logo
Share SHARE
FONT-SIZE Plus   Neg

Koenig & Bauer 2011 Pre-tax Profit Plunges - Quick Facts

Koenig & Bauer AG (KOEBF.PK) reported 2011 group pre-tax profit of 3.3 million euros, lower than 15.3 million euros last year.

Annual net income was 0.4 million euros, down from 12.5 million euros in the prior year. Earnings per share declined to 2 cents from 76 cents a year ago.

Group sales were 1.17 billion euros, marginally below the prior year's 1.18 billion euros, due to shipping delays and weak demand for sheetfed and web offset presses in the second half-year.

Group order intake reached 1.55 billion euros, the company's highest level since the record year of 2006 and up 20.8% from the previous year. The company attributed the higher order intake to brisk demand for security, metal-decorating and coding equipment.

Looking ahead, KBA management emphasised the higher risks that exporters face from slowing growth in major emerging markets, the high oil price and ongoing debt crisis in Europe. If market conditions remain stable, Koenig & Bauer is targeting a single-digit percentage increase in sales and a higher pre-tax profit.

In view of this unsatisfactory performance, and the current challenging business environment, the management and supervisory boards plan to dispense with a dividend for 2011.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Major League Baseball is talking expansion for the first time in a few decades. Owners stand to make a pretty penny from expansion fees and subsequent television rights. The possibility of a more balanced schedule is also enticing. Strong expansion candidates in the U.S. and Canada are ready... The New York Times is teaming up with Google again to give away Google Cardboard, the virtual reality headsets, but this time only to its "most loyal" digital subscribers. The company said that the digital-only subscribers selected for this distribution were chosen based on the duration of their subscriptions. Oil company Exxon Mobil Corp. on Friday reported a 63 percent fall in profit for the first quarter from last year, while Chevron Corp. reported a loss for the quarter, both on lower revenues. The results were impacted by the fall in crude oil prices and weaker refining margins. However, Exxon Mobil's earnings beat analysts' estimates, while Chevron's loss was wider than their expectations.
comments powered by Disqus
Follow RTT