KBA Reports Double-Digit Jump in New Orders

Published: November 18, 2003, By pffc-online.com

PRESS RELEASE

WÜRZBURG, GERMANY—German press manufacturer Koenig & Bauer (KBA) reports, for the first time in two-and-a-half years, it posted a double-digit leap in incoming orders at the end of Q3 this year. KBA says the 10.4% increase amounts to €854.3m as compared to €773.7m during at the end of the same period last year.

The double-digit growth is among the financial accomplishments KBA is announcing. In addition, the OEM says it has recorded above-average sheetfed offset press sales, group sales are on target, restructuring costs are hitting profits, and web press orders are up. "For the first time in 30 months," says KBA, "there was a visible increase in new orders for web and special presses, a division badly hit by the economic downturn. The inflow of orders in the nine months [prior] to [the end of September] swelled to €371.1m, or seven percent more than for the same period in 2002 (€347.7m)." KBA does admit sales overall sales are down from the year prior 2002, at €386.3m, 29.2% lower than the €545.6m 2001 number.

According to KBA, for 2004, the group anticipates substantially higher sales and earnings, in line with increased plant utilization at its web press facilities, especially if, as expected, the global economy experiences a sustained recovery. "The Drupa trade fair scheduled for May [2004] should also stimulate sales," adds the manufacturer.

Visit KBA at kba-planeta.de.