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
21 October 2024
Trading Update Q3 2024
25 November 2024
Capital Markets Day
18 March 2025
Publication Preliminary Results 2024
15 April 2025
Publication of Annual report 2024 and Trading Update Q1 2025
29 May 2025
Annual General Meeting of Shareholders