KBA News Feed http://www.koenig-bauer.com/ en Koenig & Bauer AG Sat, 18 Aug 2018 17:55:14 +0200 Sat, 18 Aug 2018 17:55:14 +0200 news-1095 Wed, 01 Aug 2018 06:58:00 +0200 Strong order intake of €454.4m in the second quarter https://uk.koenig-bauer.com/news/details/article/starker-auftragseingang-von-4544-mio-EUR-im-zweiten-quartal/
  • 17.2% rise in orders in H1
  • Large orders in security printing and order gains in packaging printing
  • Greater accumulation of deliveries in H2 than in the previous year
  • EBIT below prior year due to delivery-related lower revenue
  • With a book-to-bill ratio of 1.37 order backlog grows to an extraordinarily high €805.8m
  • Good cash flows from operating activities of €17.4m
  • Equity ratio of 35.6%    
  • With order intake reaching a particularly high €454.4m in the second quarter and the order backlog rising to €805.8m at the end of the first half, the Koenig & Bauer Group is on track to meet its targets for 2018. Strong security business and more orders in packaging printing caused order intake to rise by 17.2% to €705.3m in the first half of 2018 (2017: €601.9m). Driven by the good Q2 figure of €297.1m, group revenue came to €514.4m but fell short of the previous year’s figure of €538.9m due to the even greater accumulation of delivery dates in the second half of the year. This was also reflected in EBIT, which at €10.6m was lower than in 2017 (€16.3m).

    Weltneuheit: Flachbettstanze Ipress 106 K PRO mit bewährtem Anleger der Rapida-Maschinen für den wachsenden Faltschachtelmarkt (1)

    Sheetfed expands market leadership in large-format

    The Sheetfed segment reached a strong order intake of €326.3m, exactly matching the previous year’s figure, which had been influenced by the Print China fair. President and CEO Claus Bolza-Schünemann: “Substantial growth was achieved in large-format cardboard printing. As the world market leader in folding carton printing, we are benefiting from heightened capital spending of the international packaging printers.” EBIT of €7.7m was below the previous year’s figure (€12.1m) due to the delivery-related decline in revenue from €307.8m in 2017 to €283m.

    Despite the encouraging growth in new business in flexible packaging, orders in Digital & Web (€84.7m) were slightly down on the previous year (€85.7m) due to fewer orders for newspaper web presses and services. In addition to the market-entry costs for corrugated and flexible packaging in particular, EBIT was significantly burdened by the decline in revenue from €68.3m to €55.8m. CFO Mathias Dähn: “This was materially due to the decline in revenue from digital printing presses as a result of subdued demand. However, we see significantly greater short and medium-term potential in the large corrugated and foil printing markets, which are expanding at above-average rates. The targeted expenses required for future growth will leave traces on our cost position, exerting pressure on segment earnings.”

    Driven by large orders in security printing and growth in marking and coding, order intake in the Special segment rose by 52.8% to €330.6m (2017: €216.3m). With revenue rising slightly from €189.2m to €195m, EBIT came to €14.4m, thus matching the previous year’s figure (€14.6m). President and CEO Claus Bolza-Schünemann: “With the major order received from Giesecke+Devrient for the delivery of several press lines for the production of ultra-secure banknotes in Egypt, we have a high degree of capacity utilisation in security printing until well into 2019.”

    Strong financial and balance sheet profile

    Cash flows from operating activities rose substantially over the previous year (€–20m) to €17.4m. The free cash flow was burdened by the final payment instalment of €34.8m made in Q1 for the external funding of a part of the pension provisions. In addition to net liquidity of €48.1m and securities of €14.6m that can be liquidated at any time, the group also has access to syndicated credit facilities. The equity ratio stood at 35.6% at the end of the first half of 2018.

    Nach anstehender Kundenabnahme Auslieferung der digitalen CorruJET-Bogenmaschine an bekannten Wellpappendrucker (2)

    Group targets for 2018

    In 2018, the management board expects to achieve organic growth of around 4% in group revenue and an EBIT margin of around 7%. With many projects still in the pipeline in all business fields, the forecast is based on the high order backlog of €805.8m as of the end of the first half year together with further progress being made in the group-wide service initiative and the cost-cutting projects in security printing, purchasing and production. These projects should cause earnings to rise by €70m over 2016 by 2021.

