KBA Sees Perceptible Upturn in Printing Press Sector

Higher pre-tax profit targeted for 2010
Slower sales and the bigger inventories built up for increased shipments in the second half-year are having a modest impact on earnings, the operating cash flow and liquidity, making a pre-tax loss likely for the six months to 30 June even though earnings will improve compared to the previous year. At the same time Hansen sees the moderate increase in sales and pre-tax earnings targeted for 2010 as being within reach. By dint of cutting material and personnel costs by some €110m, in 2009 KBA was unique among the world’s leading German, Japanese and US press manufacturers in bucking the industry crisis to post a pre-tax profit of €2.7m. Savings are expected to top €582m by the end of 2012.