Blue Cap Ag · XETR:B7E
Blue Cap — 35th Munich Capital Market Conference (MKK) 2023
30 slides from Blue Cap's conference presentation, May 4, 2023
Slide 1: Investor Presentation - 35th Munich Capital Market Conference
Investor Presentation 35th Munich Capital Market Conference 04 May 2023 Blue Cap AG
Slide 2: Agenda
Agenda 01_ Investment Highlights 02_ Financial Performance 03_ Outlook
Slide 3: Investment Highlights
Investment 01_ Highlights
Slide 4: Unique opportunity to invest in German SME companies
Investment Highlights Unique opportunity to invest in German SME companies 01_ Proven and unique business model 02_ Diversified portfolio of SMEs 03_ Track record for value growth 04_ Substantial earnings growth 05_ Attractive dividend yield 06_ Strong value creation potential Investor Presentation
Slide 5: Proven and unique business model – Private Equity
01_ Proven and unique business model – Private Equity business model as publicly listed entity BUY TRANSFORM SELL ▪ Investment situations, among Active management in the dimensions ▪ Active sales process: others: best-owner approach People & Culture Succession Balance sheet ▪ Passive sales process:
Slide 6: The new Blue Cap Transformation Radar
01_ The new Blue Cap Transformation Radar ▪ We newly established structured processes of value creation initiatives for our portfolio companies ▪ Core of our transformation competence and value enhancement expertise: ▪ People & Culture ▪ Balance Sheet ▪ Margin ▪ Growth ▪ Additional value creation dr
Slide 7: Differentiation to other listed investment companies
01_ Differentiation to other listed investment companies “Best Owner” approach Buy, Buy,Turnaround, Sell Turnaround, Sell ▪ We keep our portfolio companies as long as we are the “Best Owner”, and value creation is still possible with Blue Cap as main shareholder ▪ When our full potential is realized
Slide 8: Diversified portfolio across sectors and economic cycles
02_ Diversified portfolio allows our shareholders to participate in different sectors and economic cycles Portfolio of Net Asset Value share by segment (*) ▪ 9 companies with headquarters in Germany ▪ More than 1,400 employees 1% ▪ Four major segments represent the value of the group 16% 44% 17% 25%
Slide 9: Plastics Segment
02_ Plastics Segment Plastics: 44%* ▪ Manufactures lightweight plastic boards from recycled plastic primarily for the logistic and automotive industry ▪ Value drivers: ▪ Growth: expansion US business Invest: 2019 / 100% ▪ Technology: process automatization Revenue: € 67.3 mn ▪ ESG: circular economy
Slide 10: Adhesives & Coatings segment
02_ Adhesives & Coatings segment Adhesives & Coatings: 16%* ▪ Niche supplier of adhesive products for different industries ▪ Value drivers: ▪ Growth: strengthen export and international business ▪ Technology: focus on innovations and cooperations Invest: 2009 / 100% ▪ People & Culture: strengthen sa
Slide 11: Business Services segment
02_ Business Services segment Business Services: 25%* ▪ Electronic product and systems distributor with a special focus on value-add through technical consulting and development expertise ▪ Value drivers: ▪ Growth + Margin: profitable growth in the areas of system solutions and design-in products ▪
Slide 12: Others and non-consolidated activity
02_ Others and non-consolidated activity Others: 1%* ▪ Manufactures inline measurement systems using optical lasers ▪ Value drivers: ▪ Growth: expansion based on product competence and scalability through customer growth Invest: 2014 / 90% ▪ Business Model: scaling niche competence through products
Slide 13: Track record for value growth – high return on invested equity
03_ Track record for value growth – high return on invested equity capital targeted Production Technology Metal Technology Medical Technology Medical Technology Adhesive Technology ▪ Investment: 2011 ▪ Investment: 2016 ▪ Investment: 2014 ▪ Investment: 2012 ▪ Investment: 2009 ▪ Exit: 2022 ▪ Exit: 202
Slide 14: Substantial earnings growth: 2022 figures confirm transformation effects
