EQS-News

KAP REACHES 2023 ADJUSTED GUIDANCE FORECAST AND PROJECTS SIGNIFICANTLY RISING EBITDA

EQS-News: KAP AG / Key word(s): Annual Report KAP REACHES 2023 ADJUSTED GUIDANCE FORECAST AND PROJECTS SIGNIFICANTLY RISING EBITDA 26.04.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. KAP REACHES 2023 ADJUSTED GUIDANCE FORECAST AND PROJECTS SIGNIFICANTLY RISING EBITDA

 

• Revenue of €316.7 million and normalised EBITDA of €15.6 million (adjusted for the companies sold in April 2023)
• Negative factors include supply chain issues and negative macroeconomic developments in the construction sector and the automotive sector
• Structural measures are starting to produce first noticeable results
• Guidance forecast for 2024: moderate increase in revenue, significant increase in normalised EBITDA

Fulda, 26 April 2024 – KAP AG (“KAP”), a listed, medium-sized industrial holding company, reached in the 2023 financial year its guidance forecast as adjusted in August in a difficult macroeconomic environment. While the Company is still not satisfied with the figures achieved, it is already seeing a positive trend reversal on individual core markets.

Overall, the still weak global economy, negative exceptional economic developments in key target markets such as the construction sector or the automotive industry as well as supply chain issues weighed on the Company in 2023. On a comparable basis – that is without the subsection of the flexible films segment sold in April 2023 – KAP generated revenue of €316.7 million in the 2023 financial year, down 12.1% (previous year: €360.1 million). Including the subsection sold, revenue amounted to €337.0 million, down 22.3% on 2022.

Normalised EBITDA came to €15.6 million (previous year: €23.5 million) and the respective margin was 4.9% (previous year: 6.5%) at the end of 2023, without the subsection of the flexible films segment sold in the reporting period. Including the subsection sold, normalised EBITDA was at €17.3 million, which represents a substantial decrease on the previous-year figure of €35.9 million. The normalised EBITDA margin came to 5.1% after 8.3% in the previous year. The consolidated loss after taxes totalled €-0.1 million, up on the previous-year figure of €-1.7 million.