Cabka 2023 preliminary update
01 Février 2024 - 7:30AM
Cabka 2023 preliminary update
Amsterdam February 1, 2024. Cabka N.V.
(together with its subsidiaries “Cabka”, or the “Company”), a
company specialized in transforming hard to recycle plastic waste
into innovative Reusable Transport Packaging (RTP), listed at
Euronext Amsterdam, announced its 2023 preliminary
update today.
The last quarter of 2023 showed a significant 35%
Quarter-on-Quarter recovery in sales to €53 million (Q3 2023: €40
million). Total sales for the full year of 2023 amounted to €197
million, 6% lower compared to the record sales achieved in 2022 of
€209 million. Total 2023 sales ended €3 million below outlook,
fully attributable to an agreed delayed new customer project
launch. Consequently, this caused a 0.8% negative impact on the
operational EBITDA margin for full year 2023.
The company expects to reach an operational EBITDA of € 24.2m
for full year 2023, and improvement of the operational EBITDA
margin by 1.5pp to 12.3% in 2023, compared to 10.8% in
2022.
The key strategic segment of Customized Solutions continued to
perform well, showing a strong 20% growth in 2023. The positive
momentum in the fourth quarter further accelerated with new
products launched in close partnership with CHEP, Continental, and
BMW. Cabka’s Eco business grew 7% following the completion of its
capacity expansion earlier in the year.
Sales in 2023 are to be considered in the context of challenging
general market circumstances, with increasing interest rates
leading to significant destocking and restricted capital
investments from customers in most of Cabka’s end markets. This
resulted in overall lower market demand and pricing pressure across
the industry.
Lower total sales were driven by the divestment of the PVC
business, and declining sales in the non-strategic contract
manufacturing segment. The continued focus on product innovations
enabled Cabka to mitigate market headwinds, resulting in stable
sales across strategic segments.
Cabka will publish its full preliminary results 2023 on March
20, 2024.
Financial Reporting Calendar 2024
- March 20 Preliminary Results 2023
- April
18 Publication
Annual Report 2023 and Trading Update 2024Q1
- May 30 Annual General Meeting of
Shareholders
- August 13 Half-Year Results and Half-Year Report
2024
- October 21 Trading Update 2024Q3
For more information, please contact:
Frank Roerink, CFOIR@cabka.com +49 152
04623490investors.cabka.com
About Cabka
Cabka is in the business of recycling plastics from
post-consumer and post-industrial waste into innovative reusable
transport packaging (RTP), like pallets- and large container
solutions enhancing logistics chain sustainability. ECO products
are mainly construction and road safety products produced
exclusively out of post-consumer waste.
Cabka is leading the industry in its integrated approach closing
the loop from waste, to recycling, to manufacturing. Backed by its
own innovation center it has the rare industry knowledge,
capability, and capacity of making maximum use bringing recycled
plastics back in the production loop at attractive returns. Cabka
is fully equipped to exploit the full value chain from waste to
end-products.
Cabka is listed at Euronext Amsterdam as of 1 March 2022 under
the CABKA ticker with international securities identification
number NL00150000S7.
Disclaimer
The content of this press release may include statements that
are, or may be deemed to be, ‘’forward-looking statements’’. These
forward-looking statements may be identified by the use of
forward-looking terminology, including the terms ‘’believes’’,
‘’estimates’’, ‘’plans’’, ‘’projects’’, ‘’anticipates’’,
‘’expects’’, ‘’intends’’, ‘’may’’, ‘’will’’ or ‘’should’’ or, in
each case, their negative or other variations or comparable
terminology, or by discussions of strategy, plans, objectives,
goals, future events or intentions. Forward-looking statements may
and often do differ materially from actual results. Any
forward-looking statements reflect the Company’s current view with
respect to future events and are subject to risks relating to
future events and other risks, uncertainties and assumptions
relating to the Company’s business, results of operations,
financial position, liquidity, prospects, growth, or
strategies.
Readers are cautioned that any forward-looking statements are
not guarantees of future performance. Given these
uncertainties, the reader is advised not to place any undue
reliance on such forward-looking statements. These forward-looking
statements speak only as of the date of publication of this press
release. The Company undertakes no obligation to publicly update or
revise the information in this press release, including any
forward-looking statements, except as may be required by law.
This document contains information that
qualifies as inside information within the meaning of Article 7(1)
of Regulation (EU) No 596/2014 on market abuse.
- 20240201d Cabka preliminary update
Cabka NV (EU:CABKA)
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