    CFO Mathias Dähn: “The achievement of the targets 2018 requires the execution of orders on time in the second half of the year and particularly in Q4 with the accumulation of press installations. Given the high capacity utilisation and external and internal delivery bottlenecks in parts, this is a challenging task to which we pay particular attention. However, we consider it to be particularly important to utilise the opportunities for growth being offered by the market in new press business in order to widen the installed base as the foundation for further growth in service business.”

    Medium-term goals until 2021

    Depending on global economy, end markets and the necessary investments in growth, management is targeting a group-wide organic revenue growth rate of around 4% p.a. and an EBIT margin of between 4% and 9% by 2021. Product innovations in corrugated printing and 2-piece can decorating are not included in the medium-term targets, neither revenue nor costs. President and CEO Claus Bolza-Schünemann: “In addition to our printing, finishing, coding and postpress solutions for cardboard, banknotes, cans, glass and hollow containers and other products, we are particularly focusing on corrugated board and flexible packaging. With the focus on the growing packaging printing, we want to boost our revenue and profitability as well as the stability of our business on a sustained basis.”      

    Figures at a glance 

    The financial statements can be downloaded as a PDF file from here

    en/investor-relations/financial-reports/

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    news-1087 Wed, 25 Jul 2018 08:27:00 +0200 Koenig & Bauer UK appoints Graham Linton as Service Manager https://uk.koenig-bauer.com/news/details/article/kba-uk-appoints-graham-linton-as-service-manager/
    Graham Linton KBA UK Ltd. Service Manager
    KBA UK has promoted Graham Linton to the position of UK Service Manager. Mr Linton takes over the position vacated by Peter Banks who has moved up into the service directors role.

    Graham has been with KBA UK since 2012 working as a Service Project Manager and Service Sales Manager. He has a broad range of engineering and print experience having spent seven years at Man Roland as Service Sales Manager and prior to that working in the aerospace industry.

    Peter Banks - KBA (UK) Service Director
    KBA UK Service Director Peter Banks states: We are delighted that Graham has taken the position of Service Manager. He has vast experience of the printing industry and our customers in particular, his knowledge and professionalism will be a huge benefit as we continue to grow our service team.

     

     

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    news-1069 Tue, 03 Jul 2018 13:37:57 +0200 KBA UK Ltd appoints Ian Clarke as Print Performance Specialist https://uk.koenig-bauer.com/news/details/article/kba-uk-ltd-appoints-ian-clarke-as-print-performance-specialist/  

    Ian Clarke - KBA (UK) Ltd. Print Performance Specialist for the South of England

    KBA (UK) Ltd. has appointed former HDP and Boettcher consumable salesman Ian Clarke as Print Performance Specialist for the South of England

    Mr Clarke, who has worked in the printing industry for over 30 years started his career at Jarrolds in Norwich before taking the step into consumables sales with both HDP and Boettcher. After 5 successful years at Boettcher he joined WRH Marketing an OEM equipment supplier for newspaper mail rooms. Mr Clarke spent the next 5 years as a self-employed technical sales consultant supplying various products such as MIS, gluing and press control systems. He joined book printing press manufacturer Timson in 2012 leaving to join Muller Martini as Technical Sales Manager when the company went into administration in 2015.

    Commenting on his new position Mr Clarke stated “I am really looking forward to returning to the technical side of print, press performance and consumables. I have a great deal of experience in this area from my time with both HDP and Boettcher.” He continues “KBA UK has been really successful in the last few years with a growing install base. This is a very exciting time to be joining the company and presents us with lots of opportunities to grow even further.”

    Andrew Pang - KBA (UK) Ltd. Managing Director

    KBA UK Managing Director Andrew Pang states: “We are very pleased that Ian has decided to join our team. He has a great deal of experience across all aspects of the print trade. This will be very valuable in helping our customers to improve their press performance even further.”

