Koenig & Bauer has published its report for the first half of 2025, confirming strong business performance during the period.
Key to the company’s performance are targeted initiatives grouped under the strategic banner “Focus in Action”. According to Koenig & Bauer, these have already generated a significant improvement in earnings and are laying the foundations for further profitable growth.
The release of the report coincides with the 40th anniversary of the company’s stock exchange listing, which is being recognised at a capital markets day in Frankfurt/Main.
“The figures for the first half of the year are clear proof that we are headed in the right direction,” said Dr Stephen Kimmich, CEO of Koenig & Bauer AG.
“With specific initiatives such as “AI Empower 25” and the pioneering spirit being imbued through forward-looking technologies such as battery coating, we are demonstrating that we are not merely managing but also actively shaping the transformation process.”
Details of strong business performance
Group revenue climbed by 3.5 per cent to €550.4m in the first half of the year, driven in particular by the second quarter, which saw revenue grow by 7 per cent to €298.2m.
At €1,096.3m, the order backlog was up 7.4 per cent on the previous year, marking the highest figure in the company’s recent history.
Order intake reached €606.9m in the same period; this is a solid figure given the muted demand in the wake of the uncertainties surrounding US tariffs and the large order intake that had been registered in connection with drupa in the previous year.
The positive trend is particularly evident in profitability, with operating EBIT improving by 69.1 per cent year-on-year to €-9.6m. This performance benefited from the planned savings under the “Spotlight” programme. On balance, free cash flow amounted to €-83.7m (previous year: €-27.7m), mainly due to the expected increase in net working capital.
Dr Alexander Blum, chief financial officer of Koenig & Bauer AG said, “In view of the challenges arising from the new trade policies in the United States, our focus on strengthening profitability is more important than ever. The high order backlog provides us with a solid basis for this. We are systematically leveraging the measures under our “Spotlight” programme to gradually and sustainably improve the Group’s profitability through enhanced efficiency and cost management”.
Strategy in action: forward-looking initiatives and consistent focus
According to the company, the business performance is the result of a clear strategic orientation. The path into the “age of performance” is based on a strategic framework with four clear thrusts: go-to-market, competitiveness, resilience and intelligence, all serving the “Customer First” guiding principle. This framework is already being implemented through concrete projects:
Intelligence & customer first: via the “AI Empower 25” programme and a partnership with Google, Koenig & Bauer is boosting internal efficiency. Externally, the new Koenig & Bauer Kyana unit is developing AI-supported customer solutions.
Resilience & go-to-market focus: the successful development partnership with Volkswagen subsidiary PowerCo SE for sustainable battery cell production demonstrates the ability to transfer core competencies to new markets of the future.
Consistent focus: a review of the future alignment of Koenig & Bauer Coding GmbH has been initiated as a logical step in the strategy. This review is considering all options, including a joint venture, a partnership or a possible sale.
40 years on the capital market and outlook
Today marks not only the publication of the figures for the first half of the year but also the 40th anniversary of the initial listing of the Koenig & Bauer share on the Frankfurt Stock Exchange. This move was not a given, but a deliberate, strategic decision to share the company’s strengths to gain new momentum for growth and technological leadership. It aligned the company to the rhythm and the “heartbeat of the stock market”.
Koenig & Bauer confirms its full-year guidance for 2025. The executive board anticipates a slight increase in revenue to €1.3bn, accompanied by higher operating EBIT in a corridor of between €35m and €50m. The historically high order backlog and additional savings from the “Spotlight” focus programme are providing the underpinnings for this forecast. At the same time, the company is monitoring the trade policy situation.
The new tariff cap of 15 per cent on the majority of EU exports, which applies from 1 August 2025, together with the current EUR/USD exchange rate, will make Koenig & Bauer’s presses and equipment more expensive in the United States.
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