"We want to take advantage of the market opportunities offered by corrugated cardboard, flexible packaging and double-cans printing for profitable growth," said Mathias Dähn, CFO.
Koenig & Bauer will join the board of directors by removing Andreas Pleßke from the board on December 1. He served as a restructuring director from 2014 to 2016 for one year until May 2018. Based on additional business prospects, SDax listed shares increased 3%.
In today's business, Koenig & Bauer suffers from shortages and short delivery times, jeopardizing its 2018 sales target. The company expects a sales increase of 4%, but the bottleneck can turn the sales of 35 million euros into a new year. "We are currently working on a massive scale in optimizing the entire supply chain," said CEO Claus Bolza-Schünemann. CFO Dähn was confident of achieving 7% sales revenue before taxes and interest accrued in 2018.
After 9 months, sales were 778.8 million euros, down 7% from the previous year. Interest and pre-tax profit (EBIT) fell 21% year-on-year to EUR 28.6 million.