DGAP-News

KAP AG CONFIRMS ANNUAL FORECAST FOR 2022 FOLLOWING ROBUST BUSINESS DEVELOPMENT IN THE FIRST QUARTER - Seite 2

Eckehard Forberich, member and Spokesman of the Management Board of KAP AG: “The robust business development shows that, with our diversified segment portfolio and successful M&A approach, we can grow even in a volatile and uncertain market environment. The successful acquisition of vinyl specialist Haogenplast was a further important step.”

Heterogeneous development of the segments in terms of revenue and earnings
In the 2022 financial year, the flexible films segment continued the strong growth trend of the previous year, again reaching new record revenue in the first quarter. Overall, the segment generated revenue growth of 53.6% to €48.7 million (previous year: €31.7 million), of which €13.7 million is attributable to the Haogenplast acquisition. Normalised EBITDA rose by 39.3% to €6.7 million (previous year: €4.8 million).

Revenue in the engineered products segment increased by 26.3% to €38.1 million (previous year: €30.2 million). Normalised EBITDA decreased slightly to €2.5 million (previous year: €2.9 million), due to higher costs for raw materials, freight and energy.

Despite supply chain problems in the automotive sector, the surface technologies segment remained relatively stable with a slight decline in revenue of 0.7% to €15.7 million (previous year: €15.8 million). However, normalised EBITDA fell to €1.5 million (previous year: €3.3 million) on account of higher chemicals and energy costs.

In the precision components segment, revenue decreased by 8.3% to €10.9 million (previous year: €11.9 million), while normalised EBITDA dropped significantly to €0.6 million (previous year: €1.3 million). Both the supply chain and semiconductor problems on the customer side and the significant price increases on the purchasing side, which can only be passed on with a time lag, are having a negative impact on the precision components segment.

Forecast for the 2022 financial year confirmed
We continue to assume that the KAP Group’s business development in the 2022 financial year will be influenced noticeably by the dynamic market environment and significant supply chain disruptions. Due to our diversified investment model and the strong market positioning of our segments, we continue to expect revenue to increase significantly and operating result slightly year on year. The overall assessment already takes into account foreseeable risks arising from the Russia-Ukraine conflict, insofar as these could already be concretely assessed at the time the quarterly report was finalised.