As in many industries, the COVID-19 pandemic, which is worsening again in most countries over the past few weeks, has left clear traces on the course of business in the Koenig & Bauer group. In Q3, order intake was down 13.8% at €232.6m and revenue was down 32.2% at €198.1m year-on-year.
In addition to the effects of the pandemic, this revenue decline was materially due to the new internal revenue recognition guideline of the Koenig & Bauer AG, which caused a once-only revenue shift of €52.5m to 2021 in the Sheetfed segment.
In the first three quarters of 2020, new orders of €712.8m were below the previous year’s figure of €843m by 15.4%, although this was better than the general sector figures for printing presses published by industry association VDMA, which dropped by 26.8% in the same period.
Cumulative revenue came to €602.6m in the first nine months of 2020 (2019: €798.2m).
