Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Blue Cap AG is a Munich-based listed investment company founded in 2006, specializing in acquiring and actively managing medium-sized B2B niche companies, primarily in the DACH region (Germany, Austria, Switzerland). Operating under a 'buy, transform, sell' strategy, it targets firms with sales between €20-200 million, EBITDA margins of 0-5%, and clear potential for earnings improvement through strategic and operational support in areas like growth, cost optimization, digitization, and sustainability. Its portfolio spans diverse segments including Plastics, with companies like con-pearl GmbH in recycling and lightweight boards, and Uniplast Knauer in food packaging; Adhesives and Coatings, featuring Neschen Coating and Planatol for industrial self-adhesive and solvent-free products; and Business Services such as HY-Line Group in electronics components. Blue Cap AG emphasizes portfolio company autonomy while providing cross-industry expertise to enhance value, securing liquidity, and pursuing profitable exits after 3-7 years, playing a key role in transforming SMEs facing special situations within European private equity markets.
Operating margin is thin at 0.71%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 5.9% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 37% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
€206M
▼ -5.9% YoY
Net Income (TTM)
€12M
▲ +160.3% YoY
Op. Margin
0.71%
▲ +1.3pp YoY
ROIC
0.64%
▲ +1.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€6M
▼ -37.0% YoY
Op. Cash Flow (TTM)
€10M
▼ -30.5% YoY
Net Debt
€21M
Cash & Equiv.
€54M
3Y CAGR: -8.3%
3Y CAGR: -1.6%
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