Koenig & Bauer News Feed https://www.koenig-bauer.com/ en Koenig & Bauer AG Sun, 17 Jan 2021 20:52:03 +0100 Sun, 17 Jan 2021 20:52:03 +0100 news-1874 Tue, 12 Jan 2021 08:10:16 +0100 Huston Patterson Delivers Quality and Service With New Koenig & Bauer Rapida 164 Eight-Color Press http://iberica.koenig-bauer.com/en/news/detail/article/huston-patterson-delivers-quality-and-service-with-new-koenig-bauer-rapida-164-eight-color-press/
  • “Go-to” press handles the bulk of the firm’s work for an elite list of premium customers
  • New Koenig & Bauer press increases packaging productivity with end-to-end solutions
  • Eighth printing unit differentiates firm from its competitors and gains additional color critical work
  • When Huston Patterson chose to specifically invest in a new eight-color Koenig & Bauer Rapida 164, its management team, led by Tonya Kowa-Morelli, saw the potential of being of the only printer among its competitors with this specific large-format configuration. The Illinois-based packaging printer gave its sales staff the unique advantage to sell jobs designed for a 64-inch eight-color press with the option of UV or AQ coating. Since the installation at its 110,000 sq ft Decatur facility, the firm is producing top-notch color critical packaging that can be found up and down the aisles of any retailer such as a local grocery store, pharmacy, Walmart, and Amazon.

    Operating 24/7, its new Rapida 64-inch press is in full production along with its Rapida 56-inch six-color press. “These are our go-to presses,” Tonya Kowa-Morelli, Huston Patterson’s president. “But the new Rapida 164 has the speed, automation, and color control features that can produce more efficiently for our higher-end color critical work. Our internal tracking system tells us that the new Rapida is giving us 15% faster speeds and has reduced our makeready in half. In particular, Koenig & Bauer’s color management system with internal camera allows us to excel at efficiently matching color and producing jobs built with five, six, seven or more PMS colors. We have to meet the demands of our clients and the Koenig & Bauer color management system ensures we exceed their expectations.”

    (Left to right) The Huston Patterson team: CEO/Chairman Thomas Kowa; Director of Press Operations Zachary Kowa; VP of Sales and Marketing Joe Morelli; and President Tonya Kowa-Morelli, are pleased with the high speed, automation, and color control features of their new eight-color Koenig & Bauer Rapida 164 press

    Kowa-Morelli is grateful that the firm already had the new press in operation before 2020 hit. As a business owner, she acknowledges that it’s been a challenging year yet she proudly notes that the month of September has been the firm’s best ever over the course of its history and sales have been growing during the past three months along with ten new clients, all on board virtually. During the spring when most printers were affected by the pandemic, Huston Patterson saw an increase in its consumable goods and pharmaceutical packaging, specifically the quick production of thousands of much-needed COVID test kits.

    “The start-up of this new Koenig & Bauer press was our most exciting,” she says. “We’ve had four previous Rapida press installations but you could just see the massive speed, all of its new technology, and computerization. Our new Rapida 164 has certainly surpassed our expectations. We’ve formed a strong alliance with Koenig & Bauer over the years, which has maximized our firm’s growth over the three generations of our family’s ownership of the business.”

    “We are so proud of the continued close partnership Koenig & Bauer enjoys with the Kowa family and Huston Patterson,” says Steve Korn, director of national and key accounts for Koenig & Bauer. “The new Rapida 164 will provide Huston Patterson with a competitive edge and provide its customers with unrivaled specialty printing and coating options for the foreseeable future."

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    news-1871 Wed, 16 Dec 2020 09:18:11 +0100 KOLB accelerates digital post-printing after CorruJET 170 success http://iberica.koenig-bauer.com/en/news/detail/article/kolb-accelerates-digital-post-printing-after-corrujet-170-success/
  • German corrugated board manufacturer says new CorruJET 170 is the heart of digital production
  • Printing on brown liner and recycled materials on this quality level not possible previously even with conventional technologies
  • Koenig & Bauer Durst answering customer demands for fast, automated, reliable and agile printing systems
  • HANS KOLB Wellpappe has confirmed an accelerated growth path towards digital production after Koenig & Bauer Durst’s CorruJET 170 achieved high expectations. Fast time-to-market scenarios, increased versioning and reduced run lengths are major reasons for the strategic shift as customers continue to drive change.

