Koenig & Bauer AG
Koenig & Bauer AG: higher profits on lower sales
KOENIG & BAUER AG / Final Results Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- In 2007 Koenig & Bauer AG (KBA) posted group sales worth €1,703.7m, not far off the previous year’s record figure of €1,741.9m. But at €1,546.9m the volume of new orders was 6.2% lower (2006: €1,649.7m) following the economic downturn in the US, weaker demand for big press lines and a slump in demand for gravure presses. The order backlog shrank accordingly to €791.9m, from €948.7m a year earlier. But the impact of higher material and labour costs, and provisions for capacity adjustments at web press production plants, was more than offset by systematic cost reductions and improved margins on goods shipped. As a result operating profit jumped from €46.2m in 2006 to €65.7m. Pre-tax earnings (EBT) soared to €63.2m (2006: €47.4m) and group profit climbed to €49m (2006: €34.3m), though there was a modest financial loss. Earnings per share rose to €3 (2006: €2.11). The parent’s retained earnings, which determine dividend payments to shareholders, fell to €10.8m (2006: €16.1m). Nonetheless, at the annual shareholders’ meeting in Würzburg on 19 June the management and supervisory boards will propose paying out €9.8m – equivalent to a dividend of 60 cents (2006: 50 cents). President and CEO Albrecht Bolza-Schünemann says: 'Provided the global economy remains on a relatively steady footing, we anticipate group sales for 2008 of around €1.6 billion and group earnings before taxes (EBT) on a par with 2007. But in view of the current scenario and the associated risks, we are unable to make more precise projections at this point in time. When the Drupa international trade fair closes its doors in June we shall have a clearer idea of developments in key overseas markets, the investment climate in our industry and our prospects for the rest of the year and beyond.' 31.03.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: KOENIG & BAUER AG Friedrich-Koenig Straße 4 97080 Würzburg Deutschland Phone: +49 (0)931 909-4835 Fax: +49 (0)931 909-6015 E-mail: bernd.heusinger@kba-print.de Internet: www.kba-print.de ISIN: DE0007193500 WKN: 719350 Indices: SDAX Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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