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    news-1064 Wed, 27 Jun 2018 17:19:59 +0200 KBA (UK) Ltd appoints Peter Banks as UK Service Director https://uk.koenig-bauer.com/news/details/article/kba-uk-ltd-appoints-peter-banks-as-uk-service-director/
    Peter Banks - KBA (UK) Service Director

    KBA (UK) Ltd. has promoted former Service Manager Peter Banks to the position of KBA UK Ltd. Service Director.

    Mr Banks, who has been in post as Service Manager since January 2017 has 29 years’ experience in the graphic arts industry having great experience of web press, print finishing and mail room equipment. He has also undertaken project management of major contracts in some of the largest companies in the UK and abroad.

    Commenting on the new position Mr Banks stated “I am looking forward to taking on the challenges that the position of Service Director will bring. The last year or so has given me a really good insight into the KBA (UK) business and hopefully our customers can see that we have been putting together a team and service structure that is based upon continuous improvement.”

    He continues “The presses Koenig and Bauer construct are renowned around the world for their high quality engineering and reliability. For our future successes, in both sales and service, it is vital that our clients always receive the highest levels of customer care. We will continue to put people and procedures in place in order to build on the successes of recent years.”

    Andrew Pang - KBA (UK) Ltd. Managing Director
    KBA UK Managing Director Andrew Pang states: ‘We are delighted that Peter has accepted the position of Service Director of KBA (UK) Ltd. Over the last 18 months he has been instrumental in developing new working practices and procedures that have enabled us to offer ever increasing levels of service and support to all our customers. His professionalism and vast experience will help us to develop our service offering to the UK and Ireland even further.

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    news-1050 Tue, 19 Jun 2018 16:53:59 +0200 Mario Gerber joins the Koenig and Bauer (UK) sales team as Senior Sales Manager for post press equipment https://uk.koenig-bauer.com/news/details/article/mario-gerber-joins-the-koenig-and-bauer-uk-sales-team-as-senior-sales-manager-for-post-press-equipment/
    Mario Gerber, Koenig and Bauer (UK) Ltd. Senior Sales Manager for Post Press Equipment

    Koenig and Bauer (UK) Ltd. has expanded its post press products sales team in order to broaden coverage in the UK market by appointing Mario Gerber as Senior Sales Manager for post press equipment.

    Mr Gerber, who has been employed by Koenig and Bauer since 2016, has vast experience of folding carton manufacturing, having been employed by a large German carton manufacturing company. He will be supported in the UK by Post Press Equipment Product Manager Neil Gaskin and the UK sheet-fed equipment area sales managers. 

    The Koenig and Bauer Ipress 106 K PRO launched at the Industry 4.0 Packaging and Connected Services open house event

    Mr Gerber stated: “I am very excited to be joining the UK sales team. I know the cutting and creasing market in the UK is very demanding and competitive. Customers are always looking for advanced technologies in order for them to increase their market share and to gain an advantage over their competition.”

    He continues: “As well as Iberica’s long heritage in post press equipment, we have exciting products such as the Rapida RDC 106 rotary die cutter and the brand new, Ipress 106 K PRO cut and crease machine which we demonstrated for the first time at our open house in Dresden two weeks ago. The blend of the traditional Iberica products alongside the innovations Koenig and Bauer bring to engineering and service support gives us an incredible range of technologies to offer to our customers.”

    Chris Scully, Koenig and Bauer (UK) Ltd. Sales Director
    Koenig and Bauer UK Sales Director Chris Scully states: "We are delighted to add Mario to our team in the UK. His drive and commitment matches our goal to increase post press equipment sales in the UK. We have some fantastic new products and technological developments to offer to the post press market and Mario’s experience will help us to deliver this."

