Amsterdam, 20 October 2022. Cabka N.V. (“Cabka” or the “Company”), a leading integrated circular production company listed at Euronext Amsterdam, has published a trading update for the third quarter of 2022.
- Q3 sales of 50 EURm, up 23% compared to same period in 2021
- YTD Q3 2022 sales of EUR 152 million, up 25% compared to same period in 2021
- Sustained high demand, led by strong performance in customized solutions
Cabka experienced continued high demand throughout the third quarter of 2022. The consistently strong order book has led to sales of 50 EURm, representing a 23% increase compared to the same period last year. With 2022YTD sales figures coming in at 152 EURm, the company remains on track to set an annual sales record.
In line with the strategic objectives as laid out at the beginning of the year, Cabka’s top line growth is fueled by an increased focus on long-term commercial contracts in customized solutions. A strong testament to these efforts was made in September, with the supply agreement between Cabka and leading pallet pooling company CHEP, for a collaboratively developed Foldable Large Container (FLC). First revenues from this project are expected by second half of 2023.
The past quarter was also characterized by continued volatility in energy prices, while the material markets started to show some relief. Overall margins are expected to stabilize as energy markets return to more constant levels. With that in mind, we remain committed to our previously communicated mid-term guidance.
Financial Reporting Calendar
15 March 2023 Publication preliminary full year results 2022 Cabka N.V.
25 April 2023 Publication Annual Report 2022 and Trading Update first quarter 2022
22 August 2023 Publication Half Year Results 2023
For more information, please contact:
David Brilleslijper, Investor & Press contact
IR@cabka.com, or D.Brilleslijper@cabka.com,
+316 109 42514
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. 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 employs some 700 FTE in Europe and the US recycling 150 kT of plastics into some 10 million pallets and 200,000 large containers realizing EUR 170m in revenues in 2021 and EUR 102m in the first half of 2022.
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.