KBA Financially On Target with Nine-Month Figures

The figure for the emerging markets Latin America and Africa soared to an above-average 25.3 percent (2011: 11.4 percent). In contrast, sales in North America contributed 10.1 percent to the total, remaining below the long-term average.

Continued solid finances and balance sheet

The increase in sheetfed sales planned in the fourth quarter has led to a temporary rise in working capital. However, the improvement in earnings and drop in trade receivables increased cash flow from operating activities to €66.1 million (2011: €64.6m). The free cash flow climbed from €40.7 million to €49.9m and raised funds to €193.4 million accordingly. This process is supported by active cash management and objectives linked to financial figures.