04_ Substantial earnings growth: 2022 financial figures confirm positive effects from transformation Growth Rates We have built a stronger group during the last 3 years 2019-2022 2019 – 2022 ▪ Since end of 2019 strong growth in all key metrics despite Covid-19 impacts and economic turbulences Revenu
Slide 15: Attractive dividend yield
05_ Attractive dividend yield Dividend per share and dividend yield Our dividend policy enables our shareholders EUR and % to participate continuously in Blue Cap’s 4.0% 4.0% 4.0% 3.7% 3.3% 4.0% success ▪ Blue Cap AG targets a stable base dividend over the 1.00 1.00 cycle 0.85 0.90 ▪ Over time with
Slide 16: Strong value creation potential – NAV per share target of 55 Euro
06_ Strong value creation potential – NAV per share target of 55 Euro until 2025 Net Asset Value as of 31 December 2022 Net Asset Value per share target EUR mn – sum of the parts 160.8 -2.6 26.6 55.00 € Significant upside potential 40.6 36.60 € 25.8 70.4 24.80 € Plastics Adhesives Business Medical N
Slide 17: Financial Performance
Financial 02_ Performance
Slide 18: Revenue and EBITDA have shown very high annual growth rates
Revenue and EBITDA have shown very high annual growth rates Revenue Adjusted EBITDA and adj. EBITDA margin EUR m EUR m and % CAGR 19% CAGR 37% 347.5 9.1% 8.6% 7.6% 267.3 6.4% 30.4 225.7 233.0 24.6 4.8% 176.0 17.6 14.3 8.6 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 ▪ FY 2022: Revenue rose by 3
Slide 19: Solid financial foundation – strong equity and leverage ratios
Solid financial foundation – strong equity and leverage ratios Equity and equity ratio Adj. EBITDA and leverage ratio EUR m and in % of total assets EUR m and in x EBITDA Net debt/adj. EBITDA 32 30.4 5 2022 109.4 37% 30 4.3 28 26 24.6 4 24 2021 98.2 37% 22 20 Target 17.6 2.6 3 debt Net 18 2.4 < 3.5x
Slide 20: Focus on cash management with positive effects
Focus on cash management with positive effects Net working capital* Cash Conversion Cycle Net debt EUR m and in % of total output (LTM) days EUR m 31.12.2022 18% 63.5 31.12.2022 88 31.12.2022 73.4 -17% -9% 30.06.2022 24% 76.7 30.06.2022 109 -18% 30.06.2022 80.7 +26% 31.12.2021 22% 60.9 31.12.2021 10
Slide 21: Outlook
03_ Outlook
Slide 22: Guidance 2023 and outlook
Guidance 2023 and outlook Guidance 2023 Medium term outlook ▪ Focus on active and stringent portfolio transformation ▪ Uncertainty of macroeconomic development in 2023 ▪ Recession will have an impact on parts of the portfolio, ▪ Countermeasures to cover the current reductions in however, diversifica
Slide 23: Questions and Answers
5 BLUE CAP oa and Answers
Slide 24: Thank you for your attention!
Thank you for your attention!
Slide 25: Contact
Contact Tobias Hoffmann-Becking CEO, M&A / Capital Markets hoffmann-becking@blue-cap.de +49 89 288909-10 Blue Cap AG Ludwigstraße 11 office@blue-cap.de 80539 München www.blue-cap.de
Slide 26: Appendix
Appendix
Slide 27: Experienced management team with complementary skills
Experienced management team with complementary skills Tobias Hoffmann-Becking Henning Eschweiler Matthias Kosch Chief Executive Officer Chief Operating Officer Chief Financial Officer Main Responsibilities Main Responsibilities Main Responsibilities ▪ M&A Business ▪ Portfolio Management ▪ Finance an
Slide 28: Blue Cap on the stock market
Blue Cap on the stock market Reference data Positive recommendations by Analysts ▪ ISIN/WKN: DE 00A0JM2M1 / A0JM2M ▪ Ticker: B7E, B7E.DE (Reuters), B7E:GR (Bloomberg) Analyst Date Rating Target Price ▪ Share Capital: 4,396,290.00 Euro / 4,396,290 pcs M.M. Warburg 15.03.2023 Buy 40.00 € ▪ Market Segm
Slide 29: Financial calendar and contact details
Financial calendar and contact details Date Event Location May 2023 Annual Report 2022 Publication 04 May 2023 35th Munich Capital Market Conference - MKK Munich 09 May 2023 Q1 2023 and Earnings Call at 2 pm Publication & virtual 23 June 2023 Annual General Meeting Virtual 05 July 2023 m:access Conf
Slide 30: Disclaimer
Disclaimer By accessing this document, you acknowledge the restrictions on use set out Insofar as the information contained in this document is based on statements herein. The information contained in this document regarding Blue Cap AG made by third parties, we would like to point out that no warra
Blue Cap — 35th Munich Capital Market Conference (MKK) 2023 on 6ix