Blue Cap Ag · XETR:B7E
Blue Cap — 41st Munich Capital Market Conference 2026
14 slides from Blue Cap's conference presentation, Apr 23, 2026
Slide 1: Investor Presentation April 2026
Investor Presentation April 2026
Slide 2: Blue Cap AG: Listed Private Equity with focus on SME transformation
Blue Cap AG: Listed Private Equity with focus on SME transformation At a glance Long-term oriented shareholder structure ▪ Founded 2006 ▪ Publicly listed investment company (Open Market/‘Freiverkehr’) headquartered in Munich 6.3% ▪ Experts for turnaround of industrial companies (SMEs) 9.1% ▪ Busines
Slide 3: M&A and transformation: Our business model for value creation
M&A and transformation: Our business model for value creation Buy Transform Sell Creating value through Clearly defined acquisition focus Ongoing exit monitoring transformation expertise M&A Portfolio Capture ▪ DACH region ▪ Operational turnaround and ▪ Buy Transform Sell transformation ▪ B2B indust
Slide 4: Diversified portfolio of German B2B SMEs
Diversified portfolio of German B2B SMEs Portfolio Overview 5 Companies headquartered in Germany 550 Employees 4 Business segments = Portfolio company recently sold Blue Cap AG_Investor Presentation_MKK 4
Slide 5: Blue Cap in numbers: Prel. FY 2025 with robust profitability and strong balance sheet
Prel. FY 2025 Prel. FY 2025 Revenue Adj. EBITDA € 129.1 mn € 7.2 mn Blue Cap in numbers: Prel. FY 2025* with robust profitability and strong balance sheet Prel. FY 2025 Prel. FY 2025 Leverage Ratio Adj. EBITDA Margin 0.0 5.5% * Continuing business segments Blue Cap AG_Investor Presentation_MKK 5
Slide 6: Portfolio profitability improving despite mixed revenue development
Portfolio profitability improving despite mixed revenue development Revenue by segment* in EUR mn Adj. EBITDA by segment* in EUR mn 2024 2024 2025p 2025p 71.6 7.8 Industrials +4% Industrials +5% 74.3 8.2 63.1 1.3 Business Services -13% Business Services +128% 54.8 3.0 * Continuing business segments
Slide 7: Track Record: Transformation expertise is reflected in successful exits
Track Record: Transformation expertise is reflected in successful exits Three successful exits within 2024/2025 Exits to strategic investors 09/2024 10/2024 08/2025 Nokra Neschen con-pearl 6x MOIC 8x MOIC 15x MOIC Cash purchase prices 21% IRR 44% IRR 60% IRR Exits according to our best-owner- Timely
Slide 8: Sharing success with our shareholders: record dividend after Neschen exit
Sharing success with our shareholders: record dividend after Neschen Exit 4.04,0 % % 4.04,0 % % 3.73,7 % % 3.33,3 % % 4.04,0 % % 3.73,7 % % 6.16,1 % % Basisdividende Sonderdividende Special dividend Base dividend 0,25 0,45 EUR 0.25 0.45 1.10/Share 0,75 0,75 0,75 0,85 0.85 0,90 0.90 0.75 0.75 0.75 0,
Slide 9: NAV at two-year high: Sustained value creation for our shareholders
NAV at two-year high: Sustained value creation for our shareholders NAV by segment* 4,0 % 4,0 % 3,7 % 3,3 % 4,0 % 3,7 % 6,1 % EUR mn Basisdividende 130.7 Sonderdividende 115.3 120.2 112.4 EUR 35.6 47.8 0,25 58.1 70.9 0,45 29.11/share 33.3 34.5 2.1 19.7 5.6 20.9 10.6 0,90 as of 30.06.2025 31.5 0,75 0
Slide 10: FY 2026: Forecast for the remaining portfolio
FY 2026: Forecast for the remaining portfolio (Continuing Operations) 01 02 03 EUR 120–140 5–6% Leverage mn Adj. EBITDA margin <3,5x Revenue Guidance is based on Blue Cap’s current corporate structure, excluding impacts from M&A Blue Cap AG_Investor Presentation_MKK 10
Slide 11: Mid-Term Outlook: NAV Growth Through Consequent M&A Activity
Mid-Term Outlook: NAV Growth Through Consequent M&A Activity Future NAV growth will be driven by: Acquisition-led growth Highly mature existing portfolio, target portfolio size: up to ten with potential from deleveraging investments and earnings improvement Acquisitions of €50-100 million in revenue
Slide 12: Summary: Blue Cap Investment Highlights
Summary: Blue Cap Investment Highlights Proven business model: value creation through M&A and transformation Investments in special situations: based on Blue Cap’s capabilities and market opportunities Following three successful exits, most of the NAV is cash-backed Diversified portfolio: active acr
Slide 13: Contact & Further Information
Contact & Further Information Dr. Henning von Kottwitz CEO hvonkottwitz@blue-cap.de Find out more about Blue Cap here: Annika Küppers Corporate Affairs akueppers@blue-cap.de Blue Cap AG_Investor Presentation_MKK 13
Slide 14: 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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