Blue Cap Ag · XETR:B7E
Blue Cap — Equity Forum – German Spring Conference 2021
38 slides from Blue Cap's conference presentation, May 17, 2021
Slide 1: Blue Cap AG Equity Forum – German Spring Conference
Blue Cap AG Equity Forum – German Spring Conference 17-19 May 2021 Investor Presentation Blue Cap AG 1
Slide 2: Agenda
Agenda 01 Overview 02 Business Performance 03 Financial Performance FY 2020 Appendix Investor Presentation Blue Cap AG 2
Slide 3: 01 Overview
01 Overview Investor Presentation Blue Cap AG 3
Slide 4: Blue Cap at a Glance
Blue Cap at a Glance Holding Company 9 portfolio companies with investment focus across six sectors on German-speaking SME companies with Primarily control clear potential for investments active transformation Sales of Our business model EUR 233 mn and BUY, TRANSFORM, EBITDA adj. of EUR SELL integra
Slide 5: High Value Diversification across Sectors
High Value Diversification across Sectors Coating Technology Invest: 2016 / 100% Revenue: € 55 mn Employees: 263 28% Medical Technology Plastics Invest: 2006 / 42% Technology Invest: 2019 / 100% Revenue: € 31 mn Employees: 93 17% 27% Revenue: € 51 mn Employees: 286 Production Technology Invest: 2019
Slide 6: Experienced Management Team with Complementary Skills
Experienced Management Team with Complementary Skills Tobias Hoffmann-Becking Ulrich Blessing Matthias Kosch Chief Investment Officer Chief Operating Officer Chief Financial Officer Main Responsibilities Main Responsibilities Main Responsibilities ▪ M&A Business ▪ Portfolio Management ▪ Finance and
Slide 7: Investment Focus on Medium-sized Niche Companies
Investment Focus on Medium-sized Niche Companies Our focus: companies with core business in production, distribution or services of industrial goods Investment Criteria Succession Revenue from 30 to € 80 MEUR Investment Situations Carve-out Equity between 5 Headquarters and 25 MEUR DACH Growth chall
Slide 8: BUY: Active Market Screening
BUY: Active Market Screening Active review of new opportunities to realize 1-2 new acquisitions every year plus add-on acquisitions Annual Deal Flow Direct M&A Contacts Advisors Investment Banks 20% Initial Approach ~ 200 37,5% Detailed Analysis ~40 Identification of value creation Due Diligence lev
Slide 9: TRANSFORM: Strategic Dialogue between Holding and Portfolio
TRANSFORM: Strategic Dialogue between Holding and Portfolio Blue Cap Portfolio Companies Portfolio Management “Transform is more than “Develop & implement individual improve” strategies and autonomous management” ▪ Active and strategic support in the transformation and development Growth initiatives
Slide 10: SELL: Realising the Value Created
SELL: Realising the Value Created No time constraints for holding period – we keep the company as long as we are the best owner Buy, Turnaround, Sell “Best Owner” Approach ▪ We keep our portfolio companies as long as we are the “Best Owner” and value creation is still possible with Blue Cap as main
Slide 11: SELL: Case Studies
SELL: Case Studies Business Model is confirmed by our exits em-tec WISAP Biolink Medical Technology Medical Technology Adhesive Technology Investment: 2014 Investment: 2012 Investment: 2009 Exit: 2020 Exit: 2018 Exit: 2017 Buyer: Dover Corp. Buyer: Aouha Buyer: St. Gobain (Illinois, USA) (Shanghai,
Slide 12: 02 Business Performance
