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KBA Financially On Target with Nine-Month Figures

November 14, 2012
WÜRZBURG, GERMANY—Nov. 14, 2012—Notwithstanding the current economic slowdown, Koenig & Bauer AG (KBA) disclosed in its third-quarter report generally positive figures for the world’s second-largest press manufacturer. In his letter to the shareholders, President and CEO Claus Bolza-Schünemann says, “We are on target as far as the whole year is concerned.”

For the first three quarters KBA released an increase in group sales to €916.2 million, 16.6 percent up on the previous year. Beside its core sheetfed and web offset press business, the company is also active in less economy-dependent markets such as packaging, security, digital printing as well as marking and coding.

Even though sheetfed orders were up 10 percent on 2011 thanks to the tradeshow Drupa, order intake of €826 million failed to achieve last year’s record high of €1,155.7 million boosted by several major orders for special presses. At €735.5 million order backlog at the end of September saw a €171 million increase on the corresponding figure for 2010, but failed to meet last year’s figure by €75 million (2011: €810.8m).

Substantial increase in earnings

Following a loss of €20.4 million the previous year, operating profit stands currently at €20.5m, an improvement of over €40m. Pre-tax earnings (EBT) soared to €12.5 million compared to the half-year figure of €7.9 million and also the prior-year loss of €26.6m. After tax, the group posted a net profit of €5.9m, which corresponds to earnings per share of €0.36.

Sheetfed orders up thanks to Drupa

In the meantime KBA is also feeling the effects of the economy-related weak demand in key markets that affect the entire engineering industry. Thanks to the industry’s leading trade fair Drupa in May sheetfed order intake after nine months at €517.8 million exceeded last year’s figure by nearly 10 percent. Sales of sheetfed presses came to €395.4m, close to the figure in 2011.

The positive effect of Drupa on sales will be more noticeable in the fourth quarter. High development and launch costs for new press generations in all formats, continuing pricing pressures and below-target sales caused the sheetfed division to post a loss of €21.4m.

Higher web and special press sales

At €308.2 million the volume of orders for web and special presses was about 55 percent below last year’s extraordinary high of €683.7 million which was boosted by a number of major orders. Web press orders for newspaper and commercial printing were hit by the growing importance of online media which enforced economy-related reluctance to invest.
 

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