KBA Reports Sheetfed Press Orders Hit Harder than Web

A higher service turnover and solid earnings in niche markets less affected by the recession pushed up the profit generated by the web and special press division from a healthy €63.1m in 2007 to €108.5m. This contrasted with a heavy loss of €188.4m (2007: €2.6m profit) in the sheetfed division due to capacity underutilization and substantial one-off expenses in preparation for the proposed realignment. The outcome was a financial loss of €7.2m, pre-tax earnings of –€87.1m (2007: €63.2m profit) and a group loss of €101m (2007: €49m profit). Net earnings per share came to –€6.18 (2007: €3.00). At the AGM on 18 June the management and supervisory boards will therefore table a motion to dispense with a dividend.