Brief: Koenig & Bauer 9-Mth EBIT Down At EUR -102.2 Mln

Koenig & Bauer AG

11/11/2020 06:37

Nov 11 (Reuters) - KOENIG & BAUER AG  SKBG.DE :
    * IN Q3, ORDER INTAKE WAS DOWN 13.8% AT EUR 232.6M AND
REVENUE WAS
DOWN 32.2% AT EUR 198.1M YEAR-ON-YEAR
    * 9-MONTH NEW ORDERS OF EUR 712.8M WERE BELOW PREVIOUS
YEAR'S
FIGURE OF EUR 843M BY 15.4%,
    * ON BALANCE, AN EBIT OF -EUR 61.3M IS REPORTED FOR Q3
    * OUTLOOK 2020: EXPECT GROUP REVENUE TO REACH A FIGURE OF
BETWEEN
EUR 900M AND EUR 950M AND A NEGATIVE EBIT BEFORE SPECIAL ITEMS
IN MID DOUBLE-DIGIT MILLION RANGE
    * 9-MONTH CUMULATIVE REVENUE CAME TO EUR 602.6M
    * 9-MONTH EBIT  CAME TO -EUR 102.2M (2019: EUR 5.2M)
    * 9-MONTH GROUP NET EARNINGS TO -EUR 109M (2019: EUR 1M)
    * ANNUAL COST SAVINGS OF OVER EUR 100M SHOULD INCREASINGLY
BE
ACHIEVED UNTIL 2024
    * MODERATE GROWTH EXPECTED IN NEXT FEW YEARS TO GROUP
REVENUE OF
AROUND EUR 1.3BN AFTER COMPLETION OF FOUR-YEAR PROGRAMME

Source text for Eikon:  ID:nNDL9WlYrS 
Further company coverage:  SKBG.DE 

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