Koenig & Bauer AG has concluded the 2025 financial year, according to preliminary, unaudited figures, with a significant improvement in earnings in the context of a persistently weak macroeconomic environment and increasing trade policy uncertainties.
Group revenue improved as planned by +2.2% (slight revenue growth) to €1,302.4m (€1,274.4m 2024). Both segments contributed to the revenue growth, with Special & New Technologies (S&T) delivering a clear increase of +6.8% to €596.0m (€558.0m 2024) and Paper & Packaging Sheetfed Systems (P&P) posting a solid +0.9% rise to €741.5m (€734.8m 2024).
Operating EBIT rose by +€21.3m to €36.6m (€15.3m). The company thus landed squarely within the forecast specified in November 2024 (lower half of the corridor of €35m to €50m).
As expected, order intake of €1,233.2m as of 31 December 2025 was below the strong previous year (-12.1%). The P&P segment proved to be highly resilient, recording a decline of just -3.9% (€704.0m) compared to the drupa year. The -19.7% decline in the S&T segment (€558.4m) is largely attributable to the high volume of orders from the US Bureau of Engraving and Printing in the previous year. The order backlog as of 31 December 2025 stood at €970.6m (previous year: €1,039.8m) and thus remains at a historically high level.
Against the backdrop of the current order situation and volatile geopolitical conditions, Koenig & Bauer expects to see continued operating stability in the 2026 financial year. In view of the future requirements of IFRS 18, to increase comparability with its peer group and to sharpen the focus on operating cash generation, the company will base its guidance on operating EBITDA (previously: operating EBIT) starting from the 2026 financial year.
