KAP AG: ADJUSTMENT OF GUIDANCE FOR FISCAL YEAR 2023
August 21, 2023 at 12:03 pm
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EQS-Ad-hoc: KAP AG / Key word(s): Change in Forecast
KAP AG: ADJUSTMENT OF GUIDANCE FOR FISCAL YEAR 2023
21-Aug-2023 / 18:01 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
KAP AG: ADJUSTMENT OF GUIDANCE FOR FISCAL YEAR 2023
Fulda, 21 August 2023 –KAP AG („KAP“), listed, mid-sized industrial holding company (German securities identification number WKN 620840, ISIN DE0006208408) has today adjusted its guidance for revenue and normalised EBITDA for the full year 2023 based on current information for the second half of 2023.
Accordingly, significantly lower revenue and significantly lower normalised EBITDA are now predicted for the full year 2023, each with an anticipated year-on-year deviation in the low double-digit percentage range. Previously, revenue and normalised EBITDA were expected to be slightly above the previous year. In the previous year, excluding the divested companies of the flexible films segment, revenue of €360.1 million and normalised EBITDA of €23.5 million were generated.
The main reason for the adjustment is that KAP no longer expects the economy to recover quickly after the summer break, as previously expected, following a weak second quarter of 2023. The economy is expected to remain at the current low level or to develop more sluggishly. This applies in particular to the markets relevant for KAP.
The Management Board
Notifying officer and investor relations contact
Kai Knitter
Head of Investor Relations & Corporate Communications
investorrelations@kap.de
+49 (0) 661 103 327
End of Inside Information
21-Aug-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
Language:
English
Company:
KAP AG
Edelzeller Straße 44
36043 Fulda
Germany
Phone:
06611030
Fax:
0661103830
E-mail:
office@kap.de
Internet:
www.kap.de
ISIN:
DE0006208408
WKN:
620840
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
Kap AG, formerly KAP Beteiligungs AG, is a Germany-based industrial holding company. The Company invests in small and medium companies in need of a new ownership structure, with focus on segments, such as engineered products, flexible films, precision components, surface technologies, as well as information technology (IT) and services. Engineered products segment offers technical threads and scrims for products, such as tires, fire retardants and medical solutions. Flexible films segment manufactures films for application in medical products, packaging and construction, among others. Precision components segment provides products, such as gears and drives, for the automotive and machining industry. Surface technologies segment provides electroplating and other metal finishing solutions. In the IT/services segment, Kap AG invests in business providing big data, data analytics and industry 4.0 solutions. Its portfolio companies have production and sales locations in various countries.