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    news-1004 Thu, 03 May 2018 07:23:00 +0200 First quarter of 2018 in line with expectations https://uk.koenig-bauer.com/news/details/article/erwartungsgemaesser-start-ins-geschaeftsjahr-2018/
  • Order intake lower due to the previous year’s substantial security press project
  • Well filled project pipeline in all business fields
  • Revenue and EBIT below prior year due to stronger concentration of deliveries in H2
  • Service revenue up
  • Increase in order backlog to €648.5m with a book-to-bill ratio of 1.15
  • Increase in equity ratio to 37.9%
  • Net liquidity including securities of €103.7m    
  • After fully achieving and even exceeding its guidance last year thanks to strong revenue and earnings performance in the fourth quarter, the Koenig & Bauer group remains on track to meet its targets for 2018, underpinned by a high order backlog and a well filled project pipeline. In addition to good group-wide capacity utilisation, the progress that has been made in the projects for achieving further EBIT gains by 2021 is providing a solid basis. Service revenue climbed from €67.4m in the previous year to €71.8m in the first quarter of 2018.

    At €250.9m, group order intake in the first three months of 2018 was down on the previous year’s figure of €321.5m, which had been influenced by a major security project. CEO Claus Bolza-Schünemann: “Alongside our expansionary service business, we made further progress in the flourishing packaging printing. With our customer-centric solutions, we were able to increase order intake in cardboard and film printing, metal decorating, marking and coding printing. As expected, demand for digital printing presses was subdued.” Group revenue (€217.3m) and EBIT (–€1.9m) were down on the previous year (€259.1m and €5m, respectively) in Q1. CFO Mathias Dähn: “Due to the delivery dates requested by our customers, press installations in 2018 will be concentrating on the second half of the year and particularly Q4 to an even greater extent than last year.”

    Mit proaktiven Serviceangeboten wie umfassende Analysen zur Prozessoptimierung und Effizienzsteigerung der Kundenanlagen konnte Koenig & Bauer die Serviceumsätze steigern (1)

    Order gains in packaging printing

    Order intake in the Sheetfed segment, which is dominated by packaging printing, rose by 5.3%. Ralf Sammeck, the management board member responsible for this segment: “After widening our share of the global market across all format classes in 2017, we expanded our market leadership in large formats in Q1 2018.” Sheetfed EBIT was down on the previous year due to the delivery-related decline in revenue. Despite the growth in new business for flexible packaging, Digital & Web order intake fell short of the previous year as fewer orders were received for digital and newspaper web presses. With revenue up slightly, EBIT came under pressure from the low revenue level and R&D expenses as well as expenses on future growth. Despite the significant growth in metal decorating and marking and coding, order intake in the Special segment fell short of the previous year, which had included a large order for a security printing press. CEO Claus Bolza-Schünemann: “With a good project pipeline in security printing, the booking of the usually large orders is not spread evenly over the individual quarters.” EBIT in the Special segment was also slightly lower than in the previous year due to the delivery-related decline in revenue.

    Balance sheet strengthened substantially

    Cash flows from operating activities rose substantially over the previous year (–€14.9m) to €20.3m. The free cash flow was burdened by the final payment instalment of €34.8m for the external funding of a part of the pension provisions. CFO Mathias Dähn: “Following the transfer of our reinsurance claims against the insurer to the beneficiary active employees, we netted the financial receivables against the pension provisions. This reduced the balance sheet total by €59.9m, causing the equity ratio to rise to 37.9%.”

    Die im Großformat gestiegenen Bestellungen trugen zum Anstieg des Auftragseingangs im Sheetfed-Segment um 5,3 % bei (2)

    Group targets for 2018: revenue growth of around 4% and an EBIT margin of around 7%

    Looking ahead over the next few quarters, the management board expects a positive order development thanks to the ongoing expansion of the service business, growing demand in the packaging markets and expected new orders in security printing alongside the high order backlog. CFO Mathias Dähn: “The significantly increasing revenue momentum in the second half of the year together with further progress made by the cost-cutting projects in security printing, purchasing and production will lead to a clear improvement in group earnings. In the absence of any material deterioration in global economic and political conditions for our international business, we expect to achieve organic growth of around 4% in group revenue and an EBIT margin of around 7% in 2018. This will put us on track to achieving our EBIT margin target of 9% and an organic revenue growth rate of around 4% p.a. by 2021.”