02 Business Performance Investor Presentation Blue Cap AG 12
Slide 13: Milestones 2020/2021 under the New Management
Milestones 2020/2021 under the New Management Getting through the pandemic safely and strengthening the group Jan 20 April 20 June 20 July 20 Sept 20 FY 20 Start of the Completion Insolvency of Expansion of Management Blue Cap exceeds new of SMB-David Supervisory conference with focus expectations i
Slide 14: Hero: Attractive New Acquisition with Significant Value Potential
Hero: Attractive New Acquisition with Significant Value Potential 1. Hero: acquired in January 2021 ▪ Hero is a plastics expert with core competence in the development and production of gas injection molding and injection molded parts. ▪ Customers are mainly from the automotive and household applian
Slide 15: Recyplast: Add-on with Attractive Synergies and Development Potential
Recyplast: Add-on with Attractive Synergies and Development Potential 1. Add-on Acquisition for con-pearl ▪ Purchase of all material assets of Recyplast GmbH out of the insolvency proceedings for Fischer GmbH Leinefelde/ ▪ Recyplast is a plastic recycling specialist, located in Hillscheid, Rhineland
Slide 16: Active Reshaping of Portfolio
Active Reshaping of Portfolio … … in order to significantly increase underlying earnings 1. Sale of em-tec GmbH in March 2020 Net cash proceeds: + EUR 24 mn Effect on Group EBITDA: EUR -1.3 mn 2. Reinvestment in the business 3. Attractive Dividend Policy Amount invested in EUR mn ▪ Dividend FY 2019:
Slide 17: 03 Financial Performance
03 Financial Performance Investor Presentation Blue Cap AG 17
Slide 18: Fiscal Year 2020 - Overview
Fiscal Year 2020 - Overview Strong performance in FY 2020 despite Covid challenges Revenue in EUR mn Net Asset Value NAV in EUR mn NAV per share in EUR +15% CAGR +14% CAGR 226 233 153.5 141.2 176 118.2 35.5 38.5 29.7 2018 2019 2020 2018 2019 2020 EBIT and EBITDA adj. in EUR mn EBITDA adj. Leverage N
Slide 19: Solid Start into 2021
Solid Start into 2021 Performance in Q1 / 2021 in EUR mn Q1 2020 Q1 2021 Lower sales, higher profitability ▪ Sales were lower compared to PY (-14%). This is mainly due to the ongoing pandemic 64.7 8.1% (“third wave”) and a change in the scope of consolidation. 6.7% 4.7 ▪ Neschen and Carl Schaefer ar
Slide 20: Indicative Net Asset Value of the Group as of 31.12.2020
Indicative Net Asset Value of the Group as of 31.12.2020 Slight increase of 9% from 2019 153.9 in EUR mn 11.9 +9% yoy Indicative 9.9 NAV per 141.2 share: 26.1 106.0 € 38,58 Indicative NAV per share: Coating Technology 42.9 € 35,48 Plastics Technology 42.3 Adhesive Technologie Metal Technology 11.9 P
Slide 21: Attractive Dividend Policy
Attractive Dividend Policy Dividend per share in EUR and dividend yield in % (1) The Board of Management and the Supervisory Board propose to the Annual Shareholders’ Meeting to pay a dividend of EUR 1.00 per 4.7% 4.5% 5.6% share. The dividend comprises of a base dividend of 0.75 cent plus a special
Slide 22: Outlook
Outlook Covid-19 will further accompany us, but we have ambitious targets Further strengthen the portfolio structure Short Term Goals Short term financial goal for 2021: Sales of EUR 255-265 mn and EBITDA Successful organic development (adj.) margin of 8-9% Growth by acquiring new companies Net debt
Slide 23: Thank you for your interest in Blue Cap!