    The CorruJET 170 used for digital post-press printing on corrugated board is the crucial part of the extensive investments made by KOLB over recent years and is a centerpiece of its digital strategy. It is based in dedicated premises close to the group’s headquarters at Memmingen, Bavaria, Germany. The machine delivers high-resolution digital print at production speeds of up to 5,000 boards per hour, handles formats up to 1,700 x 1,300mm (66.9 x 51.2in) and a print resolution of 1200x600 dpi.

    KOLB Group´s headquarters (1)

    Sebastian Fromm, Production Manager at KOLB Digital Solutions, said: “There is no media in the KOLB Group that the CorruJET 170 doesn’t print. It doesn’t matter whether the substrate is coated, uncoated or even brown liner. Incredible flexibility and print quality, no need for post coating on uncoated boards. This is a very innovative, highly automated solution also for high-volume production with non-stop feeding and non-stop stacking. The CorruJET 170 is the benchmark for quality printing for uncoated markets, especially with the brown and white recycled substrates, which was not possible before, even with conventional technologies.

    The variety of products we can print is incredible. Take our regular business as one example. Ten years ago, there would be one product, now you have the same product in four different varieties, each requiring special packaging that can only be produced digitally viably. Run lengths may be going down, but the varieties will continue to expand. This leads to stronger product diversification and, for us, the opportunities seem to be endless. Some on-demand jobs involve printing as little as 500 sheets, which takes just six minutes to complete, but the press is also used for orders of more than 20,000 sheets.  There are almost no set-up costs, whatever the run length, and each sheet costs the same to print.”

    The CorruJET 170 also benefits from having food safe inks, which is extremely important for the packaging market. The Koenig & Bauer water-based inks for the CorruJET 170 are formulations accepted in the Swiss Ordinance, EuPIA, Nestle Ink list and are fully GMP produced.

    The CorruJET 170 press for the corrugated board industry was developed by Koenig & Bauer, which was able to call on its extensive experience already gained with the RotaJET. The combination of high quality and maximum throughput is a key distinguishing feature of the CorruJET 170. The incorporation of a coating unit provides for gloss or matt coating of the four-color images printed using water-based inks.

    The CorruJET 170 press at KOLB Digital Solutions (2)

    The KOLB Group develops and produces a broad spectrum of packaging, packaging materials and special corrugated board products. Group Managing Director Dr Bernhard Ruffing said: “The CorruJET 170 is a crucial part of the extensive investments we have made over recent years as part of our great efforts to optimize the technological process chain. Market changes mean that our customers demand fast turnarounds and increased versioning – all produced at the highest quality. Against this background, the focus is increasingly turning to the option of digital post-printing, especially with uncoated markets and brown paper substrate opportunities.”

    The CorruJET 170 machine is now within the portfolio of the joint venture company Koenig & Bauer Durst set up in 2019. Robert Stabler, Managing Director of Koenig & Bauer Durst, said: “With the CorruJET 170, KOLB is extremely well equipped to respond to future customer demands as it continues to open up new market opportunities. The need for fast, automated, reliable and agile printing systems has never been greater in a fast-paced world where the only constant thing is change. Fast shifts in demand require an all-in-one digital solution to meet brands requirements, which we deliver in a partnership approach.”

