KBA Q1 Report: Earnings Hit by Behind-Schedule Sales

Improvement in sheetfed earnings

At €132.8m the volume of new orders in our sheetfed offset division failed to reach last year’s €152.9m by 13.1 percent, which benefited from a very successful pre-drupa event. Whereas revenue of €98.2m from sheetfed offset presses was roughly level with the previous year (€100.9m), the volume of unfulfilled orders for sheetfed offset presses rose by 3.4 percent to €207.8m. Weak sales accounted for an operating loss of €5.9m, which due to cost-savings and increased efficiency is nevertheless a significant improvement on last year’s figure (–€13.3m). The same is true of our gross margins.