Thank you for your interest in Blue Cap! Your Contact Person: Tobias Hoffmann-Becking Board Member M&A / Capital Markets T: +49 89 288909-10 E: hoffmann-becking@blue-cap.de Blue Cap AG Ludwigstraße 11 80539 Munich www.blue-cap.de Investor Presentation Blue Cap AG 23
Slide 24: Appendix
Appendix Investor Presentation Blue Cap AG 24
Slide 25: Financial Calendar
Financial Calendar Date Event Location 17.05.-19.05.2021 Equity Forum Frühjahrskonferenz Virtual 25 June 2021 Annual General Meeting 2021 Virtual 14 July 2021 m:access Fachkonferenz Beteiligungsgesellschaften Munich August 2021 Half Year Results 2021 Publication 22.11.-24.11.2021 Deutsches Eigenkapi
Slide 26: Blue Cap on the Stock Market
Blue Cap on the Stock Market Reference Data Analyst Coverage ISIN / WKN: DE 00A0JM2M1 / A0J M2M Institution Date Rating Target Price Ticker: B7E Share Capital: 3,996,628.00 Euro / 3,996,628 pcs M.M. Warburg 04.02.2021 buy 38.00 € Market Segment: Scale (Frankfurt), m:access (Munich) SMC Research 07.0
Slide 27: Change in Shareholder Structure Expected
Change in Shareholder Structure Expected Shareholder Structure as of April 2021 PartnerFonds AG1) 45.6% Free Float 43.5% Kreissparkasse Biberach 10.9% 1) In an extraordinary meeting on May 6, 2020, it was decided to liquidate PartnerFonds AG with effect from January 1, 2021. “… based on our liquidat
Slide 28: Fiscal Year 2020 - Overview
Fiscal Year 2020 - Overview TEUR 2020 2019 Δ in % Good business performance in Corona Year Earnings Figures ▪ The forecast for FY 2020 was adjusted in March 2020 Sales 232,999 225.671 3.2 due to economic restrictions caused by Covid-19: sales adjusted EBITDA (1) 17,618 14,333 22.9 of EUR 215-222 mn
Slide 29: Fiscal Year 2020 - Sector Performance
Fiscal Year 2020 - Sector Performance Revenue by sectors in TEUR Employees by sectors 100.724 Metal Engineering Others Plastics Technology 72.789 Production Technology 4% 54.481 6% 1% Coating Technology 62.236 Adhesive Technology 30.750 12% Adhesive Technology 35.663 10.636 52% Plastics Technology P
Slide 30: Neschen Coating GmbH
Neschen Coating GmbH Neschen Coating GmbH is a leading international company for self-adhesive media and coating solutions. The company offers products for a wide range of applications in the fields of "Graphic Media and Laminators", "Book Protection and Repair" as well as individual solutions for i
Slide 31: Uniplast Knauer GmbH & Co. KG
Uniplast Knauer GmbH & Co. KG Uniplast develops and manufactures plastic cups for the dairy and food industry. The company produces more than 3 billion cups annually using an injection molding or deep drawing process. The cups are primarily used for yogurt, dessert and cream cheese. In addition to t
Slide 32: con-pearl GmbH
con-pearl GmbH con-pearl manufactures lightweight plastic boards and products for the packaging and automotive industry as well as many other sectors. In its own recycling and compounding plant in Leinefelde the company recycles polypropylene plastic and converts it into high-quality plastic compoun
Slide 33: Planatol GmbH
Planatol GmbH Planatol is a global supplier of adhesives, adhesive applications and application systems. The company serves the packaging, wood and paper industries and offers customized special solutions for many other branches of industry. Planatol also develops and produces systems for their appl
Slide 34: Hero GmbH
Hero GmbH Hero is a plastics expert with core competence in the development and production of gas injection molding and injection molded parts. Customers are mainly from the automotive and household appliance industry. Expertise ranges from simple plastic parts to complex assemblies with high-qualit
Slide 35: nokra Optische Prüftechnik und Automation GmbH
nokra Optische Prüftechnik und Automation GmbH nokra provides high-quality measuring and inspection systems for use in manufacturing worldwide. Its systems measure geometric features such as length, width, thickness, profile, form and position. The measuring systems inspect seamlessly and automatica
Slide 36: Gämmerler GmbH
Gämmerler GmbH Gämmerler GmbH has specialized in the development, construction and assembly of systems and machines for the finishing of print products. Due to the general consolidation pressure in the printing industry and Corona- induced weakness, Gämmerler will focus on the service and spare part
Slide 37: Carl Schaefer Gold- und Silberscheideanstalt GmbH
Carl Schaefer Gold- und Silberscheideanstalt GmbH Carl Schaefer is a gold and silver refinery. In the recycling process pure precious metal is extracted from the delivered goods. The company offers a wide of precious metal semi-finished and finished products. Customers include precious metal traders
Slide 38: Disclaimer
Disclaimer By accessing this document, you acknowledge the restrictions on use set out herein. The information contained in this document regarding Blue Cap AG ("Blue Cap" or the "Company") may not be distributed, reproduced, published or passed on to other persons, either in whole or in part. No re
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