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    news-1868 Mon, 14 Dec 2020 16:58:19 +0100 Koenig & Bauer sharpens its focus on sustainability http://iberica.koenig-bauer.com/en/news/detail/article/koenig-bauer-sharpens-its-focus-on-sustainability/ With the establishment of a department devoted specifically to sustainability under the supervision of the new board spokesman Dr Andreas Pleßke, Koenig & Bauer is intensifying its activities in a field which is seen as immensely important for the future development of the company group. Employees (social responsibility), environment (ecological responsibility), governance, society & outreach and integrity & compliance are the five pillars of the Koenig & Bauer sustainability concept. The concept was elaborated on the basis of Agenda 2030 of the United Nations, whose 17 Global Goals aim to secure sustainable development on the economic, social and ecological levels. Dr Bernd Heusinger, who has served Koenig & Bauer in various functions since 1999, will be assuming responsibility for the new sustainability remit alongside his current corporate office duties for the supervisory board of Koenig & Bauer AG. The area of investor relations, which falls under the mandate of Chief Financial Officer Dr Stephen Kimmich, will be passed on to Lena Landenberger with effect from 1st January 2021.

    After graduating with a degree in business law, Lena Landenberger began her career in the auditing division of Ernst & Young AG. Subsequently, she spent three years at ElringKlinger AG in the department for investor relations, business press and corporate communication. She then moved to Heidelberger Druckmaschinen AG as investor relations manager in July 2011 and studied for a Master in Business Law (LL.M.) parallel to her work there.

    Lena Landenberger will in future be responsible for investor relations at Koenig & Bauer

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    news-1865 Mon, 14 Dec 2020 07:47:00 +0100 Rand Graphics Anticipates Significant Gains With New Koenig & Bauer Rapida 105 Six-Color http://iberica.koenig-bauer.com/en/news/detail/article/rand-graphics-anticipates-significant-gains-with-new-koenig-bauer-rapida-105-six-color/
  • Replacing two older 41-inch presses with another Koenig & Bauer new highly-automated press
  • Consolidating its print production under one expanded 200,000 sq ft facility providing 25% more efficiency
  • Wichita, Kansas print specialist in point-of-purchase applications will be delivered in spring 2021
  • When more than three-quarters of your work constitutes printing on non-traditional substrates such as plastics, vinyls, rigid vinyls, PRV, and PETG, a fully-automated press with LED-UV capabilities is a necessity. Rand Graphics, a full-service print specialist based in Wichita, Kansas, is preparing for the 2021 spring delivery of a new Koenig & Bauer Rapida 105 six-color 41-inch press with LED-UV curing technology to provide a significant advantage in running these challenging substrates more efficiently and providing its large format POP clients with even higher quality.

    (Left to right) Randy Vautravers, president of Rand Graphics; and Trey Holmes, plant manager of its Large Format Division anticipate the spring arrival of its Rapida 105 six-color press, which will produce print jobs on non-traditional substrates along with its Koenig & Bauer Rapida 205 81-inch press

    Significant 15% efficiency and productivity gains

    “This new press investment will significantly streamline our production and increase our overall efficiency and productivity,” says Randy Vautravers, president of Rand Graphics. “Having the Rapida equipped with LED-UV provides us with a low-temperature exposure on our heat-sensitive substrates. That type of work makes up more than 70% of our output with the rest coming from conventional papers. We’re always cognizant of reducing waste since these specialty substrates are expensive.”

    Vautravers has also chosen to equip the new Rapida with a full closed-loop solution, which ensures that complete information is available to the entire company through all process steps. Management is provided with a 360° overview of all company activities.  

    “One of the many reasons that customers seek us out is our ability to partner with them using a consultative approach,” explains Vautravers. “We can offer them many different options, due to the array of print production solutions on our pressroom floor. Being located in the middle of the country allows us to reach both coasts quickly and easily with lower shipping costs.”

    Consolidation of facilities brings 25% efficiency gains

    The Wichita firm prides itself on its full service abilities that utilize its fleet of litho, screen, and digital small and large format presses and full service bindery, finishing, fulfilment, and e-commerce solutions. To better serve its clients with faster turnaround and increased efficiency, Rand has been consolidating its facilities and preparing for the spring delivery of the new Rapida. Its existing Koenig & Bauer Rapida 205 81-inch press---the largest in the world---will continue manufacturing at its present location. The new Rapida, which is replacing a Koenig & Bauer Rapida 105 six-color delivered in 2014 and a competitor’s press, will be installed alongside the Rapida 205. Vautravers says that the Rapida 205 continues to be a workhorse for the company. They turned to a third Koenig & Bauer due to their strong relationship with Koenig & Bauer.

