Koenig & Bauer reports that it is in a strong position after a good first six months in 2021, with improved earnings despite lower revenue – and second-half revenue expected to be higher due to double-digit growth in order intake.
The company said it had recorded roughly 28% increase in order intake, particularly underpinned by double-digit growth in the Special and Sheetfed segments. Koenig & Bauer’s strategy seems to be paying off; in addition to trade fair success in China, successful entry into the corrugated market has been seen, with five new CorruCUT machines having been sold.
The company also said that the P24x efficiency programme has spurred earnings, with €26.2m improvement in EBIT to €6.4m despite the pandemic-induced revenue decline, They also saw an increase of €103.3m in free cash flow to €14.3m, taking Koenig & Bauer back to its pre-pandemic net financial position.
The overall forecast for 2021 is a 2% EBIT margin on revenue of €1,100 – 1,135m and medium-term targets have been confirmed.
