KBA releases 2015 results

KBA has revealed its financial statements for 2015, which show that the company met its target of earning revenue over €1bn, with the final figure being €1,025.1m. That said, the figure was slightly below the previous year’s €1.1bn, which the company ascribed to the security press business and lower sales in the Digital & Web segment as a result of the company’s efforts at realigning its business.

CEO Claus Bolza-Schünemann said that the company was less dependent on the cyclical security business and media-driven publication printing, adding: “Packaging now makes up some 70% of group revenue with new presses, followed by security printing at around 20%. Media exposure now only totals around 10%.”

KBA increased its order intake year-on year from €956.9m to €1,182.7m. This has led to a higher order backlog of €157.6m, which ensures a solid level of capacity utilization in the run-up to Drupa.

The restructuring of the production and Digital & Web segment led to cost savings, with Earnings Before Interest and Tax for the group rising to €35.9m compared to €13.3m the year before. This breaks down to earnings of €25.5m for the sheetfed segment and €27.7m for Special projects, but with a loss of €10.9m for Digital and Web presses.

However, the company expects higher sales by the end of 2016, due both to its partnership with HP and increased sales of its own RotaJet presses. The group’s largest business unit, sheetfed, was up 6.9% year-on-year thanks to growth in the packaging market as well as in the service side of the business.

The group’s European revenue fell from 35.5% the year before to 29.4%. However, its North American revenues rose from 10.7% to 14%. The Pacific and Asian region also grew 23.9% to 32.7%. However, revenues fell in Latin America and Africa from 13.5% to 8.9% of the total, largely due to weak currencies and unstable political issues.

Despite weaker demand in China, KBA believes that strong demand for consumer goods will translate into more orders for printing equipment. Consequently the company is aiming for an increase in group revenue to around €1.1bn and an EBT margin between 3 and 4% in 2016.

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