KBA Reports 2008 Sales and Profit Targets No Longer Attainable

WÜRZBURG, GERMANY--09/26/08--Following a supervisory board meeting to discuss the latest financial figures, Koenig & Bauer AG (KBA) management board announced a downward adjustment in the 2008 earnings forecast issued on 31 March and reaffirmed at the AGM on 19 June in the wake of a highly successful Drupa trade fair. KBA anticipates a slide in group sales for the current financial year (ending 31 December) from EUR1.6bn to around EUR1.5bn. Pre-tax earnings, which were originally set to equal last year's figure of EUR63.2m, will turn negative in view of a considerable slump in sales of sheetfed presses, provisions for consolidating sheetfed production activities, and adjustments in inventory value.