    “We’ve estimated that we’ll be gaining 25% in more efficiency having all of our presses and production under one roof,” says Vautravers. “We won’t have the trucks running back and forth between each facility, thus saving time and gas, and enabling us to schedule better. And, we’ll be gaining more space with an increased facility of 200,000 sq ft for our 210 employees. The upcoming 2021 year is an exciting one for our company.”

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    news-1864 Wed, 09 Dec 2020 14:09:04 +0100 Visual PressSupport supports communication for remote maintenance http://iberica.koenig-bauer.com/en/news/detail/article/visual-presssupport-supports-communication-for-remote-maintenance/
  • Remote maintenance with live videos, photos, commenting functions, sharing of drawings, circuit diagrams, etc.
  • Specialists assist commissioning work and the clarification of technical process details
  • Perfect communication between users, service technicians and hotline
  • Like all other globally active companies, Koenig & Bauer is particularly affected by the current restrictions on travel. In this situation, data-driven services are helping to prepare machines for production and resolve service cases to the satisfaction of the users. The basis for this capability is a remote maintenance function which has been guaranteeing the high availability of Rapida sheetfed offset press on markets around the world since 1995. Where communication is conducted exclusively by telephone, however, there is a risk that only limited assistance can be provided or that the full scope of the issue cannot be conveyed when dealing with complex mechanical specifications or process-related issues.

    That is precisely the point at which Visual PressSupport comes into play. This ‘digital’ tool enables forms of information sharing with added value and greatly simplifies communication for users and hotline technicians alike. The hotline technician sees exactly what the operator or service partner at the press can see. He can observe relevant processes and functions as moving images, and thus obtains a faster and more comprehensive overview of the situation in the press room. That eliminates the need for lengthy descriptions and reduces the risk of misunderstandings compared to a simple telephone call.

    Koenig & Bauer Campus: Trainers and experts from Koenig & Bauer convey specialist knowledge in a small studio – also on the installation of UV dryers (1)

    Remote function checks and commissioning

    This is how it functions in practice: When a new press is being set up, the installation of the UV dryers must be entrusted to specialists. Due to the current restrictions, however, they were unable to travel to the site. And yet commissioning was still possible – thanks to Visual PressSupport.

    First of all, online training was organised for the local service technicians. This was provided through the Koenig & Bauer Campus, the press manufacturer’s training centre. The training course showed and explained the critical aspects of dryer installation and commissioning and the technicians received specific instructions for working on high-voltage equipment with voltages up to 4 kV.

    Subsequently, press assembly was completed and the dryers were installed. Before the press was started up for the first time, a dryer specialist from Koenig & Bauer was shown all the important points. This included the wiring of all electrical connections, the cable routing and the water cooling connections. The factory specialist was able to view the components via Visual PressSupport as still images or videos, and could guide the colleagues on site to those elements which required a closer check or further adjustments, for example by highlighting details on a drawing or screenshot. Communication was not limited to just speech, but also included live images and written comments. Checklists were tackled step by step in the same manner. Everyone was on the same page at all times, and gapless function checks were possible. The press and its dryers could be taken into production safely.

    Communication to check the settings of the flow sensor on a UV interdeck dryer (2)

    Diversity of applications

    There are many other ways in which Visual PressSupport is able to help. Printing process-related issues or mechanical problems can now also be solved remotely. The user of a large-format perfector press, for example, reported creasing of the sheet in the perfecting unit. Design engineers asked to be shown the sheets in question and certain mechanical elements via Visual PressSupport, and were able to determine an incorrect gripper setting. After correction, the press produced flawlessly once more.

    In another case, coating plate changes were not functioning properly. A visual check of the coating plate revealed that the wrong plate type was set on the console. Once the setting was changed, plate changing was back to normal.

    Visual PressSupport has established itself as a proven tool when providing service for sheetfed offset presses. Beside Koenig & Bauer Sheetfed, it is also used elsewhere in the company group – for example with presses and equipment from the business units Digital & Webfed, Coding and MetalPrint.