    Progress made in projects for additional profitable growth

    Koenig & Bauer is working intensively on further applications in packaging, digital and industrial printing to achieve additional profitable growth beyond its medium-term goals. CFO Mathias Dähn: “One focus is the large and significantly growing market for analogue direct printing on corrugated board, for which we have developed the CorruFLEX and CorruCUT sheetfed flexo presses, both of which have a number of unique features. An important milestone was reached with the first CorruCUT order from the renowned pilot customer Klingele. After the completion of initial testing at our new demonstration centre in Würzburg, the CorruCUT will be installed on the first customer’s premises at the beginning of 2019. As a globally leading supplier of presses for 3-piece can decorating, we want to expand our profile by entering the 2-piece can market. The newly developed CS MetalCan offers users decisive advantages. Following two contract signings at the end of last year, we will be commencing intensive field-testing shortly with the target of sales launch at the end of 2018.”

    Figures at a glance 

    The financial statements can be downloaded as a PDF file from here

    en/investor-relations/financial-reports/

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    news-969 Thu, 19 Apr 2018 12:18:21 +0200 KBA UK takes the 'Route to Success' with a commercial printing open house event in Dresden https://uk.koenig-bauer.com/news/details/article/kba-uk-takes-the-route-to-success-with-a-commercial-printing-open-house-event-in-dresden/
    The high speed Rapida 106 8+L conventional press
    KBA UK hosted a Commercial Print Open house for UK customers at KBA Sheet-fed headquarters in Dresden on the 17th of April 2018. The event, entitled ‘The Route to Success’ was a follow up from recent roadshows in the UK with same title where KBA North America Director of Technology Chris Travis highlighted the technical benefits of the Rapida range of presses to UK customers within their own boardrooms.

    The interest generated from Mr Travis' visits ensured that the event was very well attended with a large percentage of customers who were visiting KBA Sheet-fed headquarters for the first time.

    After an evening enjoying the cultural delights on offer in Dresden Aldstadt, which featured an impromptu masterclass in piano playing from new Koenig and Bauer Sales manager Torsten Schreiner, a total of 22 people were treated to presentations on the company history, strong financial performance and future plans from Vice President of Sales Jan Drechsel. This was followed up with a presentation of future Koenig and Bauer technology from Head of Product Management Sascha Fischer.

    KBA Sheet-Fed Solutions Head of Product Management Sascha Fischer presents to the UK delegation
    The press demonstrations started with the Rapida 106 seven colour + coater in the Demo Centre. 3 jobs were prepared for the machine, all featuring LEDUV inks plus UV coatings. The first job featured a job printed on metalised board with a white, 4 process colours and an effect coating. Once job 1 was complete, job 2, a poster with a different effect coating was loaded onto the press and whilst the press produced the 1000 sheets of 150 gsm gloss material the white ink from the previous job was washed up via simultaneous roller washing (SRW).

    The Rapida 106 7+L hits top speed
    The final job saw a new pantone colour introduced and the press was pushed to its world record, maximum speed of 20,000 sheets per hour. The preparation for this job allowed Demo Centre manager Wolfang Ley to show the guests the ease of set up and phenomenal performance of the QualiTronic PDF inline inspection system for defect free printing.

    Following the straight printing demonstration the next port of call was the long perfector presses: an eight colour plus coater with conventional inking and an identical press with LEDUV inking. Both presses were 18,000 sheet per hour, high speed versions and both presses were enabled with KBA’s AutoRun technology which allows automatic job changing without operator involvement.

    KBA UK sales Director Chris Scully and Area Sales Manager Len Taylor explain the benefits of LED UV printing

    On the first press, 3 sections of a report with a print run of 500 sheets each were completed in under 8 minutes. The following jobs on materials as thin as 70 and 60 gsm were produced with ease.

    The final demonstration of the day was featuring KBA’s LEDUV in combination with perfecting. The material ranges produced went from 135 gsm up to 350gsm and all ran at the maximum speed of 18,000 sheets per hour, once again AutoRun technology was employed for another multiple section job.

    A car brochure section was introduced to showcase the ultimate in colour control; Instrument Flight from System Brunner. The system uses information relating to the grey produced from the process colours and constantly revaluates and adjusts the colours automatically to maintain a perfect neutral grey throughout the print run. 

