On 26 April 2019 Blue Cap announced its FY18 results, posting a 24% increase in sales to €176.1m and EBITDA of €11.5 compared with €11.2m in the previous year. EBIT was down at €6.7m (FY17: €8.5m) and net income decreased from €40m to €4.6m. However, the latter remained stable when adjusted for last year’s sale of Blue Cap’s subsidiary, Biolink.
The company highlights that its FY18 EBIT decreased due to investments in Knauer-Uniplast, a portfolio company acquired during the year. Blue Cap adds that the reorganisation of this entity launched in 2018 is now showing tangible effects.
According to the company, its portfolio companies progressed well during the year, with implementation of digitalisation strategy and increased productivity at Neschen as well as enhancement of product portfolio at Nokra and Planatol. During the year, Blue Cap sold WISAP, a manufacturer of medical equipment.
Blue Cap will now focus on improvement of operating results at its subsidiaries and expansion of its portfolio through purchases of large entities as well as add-on acquisitions to the existing portfolio holdings.