Koenig & Bauer AG achieved profitable growth in 2022, exceeding its own EBIT forecast as well as market expectations in a challenging environment. 

“Our performance last year shows that we are headed in the right direction for sustainable growth. We were able to post increases in all key performance indicators,” says Dr Andreas Pleßke, Chief Executive Officer of Koenig & Bauer.

“That is why we have deliberately chosen the motto “Metamor[e]phosis” for our annual report. It reflects the fact that it is both the Company’s maxim and part of its DNA over a history spanning more than 200 years to constantly evolve, highlights the importance that we have always attached to adaptability and shows how our “Exceeding Print” strategy and our P24x efficiency programme are enabling us to master the necessary transformation.”

Group revenue increased by 6.3% to €1,185.7m in 2022, thus reaching the upper end of the range of €1,160 – 1,190m that had been specified in November. 

As in the previous year, almost 30% of revenue was generated by service business. All three segments contributed to this increase, with Digital & Webfed even posting double-digit growth. 

In the fourth quarter of 2022 in particular, Koenig & Bauer achieved a significant increase over the same period in the previous year, with revenue coming to €380.0m (previous year: €328.4m) and EBIT to €25.0m (previous year: €11.8m).  

In cumulative terms, earnings before interest and taxes (EBIT) amounted to €22.0m, exceeding both the Company’s own concrete forecast of €15 – 20m (EBIT margin: 1.3% – 1.7%) and market expectations (previous year: €28.5m; 2.6%). 

The EBIT margin stood at 1.9%. Allowing for the adjustment of around €23m to the P24x restructuring provisions in the previous year, Koenig & Bauer was thus able to improve its operating profitability substantially. 

In particular, the main drivers of this performance were the more efficient response to the challenges posed by supply-chain and capacity constraints as well as the success of the measures implemented in the efficiency programme. 

On the other hand, there was a massive rise in raw material and energy prices, which it was not possible to pass on to customers in full or only with a delayed effect by means of the price increases announced or implemented. 

After net interest expense of €–8.8m, earnings before taxes (EBT) came to €13.2m. After income taxes of €–2.1m, the Group posted net profit of €11.1m in 2022, equivalent to earnings per share of €0.63.

At the end of 2022, the Koenig & Bauer Group’s order intake stood at €1,329.3m, up 3.0% on the previous year’s already good figure. The book-to-bill ratio of 0.8 in the fourth quarter was also in line with the Company’s own forecast. The order backlog reached €950.4m, substantially exceeding the previous year’s figure.