Group
Interim Report
Third Quarter 2021
Koenig & Bauer Group in figures
01.01. - 30.09.
in €m | 2020* | 2021 | ||
Order intake | 712.8 | 978.6 | ||
Revenue | 764.5 | 787.4 | ||
Order backlog at 30.09. | 634.2 | 823.2 | ||
Export level in % | 84.7 | 86.1 | ||
Earnings before interest and taxes (EBIT) | -74.1 | 16.7 | ||
Earnings before taxes (EBT) | -77.8 | 8.8 | ||
Net profit/loss | -86.9 | 5.5 | ||
Balance sheet total at 30.09. (prior year: 31.12.) | 1,321.1 | 1,290.3 | ||
Equity at 30.09. (prior year: 31.12.) | 342.2 | 359.4 | ||
Investment in intangible assets, | ||||
property, plant and equipment | 27.3 | 19.3 | ||
Depreciation on intangible assets, | ||||
property, plant and equipment | 25.4 | 27.6 | ||
Payroll at 30.09. | 5,635 | 5,410 | ||
- thereof apprentices/trainees | 339 | 323 | ||
Cash flows from operating activities | -47.8 | 33.3 | ||
Earnings per share in € | -5.28 | 0.31 | ||
* adjusted
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Contents
Letter to shareholders | 4 |
Koenig & Bauer shares | 9 |
Group management report 10
10 | Macroeconomic and | |
industry conditions | ||
10 | Business performance | |
12 | Earnings, finances and assets | |
14 | Segment performance | |
16 | Risks and Opportunities | |
17 | Outlook | |
Interim accounts | 21 | |
21 | Group balance sheet | |
22 | Group income statement | |
22 | Statement of changes in | |
Group equity | ||
23 | Statement of comprehensive | |
Group income | ||
24 | Group cash flow statement | |
25 | Notes | |
Key financial dates | 28 |
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Letter to shareholders
Dear shareholders,
The first nine months of 2021 were favourable for the Koenig
- Bauer Group in several respects. Operating earnings continued to improve, while we registered a historically high order backlog of €823.2m at the end of September. Our customers ordered around 56% more in the third quarter and around 37% more for the first nine months of 2021 than in the previous year. This performance was particularly underpinned by the increase of around 54% in the Special segment. Orders were up on the previous year in all parts of this segment, especially driven by securities business. This shows that the banknote has retained its rightful place as a means of payment, especially in the pandemic, and will also remain relevant in the virtual world. Order intake was also up in the Sheetfed segment again, rising by around 36%, with the sharply expansionary and more pandemic-resistant packaging printing market accounting for the bulk of this growth. In mid-October we were able to combine the best of both worlds in the Sheetfed segment with the world premiere of the Koenig & Bauer Durst VariJET 106. This is because, with an output of 5,500 sheets per hour, the B1 press combines
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Letter to shareholders
from left to right: Dr Andreas Pleßke
CEO - Board member Special segment Dr Stephen M. Kimmich
CFO
Michael Ulverich
COO - Production, Purchasing & Logistics
Ralf Sammeck
CDO - Board member Sheetfed segment
Christoph Müller
Board member Digital & Webfed segment
digital inkjet and classic offset printing. It features the basic technologies specifically required for automated, efficient, food-compliant printing systems and offers the shortest response times, variant diversity as well as individualization and enables efficient short-run printing capabilities. In this way, it is addressing growing customer demand for sustainability and focusing on the ability to meet brand- name companies' requirements with respect to multichannel communications, including e-commerce. The beta test is to commence under the guidance of Koenig & Bauer and Durst in the coming weeks. The first VariJET 106 units are expected to be installed at customer sites in Europe and America in the second half of 2022. The target groups are folding carton manufacturers for the pharmaceutical, cosmetics, tobacco and food industries. This shows that our customers' spending reticence is beginning to dissipate in many areas. Nevertheless, some new investments are being postponed due to the uncertainty surrounding the Covid-19 pandemic. In the first nine months of 2021, this mainly relates to order intake in the Digital & Webfed segment, although there were first signs of
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KBA - Koenig & Bauer AG published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 05:40:04 UTC.