Koenig & Bauer AG, Würzburg (“Koenig & Bauer”, WKN: 719 350 / ISIN: DE0007193500) confirms that its operating earnings will reach the lower end of the forecast range of €25 – 40m in 2024 and that it will achieve its revenue target of around €1.3bn despite the persistently difficult market situation.
Among other things, the order intake arising from drupa, the world’s largest trade fair for the printing and graphics industry, has resulted in a provisional order backlog of around €1bn, which is also the highest half-year figure in the company’s recent history. This order backlog will largely take effect after 2024 and is distributed differently across the segments.
As announced, further details have been defined for the “Spotlight” focus programme to ensure that the company remains on its trajectory towards achieving its EBIT target of 6% and Group revenue of €1.5bn in 2026 at the latest and to strengthen operating EBIT in 2025. Spotlight primarily entails measures to improve costs at the holding company and in the Digital & Webfed segment in Würzburg as well as in the Special segment at various locations. Special items from the "Spotlight" focus program in the amount of €30 – 45m are to be expected. These will show up as a special effect in Group earnings in 2024 and mainly relate to adjustments to material and personnel expenses.
Non-operating extraordinary expenses of approximately €10m, mainly in connection with the leading drupa trade fair, weighed on earnings in the second quarter. In addition to this one-off effect, the provisional operating EBIT in the second quarter of around €-13.5m fell slightly short of the operating EBIT of €-10.2m in the first quarter in line with expectations. Broken down by month, Group EBIT was better in June than in April and May, making a positive contribution to EBIT. Koenig & Bauer expects a strong second half of 2024 in terms of revenue and earnings as a basis for achieving its full-year operating earnings.
Koenig & Bauer will be publishing its full figures for the second quarter and the first half of 2024 on 1 August 2024.
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