Koenig & Bauer Achieves Revenue of More Than €1B in 2020
Facebook Facebook
Koenig & Bauer AG, Würzburg, announces that on the basis of its preliminary and as yet unaudited figures it achieved group revenue of €1,029m and preliminary consolidated earnings before interest and taxes (EBIT) of -€68m in the 2020 financial year. Adjusted for special items, preliminary consolidated EBIT stands at -€19m.
This means that Group revenue is significantly above the forecast issued for the 2020 financial year, which had indicated a figure of between €900 and 950m. Adjusted EBIT was also better than the forecast negative EBIT before special items of a figure in the mid-double-digit millions.
Business and Operations Management Koenig & Bauer Achieves Revenue of More than â¬1bn in 2020âSlight Organic Revenue Growth and Balanced EBIT Expected in 2021 Koenig & Bauer Achieves Revenue of More than â¬1bn in 2020âSlight Organic Revenue Growth and Balanced EBIT Expected in 2021 Adjusted for special items, preliminary consolidated EBIT stands at -â¬19m.
Login or register now to gain instant access to the rest of this premium content!
Koenig & Bauer AG, Würzburg (âKoenig & Bauerâ) announces that on the basis of its preliminary and as yet unaudited figures it achieved group revenue of â¬1,029m and preliminary consolidated earnings before interest and taxes (EBIT) of -â¬68m in the 2020 financial year. Adjusted for special items, preliminary consolidated EBIT stands at -â¬19m.
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’.
With the establishment of a new department under the supervision of the new board spokesman Dr Andreas Pleßke, Koenig & Bauer is intensifying its sustainability activities.
Employees (social responsibility), environment (ecological responsibility), governance, society, outreach, integrity, and compliance are the five pillars of the Koenig & Bauer sustainability concept. The concept was elaborated based on Agenda 2030 of the United Nations, whose 17 Global Goals aim to secure sustainable development on the economic, social, and ecological levels.
Dr Bernd Heusinger, who has served Koenig & Bauer in various functions since 1999, will be assuming responsibility for the new sustainability remit alongside his current corporate office duties for the supervisory board. The area of investor relations, which falls under the mandate of chief financial officer Dr Stephen Kimmich, will be passed on to Lena Landenberger with effect from January 1, 2021.