KAP AG

IUR

Equity

ISIN DE0006208408 / Valor 337430

Xetra (2024-12-11)

EUR 9.95%

KAP AG
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About company

KAP AG is a listed industrial holding company that specializes in upper mid-size operating companies, with a workforce of approximately 2,700 employees. The company's strategy is to target attractive market niches with growth potential, focusing on establishing and developing high-margin industrial segments into specialized market leaders. KAP AG operates in four distinct segments: engineered products, flexible films, surface technologies, and precision components. In addition to organic growth, the company also pursues selective acquisitions that add value to its segments. As a medium-sized industrial group, KAP AG exclusively targets medium-sized companies and positions itself as a reliable partner for entrepreneurs. The company combines long-term thinking with modern management practices, leveraging its access to financing and global markets to drive growth and success.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Revenue Decline

In the first half of 2023, KAP AG reported a revenue decrease of 12.3%, totaling €201.2 million. This decline is partly due to the sale of a subsection of the flexible films segment in April 2023. Excluding the revenue from the divested entities, the adjusted revenue for the first half of 2023 was €180.9 million, marking a decrease of 5.8% compared to the previous year.

EBITDA Performance

KAP AG's normalized EBITDA for the first half of 2023 fell by 31.2% to €15.9 million, resulting in a normalized EBITDA margin of 7.8%. When considering the figures excluding the divested entities, normalized EBITDA saw a smaller decrease of 17.3% to €14.3 million, reflecting the ongoing challenges in operational efficiency and market conditions.

Strategic Divestitures

During the reporting period, KAP AG completed the sale of a subsection of its flexible films segment. This strategic move was aimed at optimizing the portfolio and improving the strategic positioning of remaining operations. The divestiture provided KAP AG with additional financial headroom to support further investments and enhance the market position of its core segments.

Market and Economic Outlook

Following a challenging second quarter, KAP AG adjusted its full-year guidance in August 2023, anticipating continued economic difficulties. The company now expects significantly lower revenue and normalized EBITDA for the full year 2023, with anticipated declines in the low double-digit percentage range compared to previous forecasts of slight year-on-year improvements.

Operational Adjustments

KAP AG is implementing various measures to improve efficiency and effectiveness across its operations. These adjustments include changes to personnel and capacities, particularly in response to the economic downturn experienced in the second quarter of 2023 and the subdued economic recovery expected post-summer.

Summarized from source with an LLMView Source

Key figures

-29.9%1Y

-52.2%3Y

-40.8%5Y

Performance

37.2%1Y

36.8%3Y

45.0%5Y

Volatility