DGAP-News: Blue Cap AG with successful 2021 financial year

• Group sales grow to 267.4 million euros based on preliminary calculations (previous year: 233 million euros)
• Adj. EBITDA improves disproportionately to revenue by 40 % to EUR 24.6 million; adj. EBITDA margin increases to 9.1 % (previous year: 7.6 %)
• Forecast for the 2022 financial year: revenue of 305-325 million euros and adj. EBITDA margin of 9-10 %

Munich, 7 March 2022 - Blue Cap AG today published its preliminary pre-audit figures for the 2021 financial year. Despite a challenging environment, group sales increased by 15 % year-on-year to 267.4 million euros (previous year: 233 million euros) and is thus within the forecast revenue range of 265-270 million euros. The operating result (adjusted EBITDA) rose disproportionately to revenue to 24.6 million euros (+40 % compared to the previous year, PY: 17.6 million euros), which enabled Blue Cap to further improve its profitability. This corresponds to a margin of 9.1 % (PY: 7.6 %), marginally above the expected range of 8.5-9.0 %. The positive development of business operations is due in particular to the strong development in the plastics segment and to the acquisitions H+E and HY-LINE. The organic development of revenue and earnings was lower than estimated at the beginning of 2021 due to the worldwide supply bottlenecks.

High levels of total investments, primarily driven by M&A activities, led to an increase in net debt in 2021. The net gearing ratio, defined as the ratio of net financial liabilities to adjusted EBITDA, is comfortably within the target range of below 3.5 years. With an equity ratio of 37 % (PY: 41 %), Blue Cap has a healthy net assets and financial position to finance further growth.

Developments in the business segments

The plastics segment performed strongly over the year as a whole. con-pearl posted a record order intake and was able to more than compensate for the effects of the chip crisis, which resulted in declining call orders from car manufacturers at H+E. Uniplast was well placed to pass on the massive raw material price increases to customers during the year, resulting in the company developing as planned despite the challenges.

The coating technology company Neschen suffered from a reduced order volume, which was reflected both in the field of graphic applications and, in light of the chip shortage, in the field of industrial coatings. Planatol managed to keep up its delivery capability throughout the year and thus meet the increased domestic demand.

At HY-LINE, which was acquired in September 2021, the shortage of semiconductors and bottlenecks in other upstream products led to a decline in revenue and earnings. Due to a record order intake and an easing in global supply chains, high levels of deliveries were reported at the end of 2021.

Project delays and postponements affected nokra's development of its business operations. However, there was a strong order intake in the second half of 2021, the processing of which was already having an impact in the fourth quarter.

Outlook

Last week, on 2 March 2022, the Management Board of Blue Cap AG raised its forecast for the current financial year in light of the acquisition of Transline Gruppe GmbH. It now expects revenues of around 305-325 million euros (previously: 290-310 million euros) and an adjusted EBITDA margin of 9-10 % (previously: 8.5-9.5 %). The revenue and earnings forecast does not take account of M&A transactions and is subject to possible persistent effects of the coronavirus pandemic. Furthermore, the repercussions of the Russia-Ukraine war have not yet been definitively assessed and may subsequently alter the forecast. Direct transactions in the group with Russia account for well below 1 % of group sales, and the possible indirect impact on e.g. raw material procurement or supply chains is still unclear.

The key figures disclosed in this press release are preliminary and prior to auditing. The annual report 2021 including the audited figures and further details as well as a dividend proposal will be published at the end of April.

To coincide with the publication of the preliminary figures, a conference call with the Management Board of Blue Cap AG will take place at 2:00 pm today. You can register under this link. The corresponding presentation can be found under Presentations - Blue Cap (blue-cap.de).

About Blue Cap AG

Blue Cap AG is a capital market-listed investment company founded in 2006 and headquartered in Munich. The company invests in medium-sized companies in the areas of production, trade and services of, with and for industrially manufactured physical goods. These are headquartered in the DACH region, typically generate revenue of between 30 and 80 million euros and have an intact core business. Blue Cap holds mostly majority stakes in nine companies in the adhesives technology & coating technology, plastics technology, production technology, medical technology and business services sectors. The companies in the Blue Cap Group develop independently and each pursue their own growth strategies. The group currently employs around 1,300 people in Germany and other European countries. Blue Cap AG is listed on the over-the-counter market (Scale, Frankfurt and m:access, Munich; ISIN: DE000A0JM2M1; stock exchange symbol: B7E). www.blue-cap.de

Contact: Blue Cap AG, Lisa Marie Schraml, Investor Relations & Corporate Communications, Tel. +49 89 288909-24; lschraml@blue-cap.de