Koenig & Bauer AG: Strong Q4 secures 2024 target achievement – higher profitability expected for 2025

Würzburg (pta027/26.02.2025/19:25 UTC+1)

On the basis of its preliminary and as yet unaudited figures, Koenig & Bauer AG, Würzburg ("Koenig & Bauer", WKN: 719 350 / ISIN: DE0007193500) closed the 2024 financial year with a historically strong final quarter as planned in a challenging global economic market environment, thus reaching all the targets defined in November 2024 required to meet the updated full-year forecast.

Thus, operating EBIT of €46.5m (previous year: €32.0m) and a strong positive free cash flow were achieved in the fourth quarter. This resulted in a positive free cash flow for the year as a whole, although it remained negative at €-35.8m in the first nine months.

As forecasted, operating EBIT of €25.8m adjusted for extraordinary items for the "Spotlight" focus programme and costs for the drupa trade fair was achieved for 2024 with a revenue of €1,274.4m.

After drupa, the Sheetfed segment did not see any decline in demand, posting an order intake of €220.8m (+45.5% YOY) in the final quarter, which was also the strongest quarter of the year. This also resulted in a high Group order intake of €1,402.7m (+8.9% YOY) in 2024 and and increased the Group order backlog to €1,039.8m (+14.1% YOY) with a book-to-bill ratio of 1.10. This marks the highest year-end figure in Koenig & Bauer's recent history and provides a strong basis for 2025 and beyond.

In addition to the costs of €10.5m for the world's leading trade fair drupa, extraordinary items for the "Spotlight" focus programme amounting to €50.4m placed a burden on Group EBIT in 2024, while simultaneously laying the foundations for profitable growth in the coming years. This exceeded the forecast maximum of €45m for the "Spotlight" extraordinary items, as the Management Board decided to discontinue the CS-MetalCan project for 2-piece beverage can printing with an additional earnings effect of approx. €5.4m.

In the course of the final implementation of all measures under the "Spotlight" focus programme, further expenses in the low single-digit million-euro range are expected in the first half of 2025 to complete the project and underpin the Group's sustainable earnings growth.

Despite difficult and uncertain global economic and geopolitical conditions, Koenig & Bauer sees itself well positioned for 2025. Thanks to a historically high order backlog and additional savings from the "Spotlight" focus programme, the Management Board anticipates a slight increase in revenue to €1.3bn, accompanied by higher operating EBIT in a corridor of between €35m and €50m. Within this corridor, target achievement is highly dependent on actual global economic and geopolitical developments over the next few months.

Koenig & Bauer continues to project Group revenue of roughly €1.5bn in 2026, accompanied by an operating EBIT margin of around 6%. Due to the global economic and geopolitical uncertainties and, resulting from this, the limited forward planning visibility, Group revenue is currently expected to come to between €1.4bn and €1.5bn, with the operating EBIT margin reaching 5-6%.

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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