    Visual PressSupport enables remote checking that everything is correctly installed in the high-voltage section of the control cabinet. If necessary, the dryer specialist can highlight elements he wants to check more closely and where corrections need to be made (3)

    Prerequisites for use of the Visual PressSupport service

    • Android or iOS device
    • A fast Internet connection via WiFi or mobile data
    • In addition, use of a wired headset and prior installation of the Visual Support app are recommended

    Necessary settings at the media connections of the dryers can also be explained step by step (4)

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    news-1860 Fri, 04 Dec 2020 09:23:45 +0100 Koenig & Bauer decides to streamline the group structure http://iberica.koenig-bauer.com/en/news/detail/article/koenig-bauer-decides-to-streamline-the-group-structure/ In its meeting today, the Koenig & Bauer AG supervisory board approved the draft concept of the management board for the transformation of the corporate structure in the Banknote Solutions business unit designed with Treuhand KGs into a pure corporation with profit and loss transfer agreements unanimously. President and CEO Claus Bolza-Schünemann: “We have dealt intensively with this structural change and are convinced that this streamlining of the corporate structure will have a positive effect on our group. In addition to strengthening corporate governance and simplifying the management structure, we want to reduce administrative expenses with this reorganisation of the corporate structure. We remain committed to our proven broad product portfolio and will continue to further develop and consistently expand it through a large number of initiatives in accordance with market needs.” The agreed reorganisation of the corporate structure has, according to IFRS, no effect on Koenig & Bauer group’s earnings, finances and assets, but the measures significantly strengthen equity in Koenig & Bauer AG’s individual financial statements.

    As part of the Fit@All restructuring programme, the four business areas Sheetfed, Digital & Webfed, Banknote Solutions and Industrial were spun off as of 1 January 2015 in the legal form of an AG & Co. KG with Koenig & Bauer AG as the sole general partner. A corresponding management GmbH, whose shares Koenig & Bauer AG holds 100%, acts as limited partner. The reorganisation of the corporate structure in the Banknote Solutions business unit will take place as of 31 December 2020 and includes Koenig & Bauer Banknote Solutions AG & Co. KG and Koenig & Bauer Banknote Solutions (DE) AG & Co. KG. It takes place in each case through the transfer of the assets of the Treuhand KGs to the limited partners Koenig & Bauer Banknote Solutions GmbH and Koenig & Bauer Banknote Solutions (DE) GmbH. This reorganisation uncovers hidden reserves which, according to current estimates, are roughly in the order of magnitude of the annual loss expected in 2020 due to the corona pandemic, so that no taxes will be triggered. The balance sheet revaluation of the book values of the equity interests enables the capital strengthening of various subsidiaries and, according to current calculations, leads to a one-off income at Koenig & Bauer AG of over EUR100m with a corresponding increase in equity.

    The conclusion of the intended profit and loss transfer agreement between Koenig & Bauer AG and Koenig & Bauer Banknote Solutions GmbH still requires the approval of the Annual General Meeting in May 2021. A reorganisation of the Treuhand KGs in the other business areas will be further analysed in the next few years, taking the business development into account.

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    news-1850 Mon, 23 Nov 2020 09:29:21 +0100 Game-changing development – digital printing for flexible and extensible film http://iberica.koenig-bauer.com/en/news/detail/article/game-changing-development-digital-printing-for-flexible-and-extensible-film/
  • Cooperation on equal terms
  • Growing market for film printing using water-based inks
  • New market for the RotaJET
  • Additional colors, flexible materials, promote sustainability
  • Koenig & Bauer has concluded a cooperation agreement for the further development of the RotaJET. With a new press for digitally printed flexible and extensible film, Koenig & Bauer is strengthening its strategic focus on the growth market of flexible and extensible film and digital presses. The press is to be developed on the basis of the RotaJET and the first installations are expected to commence production of digitally printed flexible and extensible film in the coming year

    Exemplary picture of the RotaJET

    “Our RotaJET is already well established on the market when it comes to paper applications and decor printing. As the next step, we now want to venture further into digital printing on flexible and extensible films together with one of the top global players in this field,” says Koenig & Bauer board member Christoph Müller.

