Koenig & Bauer AG held its 88th annual general meeting which saw company executives update shareholders on the company’s state of realignment.
The company revealed figures for the first five months of 2013 significantly worse than 2012, a result attributed to a successful drupa show. Group order intake was down 25 percent to €362 million. The Group posted a €2.3 million profit on sales of €1.3 billion over the past year.
“When looking at the industry situation it must be noted that KBA is the only large press manufacturer to have remained in the black operationally and after interest for the fourth year in a row despite considerable restructuring expenses and a substantial value adjustment to fixed assets in our sheetfed division. We know that there is room for improvement and we are pushing forward in many areas to increase profitability.”
The company’s restructuring efforts will continue, meaning the company anticipates similar sales figures for 2013 as 2012, despite a forecasted decline in sales volume for web offset presses.
Official results for the company’s first half of 2013 will be published on August 9th.