EQS-News

Blue Cap AG achieves EBITDA margin (adj.) of 8.5% in 2023 and announces outlook for 2024

EQS-News: Blue Cap AG / Key word(s): Preliminary Results Blue Cap AG achieves EBITDA margin (adj.) of 8.5% in 2023 and announces outlook for 2024 13.03.2024 / 07:09 CET/CEST The issuer is solely responsible for the content of this announcement. Group revenue of EUR 273.3 million in line with guidance Adjusted EBITDA of EUR 23.2 million results in an adjusted EBITDA margin of 8.5 % Fourth quarter was characterized by increasing momentum and positive effects from turnaround measures Earnings expected to increase in 2024 with slight growth in revenue Munich, March 13, 2024 - According to preliminary and unaudited calculations, Blue Cap AG ("Blue Cap") can look back on a financial year 2023 with solid results. In a challenging economic environment, consolidated revenue (1) amounted to EUR 273.3 million (-6% compared to previous year: EUR 291.3 million). This was within the expected revenue range of EUR 265-285 million. The operating result (adjusted EBITDA(2)) amounted to EUR 23.2 million (-16% compared to the previous year: EUR 27.5 million). At 8.5% (previous year: 9.3%), the adjusted EBITDA margin reached the upper end of the forecast range adjusted in January 2024 (8.3-8.5%). Group Overall, the 2023 financial year was characterized by considerable economic uncertainty, which led to great reluctance on the part of industrial customers and thus to reduced revenues. The recovery originally expected for the second half of 2023 did not materialize. In the fourth quarter of 2023, however, the Group saw an upturn in momentum thanks to improved revenues and positive effects from implemented turnaround measures. The companies in the Plastics segment successfully negotiated compensation payments with some customers due to reduced purchases. In the fourth quarter, the Group achieved revenues of EUR 64.3 million (previous year: EUR 68.4 million) and an adjusted EBITDA of EUR 7.3 million (previous year: EUR 3.9 million), which was reflected in a margin of 11.6% (previous year: 5.8%).