Notable recovery with Q3 sales up 8% versus last year
PRESS RELEASE
Amsterdam 21 October 2024. Cabka N.V. (together with its subsidiaries “Cabka”, or the “Company”), a company specialized in transforming hard to recycle plastic waste into innovative Reusable Transport Packaging (RTP), listed at Euronext Amsterdam, announces its trading update for the third quarter of 2024.
Sales for Q3 increased 8% to € 42.4 million compared to the same quarter last year (Q3 2023: € 39.3 million), showing a gradual recovery despite soft market conditions. Total sales year-to-date amounted to € 135 million, still 6% behind last year (YTD 2023: € 144 million), due to very weak sales in Q1.
Our RTP Portfolio in Europe and in the US continued to perform well, both growing respectively by 16% and 12% year-to-date. Customized Solutions in Europe held firm and grew steadily with 4% year-to-date considering the market conditions, whilst in the US our Customized Solutions continued to suffer from restricted CAPEX spending of some of our key customers.
The ECO business delivered solid growth of 6% year-to-date. Contract Manufacturing and other non-strategic sales, however, did not recover from the weak demand in the beginning of the year, showing a decline of 45% (quantified decline of € 9.9 million) compared to last year.
Alexander Masharov commented: “We are pleased to achieve a good Q3 despite challenging conditions earlier this year. Now we are focused to complete Q4 and committed to build on the foundation to present growth for 2025.
For the full year 2024, we are on track to deliver our sales guidance of € 180 - 185 million, with our EBTDA margin in the range of 13–15%.”
Upcoming events
On 25 November 2024, the company will host its Capital Markets Day at its production location in Ieper, Belgium. CEO, Alexander Masharov, will share with you the updated Business Strategy 2030 and future growth plans.
Financial Calendar 2024/2025
| Trading Update Q3 2024 |
| Capital Markets Day |
| Publication Preliminary Results 2024 |
| Publication of Annual report 2024 and Trading Update Q1 2025 |
| Annual General Meeting of Shareholders |
For more information, please contact:
Nadia Lubbe, Investor & Press contact
IR@cabka.com, or n.lubbe@cabka.com
+49 152 243 254 79
www.investors.cabka.com
Commercial contact:
info@cabka.com
www.cabka.com
About Cabka
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. ECO product are mainly construction and road safety products produced exclusively out of post-consumer waste.
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 is listed at Euronext Amsterdam as of 1 March 2022 under the CABKA ticker with international securities identification number NL00150000S7.
Disclaimer
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.
Readers are cautioned that any forward-looking statements are not guarantees of future performance. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this press release. The Company undertakes no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by law.
This document contains information that qualifies as inside information within the meaning of Article 7(1) of Regulation (EU) No 596/2014 on market abuse.
Attachment