    The press will feature a maximum web width of 1,380 mm and will be able to print on both sides of films with a thickness between 0.12 and 0.3 mm. “Koenig & Bauer has built a reputation as a pioneer of high performance, industrial ecological inkjet printing. With our partner, the new press and its water-based inks, we will be in an even better position to promote sustainability, and plan to change the face of the market with digital print for flexible and extensible film aimed at providing improved color precision and additional printing options,” added Christoph Müller.

    Spot colors such as white or metallic colors can then be printed in an inkjet process.

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    news-1848 Thu, 19 Nov 2020 08:50:34 +0100 Koenig & Bauer Durst food safety inks achieve ECOLOGO Certification http://iberica.koenig-bauer.com/en/news/detail/article/koenig-bauer-durst-food-safety-inks-achieve-ecologo-certification/
  • UL’s ECOLOGO Certification follows rigorous testing and formulation assessments
  • Inks used in SPC Delta 130 FlexLine Automatic minimize environmental impact
  • Koenig & Bauer Durst demonstrates industry leadership and superior sustainable performance
  • Koenig & Bauer Durst has announced today that its food safety water-based printing inks have successfully achieved UL ECOLOGO® Certification, demonstrating third-party validation of the products’ sustainability performance.

    The Durst WT Food SP Ink and the Durst WT Food MP Ink product lines meet rigorous lifecycle-based environmental performance criteria as defined in UL’s stringent ECOLOGO Standard (2801 – 2012 Standard for Sustainability for Printing Inks). Black, cyan, light cyan, magenta, light magenta and yellow inks have all been assessed and include no hazardous components defined by the ECOLOGO Standard.

    UL ECOLOGO mark (1)

    The products achieved UL ECOLOGO Certification following the evaluation of multiple criteria throughout a product’s life including energy use, waste disposal, and toxic reductions, among other areas. Using proprietary water-based ink technology, the inks are designed with core technologies to provide automated, productive, food safe printing systems.

    The inks are used in Koenig & Bauer Durst’s Delta SPC Flexline Automatic 130 press. The WT Food SP Ink was designed for fast print processes on corrugated materials and is used for the single-pass print line. It can be used to realize high quality, odorless, abrasion-resistant, glossy and light-fast corrugated products that precisely meet requirements of the packaging industry. The WT Food MP Ink is used in multi-pass printing.

    UL works to advance global sustainability, environmental health, and safety by supporting the growth and development of environmentally preferable products, services and organizations.

    Robert Stabler, Managing Director, Koenig & Bauer Durst, said: “We have always been focused on offering safe and sustainable solutions for our customers, particularly as food safety, sustainability and packaging are constant topics of conversations for converters and brand owners. Our water-based inks ensure food safety compliance for primary packaging. ECOLOGO Certification provides third-party verification that our products are manufactured in a way that minimize environmental impact.”

    The Delta SPC FlexLine Automatic Press (2)

    Dr Stefan Kappaun, a member of Durst Group’s executive team who heads the ink business for all segments as Executive Vice President Inks & Fluids, said: “The assessment involved months of rigorous discussions and formulation assessments. We’re extremely proud to have earned the ECOLOGO Certificate for our Durst WT Food SP and Food MP ink product lines.”

    Alberto Uggetti, Vice President and General Manager of UL’s environment and sustainability division, said: “By earning ECOLOGO Certification, Koenig & Bauer Durst has shown its dedication to a more sustainable way of doing business. Its accomplishment demonstrates industry leadership.”

