KAP AG Reports Robust Performance in H1 2024 Despite Revenue Decline

KAP AG, a mid-sized industrial holding company, delivered a solid performance in the first half of 2024 amidst challenging conditions. While revenue fell by 6.9% to €168.4 million compared to the previous year's €180.9 million, normalised EBITDA rose by 15.5% to €16.4 million, indicating efficiency gains from recent structural measures.

The company observed pent-up demand impacts in early 2023, and a return to normalcy in demand submarkets in early 2024. Flexible films showed positive revenue development, while other segments suffered weak automotive demand.

The second quarter showcased these improvements with a 3.0% revenue increase to €85.3 million and a 75.6% rise in normalised EBITDA to €7.9 million. Profitability increased notably in the engineered products and flexible films segments, driven by focused efficiency measures and strategic disposals.

Guidance for full year 2024 confirms expectations of moderate revenue growth and significant EBITDA improvement despite a challenging market. The detailed half-year report is available on KAP AG's website.