EQS-News

KAP REACHES 2023 ADJUSTED GUIDANCE FORECAST AND PROJECTS SIGNIFICANTLY RISING EBITDA - Seite 3

In the engineered products segment, both revenue and normalised EBITDA fell significantly. Revenue decreased from €145.7 million in 2022 to €116.7 million and normalised EBITDA decreased from €9.2 million to €3.1 million. This is equivalent to a normalised EBITDA margin of 2.7% after 6.3% in the previous year. The decrease in the EBITDA margin is mainly attributable to the considerably lower level of revenue and the time lag in adjusting costs. Global economic developments, particularly in the automotive sector, additionally weighed on the second half of the year in particular. Added to this, a larger, high-margin customer contract had expired at the end of the previous year. In response to this development, extensive structural measures to make production leaner and more efficient and achieve a noticeable reduction in administrative functions at the headquarters in Fulda have already been implemented. In addition, comprehensive initiatives have been launched with the aim of optimising working capital management and the product portfolio.

The surface technologies segment increased its revenue in 2023 to €68.6 million, up 5.1% on 2022 (previous year: €65.3 million). Normalised EBITDA totalled €6.1 million at year-end (previous year: €6.8 million). The normalised EBITDA margin came to 8.9% in 2023 (previous year: 10.4%). This segment was able to pass on to the market only part of the rise in energy costs. As in the precision components segment, the weak global economy in the automotive sector also made itself felt here.

The precision components segment generated revenue of €53.4 million in the reporting period, up 17.1% year on year (previous year: €45.6 million). This positive performance was due in particular to the increased ability to pass on the rise in energy and raw materials costs to the segment’s customers as well as higher unit sales. Normalised EBITDA amounted to €2.1 million, which marks an improvement on the previous-year figure of €-0.1 million. The normalised EBITDA margin came to 3.9% in 2023 (previous year: -0.2%).