Blue Cap

DB: B7E

€71.6m market cap

€18 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 reported a strong set of FY19 results, with revenues up 28% and adjusted EBITDA up 67%. Portfolio NAV increased 8% to €128.6m or €32.31 per share, which was mainly driven by expansion in the plastics segment. The coronavirus crisis has affected Blue Cap as management now expects a low double-digit organic decline in revenues in 2020. This will not be fully compensated for by the revenue contribution of acquired Con-Pearl. 2021 is expected to be much stronger, assuming a post-coronavirus recovery leading to increased activity, and the restructuring benefits at Con-Pearl.

Sector
Industrials
Share price graph
Price performance
%
1m
3m
12m
Actual 6.5 21.6 (0.6)
Relative* 1.5 (7.7) (1.2)
52-week high/low €20.6/€10.0
*% relative to local index
Key management
Matthias Kosch Financial Controller
Tobias Eiblmeier Manager M&A