    Instrument Flight and KBA’s Quality Pass have both been awarded Idealliance accreditation for its use as a tool to aid printers in becoming certified G7 printers link.

    KBA UK Sales Director Chris Scully
    KBA UK Sales Director Chris Scully stated: ‘I am sure that our attendees at this event have now got plenty to consider with regards to their future press purchases. We are delighted that they have taken time out to visit our sheet-fed facility in Dresden. The detailed programme we put together for this event should have covered all areas of interest plus a few extra features they could not see elsewhere. It was a great event.’

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    news-942 Thu, 22 Mar 2018 07:26:00 +0100 Koenig & Bauer achieves or exceeds targets for 2017 https://uk.koenig-bauer.com/news/details/article/koenig-bauer-erreicht-bzw-ueberschreitet-ziele-2017/
  • New orders up 10.1%
  • 4.3% increase in revenue
  • Book-to-bill ratio of 1.04
  • 8.7% increase in order backlog
  • EBIT margin of 6.7%
  • Equity ratio of 36.4%
  • Net liquidity including securities of €121m
  • Dividend of €0.90 per share proposed
  • Group targets for 2018: revenue growth of around 4% and an EBIT margin of around 7%  
  • Driven by strong revenue and earnings in the fourth quarter, Koenig & Bauer fully achieved or exceeded its guidance for 2017. The printing press manufacturer’s consolidated figures show that with the increase in revenue, earnings and order intake achieved last year it is well on track towards achieving its medium-term targets by 2021.

    Growth in the packaging markets and service business, further market share gains

    With security business remaining strong, Koenig & Bauer achieved growth in the packaging markets for cardboard printing, metal, glass and hollow container decorating and coding as well as with new products such as rotary and flatbed die-cutters. Market share was widened in all business fields. CEO Claus Bolza-Schünemann: “In addition to the market success of the rotary die-cutter, the sharp rise in new contracts for flatbed die-cutters over the previous year exceeded our expectations substantially.” Moreover, the group’s revenue and earnings growth was particularly underpinned by expansion in service business. Thus, the proportion of group revenue generated by service business widened from 23.5% in the previous year to 25.6%. CFO Mathias Dähn: “This shows that the group-wide service initiative launched at the beginning of 2016, with which we want to widen the share of service business in group revenue step by step to 30% by 2021 in the interests of greater earnings potential and stability, is now beginning to bear fruit. We want to create satisfied and loyal customers by offering excellent service. At the same time, rising service revenue is an important measure of customer satisfaction for us.”

    Für den großen und signifikant wachsenden Markt des analogen Direktdrucks auf Wellpappe hat Koenig & Bauer die Bogen-Flexomaschinen CorruFLEX und CorruCUT (mit integrierter Rotationsstanze) entwickelt. Eine CorruCUT wird Anfang 2019 beim Pilotkunden Klingele installiert (1)

    Progress made in projects for additional profitable growth

    Koenig & Bauer is working intensively on further applications in packaging, digital and industrial printing to achieve additional profitable growth beyond its medium-term targets. One key aspect is corrugated board printing, which is flourishing at above-average rates thanks to long-term trends such as home-shopping as well as more sophisticated and colourful outer packaging. CEO Claus Bolza-Schünemann: “We have already started marketing the sheetfed flexo presses CorruFLEX and CorruCUT (with an integrated rotary die-cutter), both of which have been developed with a number of unique features. In early 2019 we will be installing a CorruCUT system at the pilot customer Klingele.” A further target market is 2-piece can printing. Explains CFO Mathias Dähn: “As a globally leading supplier of presses for 3-piece can printing, we want to expand our profile by entering the 2-piece can market. Presented in May 2017 with a number of important advantages for users, the newly developed CS MetalCan press for 2-piece can decorating met with strong customer interest. Following two contract signings, we are now able to commence intensive field-testing with the target of sales launch at the end of 2018.” In digital printing, Koenig & Bauer sees an additional growth option as digitisation no longer poses any substitution risks in the markets addressed by the company.

