Friday, May 28, 2021
Koenig & Bauer has joined rival Germany press manufacturer Heidelberg in announcing a price rise because of increases in raw material costs.
K&B is wrangling raw materials, shipping costs, computer chips
Like Heidelberg, K&B said it would make a “moderate price adjustment” across its entire portfolio.
K&B cited reduced availability of a raft of raw materials including “copper, plastics, additives, sheet metal and wood”, alongside higher shipping and logistics costs.
“The moderate price increase enables further innovations and is thus an investment in the future for the industry,” the manufacturer stated.
The manufacturer also said that the global shortage of computer chips was resulting in “reduced capacities and long lead times for industrial customers, including those outside the automotive sector”.
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’.