Pinpoint accuracy in 2025 and a strong start to 2026: Koenig & Bauer achieves annual targets, increases order intake in the first quarter and enters a new era with "IMPACT"

In the 2025 financial year, Koenig & Bauer AG increased revenue and operating profitability and achieved its set targets for the year despite trade policy uncertainties, geopolitical crises and an overall volatile market environment. The year under review was characterised by the consistent implementation of the Group focus and the strategic realignment driven by the strategic framework "IMPACT" adopted at the end of December.

„We are currently experiencing a global industrial and political turning point. The latest developments in the Middle East since the end of February are a clear reminder that volatility has long since become the ‘new normal’,“ explains Chief Executive Officer Dr Stephen Kimmich. „Stability is no longer a static condition that can be relied on. Rather, high organisational responsiveness is essential. We are proving in this phase how stably Koenig & Bauer is positioned: We address the situation with a solid order backlog of €970.6m, and the experience in flexibly adapting processes to the respective situation. As the new strategic framework, ‘IMPACT’ defines our common direction to actively shape the future of the printing industry and secure operational resilience for the next decade.“

The preliminary business figures have been confirmed: Koenig & Bauer achieved Group revenue of €1,302.4m (previous year: €1,274.4m). Operating profitability improved noticeably: Operating EBIT increased to €36.6m (previous year: €15.3m), which corresponds to an operating EBIT margin of 2.8%. A major factor in this was the significant reduction in extraordinary items to €5.3m due to the extensive completion of the "Spotlight" focus programme. A strategic focus was the improvement of cash generation: In the final quarter, Koenig & Bauer achieved a strong cash inflow of €69.1m, resulting in a positive free cash flow of €7.2m for the year as a whole. Against the backdrop of the persistently challenging market environment, the Executive Board and the Supervisory Board will be proposing that a dividend be omitted for the 2025 financial year.

The "IMPACT" framework adopted at the end of 2025 replaces the previous strategy and aims at the further development from a classic machine manufacturer into an integrated technology provider. Visually and in terms of content, this new beginning is embodied by a sphere. Koenig & Bauer is not a static but a dynamic company, in which movement is the binding principle: it is found in the cross-section of the precisely rotating printing cylinders just as it is in billions of flying ink droplets in digital printing. A sphere is never static. It embodies the potential to roll, to absorb forces, and to carry the effect further. Real "IMPACT" only arises through acceleration, contact, and compression. This is exactly how Koenig & Bauer translates this principle into its strategy: Every decision sets something in motion, every movement follows a clear direction, and every direction generates measurable impact for customers and shareholders.

The eponymous acronym "IMPACT" stands for the six central fields of action, which are designed as an integral system to sustainably strengthen competitiveness:

• Intelligence: We are establishing artificial intelligence in all business areas – from the workplace to the machine in software and automation.
• Go-to-Market: We are focusing on scaling our existing portfolio and systematically opening up growth markets such as Asia, LATAM, India, MEA and China with customised solutions.
• People: We are investing in our worldwide teams, promoting further training and strengthening our local organisations as the face to the customer.
• Adaptability: We are reducing dependencies and increasing our adaptability to volatile global markets, including through the expansion of recurring revenues and making our structures more flexible.
• Competitiveness: Through leaner processes and optimised manufacturing costs, we are securing our competitiveness – we will also win in highly competitive mid-tech markets.
• Technology: Technological leadership remains our DNA. We impress through innovation in workflow and software solutions, in digital printing, in automation, and with the highest productivity and reliability.

This strategy is driven by the "I ACT" attitude, which translates these strategic thrusts into concrete entrepreneurial action. Based on these fields of action, Koenig & Bauer has set itself a clear strategic target vision up to 2030 and beyond: The company sees a strategic revenue potential of €1.5bn with an operating EBITDA margin of at least 8% (excluding special effects). To support this goal, the Group footprint will be further optimised, which, in addition to the streamlined structure of two segments, also includes the planned closure of the Albert-Frankenthal GmbH operations.

Koenig & Bauer expects a continuation of operational stability for the 2026 financial year. At the beginning of the year 2026, the guidance was shifted from operating EBIT to operating EBITDA.

"We achieved a further successful increase in profitability in 2025," emphasises Dr Alexander Blum, CFO of Koenig & Bauer. "At the same time, the positive start to the year underlines our high level of robustness: A solid order backlog paired with good order intake in the first quarter of 2026, which is above the previous year's level, secures our target achievement for the current financial year."

Assuming that global economic developments in the relevant markets remain stable and that prompt clarity on US import tariffs is reached, the Executive Board forecasts Group revenue at the previous year's level as well as an operating EBITDA of approximately €80m for 2026, consistent with the previous year. The forecast is supported by stable revenue and a slightly reduced operating EBITDA in the P&P segment. For the S&T segment, a significantly higher contribution to revenue and earnings is expected, with profitability supported by progressive scaling in new business areas and stable capacity utilisation in security printing. The forecast is subject to the proviso that there is no further significant clouding of the global investment climate due to persistent geopolitical tensions.

Figures at a glance

The Annual Report 2025 is available as a PDF download here.