Newsletter Q2 2024

Dear shareholders,
Ladies and Gentlemen,

Currently, our entire Finance & IR team at Blue Cap is focused on finalizing our annual report, which will be released by the end of April. In it, we will provide you with comprehensive insights into our strategy, our portfolio companies, and, of course, our financial metrics. However, we don't want to miss the opportunity to offer you a glimpse into our daily operations in this quarter’s newsletter.

The early months of the year have been marked by numerous trade fairs involving our portfolio companies – a reflection of which can also be seen in our "Portfolio News." Within the "Blue Cap Insights" section, you'll find an engaging interview with our two board members on the topic of M&A. We warmly invite you to delve deeper into the subject of text automation through Artificial Intelligence at our subsidiary, Transline, in our "Portfolio Deep Dive."

Please contact us if you have any questions or suggestions at ir@blue-cap.de.

We wish you an interesting read and thank you for your interest!

Your Blue Cap team

Blue Cap Insights

In an interview, Dr. Henning von Kottwitz (CEO) and Henning Eschweiler (COO) discuss the adjusted acquisition focus of Blue Cap and when a company is considered exit-ready in our opinion.

Portfolio News

_con-pearl: The beginning of the year was characterized by "get logistics rolling". Whether it was the E-Commerce Berlin Expo, Handelslogistik Kongress Cologne, MODEX Atlanta USA, or LogiMAT Stuttgart, con-pearl has been setting logistics in motion and presented the "Mobile Transport System" in various designs, configurations, and formats. This product, with its 100% recyclability, also aligns with the company's expertise in circular economy.

_H+E: The consolidation of sites initiated in recent months was successfully completed as planned by the end of the first quarter. Within a short period, a site was relocated while serial production was ongoing, without causing any critical supply disruptions for the OEMs.

_Neschen: In February of this year, Neschen successfully participated in two important trade fairs as part of intensifying its engagement in the Industrial Applications business unit: the JEC World in Paris and the tff/silicone expo in Amsterdam. An additional highlight in March was the global leading trade fair FESPA Global Print Expo 2024 in Amsterdam, which is of crucial importance for the Graphics business unit.

_Planatol: The merger of the two companies, Planatol GmbH (adhesives) and Planatol System (adhesive application systems), was completed in August 2023. The "cultural" integration of the two divisions under the slogan "Adhesive meets Application" is in full swing and shows promising initial development approaches for new product lines in the packaging industry, which Planatol will present at Drupa 2024 at the end of May.

_HY-LINE: A new corporate identity for HY-LINE will make the strategic realignment visible to the outside world. In preparation for their key trade fair, the Embedded World in April, a rebranding effort and website refresh are underway.

Portfolio Deep Dive

We dive deep into the translation of international e-commerce texts and demonstrate how our portfolio company, Transline, utilizes artificial intelligence to provide customers with the best possible solution.

Capital market and share

_1 In an ad-hoc announcement, we disclose that we expect an adjusted EBITDA margin above our forecast range. Subsequently, our analysts have published an update to their estimates. You can find the analyst ratings on our website.


_2 boersengefluester.de also picks up on the forecast announcement and writes an article about us (see below).


_3 On March 13th, we release our preliminary financial figures for 2023 and discuss them in an Earnings Call. Please revisit the press release here (see below). Our analysts have also provided updates – both have slightly adjusted their forecasts upwards and confirmed the buy rating. Additionally, 4investors has published an article (see below) about Blue Cap.


_4 Blue Cap is featured on the podcast "What's up, Corporate Finance?" where Henning Eschweiler (COO) answers questions about our strategy. You can listen to it on various platforms, including Spotify, and wherever podcasts are available (see below).

Market capitalization (31 Mar 2024): € 83 mn
1-year performance (31 Mar 2024): -23%
3-year performance (31 Mar 2024): 31%

Share price development of Blue Cap AG in index comparison from 01/01/2024 to 03/31/2024, in %
Sources: Stock Exchange Frankfurt (XETRA)

Upcoming dates *)

End of April 2024: Publication Annual Report FY 2023
25 April 2024: 37th MKK – Munich Capital Markets Conference, Munich
13-15 May 2024: Equity Forum Spring Conference, Frankfurt/Main
24 June 2024: Annual General Meeting, Munich (physical)
03 July 2024: m:access Conference Investment Companies, Munich


*) expected

Hello, my name is Annika Küppers

Investor Relations & Corporate Communications


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