Blue Cap

DB: B7E

€88.7m market cap

€22.2 last close

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

Investment summary

Blue Cap has performed relatively well during the coronavirus pandemic. Reported revenues rose 8% in H120 while organic decline was limited to 12%, despite exposure to the industry sector including automotive. For FY20, Blue Cap expects a slight decline in revenues (also due to portfolio changes) and a significant decline in adjusted EBIT. Despite positive and negative swings in the NAV of the individual holdings, Blue Cap’s overall NAV remained broadly unchanged at €138.5m at H120. The current share price reflects a large discount of 46% to the NAV per share of €34.68.

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Sector
Industrials
Share price graph
Price performance
%
1m
3m
12m
Actual 19.7 12.1 29.8
Relative* 20.4 8.1 20.3
52-week high/low €25.1/€10.0
*% relative to local index
Key management
Matthias Kosch CFO
Tobias Hoffmann-Becking CIO
Ulrich Blessing COO