We print
your world.
Q1 2021
Dr. Andreas Pleßke, CEO | Dr. Stephen Kimmich, CFO
04 May 2021, Würzburg
1 | we're on it. | 02/05/2021 |
Koenig & Bauer at a glance.
1. | Business performance at a glance. |
2. | Figures Q1 2021. |
3. | Segments. |
4. | Efficiency programme P24x. |
5. | Market outlook & forecast. |
- Further improvement in operating profit achieved in Q1.
- Increase in order intake, particularly due to Sheetfed segment.
- Business performance still impacted by travel restrictions.
-
Covid-19-relateddecline in Group sales - but better than industry average according to VDMA,
improvement in EBIT despite decline in sales. - FCF improves and net financial position reduced.
- Segments affected to varying degrees by Covid-19
- Double-digitgrowth in order intake in Sheetfed segment.
- Further measures under the P24x efficiency program were also successfully implemented in the first quarter of 2021, which had a positive impact on the Group's earnings performance.
- Fundamentally intact end markets with different growth opportunities. Forecast 2021: +4% sales, break-even EBIT; medium-term targets confirmed.
2 | Koenig & Bauer | Q1 figures 2021 |
Business performance at a glance.
First Quarter 2021.
-
5.3% increase in incoming orders to €286.0 million - particularly due to double-digit growth in the Sheetfed segment - of which around 60% is attributable to the packaging printing market, which is growing strongly and is more resistant to pandemics. This enabled Koenig & Bauer to
further expand its market position with sheetfed offset presses in packaging printing. - Covid-19-relateddecline in Group sales of 7.8% to €243.5m - but better than the industry average with a drop of 13.5% for printing presses according to VDMA.
- Efficiency program P24x has a positive impact on earnings development; despite decline in sales, EBIT improves by €8.1m to -€8.9m.
- Net loss increases to -€11.7m as of March 31, 2021.
- Free cash flow improved by €53.4m to €22.1m.
- Despite persistent Covid 19 situation worldwide, net financial position significantly reduced to -€26.0m.
- Order backlog increased by around 7% compared to year-end to €674.5m and serves as a solid basis for the rest of fiscal 2021.
- Planned organic sales growth of around 4% with balanced EBIT for 2021 and medium-term targets of €1.3 billion sales with an EBIT margin of at least 7% confirmed.
3 | Koenig & Bauer | Q1 figures 2021 |
Figures first Quarter 2021.
Business development in the group.
Order Intake 01.01. - 31.03. | Revenue 01.01. - 31.03. | Order backlog 31.3. | ||
-2,7% | ||||||||
+5,3% | -7,8% | 693,2 | 674,5 | |||||
In €m | 271,5 | 286,0 | 264,2 | 243,5 | In €m | |||
2020 | 2021 | In €m | 2020 | 2021 | 2020 | 2021 | ||
• Despite a reluctance to invest, particularly in new market segments due to the global covid 19 pandemic, incoming orders were 5.3% up on the previous year.
- At 7.8%, the drop in sales was less pronounced than the 13.5% decline in printing presses according to the VDMA.
-
The order backlog declined slightly by around 3% compared to the prior-year quarter,
but increased by 6.7% compared to the end of the year and serves as a solid basis for the rest of fiscal 2021.
4 | Koenig & Bauer | Q1 figures 2021 |
Figures first Quarter 2021.
Business development in the group.
EBIT 01.01. - 31.03. | EBIT- bridge ∆ €8.1m |
20202021
In €m | -17,0 | +47,6% | -8,9 |
_
+
+
Volume and product mix (approx. €7m) P24x (approx. €10m)
Short-time work (approx. €5m)
- Despite lower sales compared to the previous year, the earnings situation in the Group developed more positively
- Despite a negative volume and margin effect in Q1, the €8.1m improvement in EBIT to €8.9m is mainly attributable to the P24x efficiency program, lower functional costs and the use of short-time working.
5 | Koenig & Bauer | Q1 figures 2021 |
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KBA - Koenig & Bauer AG published this content on 04 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 May 2021 05:32:09 UTC.