DGAP-News

Blue Cap AG with successful 2021 financial year

DGAP-News: Blue Cap AG / Key word(s): Preliminary Results/Annual Results Blue Cap AG with successful 2021 financial year 07.03.2022 / 07:14 The issuer is solely responsible for the content of this announcement. Group sales grow to 267.4 million euros based on preliminary calculations (previous year: 233 million euros) Adj. EBITDA improves disproportionately to revenue by 40 % to EUR 24.6 million; adj. EBITDA margin increases to 9.1 % (previous year: 7.6 %) Forecast for the 2022 financial year: revenue of 305-325 million euros and adj. EBITDA margin of 9-10 % Munich, 7 March 2022 - Blue Cap AG today published its preliminary pre-audit figures for the 2021 financial year. Despite a challenging environment, group sales increased by 15 % year-on-year to 267.4 million euros (previous year: 233 million euros) and is thus within the forecast revenue range of 265-270 million euros. The operating result (adjusted EBITDA) rose disproportionately to revenue to 24.6 million euros (+40 % compared to the previous year, PY: 17.6 million euros), which enabled Blue Cap to further improve its profitability. This corresponds to a margin of 9.1 % (PY: 7.6 %), marginally above the expected range of 8.5-9.0 %. The positive development of business operations is due in particular to the strong development in the plastics segment and to the acquisitions H+E and HY-LINE. The organic development of revenue and earnings was lower than estimated at the beginning of 2021 due to the worldwide supply bottlenecks. High levels of total investments, primarily driven by M&A activities, led to an increase in net debt in 2021. The net gearing ratio, defined as the ratio of net financial liabilities to adjusted EBITDA, is comfortably within the target range of below 3.5 years. With an equity ratio of 37 % (PY: 41 %), Blue Cap has a healthy net assets and financial position to finance further growth. Developments in the business segments The plastics segment performed strongly over the year as a whole. con-pearl posted a record order intake and was able to more than compensate for the effects of the chip crisis, which resulted in declining call orders from car manufacturers at H+E. Uniplast was well placed to pass on the massive raw material price increases to customers during the year, resulting in the company developing as planned despite the challenges.