KAP AG: ADJUSTMENT OF GUIDANCE FOR FISCAL YEAR 2023

Fulda, 21 August 2023 –KAP AG („KAP“), listed, mid-sized industrial holding company (German securities identification number WKN 620840, ISIN DE0006208408) has today adjusted its guidance for revenue and normalised EBITDA for the full year 2023 based on current information for the second half of 2023.

Accordingly, significantly lower revenue and significantly lower normalised EBITDA are now predicted for the full year 2023, each with an anticipated year-on-year deviation in the low double-digit percentage range. Previously, revenue and normalised EBITDA were expected to be slightly above the previous year. In the previous year, excluding the divested companies of the flexible films segment, revenue of €360.1 million and normalised EBITDA of €23.5 million were generated.

The main reason for the adjustment is that KAP no longer expects the economy to recover quickly after the summer break, as previously expected, following a weak second quarter of 2023. The economy is expected to remain at the current low level or to develop more sluggishly. This applies in particular to the markets relevant for KAP.

The Management Board

Notifying officer and investor relations contact
Kai Knitter
Head of Investor Relations & Corporate Communications
[email protected]
+49 (0) 661 103 327