sheet, stable demand, and ongoing investments in the future, we believe we are well positioned to achieve our targets for the year.”

Selected Group key figures

in EUR thousand	6M 2026*	6M 2025*	Change
Consolidated revenue	54,288	53,372	1.7%
EBITDA (operating)	10,863	10,605	2.4%
EBIT (operating)	8,012	7,863	1.9%
EBIT	7,854	7,817	0.5%
EBT (operating)	7,620	7,352	3.6%
Consolidated net income (attributable to shareholders of Masterflex SE)	5,287	4,910	7.7%
Consolidated earnings per share (EUR)	0.55	0.51	7.8%
EBIT margin (operating)	14.8%	14.7%
Net return on revenue	9.7%	9.2%
Employees (number)	610	601	1.5%
in EUR thousand	30.06.2026*	31.12.2025	Change
Consolidated equity	71,885	69,015	4.2%
Consolidated total assets	98,078	94,175	4.1%
Consolidated equity ratio	73.3%	73.3%

*unaudited

Half-Year Report
The half-year report as of 30 June 2026 has been published at www.masterflexgroup.com/investor-relations/financial-reports-of-masterflex-se/

Webcast
A webcast for members of the press, analysts, and institutional investors will take place today, 12 August 2026, at 10:00 a.m. CEST. The investor presentation on the first-half 2026 business figures is available for download at www.masterflexgroup.com/investor-relations/financial-reports-of-masterflex-se/

To register for the webcast, please sign up at the following link:

Masterflex SE – Earnings Call H1 2026

In addition, CFO Mark Becks of Masterflex SE will present at the Hamburg Investor Days on 26 August 2026. To participate in the livestream of the group presentation at 2:20 pm, please register here.

Invitation link Group presentation 16th Hamburg Investor Days

About Masterflex SE:
The Masterflex Group specializes in the development and manufacture of sophisticated connection and hose systems. With 14 operating units in Europe, America and Asia, the Group is represented almost worldwide. Growth drivers are internationalization, innovation, operational excellence and digitalization. Masterflex shares (GSIN: 549293, ISIN: DE0005492938) have been listed in the Prime Standard of the German Stock Exchange since 2000.

IR Contact:
Susan Hoffmeister
Investor Relations
Tel.: +49 89 125 09 03 33
sh@crossalliance.de
www.crossalliance.de