Koenig & Bauer AG Reports Good Start to the 2011 Business Year

Export level remains at record high of 86.5 percent
Domestic sales climbed by 20.4 percent, but the export level remained unchanged at 86.5 percent because foreign sales soared. The contribution from the rest of Europe rose from 27.9 percent to 40.1 percent of group sales following a modest recovery in western and eastern states. However, southern Europe has yet to emerge from the economic crisis. North American sales accounted for just 7.6 percent, down from 15 percent. This historic low reflects a continuing reluctance among US newspaper printers to invest in new kit. While sales to Asia and the Pacific were higher, the regional contribution of 24.3 percent was lower than the previous year (27.7 percent). 14.5 percent of group sales were generated in Africa and Latin America.