Cabka starts year with strong growth in first quarter
25/04/2023 06:30
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230425:nGNE8d5cRz&default-theme=true * Sales in the first quarter amounted to € 55.4 million up 11% * Frank Roerink nominated to Management Board * Annual Report 2022 published Amsterdam 25 April 2023. 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 first quarter 2023 trading update. Commercial Performance Sales performance in the first quarter of 2023 was solid across all business segments, especially driven by strong continued recovery in the US, where the resumption of operations after the flooding of 26 July 2022 is proceeding according to plan. Overall, total sales were up 11% Y-o-Y, in line with the previously communicated growth objective of high single digits, resulting in a total sales volume in the first quarter of € 55.4 million (2022Q1: € 49.9 million). Frank Roerink nominated as CFO for Management Board The Supervisory Board of Cabka N.V. will nominate Mr. Frank Roerink (1969) as member of the Management Board and CFO of Cabka N.V. at the 8 June 2023 Annual General Meeting of Shareholders (AGM). Frank Roerink was appointed interim-CFO of Cabka on 1 February 2023. For more information on Frank Roerink please refer to the press release of 26 January 2023. The full agenda of the AGM will be published on 27 April 2023. Annual Report 2022 published Cabka publishes its financial report for the accounts of Cabka N.V. 2022, today. The report including Cabka’s first ESG report can be found and downloaded as PDF on the investor section of the Cabka website under Reports & Presentations (https://www.globenewswire.com/Tracker?data=Jon0jzuXeb3g0Mxd0fdujexoymHARFRAKHrSIzNGCSDP327z8FNTDsjoz992GOfPIBJoAsVwg0kpxxdp1PcDLSVDXuSO0ZEZSajh_NFZzHah7L2hgLFgJ4_5loOyO-8ihZd39nBFOYOCP3FzIHRmLXJJ4BNXN4tKKRQFj-AMqV8xxBszf324cYhX85fNM_nd). Outlook We reiterate our guidance for full year 2023 of high-single digit sales growth, with a recovery of EBITDA margin towards 13-15%, barring unforeseen circumstances, as stated in our preliminary results on 15 March 2023. Financial Calendar 2023 * 8 June Annual General Meeting * 13 June Capital Markets Day * 17 August Ex-Dividend* Date * 18 August Dividend* Record Date * 22 August Publication Half Year Results 2023 * 25 August Dividend* Payment Date * 19 October Trading Update Q3 2023 * 20 March 2024 Publication Preliminary Results 2023 * Reference to ‘dividend’ refers to proposed distribution For more information, please contact: David Brilleslijper, Investor & Press contact IR@cabka.com, or D.Brilleslijper@cabka.com, +316 109 42514 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 products 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 * 20230425_Cabka 2023 Q1 trading update (https://ml-eu.globenewswire.com/Resource/Download/24b39255-d120-42c8-ba1a-6c895752d792)