Blue Cap AG Announces Strong First Quarter of 2024 Amid Economic Challenges

MUNICH – Blue Cap AG, in their recent financial disclosure, reported an uplifting 21% increase in Adjusted EBITDA for the first quarter of 2024 reaching EUR 5.8 million. This improvement, up from EUR 4.8 million in the prior year, surpassed expectations despite a forecasted decline in group revenue to EUR 66.5 million from EUR 75.8 million.

The company outlined significant strides in operational efficiency and successful restructurings, particularly in the Adhesives & Coatings segment led by a turnaround at Neschen, resulting in an Adjusted EBITDA leap from EUR 0.1 million to EUR 2.5 million. The management remains optimistic about meeting the 2024 full-year forecast, projecting revenues between EUR 270 to 290 million with an Adjusted EBITDA margin of 8.5% to 9.5%.

Despite mixed results across various segments, with a notable decline in the Business Services sector, the overall financial health of Blue Cap AG appeared resilient. Shareholding and investment activities also showed promising movements, especially in the Plastics segment which saw a 6% increase in revenue and even more substantial growth in profits by 29%.