Koenig & Bauer Q1 Report 2023

Q1 at a glance: Koenig & Bauer enjoys a dynamic start to the new financial year and confirms forecast for 2023

• Growth across all segments led to a surge in revenue of 17.9% to €2810m (previous year: €238.4m) in the first quarter of 2023 and thus the highest Q1 revenue in the Company’s recent history
• EBIT improved by €5.3m to € -3.2m (previous year: €-8.5m), equivalent to an increase of 62.4% over the first quarter of 2022; this marks a big step forward in the first quarter 2023 towards achieving the Group’s targets; EBIT margin -11% (previous year: -3.6%)
• Increase in the cost of materials, in personnel and energy costs was nearly offset by price rises
• Free cash flow impacted by changes in net working capital and high order backlog
• At €301.2m (previous year: €349.1m) the order intake in the first quarter was in line with expectations; this means that order intake returned to a robust level, as forecasted
• The order backlog reached €970.6m, exceeding the previous year’s figure of €917.5m
• Outlook for 2023 reaffirmed: revenue growth to €1.3bn along with an EBIT margin of around 3%