KAP AG
KAP AG INCREASES REVENUE AND EARNINGS SIGNIFICANTLY IN THE FIRST HALF OF 2021
DGAP-News: KAP AG
/ Key word(s): Half Year Results
KAP AG INCREASES REVENUE AND EARNINGS SIGNIFICANTLY IN THE FIRST HALF OF 2021 Fulda, 24 September 2021 – KAP AG (“KAP”), a mid-sized industrial holding company listed on the stock exchange (WKN 620840, ISIN DE0006208408), looks back on a successful first half of 2021. In a significantly improved, but still highly volatile, market environment, the KAP Group generated revenue of €181.7 million (previous year: €161.8 million) in its continuing operations. Normalised EBITDA increased by 23.3% to €21.7 million (previous year: €17.6 million) with a normalised EBITDA margin of 11.9% (previous year: 10.9%), up 1.0 percentage points. In part, the improved profitability reflects the measures already implemented under the Accelerate programme. Eckehard Forberich, member and Spokesman of the Management Board of KAP AG: “We have honed our strategic alignment significantly since last year. Today, we are a focused, modern industrial holding company with a clear investment approach geared towards entrepreneurial-minded, mid-sized companies. It is particularly pleasing that the KAP Group continued to make progress on its strategic and operational improvement initiatives within the framework of the Accelerate programme over the first six months of the year, and did so consistently and faster than planned. The accelerated transformation processes in the segments are already leaving their mark and have significantly improved our profitability. We will to rigorously pursue this course further. In the first six months of the year, KAP AG’s segment companies benefited from a growing recovery in the automotive sector and strong growth in industrial production and the construction industry. The significant revival of customer demand boosted unit sales across all segments. Growth would have been even higher had it not been for the global supply chain problems and supply constraints caused by the COVID-19 crisis. On account of long-term agreements, the segment companies were unable to pass on price increases on the procurement side in full to customers. Despite these challenges, the KAP Group increased its operating profitability. The flexible films segment continued on its growth path in the first half of 2021, benefiting from its strong market position and the acquisition of extrusion specialist AerO Coated Fabrics. The segment companies achieved revenue growth of 32.2%, reaching €67.3 million (previous year: €50.9 million). EBITDA rose by 23.5% in the first six months of the year to €10.0 million (previous year: €8.1 million). In the surface technologies segment, revenue rose steeply by around 22% to €30.7 million (previous year: €25.2 million) following the sharp fall in demand in the automotive sector in the same period of the previous year as a result of the coronavirus pandemic. A stronger recovery was hindered by lower call-up levels owing to supply shortages as well as a fire-related interruption of operations since the fourth quarter of 2020 at a production site in the United States. Normalised EBITDA rose by 70.6% to €5.8 million (previous year: €3.4 million). The precision components segment achieved a 19.4% increase in revenue in the first half of the year to €22.2 million (previous year: €18.6 million), which is partly due to the accelerating recovery in the automotive sector. The aforementioned supply shortages and supply chain difficulties were also evident in this segment. Normalized EBITDA increased significantly to €1.8 million in the first half of 2021 (previous year €0.1 million), demonstrating the effectiveness of Accelerate’s efficiency improvement measures. The sale of the it/services segment was successfully completed with the disposal of the subsidiaries MEHLER Engineering Service GmbH, effective 1 January, and it-novum GmbH, effective 30 June 2021. As a result, KAP increased its financial leeway and sharpened its investment focus on industrial production companies. Accelerate: Rigorous implementation of improvement initiatives in the operating segments The half-year financial report can be downloaded from the company’s website at the following link. Contact: KAP AG About KAP AG
24.09.2021 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: | 1234688 |
End of News | DGAP News Service |