Ad hoc Releases

Pursuant to article 17 of the European Market Abuse Regulation - MAR, an issuer of financial instruments must immediately publish any specific information which is not publicly known if such information is likely to exert significant influence on the stock exchange price.

2024

19.12.2024 10:20 MEZ

Koenig & Bauer Confirms Progress in Battery Cell Manufacturing Development with VW PowerCo, Proof of Concept Targeted by Mid-2025

Koenig & Bauer AG (“Koenig & Bauer”, WKN: 719350 / ISIN: DE0007193500), a leading global technology provider of special printing applications with a particular focus on the packaging sector, confirms that the development cooperation in the field of sustainable battery cell manufacturing which started in June 2023 with Volkswagen subsidiary PowerCo is on a positive path.

The development of a system for industrial dry powder coating (“solvent-free dry coating”) of electrodes is a highly innovative and complex process in many areas, especially in joint process development, both in the industrialisation and scaling of various basic technologies and in the development of completely new machines for this process. Dry coating, which is a sub-process of multi-stage battery cell manufacturing, eliminates the costly and energy-intensive drying of wet-coated electrodes.

The phase to date has been assessed positively and is being continued with a high level of intensity, this is also reflected in the order for another prototype by VW PowerCo placed in the middle of the year. A proof of concept for the development goals is targeted by mid-2025.

28.11.2024 18:25 MEZ

Koenig & Bauer initiating Group realignment

This realignment marks a further development of the segment structure introduced ten years ago, which is now being oriented even more closely to current and future customer needs, resulting in lean structures and thus a reduction in the number of segments from three to two: Paper & Packaging Sheetfed Systems (P&P) and Special & New Technologies (S&T).

In the future, all the previous activities of the Sheetfed segment will be consolidated within the new Paper & Packaging Sheetfed Systems segment. As well as this, the corrugated cardboard activities for the Chroma series bundled under the Celmacch joint venture, which were previously assigned to the Digital & Webfed segment, will be allocated to this segment due to the close technological and customer overlap between folding box and corrugated cardboard producers. In addition to commercial printing solutions, this segment will be focusing on end-to-end solutions for the high-growth folding box and corrugated cardboard box markets, addressing all aspects such as the preprint stage, printing with an integrated digital workflow and postprint processing.

Looking forward, the Special & New Technologies segment will consolidate the previous activities of the Special segment (special presses for banknote and security printing, systems for industrial marking and coding and special systems for metal and glass/hollow body direct printing), as well as the remaining activities of the former Digital & Webfed segment. This includes web-based printing processes such as the “RotaJET” web digital printing presses and the systems developed in partnership with HP for pre-printing corrugated-board liners, CI flexo printing presses and web offset presses. The future S&T segment will also hold the new autonomous Vision & Protection (inspection systems and protection technologies) and Kyana (formerly Digital Unit) business units, as well as the joint venture established between Koenig & Bauer and the Volkswagen subsidiary PowerCo for the development of dry coating for battery cell production. The former Digital & Webfed segment will be reported separately for a certain period in the interests of greater transparency.

The new segmentation and different focus will result in changes to central responsibilities for operations as well as cross-sectional functions. Some of these will be re-assigned to the two new segments to a greater extent to address the individual requirements of the various markets more effectively. Consequently, the previous role of a central Group COO will no longer be required. For this reason, the company and Michael Ulverich have mutually agreed that he will leave Koenig & Bauer and step down from the Management Board effective 30 November 2024.

At the same time, Mr Christian Steinmaßl will be joining Group management on 1 December 2024, taking on a key role in the new Special & New Technologies segment. Steinmaßl will initially assume responsibility for the new autonomous Vision & Protection (inspection systems and protection technologies) and Kyana (formerly Digital Unit) business units and report to the Executive Board. He will also be responsible for production and other operational shared services within the Group.

Overall, the newly defined segmentation and the upcoming transition to a new generation on the Executive Board mark the first steps in the realignment of Koenig & Bauer. Looking forward, this will make it possible to reduce the number of members of the Executive Board to two, namely one Chief Executive Officer and one Chief Financial Officer. Details on the further realignment steps, which also involve the transition to a new generation, will be duly published upon being finalised.

25.07.2024 18:00 MEZ

Koenig & Bauer confirms its operational guidance in a difficult market environment and announces key figures for “Spotlight”

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.

10.06.2024 18:05 MEZ

Koenig & Bauer announces extraordinary order intake: orders worth approx. €250m marketed since the end of May 2024

Koenig & Bauer AG, Würzburg (“Koenig & Bauer”, WKN: 719 350 / ISIN: DE0007193500) has marketed new orders worth €250m since the end of May 2024, including legally binding orders worth €200m. All segments have contributed to the order intake. The new orders were received at drupa and elsewhere.