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    news-1845 Tue, 17 Nov 2020 10:36:20 +0100 Rondo-Pak Achieves Increased Productivity With Installation of New Koenig & Bauer-Iberica Optima 106 Die-cutter http://iberica.koenig-bauer.com/en/news/detail/article/rondo-pak-achieves-increased-productivity-with-installation-of-new-koenig-bauer-iberica-optima-106-die-cutter/
  • New die cutter in operation at the firm’s Puerto Rico facility since September
  • Strong partnership with the top 20 pharmaceutical companies and exceeding client expectations
  • Delivering outstanding value, products, and services with this new integral investment
  • Rondo-Pak headquartered in Camden, NJ with additional manufacturing in San Juan, Puerto Rico and part of the international Körber Pharma Group, is seeing increased productivity after the September installation of a new Koenig & Bauer-Iberica Optima 106 die cutter. For nearly three months, the Koenig & Bauer-Iberica Optima 106 has proven its ruggedness, efficiency, and high speed as an integral part of the firm’s production. 

    “The new Optima 106 die cutter has increased our productivity, which is especially important as we continue to grow,” says Bob Reilley, Rondo-Pak’s President and COO. “We have seen a significant increase in our die cutting output with excellent results.”

    The team at Rondo-Pak’s San Juan, Puerto Rico facility is seeing increased productivity after the September installation of its new Koenig & Bauer-Iberica Optima 106 die cutter

    Rondo-Pak has found that one of the most advantageous features of the Koenig & Bauer-Iberica Optima 106 flatbed diecutter is its grip edge removal system. This unique system features pneumatic clamps that fix the wooden templates for optimal and secure positioning and reduces makeready time. Effective removal of grip edge trim is achieved on each job so there are less downstream steps on each job, which saves time and related labor expenses.

    “Rondo-Pak is a unique print and packaging solutions provider focused on delivering
    innovation and value to the life science and consumer healthcare industries,” says Reilley. “We partner with the top 20 pharmaceutical companies and over 100 more companies in healthcare, medical devices and consumer goods. We invest in the latest print and finishing technology to ensure maximum efficiency and product quality. And our knowledge of customer processes makes us a partner for cost-efficient and GMP-compliant pharmaceutical packaging. Our quick turn times assure the timeliness of our customer’s product launches through our Supply On Demand solution. We use the latest and most sophisticated technology to ensure that our customers get the greatest value for their budget. The new Optima 106 is one of our most recent investment acquisitions as part of this goal.”

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    news-1839 Wed, 11 Nov 2020 07:20:00 +0100 Koenig & Bauer publishes its Q3 report 2020 http://iberica.koenig-bauer.com/en/news/detail/article/koenig-bauer-publishes-its-q3-report-2020/
  • Further improvement of operating earnings in a challenging environment
  • 9M order intake significantly better than the industry trend for printing presses
  • Revenue before special item due to new revenue recognition guideline also better than industry trend
  • Clearly positive cash flow in Q3 and significant improvement compared to the previous year
  • Decided Performance 2024 programme in implementation
  • As in many industries, the Covid-19 pandemic, which is worsening again in most countries over the past few weeks, has left clear traces on the course of business in the Koenig & Bauer group. In Q3, order intake was down 13.8% at €232.6m and revenue was down 32.2% at €198.1m year-on-year. In addition to the effects of the pandemic, this revenue decline was materially due to the new internal revenue recognition guideline of the Koenig & Bauer AG, which caused a once-only revenue shift of €52.5m to 2021 in the Sheetfed segment. In the first three quarters of 2020, new orders of €712.8m were below the previous year’s figure of €843m by 15.4%, although this was better than the general sector figures for printing presses published by industry association VDMA, which dropped by 26.8% in the same period. Cumulative revenue came to €602.6m in the first nine months of 2020 (2019: €798.2m)..

    At the end of September, management and supervisory board decided the Performance 2024 programme, which had been enhanced and expanded over the last few months, to strengthen Koenig & Bauer’s position as leading supplier in packaging, industrial, security printing and postpress as well as to increase the group’s operating profitability. The one-off costs required for the comprehensive package of measures were expensed in Q3 by recognising a provision of €57.6m. In addition, the new revenue recognition guideline mentioned above had a negative effect of €6.3m on EBIT. A positive effect arose from the one-off income of €4.8m from the sale of a real estate asset in Frankenthal. On balance, an EBIT of –€61.3m is reported for Q3. However, EBIT adjusted for one-offs improved substantially from –€34.9m in Q1 and –€10.2m in Q2 to –€2.2m in Q3. Despite the lower effects from short-time working compared with Q2, the adjusted EBIT almost reached the break-even threshold in Q3. In cumulative terms, EBIT for the first three quarters of 2020 came to –€102.2m (2019: €5.2m), group net earnings to –€109m (2019: €1m) and earnings per share to –€6.62 (2019: €0.05).

