Press orders surge at Koenig & Bauer

Orders at press manufacturing giant Koenig & Bauer have surged by 30 per cent, with sheetfed and special presses leading the field, and the company expressing its confidence in the global post-Covid recovery. 

Its sales in the six months to June slipped by 4.4 per cent to €493.2m, which the company blamed on the ongoing impact of the Covid-19 pandemic, although the order backlog rose by 16 per cent to €754m.

Profit was up in the first six months, with EBIT moving from a €19.8m loss in the same period the prior year, to €6.4m in the black, due to the P24x efficiency programme.

Orders rose by 28 per cent, sheetfed orders were up by 30 per cent, with packaging printing driving the growth, accounting for 60 per cent of all presses. Orders for special presses were up by 45 per cent. Flexo printing also grew, while digital and web did not meet expectations, “pandemic-related reluctance” blamed by the company.

Dr Stephen Kimmich, the CFO of Koenig & Bauer AG, said: “For 2021 as a whole, we now expect organic growth in Group revenue of 7-10 per cent to €1.1bn - €1.35bn thanks to our strong order books and intake together, with the upgraded forecast of the International Monetary Fund and our industry association VDMA for the economy as a whole as well as underlying sector conditions.