Fulda, November 4, 2025 – The German Federal Financial Supervisory Authority (BaFin) has determined in an unscheduled audit that the consolidated financial statements of KAP AG prepared and published in accordance with International Financial Reporting Standards (IFRS) as of December 31, 2023, contain three errors. KAP AG comments on this as follows:
- The errors identified by BaFin did not result in KAP AG having to make any changes to its 2023 IFRS consolidated financial statements.
- From KAP AG's perspective, all of the issues are minor and were certified in the 2023 IFRS consolidated financial statements.
- The presentation of EUR 1.1 million as other operating income, which was criticized by BaFin, would have resulted in an increase in the previous year's net profit. This means that the amount of equity in 2023 and in all subsequent years would not have changed.
- The total remuneration of the members of the Management Board and Supervisory Board was disclosed in both the remuneration report and the individual financial statements of KAP AG. However, it was disclosed in the IFRS consolidated financial statements, which was criticized by BaFin.
Marten Julius, Spokesman for the Management Board of KAP AG: “We cooperated closely with BaFin. Even though we consider our accounting practices to be appropriate and regard the findings as minor, we have decided not to appeal against them. We are taking BaFin's findings as an opportunity to continue working consistently on the quality and transparency of our financial reporting.”
The errors identified relate exclusively to the 2023 financial year, and due to the ongoing audit at the time, these were already taken into account in the 2024 consolidated financial statements, which were published in April 2025. In this respect, corresponding errors are excluded from future consolidated financial statements.
Contact:
KAP AG
Kai Knitter
Head of Investor Relations & Corporate Communications
investorrelations@kap.de
+49 661 103 327
About KAP AG
KAP AG is a listed industrial holding company focused on upper mid-size operating companies. Specifically, KAP AG currently focuses on three core segments: flexible films, engineered products and surface technologies. KAP AG currently has some 1,600 employees at 19 locations in ten countries. With active investment management, KAP focuses on continuously optimizing the existing portfolio and creating value. At the same time, the individual strengths and identities of the companies operating successfully on the market are preserved. KAP AG’s shares are listed on the Regulated Market of the Frankfurt Stock Exchange (General Standard, ISIN DE0006208408).