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Koenig & Bauer sales beat expectations Jo Francis Friday, February 26, 2021
Koenig & Bauer expects sales for 2020 to be above prior estimates at €1bn-plus, thanks to accounting changes that have altered the group’s revenue recognition policy.
K&B: focus is on packaging and a portfolio strategy in attractive markets
The Germany-headquartered press manufacturer operates in a wide range of markets, from sheetfed and web offset to specialist presses for packaging, security printing and metal decorating.
It had previously estimated full-year sales of between €900m-€950m (£782m-£826m), and the figure has now increased to €1.029bn in its preliminary results.
K&B expects to post an EBIT loss of €68m, including restructuring costs associated with its previously announced Performance 24 programme, now known as ‘P24x’.