Bolza-Schünemann Resigns from KBA; Company Reports Press Sales Decline

An operating profit of more than €100m on web and special presses contrasted with a loss of over €180m in the sheetfed division. Substantial provisions for the proposed restructuring of domestic and foreign sheetfed production plants and for related inventory valuation adjustments, write-downs on bad debts and other remedial measures resulted in a one-off charge in the high double-digit millions, an operating loss of around €80m and a pre-tax loss (EBT) of more than €85m. However, the group did post a modest EBITDA profit of under €10m.