KAP AG
KAP AG MAKES GOOD START TO THE YEAR – REVENUE AND NORMALISED EBITDA UP IN THE FIRST QUARTER OF 2023
EQS-News: KAP AG
/ Key word(s): Quarterly / Interim Statement/Quarter Results
KAP AG MAKES GOOD START TO THE YEAR – REVENUE AND NORMALISED EBITDA UP IN THE FIRST QUARTER OF 2023
Fulda, 25 May 2023 – KAP AG (“KAP”), a listed, mid-sized industrial holding company, made a good start to the 2023 financial year. At €113.3 million, revenue from continuing operations in the first quarter increased by 3.7% on the previous year’s figure of €109.3 million (after minor adjustment of the previous year’s figure for consolidation-related reasons). Although some target markets – particularly the construction sector – struggled with interest rate increases and hesitant demand, other markets were positively affected by easing negative effects on global supply chains. Earnings before interest, taxes, depreciation and amortisation (EBITDA) decreased from €10.5 million to €9.5 million. Adjusted for factors not relevant for operations, particularly relating to the start-up of the new production site in Jasper, Alabama, totalling a net amount of €2.1 million, normalised EBITDA increased by 7.4% to €11.6 million (previous year: €10.8 million). Accordingly, the margin based on normalised EBITDA was 10.2% (previous year: 9.9%), thus returning above the minimum target margin of 10%. Eckehard Forberich, member and Spokesman of the Management Board of KAP AG: “We had a very lively start to the new year, and we are already starting to reap the rewards of our focus on efficiency and margin announced for the year as a whole. That said, we won’t ease up, but rather continue as we have been over the coming months to work on becoming even more efficient as we seek to generate sustainable added value for our shareholders.” Higher financial flexibility through honing the strategy in the flexible films segment Heterogeneous development of the segments with respect to revenue and earnings In the engineered products segment, revenue decreased to €36.1 million from €38.1 million in the first quarter of 2022, among other things due to a larger customer order that was completed at the end of 2022. Despite completion of this high-margin order, it was possible to raise normalised EBITDA slightly to €2.6 million due to a higher-value product mix (previous year: €2.5 million). The two segments surface technologies and precision components that offer products also for the automotive sector, each achieved significant double-digit percentage increases in both revenue and EBITDA. This was attributable not only to price adjustments but also to growth in unit sales and to the result of consistently implemented efficiency improvements. In the surface technologies segment, revenue rose significantly from €15.7 million in the first quarter of 2022 to now €19.0 million. The segment was also able to increase its normalised EBITDA significantly: from €1.5 million to currently €2.4 million. Developments in the precision components segment were similarly positive. Revenue reached €15.1 million in the first quarter of 2023 (previous year: €10.9 million); normalised EBITDA rose to €1.3 million (previous year: €0.6 million). Guidance forecast for the 2023 financial year confirmed The complete interim report for the first quarter of 2023 can be downloaded from this link. Contact:
About KAP AG [1] Excluding the entities sold on 21 April 2023, in the previous year, revenue amounted to €360.1 million and normalised EBITDA to €23.5 million.
25.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG. |
Language: | English |
Company: | KAP AG |
Edelzeller Straße 44 | |
36043 Fulda | |
Germany | |
Phone: | 06611030 |
Fax: | 0661103830 |
E-mail: | office@kap.de |
Internet: | www.kap.de |
ISIN: | DE0006208408 |
WKN: | 620840 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1639821 |
End of News | EQS News Service |