Koenig & Bauer: Stock slips on disappointing outlook

Koenig & Bauer AG

21/03/2019 08:27

** Shares in Koenig & Bauer  SKBG.DE  drop 7% after co
reports FY results  urn:newsml:reuters.com:*:nFWN217119
    ** Bankhaus Lampe says group revenues grew by only 1% in FY
2018 due to bottlenecks in the supply chain
    ** Brokerage says results are in line with cons.
expectations but "short and medium term outlook disappoints"
    ** Co projects revenues of up to ~EUR 1.275 bln (cons. EUR
1.3 bln) and EBIT of ~EUR 77 mln (cons. EUR 87 mln) for FY19 
    **  Bankhaus Lampe believes consensus mostly includes the
strategic costs, which suggests downside risk of slightly more
than 10% in terms of the EBIT
    ** Broker adds medium-term guidance (2023) calls for a
revenue CAGR of 4% including contributions from new markets
    ** Stock is 2nd-biggest faller on SDAX  .SDAXI 

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