KBA Posts Profit for 2009, Targets Modest Sales Increase in 2010
Outlook for 2010: modest growth and profit
KBA president and CEO Helge Hansen says: “The world economy remains fragile. While productivity-boosting investment among printers no longer declined over the past few months, neither did it soar. With banks and leasing companies continuing to exercise the utmost caution, financing remains an obstacle for many firms. As a result many prospective investors have adopted a watching brief, which has impacted on new orders. While this will change as the economy rebounds, what will remain are the effects on our business of the structural transition in the media industry. Our realignment was a response to medium-term market realities, and we are delighted to have made such speedy progress in 2009 that we look set to complete the necessary consolidation within the next few months. More limited growth prospects notwithstanding, we remain committed to our core business of press technology, while expanding into other sectors offering additional revenue and development potential. We are confident that our highly trained staff, wide-ranging experience in the global marketplace and healthy finances furnish a sound basis for such a move. Initial decisions can be expected by the middle of the year. Markets permitting, and provided the current financial and economic instability produces no additional setbacks, we are targeting a modest improvement in group sales and profits for the year. A more detailed projection will be issued at a later date.”
The financial statements can be downloaded as a PDF file from http://www.kba.com/en/investor/berichte/09.html
Disclaimer The projections contained in this press release were founded on data available at the time of issue. While management believes them to be accurate, the impact of external factors beyond its control, such as changes in the economy, exchange rates and the print media industry, may give rise to a different outcome from that projected. KBA therefore accepts no liability for transactions based upon these projections.