Koenig & Bauer 2020 Report

The Koenig & Bauer Group achieved revenue of €1.0bn in 2020 (2019: €1.2bn) despite the challenges posed by the COVID-19 pandemic.

The 17.4% decline in revenue reflects the measures adopted by governments worldwide in 2020 to halt the spread of the pandemic. Travel restrictions in particular hampered international sales activities as well as order and project execution. Service business accounted for about 30% of the Group’s revenue in 2020 against the backdrop of the pandemic. This means that the target of 30% was reached, albeit on the basis of lower new press business than in the previous year. The 14.6% decline in order intake to €975m (2019: €1.1bn) is also due to COVID-19-related constraints on global economic activity and customers’ reluctance to invest in view of reduced forward planning visibility.

However, the decline in Koenig & Bauer’s revenue and order intake in 2020 was much less pronounced than for the printing press industry as a whole (24.2% decline in revenue; 21.9% decline in order intake) according to figures released by industry association VDMA (German Machinery and Plant Manufacturers’ Association). Koenig & Bauer’s order backlog as of 31 December 2020 was valued at €632m, down 7.9% on the previous year (31 December 2019: €686m).

Earnings before interest and taxes (EBIT) amounted to €-68m in 2020, compared to €70m in the previous year. In addition to the COVID 19-related decline in revenue, EBIT was adversely affected by non-recurring expenses of €58m in connection with the expanded “P24x” efficiency programme announced in autumn 2020.

Join our Newsletter

Sign up to our weekly newsletters for updates on articles, interviews and events

Sign up