Newsletter Q3 2023
Dear shareholders,
Ladies and Gentlemen,
Skills shortage and New Work have not only changed our working world since yesterday. Therefore, in our group of companies, the question arises how medium-sized companies can retain their employees and become even more attractive to potential employees. We have anchored the topic of "People & Culture" as a fixed component of the transformation in our portfolio companies. For this newsletter we spoke to our colleague Carolin Scheffer (Director People & Culture) about employer branding and corporate culture. We also take a look at our portfolio and present an innovation from our portfolio company HY-LINE in our "Portfolio Deep Dive" category.
If you have any questions, criticism or suggestions, please write to us at any time at ir@blue-cap.de.
We wish you interesting reading and thank you for your interest!
Your Blue Cap Team
Blue Cap Insights
Corporate culture as part of the transformation? Yes! Carolin Scheffer (Director People & Culture of Blue Cap AG) tells how our portfolio companies position themselves as attractive employers and what role the executives of the Blue Cap portfolio companies play in the transformation process.
Portfolio News
_con-pearl recently expanded its own recycling capacities: with the acquisition of a new plastics recycling plant at the Leinefelde site and the relocation of the previous Erema plant to the second site in Hillscheid, the recycling capacities were significantly increased – in Leinefelde by 25% and in Hillscheid even by 150%. This corresponds to a total increase of 8,000 tons per year.
_HY-LINE: The transformation to ONE HY-LINE is in full swing. After the employees also mapped the new team structures spatially as part of the implementation of the new organizational structure, the most recent important milestone was to officially approve the corporate strategy for the next few years and communicate it to the entire workforce.
_By the end of May, Neschen laid off around 10% of its employees. In addition to streamlining and making production more flexible, the job cuts are primarily aimed at increasing efficiency in administration and sales. It is part of a comprehensive "fitness program" to reduce costs and increase performance.
_Changes in the top management levels: Maximilian Lachnit took over the management of Transline as Managing Director on July 1, 2023. Planatol also has a new Managing Director in Peter Prinz who has started his position in July.
Portfolio Deep Dive
Innovation begins with the power supply. Essential in many areas of our lives, including medical technology. After all, engineers in the development of medical products or the technical managers in a clinic depend on the devices running perfectly. This is a typical use case for HY-Di: a smart battery system developed by our portfolio company HY-LINE.
Capital market and share
_1 On May 4th we publish the Annual Report 2022 and the proposal for a dividend of EUR 0.90 per share, which will be structured as a Scrip Dividend for the first time this year. Boersengefluester.de publishes a comment on this event on the same day (see below).
_2 Our Q1 key financial figures are in line with expectations: the portfolio companies have developed solidly overall in an economically restrained environment.
_3 Our analysts from SMC Research and Warburg Research process the current financial figures in an update of their analysis. Both confirm the buy rating. Here are the analyst estimates (see below).
_4 We are selling our 100% interest in Uniplast as part of a management buy-out. The total proceeds are above the level of the net asset value of the portfolio company as of December 31, 2022. You can find more information in our press release (see below).
_5 SMC Research processes the news about the successful exit of Uniplast in an update (buy, EUR 36).
_6 On June 23, our Annual General Meeting approves the proposed dividend of EUR 0.90 per share.
_7 Trading Blue Cap ex-dividend and ex-right trading.
Market capitalization (30 June 2023): € 101 mn
1-year performance (30 June 2023): -9%
3-year performance (30 June 2023): 26%
Sources: Stock Exchange Frankfurt (XETRA)
Upcoming dates *)
21 July 2023: Payment of dividend
22 August 2023: Publication Half Year Report 2023
23 August 2023: 10th Hamburg Investment Day – HIT
27 – 29 November 2023: German Equity Forum Deutsches Eigenkapitalforum 2023
*) expected