    At €20.8m and €26.9m, respectively, cash flows from operating activities and free cash flow were in distinctly positive territory in Q3, improving significantly over the same quarter of the previous year (–€27.7m and –€39m, respectively). Despite a higher increase in inventories, this positive performance was underpinned by lower receivables and other assets as well as higher customer prepayments.

    In addition to new developments for security printing, investments in direct corrugated board and digital printing as well as the joint venture with the Durst Group are being advanced as part of the Performance 2024 programme

    Segment performance

    The Sheetfed segment achieved a robust order intake of €128.6m in Q3 (Q3 2019: €132m). Despite the substantial gains with large-format sheetfed offset presses and folder gluers, order intake in the first three quarters declined by 9.9% over the previous year’s figure of €462.6m to €416.6m particularly as a result of lower orders for medium- and half-format presses. The revenue shift of €52.5m to 2021 as a result of the new revenue recognition guideline was the main reason for the decline in Q3 revenue from €151.1m to €81.6m. In cumulative terms, revenue for the first nine months came to €287.1m, falling short of the previous year (€410m) by 30%. With the book-to-bill ratio coming to 1.45, order backlog rose from €242.5m to €312.9m. The revenue effect and the provisions recognised for the Performance 2024 programme resulted in EBIT of –€31.7m in Q3 (2019: –€1.5m). At –€49.1m in the first three quarters, it was significantly lower than the previous year’s figure of –€2.8m.

    Driven by sales successes with RotaJET presses and HP machines, the Digital & Web segment achieved encouraging order intake of €34.1m in Q3 (Q3 2019: €18.1m). Order intake in the first three quarters came to €90.8m, down from €108m in the previous year, due to lower orders in the web offset press business and for flexible packaging printing. At €36m in Q3 and €87.6m in the first nine months, revenue was below the previous year’s figures of €40.9m and €105.4m, respectively, for pandemic-related reasons. The order backlog contracted from €88.4m to €69.3m. EBIT, which was primarily burdened by the provision for the Performance 2024 programme, came to –€9.2m in Q3 and –€21.3m in the first three quarters (previous year: –€4.3m and –€15.1m, respectively).

    Order intake in the Special segment of €82.8m in Q3 and €233.5m in the first nine months was below the previous year’s figures of €131.4m and €306.7m, respectively. The decline in order intake reflects lower orders for security printing, marking and coding as well as glass decorating. On the other hand, there was an order increase in metal decorating. Revenue of €87.3m was achieved in Q3 (2019: €107.8m). The revenue generated in the first nine months decreased to €247.4m (2019: €312.7m). The order backlog reached €273.7m at the end of September after €339.5m in the previous year. EBIT came to –€25.6m in Q3 and –€35.9m in the first three quarters (previous year: €6.6m and €12.9m, respectively) chiefly as a result of the provisions recognised for the Performance 2024 programme.

    Outlook

    President and CEO Claus Bolza-Schünemann: “In addition to boosting efficiency and scaling the group to the moderate growth expected in the next few years to group revenue of around €1.3bn after the completion of the four-year programme, it aims to strengthen our competitiveness in the long term. By continuing and accelerating all innovation processes, product and process developments, annual cost savings of over €100m should increasingly be achieved until 2024. After implementing the approved cost and structural adjustments, we are still aiming for a return on sales (based on EBIT) of at least 7% in the medium-term. In Q4 2020, the worsening international course of the Covid-19 pandemic is expected to have a negative impact on business performance. For the financial year 2020, we expect group revenue to reach a figure of between €900m and €950m and a negative EBIT before special items in the mid double-digit million range.“

    Figures at a glance

    The financial statements can be downloaded as a PDF file from here.

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