KBA Reports 2008 Sales and Profit Targets No Longer Attainable

On current form, sales of web and special presses will exceed targets. Nevertheless, the profit generated will not be sufficient to balance the sheetfed division's operating loss enlarged by provisions for restructuring measures and value adjustments.

The increase in sheetfed orders anticipated in connection with a sizeable volume of contracts negotiated at Drupa has failed to materialise. Particularly in the USA, but also in other countries affected by the present financial crisis and economic downturn, it is still proving difficult for printers to obtain corresponding funding. The already perceptibly reduced demand in the print media industry has softened further since summer 2008. This has impacted on all press manufacturers, and at KBA also on the web and special press divisions.