16 November 2021 – 12:00
Publication of inside information in accordance with Art. 17 (1) of the Market Abuse Regulation (EU) 596/2014

Munich, 16 November 2021 Today, Blue Cap AG concluded an agreement for the sale of its 100% stake in Carl Schaefer Gold- und Silberscheideanstalt GmbH (Carl Schaefer) to Bauer-Walser AG. The purchase price is in the lower single-digit-million range.

The sale of the company corresponds to an annual return on the capital invested (internal rate of return) of around 20% and a multiple on capital employed of around 3.1x. The property will remain in Blue Cap’s ownership for the time being and can be sold separately at a later date. Total potential earnings should be just over the net asset value measurement of EUR 4 million as of 30 June 2021.

Bauer-Walser AG, based in Keltern, Pforzheim, operates in the field of precious metal recycling, precious metal trading and the production and distribution of semi-finished precious metal products and dental products. Carl Schaefer specialises in the recycling of precious metals and boasts an extensive range of semi-finished precious metal products such as wires, rolled sections, sheets and tubes, as well as finished goods.

Taking this transaction into account, Blue Cap has adjusted its forecast for 2021 as a whole. As Carl Schaefer will be sold with effect as of 30 September 2021, consolidated earnings for 2021 as a whole will be lower and are expected to be between EUR 255 million and EUR 260 million (previous outlook: lower end of the forecast range of EUR 265 million to EUR 275 million). Management is maintaining its estimate of an adjusted EBITDA margin at the lower end of the forecast range of 8% to 9%. This sale marks the closure of the Metal Technology segment.

Further information on this transaction can be found in the press release published by Blue Cap AG today.