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DGAP-News: KAP AG / Keyword(s): Six-month effects 21. 09. 2020 / 16:13 The issuer is for the content of this ad only.
CAP WITH SOLID COMMERCIAL DEVELOPMENT IN THE FIRST HALF OF THE YEAR DESPITE COVID-19 POSITIONS – PERSPECTIVES FOR THE 2020 EXECUTIVE BOARD SUBSTANCES
Fulda, 21 September 2020 – The first component of fiscal year 2020 was complicated for KAP AG, a medium-sized, publicly traded company. This was due in one component to the progression of the business componently in the current quarter compared to last year due to the COVID-19 Pandemic, on the other hand, the diversified investment portfolio was able to cushion the impact. Revenues decreased by 14. 6% to EUR 170. 3 million in the first component (last year: EUR 199. 5 million). Adjusted profit before interest, taxes, depreciation and amortization (“adjusted EBITDA”) decreased to 17. 6 million euros and 0. 8 million euros less than last year (18. 4 million euros). Highest adjusted EBITDA margin through percentage emissions from 1. 6 to 10. 8% (last year: 9. 2%). EBITDA higher by 8. 3% to 18. 3 million euros (last year: 16. 9 million euros).
In the first part of the year, steps were taken to lower staff prices early in reaction to the COVID-19 pandemic, including transient closures of production plants in Germany, China, India, Hungary, Poland, Portugal and the United States. The United States, as well as short-term paintings at various sites in Germany and a site in Sweden. In order to protect painters and curb the spread of COVID-19, the Group’s giant portion painters painted from their homes when possible. Staff were educated to minimize the threat of infection. To date, only 6 KAP paintrs have been inflamed with COVID-19.
“The COVID-19 pandemic raised first-demand situations in the first part of 2020, but thanks to our diversified sectoral strategy we were able to generate a turnover of around 170 million euros and, in fact, especially our operational profitability. We will continue to monitor the progress of the pandemic closely. We remain committed to our long-term goals and therefore create situations for sustainable business success,” said Eckehard Forberich, spokesperson for the EXECUTIVE Committee of KAP AG.
Maximum automotive segments have effects on the COVID-19 pandemic in the engineering products segment, revenue fell by 18. 2% to EUR 67. 0 million in the first part of 2020, mainly from production shutdowns in the automotive sector (previous year: EUR 81. 9 million EBITDA declined to -6. 6 million euros (previous year : EUR 3. 0 million). Adjusted EBITDA, on the other hand, increased by 18. 4% to EUR 4. 5 million (previous year: EUR 3. 8 million). The assignment to radically reshape the segment. During the first part of the year, sustainable improvement in profitability has often been pursued, and related expenditure will continue to have an effect on the Group’s progression in the current part of 2020.
In the flexible film segment, the effects of the pandemic have only been partially felt thanks to its wide diversification and flexibility. Revenues higher than 5. 4% to 50. 9 million euros in the first part (previous year: 48. 3 million euros). the automotive business sectors more than compensated with the expansion in other spaces and the creation of new sales opportunities. EBITDA exceeds 39. 7% to 8. 1 million euros due to a significant improvement in profit margin (previous year: 5. 8 million euros).
In the surface generation segment, which operates mainly in the automotive sector, revenues decreased by 26. 7% to EUR 25. 2 million in the first part of 2020 (previous year: EUR 34. 4 million). However, with the immediate implementation of the measures, the EBITDA workforce exceeds by more than one hundred per cent up to EUR 10. 8 million (previous year: EUR 5. 2 million) for non-recurring effects of EUR 5. 6 million Adjusted EBITDA amounts to EUR 3. 4 million (previous year: EUR 5. 8 million).
In the precision parts segment, revenues decreased by 30. 3% to EUR 18. 6 million in the first part of 2020 (previous year: 26. 7 million euros). The first 3 months of the year were marked, among other things, by the status quo of new sectoral organization (in particular advertising), the intensification of advertising activity and the definition of sales channels, in addition, COVID-19 is a determining factor in the progression of the segment since more than 90% of the segment deliveries fear the global automotive sector. EBITDA decreased from EUR 3. 1 million to EUR 0. 1 million (previous year: EUR 3. 2 million).
In the IT/Services segment, revenues grew by 2. 9% to 10. 6 million euros in the first part of 2020 (previous year: 10. 3 million euros). This positive progression is due to the accelerated trend towards digitization, the sale of software subscriptions, and the new award-winning assignments. In addition, the segment received a primary knowledge research assignment in Austria, which will be implemented in the year. EBITDA over 1. 8 million euros (previous year: 1. 3 million euros).
Forecast for fiscal year 2020 Assuming that there is no unpredictable worsening during the COVID-19 pandemic and that there is no corresponding negative effect on KAP AG, the Executive Board expects total revenue of between three hundred and 330 million euros and an adjusted EBITDA of 27 to 30 million for the full year 2020.
The full 2020 16th-year report can be obtained on the company’s online page at https://www. kap. de/en/investor-relations/reports/half-year-reports.
[1] Adjusted for the unique effects of claims insured in 2019, restructuring and cessanty prices and transaction-related advisory fees amounting to EUR 0. 7 million. Contact: KAP AG Dr. Alexander Riedel (CFO) E: a. riedel . T: 49661 103590
Kirchhoff Consult AG Nicole Schuttforth E: nicole. schuettforth@kirchhoff. de T: 49 40609186 64 ‘KAP KAP AG is a medium-sized German trade organization with approximately 3000 employees. We specialize in engineering products, flexible films, IT services, precision technologies and components, cutting-edge commercial products and response generation for foreign industry and industry companies. Through our long-term business strategy, we serve a number of hot market niches with sustainable expansion potential. Our purpose is to expand the market, specialized and high margin commercial product lines in those segments. As a reliable succession planning partner, we also gain a medium circle of businesses related to our existing segments or expand new ones. KAP shareholders gain advantages from the expansion of our company’s track record and ongoing dividend policy.
21. 09. 2020 Dissemination of corporate news, transmitted through DGAP – a service of EQS Group AG. The issuer is for the content of this ad only. File in www. dgap. de
Language:
English
Company:
KAP AG
Edelzeller Strasse 44
36043 Fulda
germany
Phone:
06611030
Fax:
0661103830
Email:
office@kap. de
The Internet:
www. kap. de
IT IS IN:
DE0006208408
Wkn:
620840
Listing:
Frankfurt Regulated Market (Prime Standard); Unofficial regulated market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange
EQS News ID:
1134515
End of the news
DGAP Press Service