DGAP-News: KAP AG
/ Key word(s): Half Year Report/Half Year Results
KAP AG WITH SOLID FIRST HALF OF 2022
Fulda, 30 August 2022 – KAP AG (“KAP”), a mid-sized industrial holding company listed on the stock exchange (WKN 620840; ISIN DE0006208408), again benefited from its high degree of diversification in the first half of 2022, achieving a significant increase in revenue despite a challenging market environment. Compared with the same period of the previous year, revenue increased by 28.4% from €181.7 million to €233.4 million. Excluding the revenue contribution of EUR 29.9 million from the Haogenplast acquisition, this corresponds to organic revenue growth of about 11.7%. At €23.1 million, normalised EBITDA was 7.2% higher than in the first six months of 2021 (€21.5 million). The normalised EBITDA margin decreased from 11.9% to 9.9%. This reflects the fact that significant increases in raw material prices and energy costs can usually only be passed on to customers with a time lag. Eckehard Forberich, member and Spokesman of the Management Board of KAP AG: “At present, the market environment is not without difficulty – we are also not completely immune to the worsening supply chain problems, tightening bottlenecks and higher raw material as well as energy prices. That makes me all the more proud of our figures for the first half of the year. The measures implemented as part of Accelerate and the segments’ diversified positioning have paid off, and we will continue to benefit from this even in the challenging months ahead.” In the first half of the year, the flexible films segment in particular accelerated its growth trajectory, mainly as a result of the acquisition completed in February of Haogenplast Ltd, a leading supplier of high-quality plastic products. Segment revenue rose from €67.3 million to €102.6 million, with Haogenplast accounting for €29.9 million. Normalised segment EBITDA increased from exactly €10 million to €14.4 million, while the normalised EBITDA margin decreased slightly from 14.8% to 14.1%. The engineered products segment also recorded a significant increase in revenue, from €60.0 million to €76.4 million. The segment’s normalised EBITDA increased from €5.0 million to €5.3 million, while the corresponding margin decreased from 8.3% to 7.0%, also due to higher costs for raw materials, freight and energy. The surface technologies and precision components segments, which are more focused on the automotive sector and are especially affected by the supply chain problems, likewise delivered a solid performance in a difficult environment. Surface technologies recorded a 6% increase in revenue to €32.5 million (previous year: €30.7 million). As a result of the sharp rise in the cost of materials and other cost increases, particularly for electricity and gas, which – as is customary in the industry – can only be passed on with a time lag and in some cases not in full, segment EBITDA fell from €5.8 million to €3.9 million and the margin narrowed from 18.9% to 12.0%. Revenue in the precision components segment remained unchanged at the previous year’s level of €22.2 million, while normalised EBITDA fell from €1.8 million to €0.7 million, strongly influenced by increases in raw materials prices and higher transport costs, which can likewise only be passed on to customers with a time lag. The normalised EBITDA margin decreased from 8.1% to 3.3%. Cash flows and financial position Management Board confirms business expectations for 2022 The half-year financial report can be downloaded from the Company’s website at the following link. Contact:
About KAP AG
30.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - 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: | 1430573 |
End of News | DGAP News Service |
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1430573 30.08.2022 CET/CEST
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