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KAP AG
Earnings Release • Aug 26, 2021
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Earnings Release
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Ad-hoc | 26 August 2021 15:03
KAP AG raises forecast for the 2021 financial year due to positive business development
KAP AG / Key word(s): Forecast/Change in Forecast
KAP AG raises forecast for the 2021 financial year due to positive business development
26-Aug-2021 / 15:03 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
KAP AG raises forecast for the 2021 financial year due to positive business development
Fulda, 26 August 2021 – Based on preliminary figures, KAP AG generated normalised EBITDA of €21.7 million in the first half of 2021. Compared to the same period of the previous year, this corresponds to an increase of 23.3 % (first half of 2020: €17.6 million), which at that time was characterised by significant effects of the COVID 19 pandemic. This increase was based on a growth in revenue of 12.3% to €181.7 million (first half of 2020: €161.8 million).
Against this background and the positive business development in the first half of 2021, which exceeds expectations, KAP AG is raising its forecast for the 2021 financial year. For the current financial year, the Executive Board now expects consolidated revenue of between €320 million and €350 million (previously: between €300 million and €330 million) and normalised EBITDA in a range of €32 million to €38 million (previously: €27 million to €33 million).
The reasons for this development are in particular the faster-than-expected recovery in our target markets, order intake in flexible films segment that is significantly above expectations, as well as faster implementation and effectiveness of measures within the scope of Project Accelerate. The forecast and previous year’s figures includes already the sale of it-novum GmbH and MEHLER Engineering und Service GmbH.
The new forecast is based on the assumption that the recovery of our target markets continues unchanged, no additional negative impacts on raw material prices and supply chains follow, e.g. for semiconductors, and that there are no further severe restrictions due to the Corona pandemic during the rest of the financial year.
The publication of the first half-year results will take place on 24 September 2021 as planned.
Explanations on the alternative performance measure normalised EBITDA used in this ad hoc announcement can be found in the Annual Report 2020 on page 40 which is available under https://www.kap.de/en/investor-relations/reports-amp-presentations/financial-reports.
The Executive Board
Notifying Person und Investor Relations
Kai Knitter
Head of Investor Relations & Corporate Communications
+49 (0) 661 103 327
26-Aug-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | KAP AG |
| Edelzeller Straße 44 | |
| 36043 Fulda | |
| Germany | |
| Phone: | 06611030 |
| Fax: | 0661103830 |
| E-mail: | [email protected] |
| Internet: | www.kap.de |
| ISIN: | DE0006208408 |
| WKN: | 620840 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1229106 |
| End of Announcement | DGAP News Service |