Koenig & Bauer Ag · XETR:SKB
Koenig & Bauer — Q1 2012 Earnings Presentation
33 slides from Koenig & Bauer's earnings presentation, May 15, 2012
Slide 1: KBA financial press conference
People & Print KBA financial press conference 15 May 2012 at Drupa in Düsseldorf
Slide 2: Programme
Programme • Opening address Claus Bolza-Schünemann, President & CEO • Group performance in the first quarter of 2012 Dr Axel Kaufmann, CFO • KBA at Drupa: innovating for change Klaus Schmidt, Director Marketing and Communications • Initial verdict on Drupa and outlook for 2012 Claus Bolza-Schünemann
Slide 3: Group performance in the first quarter of 2012
People & Print Group performance in the first quarter of 2012 Dr Axel Kaufmann, CFO
Slide 4: Key data for first quarter 2012
Key data for first quarter 2012 €m Q1 Q1 2011 2012 Change Order intake 432.1 236.6 -45.2% Sales 253.3 263.5 +4% Book-to-bill ratio 1.71 0.9 -47.4% EBT -3.9 0.2 +€4.1m Free cash flow 36.3 -30.0 -€66.3m © KBA Group figures as per IFRS 4
Slide 5: First-quarter figures for the KBA Group
First-quarter figures for the KBA Group • 8 % more orders for sheetfed offset presses; order intake for web and special presses below the prior-year record figure that had been boosted by some major contracts • Sales up 4 % on previous year, order backlog 29 % higher Order intake Sales Order backlog
Slide 6: Improved earnings
Improved earnings • Despite weak first-quarter sales, high outlay on R&D and Drupa • Improvement largely due to shipment of more profitable products and cost savings Q1 Q1 2011 2012 Gross profit margin 23.8% 27.9% Operating profit/loss -€1.8m €2.0m Earnings before taxes -€3.9m €0.2m Net loss -€5.8m
Slide 7: Shift in sales growth from mature markets
Shift in sales growth from mature markets Geographical breakdown Q1 2011 Q1 2012 Africa/ Germany Latin America Germany 10.8% 14.5% 13.5% Africa/ Latin America 25.4% Rest of Asia/Pacific Europe 24.3% 25.6% Rest of Europe 40.1% Asia/Pacific 30% North North America America 8.2% 7.6% © KBA Group figures
Slide 8: Group maintains solid balance sheet and financial profile
Group maintains solid balance sheet and financial profile 31.12.2011 31.03.2012 Change Above-average equity ratio 38.2% 38.6% +1% Few bank debts €35.9m €36.1m +0.6% Liquid assets at high level €145.6m €119.0m -18.3% Comfortable net liquidity +€109.7m +€82.9m -24.4% Free cash flow in Q1 2012 lower pr
Slide 9: Share performance
Share performance in % 130 125 120 115 110 105 100 1 January 2012 31 March 2012 @ Koenig &BauerAG M® DAX Mi SDAX ©KBA
Slide 10: KBA financial calendar 2012
KBA financial calendar 2012 • One-to-one talks with investors Q2 2012 • 14 June: annual general meeting Vogel Convention Center, Würzburg • 14 August: 2nd quarter report Q3 2012 • 25 or 26 September: participation in 10th German Investment Conference, Munich • 14 November: 3rd quarter report Q4 2012
Slide 11: KBA at Drupa: innovating for change
People & Print KBA at Drupa: innovating for change Klaus Schmidt, Director Marketing and Communication
Slide 12: KBA at Drupa 2012
KBA at Drupa 2012 Sheetfed offset presses 1 KBA Rapida 145-6+C ED3 SIS SPC NEW (B0, commercial, packaging, etc) 2 KBA Rapida 106-4+CDD+4+C P7 ED2 SIS SPC NEW (B1, commercial, magazines, perfecting + coating) 3 KBA Rapida 105-M+5+C ED2 CX NEW (B1, commercial, packaging with inkjet imprinting) 4 KBA R
Slide 13: Drupa exhibits – attributes
Drupa exhibits – attributes Genius 52UV (KBA-MePrint) The ingenious choice for fresh ideas in the B3 format class Rapida 76: Automation redefined for the B2 format class Rapida 105: Rapida 106 inside – designed for performance Rapida 106: World makeready champion in B1 format with new features Rapid
Slide 14: Rapida 145: the star of Drupa 2012 in large format
Rapida 145: the star of Drupa 2012 in large format New KBA Rapida 145-6+C-ED3-SPC: packaging printing with automated pile logistics • The fastest large-format press with the shortest makeready times on the market • Maximum rated speed of 17,000sph straight and 15,000sph in perfecting mode USP • Auto
Slide 15: Rapida 105: digital meets offset
Rapida 105: digital meets offset KBA Rapida 105-5+M+C New • New series based on the Rapida 106 platform • Maximum production speed 17,000sph (with high-speed package),16,000sph standard • Also available as a long perfector for four-backing-four or five-backing-five (first order place by French print
Slide 16: Rapida 106: world's fastest medium-format press
Rapida 106: world’s fastest medium-format press KBA Rapida 106-4+C+D+D+4+C P7 ED2 SIS SPC • Medium-format press with the maximum level of automation to support simultaneous makeready processes • At Drupa flying job changes and pre- and post-perfect coating in four-backing-four production USP • Coate
Slide 17: Rapida 76: Rapida technology in B2 format
Rapida 76: Rapida 106 technology in B2 format New KBA Rapida 76-5+C SIS SPC New • Transfer of cutting-edge KBA technology from the Rapida 106 to the new B2 Rapida 76 USP • Following on from medium and large formats KBA offers a makeready champion for diminishing runs in B2 • Options: DriveTronic SIS
