Blue Cap

DB: B7E

Market Cap€130m

Last Close €29.6

Blue Cap is a Munich-based industrial holding company, investing in medium-sized manufacturing companies with a turnover range of €20–100m.

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Investment summary

Blue Cap reported a strong set of results in H121. Revenues rose 6% y-o-y to €121m and the adjusted EBITDA margin improved 330bp y-o-y to 8.4%. After the acquisition of HY-LINE in early August, Blue Cap updated its FY21 guidance to revenues of €265–275m and an adjusted EBITDA margin of 8–9%. Group NAV increased by 1% to €155m, as the contribution from acquisitions was offset by higher net debt. Driven by the strong performance and several acquisitions, the discount to group NAV declined from 30% at end FY20 to 17% currently.

Content on Blue Cap
Blue Cap – Strong margin improvement in H121
Industrials | Update | 10 September 2021
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Blue Cap – Weathering the storm relatively well
Industrials | Update | 18 September 2020
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Share price graph
Price performance
%
1m
3m
12m
Actual (6.9) 11.3 78.3
Relative* (9.3) 9.1 46.3
52-week high/low €33.2/€14.5
*% relative to local index
Key management
Matthias Kosch CFO
Tobias Hoffmann-Becking CIO
Ulrich Blessing COO