Q4 2025 Koenig & Bauer AG Earnings Call Transcript
Key Points
- Koenig & Bauer AG (WBO:SKB) met its full-year forecast for 2025, achieving its EBIT corridor and generating positive free cash flow.
- The company reported a high level of order backlogs and a solid order intake, with expectations of a stronger Q1 order intake compared to the previous year.
- Koenig & Bauer AG launched a new strategic framework called IMPACT, focusing on six pillars including Intelligence, Go-to-Market, People, Adaptability, Competitiveness, and Technology.
- The company saw significant growth in the Asia/Pacific region, with revenue increasing by over 30% in 2025.
- Operational performance improved due to efficiency enhancements and lower non-operating extra items, leading to a steady increase in profitability over the last two years.
- Despite meeting its targets, Koenig & Bauer AG faced challenges with a decrease in order intake due to exceptional events in 2024, such as the drupa fair and high orders from the Federal Reserve Bank.
- The Digital and Webfed segment experienced a challenging situation with lower order intake than expected, particularly in capital-intensive web digital printing machines.
- The company continues to face uncertainties due to geopolitical tensions and economic volatility, which may impact future performance.
- Koenig & Bauer AG's net result was slightly negative in 2025 due to a high negative tax result influenced by deferred tax assets.
- The company does not expect to pay dividends in the near term, as it aims to achieve a minimum earnings level before considering dividend payments.
Ladies and gentlemen, welcome to the Koenig & Bauer AG Q4 2025 results conference call and live webcast. I'm Moritz, the Chorus Call operator. (Operator Instructions) The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Dr. Stephen Kimmich, CEO. Please go ahead, sir.
Good afternoon and welcome to today's conference call. Thank you for joining. And as just announced, we will, of course, walk you through our year-end results throughout the course of today's presentation. I'm here together with CFO, and my colleague, Dr. Alexander Blum.
And I will start, as usual, and give a brief overview of what is happening at Koenig & Bauer, some of the highlights and what we're working on, and set the frame for what happened in 2025 and what we expect in 2026. And then, I'll hand over to Alex for walking you through the slides and figures in more detail.
So we announced already a few weeks ago with our preliminary
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