    Good group business performance in 2017

    At €1,217.6m, group revenue reached the target corridor of up to €1.25bn defined in the guidance. With revenue up 4.3% over the previous year (€1,167.1m), Koenig & Bauer fully achieved its mid-term organic revenue growth rate of around 4% p.a., thus more than making up for the further decline of €25m in revenue from newspaper and commercial web presses. The group’s new orders rose substantially by 10.1% over 2016 (€1,149.7m) to €1,266.3m. With orders up 29.7% over the previous year, the fourth quarter was particularly strong. The book-to-bill ratio came to 1.04, while order backlog stood at €606.2m, up 8.7% on the previous year.

    EBIT margin of 6.7% exceeded guidance of around 6% for 2017

    The increased revenue in tandem with more service business across the Group caused the profit rise. In addition to expenses for portfolio additions, new products and IT systems, earnings came under strain from production service provider KBA-Industrial Solutions and the measures to optimise flexible packaging printing. Adjusted for the non-recurring income in the previous year, EBIT climbed from €62.9m to €81.4m. Driven by the positive earnings development and outlook for the group, a tax income of €12.7m arose again from the recognition of deferred tax assets. At €81.1m, group net profit (previous year: €82.2m) translates into earnings per share of €4.91 in 2017 (2016: €4.98).

    Mit dem Abschluss von zwei Kundenverträgen für die für den 2-Teil-Dosendruck mit vielen Alleinstellungsmerkmalen entwickelte CS MetalCan starten intensive Feldtests mit dem Ziel der Verkaufsfreigabe Ende 2018 (2)

    Dividend of €0.90 per share proposed

    “Thanks to the positive earnings performance and the retained profit generated by the holding company Koenig & Bauer AG, we are able to continue our dividend policy with a distribution rate of between 15% and 35% of the group’s net profit,” said CEO Claus Bolza-Schünemann. Accordingly, the Management Board and the Supervisory Board will be asking the shareholders to approve a dividend of €0.90 per share at the annual general meeting on 9 May 2018. This is equivalent to a dividend ratio of 18.4% of Group net profit.

    Order and earnings momentum continuing for Sheetfed

    Driven by innovative, bespoke solutions for folding carton and commercial printing as well as a broader sales and service footprint in the markets of the future, order intake in the Sheetfed segment, which as the largest segment is dominated by packaging printing, rose by 15.2% over the previous year (€569.7m) to €656.2m. Revenue climbed by 7.3% over 2016 (€615m) to €660.2m. EBIT increased from €31.3m in the previous year to €37.5m, with the EBIT margin widening from 5.1% to 5.7%.

    Digital & Web investing in the markets of the future

    Digital & Web order intake and revenue fell short of the previous year primarily as a result of the expected further decline in orders for newspaper and commercial web presses. Segment earnings came under strain from optimisation efforts for flexible packaging printing as well as R&D expenses, resulting in an EBIT of –€4.3m, down on the previous year’s figure of €0.5m. CFO Mathias Dähn: “With the measures taken in flexible packaging printing, a turnaround is apparent, although it will be important to continue to take the right actions to close the gap between our company and the successful leaders of this attractive market.”

    Besonders erfreulich war die Auftrags-, Umsatz- und Ergebnisentwicklung 2017 im Geschäft mit Flachbettstanzen (3)

    Order intake, revenues and profit up in the Special segment

    Growth in orders for security printing, metal and glass/hollow container decorating as well as coding boosted order intake by 16.1% to €533.7m (2016: €459.7m). Revenue grew by 5.3% from €444.3m in the previous year to €467.9m. Following a segment profit of €44.3m in the previous year, EBIT of €53.7m was recorded in 2017.

    Stronger balance sheet and financial power

    Cash flows from operating activities increased slightly from €21.9m in the previous year to €23.8m despite the higher net working capital. Following the successful efforts to reduce working capital in large parts of the group, the measures already taken to optimise receivables and inventories in security printing will not have short-term effects. The free cash flow of –€59.6m (2016: €2.3m) was burdened by high investments (€48.5m) and payment instalments (€36.8m) made for the external funding of a part of the pension provisions. As well as the internal liquidity generated by operating business, the group has access to credit facilities provided by a syndicate of renowned banks. In addition to a guarantee facility of €200m, the syndicated finance includes a revolving cash credit facility of €150m with an option to increase it by €50m. The facilities have a term of five years plus two one-year renewal options up until December 2024. The solid balance-sheet structure was additionally improved with the increase in the equity ratio from 31.1% to 36.4%.

