With order intake reaching a “particularly high” €454.4m ($525 million) in the second quarter and with an order backlog rising to €805.8m ($932 million) at the end of the first half of the year, the Koenig & Bauer Group is on track to meet its targets for 2018, the Germany-based company reports.
Strong security business and more orders in packaging printing caused order intake to rise by 17.2 percent in the first half of 2018. Driven by the Q2 figure of €297.1m ($343.5 million), group revenue came to €514.4m ($595 million) but fell short of the previous year’s figure of €538.9m ($623 million) due to the even greater accumulation of delivery dates in the second half of the year, the company said. This was also reflected in EBIT, which at €10.6m ($12.3 million) was lower than in 2017, at €16.3m ($18.8 million).
The sheetfed segment reached a strong order intake of €326.3m ($377 million), exactly matching the previous year’s figure, which had been influenced by the Print China fair. “Substantial growth was achieved in large-format cardboard printing. As the world market leader in folding carton printing, we are benefiting from heightened capital spending of the international packaging printers,” said President Claus Bolza-Schunemann.
Orders in Digital & Web (€84.7m, or $98 million) were slightly down on the previous year (€85.7m, or $99 million) due to fewer orders for newspaper web presses and services.
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