DGAP-News

Blue Cap AG with significant improvement in revenue and earnings in the 2021 financial year - dividend proposal of EUR 0.85 per share - Seite 2

Continued good balance sheet quality despite high levels of investment for the future

High levels of total investments, primarily driven by M&A activities and the forward-looking formation of working capital, led to an increase in net debt in 2021. The net debt ratio (including lease liabilities for the first time) is 2.6 years (PY: 2.3 years) and thus within the target range of less than 3.5 years.

Equity increased to EUR 98.2 million euros (PY: 80.3 million euros). The main drivers were the positive net income for the year and the capital increase of 10.8 million euros implemented in August 2021. With an equity ratio of 36.7% (PY: 40.5%), Blue Cap therefore has a healthy assets and financial position to finance further growth.

Profitable dynamic growth in the largest segment Plastics

The Plastics segment performed very well in the year as a whole and, as in the previous year, is the group's strongest segment (135.7 million euros, PY: 100.7 million euros). The significant increase is due, on the one hand, to the acquisition of the H+E group in the year under review. This has been included in the segment figures since the beginning of March 2021, although H+E's trend in sales was curbed by the reduced number of call orders from automotive manufacturers stemming from the chip crisis. The fact that con-pearl managed to report record incoming orders is also a sign of a hopeful future. Uniplast was well placed to pass on the massive raw material price increases to customers during the year, resulting in the company developing well despite the difficult economic climate. Overall, these positive trends resulted in an increase in the segment's adjusted EBITDA to 17.3 million euros (PY: 9.5 million euros).

Revenue for the Adhesives & Coatings segment rose moderately to 88.2 million euros (PY:85.2 million euros). Planatol managed to keep up its delivery capability throughout the year and thus meet the increased domestic demand. A contrary effect was the reduced order volume at Neschen both in the field of graphic applications and, in light of the chip shortage, in the field of industrial coatings. As a result, adjusted EBITDA decreased slightly to EUR 6.9 million (PY: 7.7 million euros).