The company confirms its guidance according to which the operating EBIT margin and revenue in the current year will remain stable at the previous year’s level. The path already taken to achieve an EBIT margin of 6 – 7% in 2026 at the latest, in tandem with Group revenue of €1.5bn, is also being supported by the Spotlight focus programme.

28.02.2024 21:45 MEZ

Koenig & Bauer meets its own forecast for 2023 and expects stable business in 2024

On the basis of its preliminary and as yet unaudited figures, Koenig & Bauer AG, Würzburg (“Koenig & Bauer”, WKN: 719 350 / ISIN: DE0007193500) has achieved consolidated earnings before interest and taxes (EBIT) of €29.9m. This places EBIT within the forecast range of €25m to €35m adjusted on 8 November 2023. At €1,326.8m, Group revenue is at the upper end of the guidance of around €1.3bn. The Management Board and the Supervisory Board will be proposing at the Annual General Meeting that the net profit generated by the holding company Koenig & Bauer AG be retained and that a dividend be omitted for the 2023 financial year. However, as Koenig & Bauer attaches great importance to ensuring an appropriate participation of its shareholders in the company’s success, a future dividend policy has been adopted which, subject to profitable business performance during the year, aims to distribute a dividend of 15 - 35% of consolidated earnings, with a minimum dividend of €0.30 per share.

At today’s meeting of the Supervisory Board, the CFO and Deputy Chief Executive Officer, Dr Stephen Kimmich, was given responsibility on the Management Board for the Special segment from 1 April 2024 in addition to his role as CFO.

The company continues to face a challenging macroeconomic environment in 2024. Even so, the Management Board expects the EBIT margin and revenue to remain stable at the previous year’s level. Accordingly, it projects operating earnings of between €25m and €40m and revenue of around €1.3bn. However, Group EBIT for 2024 will be burdened by up to €10m as a result of spending on drupa, the world’s largest trade fair for the printing and graphics industry, which will be taking place in Düsseldorf from the end of May until the beginning of June, resulting in Group EBIT of between €15m and €30m after this one-off effect.

2023

25.10.2023 21:00 MEZ

Koenig & Bauer expects EBIT of €25-35m for 2023

Würzburg, 25 October 2023 – Based on the preliminary figures for the first nine months of 2023 and the outlook for the fourth quarter, the Management Board of Koenig & Bauer AG expects the 2023 financial year to be weaker than previously assumed.

In particular, the still robust order pipeline for Banknote Solutions in the Special segment will be delayed for reasons related to individual nation states. In view of revenue recognition methods, which in the Special segment are largely based on the percentage-of-completion (POC) method, order intake shows up more quickly in revenue recognition and earnings.

In the Digital & Webfed segment, the future-oriented products generated strong order intake in the third quarter. However, as things currently stand, it can be assumed that further start-up costs will be required in connection with the introduction of the new flexo, corrugated board and digital printing products in the second half of 2023.

In the largest segment, Sheetfed, the company continues to assume that growth will be more profitable in 2023 than in the previous year.

Provided that general conditions do not deteriorate any further, Koenig & Bauer expects to achieve its revenue target of around €1.3bn accompanied by EBIT of €25-35m in 2023.

The adjustment to the outlook for the current year to factor in the economic volatility and geopolitical uncertainties has no impact on the medium-term targets, as the company’s focus is on the packaging market, which is growing structurally and sustainably. Koenig & Bauer will issue guidance for 2024 and 2025 when it publishes its full-year figures for 2023.

Koenig & Bauer will publish the complete financial figures for the third quarter and the first nine months on 8 November 2023.

The preliminary figures for the first nine months of 2023 as follows:

in €m 9 months 2023 (previous year)	Sheetfed	Digital & Webfed	Special
Order intake	454 (651.4)	133 (89.0)	271 (313.7)
Revenue	531 (454.1)	102 (95.2)	281 (280.7)
EBIT	12 (4.0)	-20 (-14.7)	4 (4.0)

08.06.2023 10:40 MEZ

Koenig & Bauer signs cooperation agreement with Volkswagen on development collaboration in the field of battery cell manufacturing

Koenig & Bauer AG today signed a cooperation agreement with Volkswagen subsidiary PowerCo SE for development collaboration in the field of sustainable battery cell production.

