Koenig & Bauer AG (MIL:1SKB)

Q2 2026 Koenig & Bauer AG Earnings Call Transcript

Aug 6, 2026 / 11:00 AM GMT

Release Date Price: €9.05

Transcript

Key Points

Positve

Koenig & Bauer AG (WBO:SKB) reported a record order backlog of over EUR1.1 billion and the highest order intake in eight years at EUR709 million, up nearly 17% year-over-year.
The company achieved a strong earnings turnaround in Q2 2026, with operating EBITDA of EUR17 million, a 38% increase, leading to a first-half EBITDA of EUR14.1 million, up over 20% from the prior year.
Koenig & Bauer AG (WBO:SKB) generated a positive free cash flow of EUR17.8 million in Q2, a significant improvement from the EUR55.3 million outflow in the same quarter last year, driven by a EUR60 million reduction in net working capital.
The Special & New Technologies (S&T) segment showed robust growth, with order intake exceeding EUR200 million in Q2 and a strong increase in operating EBITDA to EUR11.8 million for the first half, driven by banknote solutions and other new technologies.
The company is executing its strategic 'Impact' initiatives, including a 3% price increase in the paper packaging segment and the successful closure of its Frankenthal facility, demonstrating a commitment to improving competitiveness and reducing structural costs.
Koenig & Bauer AG (WBO:SKB) is outperforming the broader German machinery market, with sales up 1.4% against an industry decline of 14%, and is seeing a strong recovery in North America and growth in Africa and Latin America.

Negative

The Paper & Packaging segment remains under significant margin pressure, with a negative operating EBITDA of EUR-2.3 million for the first half of 2026, despite a positive Q2.
Revenues in Germany and the rest of Europe declined year-over-year, reflecting the weak economic conditions in the company's home market.
The Digital & Web business unit, while improving, is still loss-making, with an operating EBITDA of minus EUR1.8 million in the first half, and a clear timeline for breakeven remains uncertain.
The company anticipates further one-off restructuring costs as it continues its 'scalpel approach' to cost reduction, indicating that profitability will continue to be burdened by these charges.
The overall global economy remains challenging, with ongoing issues such as US tariffs, wars, supply chain disruptions, and high energy costs creating a difficult operating environment.
Customers in key markets remain hesitant to place large orders due to market consolidation, which could impact future order intake despite the current strong backlog.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SKBG.DE - Koenig & Bauer AG
Q2 2026 Koenig & Bauer AG Earnings Call
Aug 06, 2026 / 11:00AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, welcome to the Koenig & Bauer AG Q2 2026 Results Conference Call and Live Webcast. I'm Moritz Sekoros, call operator. I would like to remind you that all participants will be in a listen-only mode and the conference is being recorded. The presentation will be followed by a question-and-answer session. You can register for questions at any time by pressing star and one on your telephone. For operator assistance, please press star and zero. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Dr. Steven Kimmich, CEO. Please go ahead, sir.

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Unidentified_2 [2]

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