• Restructuring on schedule with positive effects
• Group sales of €1.1bn on a par with prior year
• Positive results in both business segments
• €14.1m operating profit and €5.5m pre-tax profit
• Operating cash flow over €43m and high net liquidity
• Outlook 2015: Similar sales with higher EBT margin
• Koenig & Bauer AG (KBA) has today published its financial statements for 2014.
At €1.1bn group sales were at the top end of its forecast (2013: €1,099.7m). Initial positive impacts from the press manufacturer’s group realignment which began at the beginning of 2014 are visible. Compared to the previous year when restructuring expenses of over €155m strained KBA’s operating result, in 2014 both its sheetfed offset segment and the web and special press division posted an operating profit.
Moreover, despite further special expenses of €10m the rise in operating profit to €14.1m was significantly higher than planned a year ago. The pre-tax profit (EBT) came to €5.5m and a group net profit of €0.3m also exceeded the forecast.
In his letter to the shareholders Claus Bolza-Schünemann, president and CEO of the nearly 200-year-old press manufacturer, said: “We made rapid progress in the first twelve months of the most extensive realignment project in our company’s recent history and were pleased to see its positive effects earlier than anticipated.”
more at pjnews.co.uk