Koenig & Bauer will develop a machine for the industrial powder coating ("solvent-free dry coating") of electrodes. Dry coating, which is a sub-process of multi-stage battery cell production, eliminates the costly and energy-intensive drying of wet-coated electrodes. Koenig & Bauer plans to cover most of the development costs with its own engineering resources. According to the current planning status, the development phase is scheduled to run until the end of 2024. Whether the ambitious development goals will be achieved can only be assessed after the development phase has been completed.

If the development goals are achieved, Volkswagen has the exclusive right to use or sell the Koenig & Bauer equipment for a period of 7 years.

A separate supply and distribution agreement is to be concluded for this purpose.

23.02.2023 18:40 MEZ

Koenig & Bauer exceeding EBIT forecast for 2022 on the basis of its preliminary figures

Koenig & Bauer AG, Würzburg (“Koenig & Bauer”, WKN: 719 350 / ISIN: DE0007193500) has announced that, on the basis of its preliminary and as yet unaudited figures, its preliminary Group earnings before interest and taxes (EBIT) for 2022 have exceeded its own forecast as well as market expectations. On this basis, EBIT reached €22m (own forecast: €15 - €20m); at €1,186m, Group revenue was at the upper end of the company’s own forecast of €1,160 -1,190m.

This heightened profitability is attributable in particular to the more efficient response to the challenges posed by supply-chain and capacity constraints as well as the intensified implementation of the P24x programme.

For the current year 2023, the Management Board projects Group revenue of around €1.3bn, with an EBIT margin of roughly 3%.

The full and audited financial statements for 2022 will be published on 29 March 2023 and made available on the website.

2022

21.07.2022 21:00 MEZ

Koenig & Bauer acquires 49 % in Celmacch Group S.r.l. and expands its presence on the growth market for corrugated board

Koenig & Bauer AG, Würzburg (“Koenig & Bauer,” WKN: 719 350 / ISIN: DE0007193500) and the shareholders of Celmacch Group S.r.l. – a leading manufacturer of high board line flexo printing presses and rotary die-cutters for the corrugated board industry – have today joined forces and agreed to the acquisition of a 49 per cent stake in the latter’s business by Koenig & Bauer. This lays the foundations for collaboration on development and marketing activities on the growth market for corrugated board. Koenig & Bauer has the option to acquire further shares in Celmacch Group S.r.l..

Celmacch Group S.r.l. counts around 50 employees and has gathered over 40 years of experience on the growth market for corrugated board, a segment that Koenig & Bauer also addresses with its complementary CorruCUT and CorruFLEX presses. Celmacch Group S.r.l. is a financially healthy company and has built up an excellent market standing, especially since the relaunch of its Chroma product family in 2019. These presses are already supplied to numerous major international packaging producers, primarily on the local markets. On this basis, turnover has increased strongly to around €20 million. Celmacch Group S.r.l. will operate as Koenig & Bauer Celmacch S.r.l. in future; its offices remain in Desenzano, Italy. For the first phase of the partnership, the focus will be placed on joint sales and service activities, further product development and expansion of the company’s assembly capacities. Under the name ‘Chroma’, a new product family will cover all price and performance classes in the relevant market segment.

Acquisition of the shares in Celmacch Group S.r.l. remains subject to official approval from the Italian authorities that oversee foreign direct investment. The parties have agreed not to disclose further details of the transaction. The final closing is anticipated for September 2022.

25.02.2022 17:10 MEZ

Koenig & Bauer exceeds EBIT forecast for 2021 on the basis of its preliminary figures

Koenig & Bauer AG, Würzburg (“Koenig & Bauer”, WKN: 719 350 / ISIN: DE0007193500) has announced on the basis of its preliminary and as yet unaudited figures that it has exceeded its own forecast for preliminary Group earnings before interest and taxes (EBIT) for 2021.

Despite the ongoing pandemic in 2021 and a challenging procurement environment, EBIT of around €29m was achieved through the acceleration of the savings effects in the P24x efficiency programme and the more efficient implementation of the related personnel measures. This was also due to a high earnings contribution from the Special segment in the fourth quarter in particular. At around 2.6%, the EBIT margin thus exceeded the company’s own forecast of 2.0% for 2021. Driven by a generally strong final quarter, Group revenue reached the forecast range of €1,100 - 1,135m in 2021, coming to around € 1,116m.

The company plans to publish its forecast for 2022 together with the presentation of its audited annual financial statements and the annual report for 2021 no later than on March 30, 2022, also in view of the current developments in the Ukraine crisis and, resulting from this, the high level of uncertainty over the impact on the global economy. Koenig & Bauer will be holding a conference call (in English) for analysts and investors on 30 March 2022. The conference call will be available on the website later.