Koenig & Bauer Full-Year Report 2022

At the end 2022, the Koenig Bauer & Group’s order intake came to €1,329.3m, up 3.0% on the already good figure of €1,290.6m reported in the previous year. At €1,185.7m, Group revenue exceeded the previous year’s figure by 6.3%.

Gross profit increased to €317.4m (previous year: €298.1m) despite the higher production costs. The gross margin widened slightly to 26.8% (previous year: 26.7%), also due to the effects of P24x. At €54.2m (previous year: €46.7m), R&D expenses were up on the previous year, mainly due to the higher depreciation and amortisation of development costs. Selling expenses rose to €147.3m (previous year: €1311m) primarily as a result of elevated freight, travel and advertising costs. Administrative expenses also climbed by €4.4m over the previous year due to the increase in Group am- ortisation and depreciation expense as well as higher personnel expenses, amounting to €92.8m (previous year: €88.4m). Net other expenses came to €-0.6m, compared with €-4.4m in the previous year.

The improvement in operating earnings over the previous year is mainly due to the P24x efficiency programme (roughly €30m) despite the lower use of short-time work in the previous year (roughly €8m), positive volume and mix effects (roughly €19m) and other negative effects that also include loss allowances on receivables and currency-translation effects (roughly €14m). The effects of higher cost of materials and energy (around €31m) were not fully offset by the announced price increases (roughly €21m). This is primarily due to the time lag in the third and fourth quarters of 2022 in particular between price increases and cost increases, for example in con- nection with energy costs and electronic components.