Blue Cap AG Releases Preliminary H1 2024 Figures Indicating Stability

Blue Cap AG has announced preliminary results for the first half of 2024, showing stable development in line with forecasts. The company reported half-year revenue of EUR 129.2 million, slightly below the previous year's EUR 145.4 million. However, the adjusted EBITDA margin rose to 8.4%, up from 7.9% in the previous year, continuing the positive trend seen in Q2, which recorded an 8.5% margin.

The management board has confirmed the annual forecast, anticipating consolidated revenues between EUR 270-290 million and an adjusted EBITDA margin of 8.5-9.5%. The net leverage ratio remains stable at 2.6 years. Segments such as Plastics and Adhesives & Coatings displayed strong performances, while the Business Services sector experienced a decline. Blue Cap attributes these results to customer restraint offset by successful transformation processes.

Overall, Blue Cap's portfolio showed varied development. The Plastics segment saw revenue increase to EUR 52.3 million, while the Adhesives & Coatings segment achieved improved profitability. In contrast, the Business Services segment fell short of previous results due to ongoing market conditions.

The full half-year report will be published at the end of August 2024.