Group sales totalled €691m, 29.2 per cent above the prior-year figure of €534.9m. The €1062.9m order backlog was also higher and safeguards production until well into next year.
But it hasn’t been smooth sailing for KBA, who in the first quarter recorded a €4.2m operating loss. However, this was turned into a €1.2m profit at the end of the second. A financial loss of €5.7m translated into a pre-tax loss (EBT) of €4.5m, substantially lower than a year earlier (-€18.5m). The net loss including deferred taxes was €5m, which corresponds to a proportionate net loss per share of 31 cents.
According to KBA president and CEO Albrecht Bolza-Schünemann the loss was primarily due to currency losses, higher prices for commodities and energy, below-target sales and the additional cost of getting a new generation of sheetfed presses up and running.