We fell less than other Germans, KBA claims

KBA says its sales of web presses in the last six months dropped by almost a quarter, but reckons it is doing better than other German manufacturers. According to a company statement, the group order intake for the first six months of 2009 came to 489.1million Euros, 31 per cent behind 2008’s DRUPA figure of 708.8 million, but a better performance than the German printing press sector, which posted a drop of 47 per cent. KBA says its cost cutting measures are gaining traction, it has positive cash flow, and no net debt. While its export level remains high at 83.9 per cent, the lack of big press installations in the Asia Pacific has seen the proportion of sales from the region drop to under nine per cent. US performance is boosted by fulfilment of the company’s large New york order. KBA president and chief executive Helge Hansen says that the company had been obliged to adjust its sales objectives for web and non-security special presses in the second quarter, “but if the sheetfed division maintains the upward trajectory of the past four months we believe there is still a fair chance of compensating for shortfalls in other areas and thus of approaching our sales target of 1.2 billion Euros.” Following the uptick of the second quarter Hansen is confident that, if sales and personnel costs maintain their current trends, KBA will improve its performance in the third quarter and post a profit in the fourth.