Slide 18: Genius 52UV+C from KBA-MePrint
Genius 52UV+C from KBA-MePrint Ingeniously simple printing in small format Established technology (waterless, keyless) for sensitive substrates • Compact, environmentally friendly and economical for short runs thanks to minimal waste • Innovations: blade chamber for ink storage, rainbow printing, en
Slide 19: Green Printing in alliance with Toray
Green Printing in alliance with Toray Rapida 106-5+C-ED2 UV and Genius 52UV • Waterless UV offset on costly, challenging substrates (films, aluminium-coated paper, etc) • Climate-friendly and economical production by eliminating fount solution and minimising waste • Energy-saving on-press HR-UV curi
Slide 20: KBA RotaJET: high-volume inkjet web press
KBA RotaJET: high-volume inkjet web press Digital inkjet made by KBA in Germany New High-volume inkjet printing with water-soluble inks • 4/4 production for personalisation or short runs • Up to 3,000 colour A4 pages per minute; 85 million A4 pages per month • Application of engineering and offset k
Slide 21: Varius 80 from KBA-MePrint
Varius 80 from KBA-MePrint New Entry into high-growth flexible packaging market with variable-format web offset press • Waterless UV offset press with keyless inking units for film, paper and lightweight carton • Maximum web width 800mm, maximum image width 760mm, cylinder circumference 20 to 34in •
Slide 22: New commercial and newspaper web presses
New commercial and newspaper web presses KBA C16 • 16pp commercial press with a rated output of 55,000 or 65,000iph • Engineered for fast job changes and diminishing print runs • Printing unit with automatic plate change in less than 60 seconds • Automatic roller locks and 2 dedicated drives per pri
Slide 23: Post-press thermal inkjet system from KBA-Metronic
Post-press thermal inkjet system from KBA-Metronic udaFORMAXX c with betaJET New • Separation and feeding system with freely programmable betaJET thermal inkjet unit • Folding cartons, blanks etc are transported from pile to pile at up to 90mpm and addressed or coded with the betaJET unit • Stand-al
Slide 24: Technology Lounge, other activities and partners
Technology Lounge, other activities and partners KBA Technology Lounge • UV LED curing module (KBA LEDReady-UV ); press preparation for later deployment • HR UV curing module from KBA for energy saving of 20-30% • Energy management: heat recovery for printing plants (installed in customer showroom)
Slide 25: Initial verdict on Drupa and outlook for 2012
People & Print Initial verdict on Drupa and outlook for 2012 Claus Bolza-Schünemann, President and CEO
Slide 26: Attendance high on the KBA stand
Attendance high on the KBA stand © KBA 26
Slide 27: Interim review of Group performance at Drupa 2012
Interim review of Group performance at Drupa 2012 • Attendance some 20% down on 2008, but high-calibre decision-makers • Attendance high on KBA stand • KBA respected as an innovator • More orders than expected in run-up • Primarily sheetfed offset presses • Focus on medium and large format • Small-f
Slide 28: New business line: high-volume digital print
New business line: high-volume digital print • Development and commissioning of an inkjet web press in less than 12 months in alliance with RR Donnelley • Only high-volume press built in Germany • Multiple projects being negotiated for new KBA RotaJET 76 • At Drupa KBA demonstrated a merging of offs
Slide 29: Further diversification in packaging applications
Further diversification in packaging applications • The packaging sector has long been a growth market for KBA • Entry into the high-growth flexible packaging sector with the Varius 80 variable-format web offset press built by KBA-MePrint • Expansion of KBA-Metronic’s product portfolio for packaging
Slide 30: Stepping up activities in high-growth Chinese market
Stepping up activities in high-growth Chinese market • Good position in premium packaging and book sectors with high-tech presses from Europe (Rapida 105/106 and large format) • Growing presence in high-performance commercial sector with Rapida 105 and Rapida 75 • One Chinese commercial printer plac
Slide 31: Outlook for 2012
Outlook for 2012 • We anticipate sales of more than €1.2bn and an order intake that is bigger than sales (book-to-bill ratio >1) • Notwithstanding pricing pressures and restructuring expenses we also anticipate an increase in pre-tax profit • Our short- and medium-term earnings projections are based
Slide 32: KBA: 200 years of innovation in press engineering
KBA: 200 years of innovation in press engineering • KBA was the only major press manufacturer to post a profit, albeit a small one, in 2009, 2010 and 2011 • KBA weathered the financial crisis with no external aid • KBA is liquid and has no net debts • We are expanding our sales and service network w
Slide 33: Koenig & Bauer AG www.kba.com
People & Print Koenig & Bauer AG www.kba.com