to 2019, to roughly EUR54.6 million as at the end of the 2020 financial year (previous year: EUR88.9 million). Cash inflows 
increased substantially in 2020 due to successful initiatives for improving working capital management and due to 
diligent investment management. The free cash flow rose by 76.3% to EUR34.2 million (previous year: EUR19.4 million). 
Positive outlook for 2021 
The Management Board will continue the strategic realignment of the KAP Group consistently in 2021. The aim of it is to 
create the basis for a long-term, sustainable improvement in profitability. The focus of this process is mainly on 
strengthening sales, maintaining efficiency initiatives and optimising the portfolio with targeted mergers and 
acquisitions. The Management Board is forecasting revenue between EUR300 and 330 million and normalised EBITDA of EUR27 to 
33 million for the continuing operations (excluding the it/services segment) for the 2021 financial year. This forecast 
does not consider impacts from the Covid-19 pandemic that cannot be foreseen beyond the first half of 2021. 
The 2020 Annual Report is available to download at: https://www.kap.de/en/investor-relations/reports/annual-reports. 
Contact: 
KAP AG 
Marten Julius (CFO) 
E: m.julius@kap.de 
T: +49 661 103 715 
Kirchhoff Consult AG 
Nicole Schüttforth 
E: nicole.schuettforth@kirchhoff.de 
T: +49 40 609 186 64 
 
About KAP AG 
KAP AG is a listed industrial group in the upper midsize market that offers attractive growth opportunities in its 
respective niche markets. KAP AG focuses on four different business areas: engineered products, flexible films, surface 
technologies and precision components. Through targeted acquisitions, the company strengthens its existing business 
areas or exploits new market opportunities. KAP allows its shareholders to participate in its long-term profitable 
growth through a stable dividend. The group currently has 29 locations and around 2,700 employees in 12 countries. The 
shares of KAP AG are listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard, ISIN 
DE0006208408). 
 
=---------------------------------------------------------------------------------------------------------------------- 
2021-04-23 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      KAP AG 
              Edelzeller Straße 44 
              36043 Fulda 
              Germany 
Phone:        06611030 
Fax:          0661103830 
E-mail:       office@kap.de 
Internet:     www.kap.de 
ISIN:         DE0006208408 
WKN:          620840 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Stuttgart, Tradegate Exchange 
EQS News ID:  1187843 
 
End of News   DGAP News Service 
=------------

1187843 2021-04-23


 
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(END) Dow Jones Newswires

April 23, 2021 09:14 ET (13:14 GMT)