Amsterdam, February 21, 2025 – Cabka N.V., a Euronext Amsterdam-listed company specializing in transforming hard-to-recycle plastic waste into innovative Reusable Transport Packaging (RTP), has released its preliminary update for 2024.

Cabka anticipates full-year 2024 sales to be approximately €182 million, aligning with the previously projected range of €180 – €185 million.

In Europe, the Portfolio business experienced an 8% year-over-year increase, which includes planned price adjustments of about 4%. The European customized solutions business demonstrated relative resilience despite market challenges. The US Portfolio business saw a 10% growth in 2024, attributed to a successful commercial strategy and regained market share achieved through strengthening the regional sales team. The ECO business showed solid growth of 4% compared to the previous year.

Full-year 2024 sales in the US Customized Solutions segment decreased by €13.5 million due to capital expenditure limitations by key clients. Contract Manufacturing faced an €11.4 million decline because of weak demand in customer end markets.

Cabka’s 2024 sales totaled €182 million, reflecting an 8% decrease from 2023 (€197 million). Excluding the declines in US Customized Solutions and Contract Manufacturing, the company achieved an underlying growth of 4.5%.

The company’s gross margin improved significantly by 3 percentage points to 51.3%. The second half of 2024 saw a further improvement of 2 percentage points compared to the same period last year, though the rate of gross margin improvement began to stabilize towards the year’s end.

Ongoing initiatives focus on enhancing operational efficiencies and strengthening the sales organization. The full impact of these improvements was not yet fully reflected in the year-end EBITDA margin. EBITDA is expected to be in the range of 11% to 12%, which is below the projected guidance of approximately 13%.

Given the challenging market conditions and financial headwinds encountered in 2024, Cabka has reassessed its capital allocation strategy to ensure long-term business sustainability and growth. Following an evaluation with the Supervisory Board and consultations with major shareholders, the company has decided against paying a dividend for the 2024 financial year. This decision reflects a commitment to maintaining financial stability, strengthening the balance sheet, and ensuring sufficient cash generation to support ongoing operational and strategic initiatives. While shareholder returns are valued, the current financial environment necessitates a cautious approach to capital distribution.

The company plans to release a comprehensive update on March 18, 2025, coinciding with the publication of its full-year preliminary results for 2024.

Financial Reporting Calendar 2025

  • March 18 Publication of Preliminary Results 2024
  • April 15 Publication Annual Report 2024 and Trading Update 2025Q1
  • May 29 Annual General Meeting of Shareholders
  • August 12 Half-Year Results and Half-Year Report 2025
  • October 21 Trading Update 2025Q3

For more information, please contact:

Nadia Lubbe, Investor & Press contact

+31 6 21 51 54 52
investors.cabka.com

About Cabka

Cabka specializes in recycling post-consumer and post-industrial plastics into innovative reusable transport packaging (RTP), such as pallets and large container solutions, to improve logistics chain sustainability. Its ECO products primarily consist of construction and road safety materials manufactured exclusively from post-consumer waste.

Cabka leads the industry with its integrated approach, closing the loop from waste to recycling to manufacturing. Supported by its own innovation center, the company possesses unique industry knowledge, capabilities, and capacity to maximize the use of recycled plastics back in the production loop at attractive returns. Cabka is fully equipped to leverage the entire value chain from waste to end-products.

Cabka has been listed on Euronext Amsterdam since March 1, 2022, under the ticker CABKA with international securities identification number NL00150000S7.

Disclaimer

This press release may contain “forward-looking statements,” identifiable by terms such as “believes,” “estimates,” “plans,” “projects,” “anticipates,” “expects,” “intends,” “may,” “will,” or “should,” including their negative forms, variations, or similar language, as well as discussions of strategy, plans, objectives, goals, future events, or intentions. Such statements may differ materially from actual results and reflect the Company’s current views on future events, subject to risks, uncertainties, and assumptions related to the Company’s business, results of operations, financial position, liquidity, prospects, growth, or strategies.

Readers are cautioned that these statements are not guarantees of future performance and should not be unduly relied upon. They are relevant only as of the publication date of this press release. The Company is not obligated to update or revise this information, including any forward-looking statements, unless 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.

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