Public disclosure of inside information according to article 17 MAR
Koenig & Bauer AG: expects EBIT of €25-35m for 2023
Würzburg (pta040/25.10.2023/21:00 UTC+2)
Würzburg, 25 October 2023 – Based on the preliminary figures for the first nine months of 2023 and the outlook for the fourth quarter, the Management Board of Koenig & Bauer AG expects the 2023 financial year to be weaker than previously assumed.
In particular, the still robust order pipeline for Banknote Solutions in the Special segment will be delayed for reasons related to individual nation states. In view of revenue recognition methods, which in the Special segment are largely based on the percentage-of-completion (POC) method, order intake shows up more quickly in revenue recognition and earnings.
In the Digital & Webfed segment, the future-oriented products generated strong order intake in the third quarter. However, as things currently stand, it can be assumed that further start-up costs will be required in connection with the introduction of the new flexo, corrugated board and digital printing products in the second half of 2023.
In the largest segment, Sheetfed, the company continues to assume that growth will be more profitable in 2023 than in the previous year.
Provided that general conditions do not deteriorate any further, Koenig & Bauer expects to achieve its revenue target of around €1.3bn accompanied by EBIT of €25-35m in 2023.
The adjustment to the outlook for the current year to factor in the economic volatility and geopolitical uncertainties has no impact on the medium-term targets, as the company's focus is on the packaging market, which is growing structurally and sustainably. Koenig & Bauer will issue guidance for 2024 and 2025 when it publishes its full-year figures for 2023.
Koenig & Bauer will publish the complete financial figures for the third quarter and the first nine months on 8 November 2023.
The preliminary figures for the first nine months of 2023 as follows:
in €m 9 months 2023 (previous year) | Sheetfed | Digital & Webfed | Special |
| Order intake | 454 (651.4) | 133 (89.0) | 271 (313.7) |
| Revenue | 531 (454.1) | 102 (95.2) | 281 (280.7) |
| EBIT | 12 (4.0) | -20 (-14.7) | 4 (4.0) |
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| Emitter: |
Koenig & Bauer AG Friedrich-Koenig-Straße 4 97080 Würzburg Germany |
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|---|---|---|
| Contact Person: | Lena Landenberger | |
| Phone: | +49 931 909-4085 | |
| E-Mail: | lena.landenberger@koenig-bauer.com | |
| Website: | www.koenig-bauer.com | |
| ISIN(s): | DE0007193500 (Share) | |
| Stock Exchange(s): | Regulated Market in Frankfurt, Munich; Free Market in Berlin, Dusseldorf, Hamburg, Hannover, Stuttgart, Tradegate |