Financials Blue Cap AG

Equities

Market Closed - Xetra Other stock markets 09:06:00 07/05/2024 pm IST			5-day change	1st Jan Change
18.4 ^EUR	+0.55%		+2.79%	+3.95%

24/04	Blue Cap AG Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Blue Cap Appoints New Chairman/CEO	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	66.86	70.94	136.3	109	79.47	82.62	-	-
Enterprise Value (EV) ¹	66.86	112.7	92.95	72.33	79.47	135.6	129.2	82.62
P/E ratio	-	4.28 x	25 x	8.92 x	-4.4 x	38.9 x	15.4 x	11 x
Yield	4.46%	4.23%	2.74%	3.63%	-	4.92%	5.19%	6.01%
Capitalization / Revenue	-	0.3 x	0.51 x	0.31 x	0.29 x	0.3 x	0.27 x	0.26 x
EV / Revenue	-	0.48 x	0.35 x	0.21 x	0.29 x	0.49 x	0.43 x	0.26 x
EV / EBITDA	-	6.4 x	3.77 x	2.38 x	3.43 x	5.47 x	4.48 x	2.5 x
EV / FCF	-	17.5 x	12.3 x	6.61 x	-	12.4 x	13.9 x	6.77 x
FCF Yield	-	5.72%	8.15%	15.1%	-	8.04%	7.2%	14.8%
Price to Book	-	0.88 x	1.46 x	1.05 x	-	0.8 x	0.78 x	-
Nbr of stocks (in thousands)	3,980	3,997	4,396	4,396	4,490	4,490	-	-
Reference price ²	16.80	17.75	31.00	24.80	17.70	18.30	18.30	18.30
Announcement Date	-	04/05/21	27/04/22	04/05/23	24/04/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	233	267.3	347.5	273.3	279.2	301	313.4
EBITDA ¹	-	17.62	24.65	30.38	23.18	24.8	28.85	33.1
EBIT ¹	-	8.892	13.32	16.33	6.393	14.5	14.6	14.6
Operating Margin	-	3.82%	4.98%	4.7%	2.34%	5.19%	4.85%	4.66%
Earnings before Tax (EBT) ¹	-	17.52	5.099	14.84	-17.89	2.9	7.35	10.2
Net income ¹	-	16.57	5.153	12.2	-17.82	2	5.3	7.5
Net margin	-	7.11%	1.93%	3.51%	-6.52%	0.72%	1.76%	2.39%
EPS ²	-	4.150	1.240	2.780	-4.020	0.4700	1.190	1.670
Free Cash Flow ¹	-	6.453	7.575	10.94	-	10.9	9.3	12.2
FCF margin	-	2.77%	2.83%	3.15%	-	3.9%	3.09%	3.89%
FCF Conversion (EBITDA)	-	36.63%	30.74%	36.01%	-	43.95%	32.24%	36.86%
FCF Conversion (Net income)	-	38.94%	147%	89.63%	-	545%	175.47%	162.67%
Dividend per Share ²	0.7500	0.7500	0.8500	0.9000	-	0.9000	0.9500	1.100
Announcement Date	-	04/05/21	27/04/22	04/05/23	24/04/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	41.8	-	-	-	53	46.6	-
Net Cash position ¹	-	43.3	36.7	-	-	-	-
Leverage (Debt/EBITDA)	2.371 x	-	-	-	2.137 x	1.615 x	-
Free Cash Flow ¹	6.45	7.58	10.9	-	10.9	9.3	12.2
ROE (net income / shareholders' equity)	6.57%	5.95%	12.4%	-	2%	5.6%	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share ²	20.10	21.20	23.60	-	22.90	23.60	-
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	6.29	5.32	6.06	-	12.1	10.5	11.4
Capex / Sales	2.7%	1.99%	1.74%	-	4.33%	3.49%	3.64%
Announcement Date	04/05/21	27/04/22	04/05/23	24/04/24	-	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

18.3 EUR

Average target price

31.6 EUR

Spread / Average Target

+72.68%

	1st Jan change	Capi.
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