Koenig & Bauer AG: meets its own forecast for 2023 and expects stable business in 2024

Würzburg (pta034/28.02.2024/21:45 UTC+1)

On the basis of its preliminary and as yet unaudited figures, Koenig & Bauer AG, Würzburg ("Koenig & Bauer", WKN: 719 350 / ISIN: DE0007193500) has achieved consolidated earnings before interest and taxes (EBIT) of €29.9m. This places EBIT within the forecast range of €25m to €35m adjusted on 8 November 2023. At €1,326.8m, Group revenue is at the upper end of the guidance of around €1.3bn. The Management Board and the Supervisory Board will be proposing at the Annual General Meeting that the net profit generated by the holding company Koenig & Bauer AG be retained and that a dividend be omitted for the 2023 financial year. However, as Koenig & Bauer attaches great importance to ensuring an appropriate participation of its shareholders in the company's success, a future dividend policy has been adopted which, subject to profitable business performance during the year, aims to distribute a dividend of 15 - 35% of consolidated earnings, with a minimum dividend of €0.30 per share.

At today's meeting of the Supervisory Board, the CFO and Deputy Chief Executive Officer, Dr Stephen Kimmich, was given responsibility on the Management Board for the Special segment from 1 April 2024 in addition to his role as CFO.

The company continues to face a challenging macroeconomic environment in 2024. Even so, the Management Board expects the EBIT margin and revenue to remain stable at the previous year's level. Accordingly, it projects operating earnings of between €25m and €40m and revenue of around €1.3bn. However, Group EBIT for 2024 will be burdened by up to €10m as a result of spending on drupa, the world's largest trade fair for the printing and graphics industry, which will be taking place in Düsseldorf from the end of May until the beginning of June, resulting in Group EBIT of between €15m and €30m after this one-off effect.

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Emitter:	Koenig & Bauer AG Friedrich-Koenig-Straße 4 97080 Würzburg Germany
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