Online investor presentation and Q&A at 10.30 CEST today via https://channel.royalcast.com/landingpage/cabka/20220817_1/
Amsterdam 17 August 2022. Cabka N.V. (together with its subsidiaries, the "Company"), a leading integrated circular production company, listed at Euronext Amsterdam, announces its non-audited results for the first six months ended 30 June 2022, today.
Cabka CEO Tim Litjens, commented: "The first six months of 2022 have shown operational resilience and strong delivery on strategic objectives. The listing on Euronext Amsterdam was a milestone for the company enhancing opportunities for growth as well as consolidating its position as a listed leading innovative circular production company with production output made from 87% recycled materials.
New business continues to come in very strong, leading to record sales of over EUR 102.2 million and good expectations going further powered by our customized solutions knowledge and our highly capable innovation center.
Furthermore, Cabka made a major step in the consolidation of its Eco business driving economies of scale. Although the transition temporarily reduced our recycling capacity we are now back on track and the enhanced synergies will pay out. Regretfully, at the start of the third quarter exceptional floods damaged our production facilities in the US. Also, here Cabka showed resilience quickly securing alternative production capacities to maintain supply to key clients."
The first half of 2022 has been characterized by high overall inflation, particularly manifesting itself through significantly higher energy, material, and labor costs. In response Cabka announced multiple rounds of price increases effective per January, April, and August this year.
While the material markets are starting to plateau, or even show some relief, the energy market remains highly volatile, recently moving to new highs. As a result, margins will continue to be impacted short-term until prices stabilize.
That said, we reiterate our mid-term guidance with the note that relative EBITDA margin is subject to inflationary developments.
[1] Systemiq April 2022 report Reshaping plastics. Pathway to a circular climate neutral plastics system in Europe
For more information, please contact:
David Brilleslijper, Investor & Press contact IR@cabka.com , or D.Brilleslijper@cabka.com , +316 109 42514 www.cabka.com
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. 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 employs some 700 FTE in Europe and the US recycling 150 kT of plastics into some 10 million pallets and 200,000 large containers realizing EUR 170m in revenues in 2021 and EUR 102m in the first half of 2022.
Cabka is listed at Euronext Amsterdam as of 1 March 2022 under the CABKA ticker with international securities identification number NL00150000S7.
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.
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Cabka NV published this content on 17 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2022 06:03:02 UTC.