Koenig & Bauer Group Reports Earnings Results for the First Half-Year of 2016; Provides Earnings Guidance for the Year 2016
Koenig & Bauer Group reported earnings results for the first half-year of 2016. For the quarter, the company revenue increased over the same period by 29.7% to 553.9 million and order backlog rose 7% to 639.8 million. EBIT improved to 20.7 million compared to the prior- year loss of 8.3 million. A slightly negative interest result of 2.9 million led to a group pre-tax profit (EBT) of 17.8 million. After deducting income tax expenses, group net profit came to 17.2 million compared to 9.3 million in 2015. This corresponds to earnings per share of 1.05 compared to loss per share of 0.55 a year ago. The negative free cash flow stood at 14.4 million, compared to 25.2 million twelve months ago.
For the year, the management board is targeting a rise in group revenue above its initial planning to between 1.1 billion and 1.2 billion as well as an increase in the EBT margin to around 4%.