    Group targets for 2018: revenue growth of around 4% and an EBIT margin of around 7%

    In the absence of any material deterioration in global economic and political conditions for our international business, Management Board expects to achieve organic growth of around 4% in group revenue and an EBIT margin of around 7% in 2018.

    CFO Mathias Dähn: “In addition to the favourable global economy and the outlook for the consistently growing packaging and industrial printing industry, our forecast is based on the 10.1% increase in order intake and the further gains in market share achieved in all business fields. A strong basis is also provided by the 8.7% rise in the order backlog to €606.2m and the progress made in the €70m EBIT increase projects by 2021. The incremental growth in the revenue share of service business to 30% and the performance improvement project in security printing should each contribute around €20m and the integrated production network and strategic purchasing each around €15m to earnings growth. At the same time, we will be raising the prices of our entire product range by 3.7% effective 1 April 2018 in response to rising costs. Even so, the targeted growth investments are leaving traces on our cost position. Our guidance for 2018 put us on track to achieving our EBIT margin target of 9% and an organic revenue growth rate of around 4% p.a. by 2021. We would expect to reach the lower edge of our EBIT guidance of between 4% and 9% in the event of more adverse conditions in the global economy and the end markets, particularly as a result of volatile security printing business.”

    In the first quarter of 2018, Koenig & Bauer will be completing the partial external funding of its pension provisions commenced in 2017 and initially planned for a period of five years. The final payment will be in the same amount as all the previous payments made in 2017. At the time of transfer of the claims to the beneficiaries, the reinsurance claims recognised within financial receivables will be netted against pension provisions. This reduction in the balance sheet will additionally improve the equity ratio and will bring it closer to the target of over 45%.

    Figures at a glance 

    The financial statements can be downloaded as a PDF file from here

     

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    news-944 Wed, 21 Mar 2018 16:10:46 +0100 KBA UK adds a Colour Measurement Technologist to its UK Service Team https://uk.koenig-bauer.com/news/details/article/kba-uk-adds-a-colour-measurement-technologist-to-its-uk-service-team/
    Dave Ward KBA UK Ltd. Colour Measurement Technologist

    KBA UK has responded to the growing demand for presses with increasingly complex levels of colour and inspection control by appointing Dave Ward as Colour Measurement Technologist for the UK and Ireland.

    Mr Ward has vast experience of the print industry, having worked as a Printer (running a Planeta 6 colour) at D.S. Smith Carlisle before being promoted to Supervisor and finally Pressroom manager.

    For the following 21 years Dave worked for GMI/AVT (Graphic Microsystems Inc/Advanced Vision Technology) as Senior Engineer for Colour Control and Closed Loop Colour Measurement Systems in Sheet-fed, Web, Metal Decorating and Currency Press applications.

    Peter Banks KBA UK Ltd. Service Manager

    KBA UK Ltd. Service Manager Peter Banks states: We welcome Dave to our team, he brings with him a very specialist set of skills. His knowledge on colour control systems is first class and he will be another great addition to our growing service team.

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    news-918 Mon, 05 Mar 2018 12:54:24 +0100 KBA UK announces a new service agent for ROI and NI https://uk.koenig-bauer.com/news/details/article/kba-uk-announces-a-new-service-agent-for-roi-and-ni/
    Chris Dixon of C&C Dixon Ltd.

    KBA UK Ltd. is pleased to announce that Chris Dixon will be the official service agent for KBA UK in the Republic of Ireland and Northern Ireland with immediate effect. 

    Mr Dixon who is based in Dublin has over 30 years experience within print and has provided engineering services to the printing industry for the last 11 years. He has specialist skills in Electrical engineering and has great experience of Koenig and Bauer products.

    Chris will receive the full support of the KBA UK service team and is contactable via the following methods:

    Tel: 00 44 1923 819922

    e-mail: uk-serviceteam(at)koenig-bauer.com

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