Koenig & Bauer (SKB) Q1 2026 earnings summary

Executive summary

• Achieved highest Q1 order intake in two years, up 21.4% year-over-year to €297.6m, driven by broad-based business and strong S&T segment turnaround.

• Launched the new strategic framework "IMPACT" to align initiatives and secure long-term competitiveness.

• Confirmed full-year 2026 targets: group revenue of ~€1.3bn and operating EBITDA of ~€80m.

• Operating EBITDA was negative at €-2.9m, impacted by €6.6m in extraordinary items from the closure of Albert-Frankenthal GmbH.

• Free cash flow declined to €-37.8m, mainly due to higher net working capital.

Financial highlights

• Order intake: €297.6m (+21.4% YoY); order backlog: €1,008.0m, providing stability in a volatile market.

• Revenue: €260.2m (+3.2% YoY); gross profit: €65.8m (gross margin 25.3%).

• Operating EBITDA margin: -1.1% (prior year: -0.2%), reflecting segment divergence.

• Net loss widened to €-27.6m (EPS €-1.67), impacted by extraordinary items.

• Export ratio increased to 88.1%, with North America revenue share rising and German market under pressure.

Outlook and guidance

• Maintains 2026 guidance: group revenue of ~€1.3bn and operating EBITDA of ~€80m, with S&T segment expected to contribute more to earnings.

• Order backlog of €1,008.0m provides planning certainty for coming quarters.

• Management targets ongoing quarter-on-quarter improvement and stabilization despite geopolitical and supply chain headwinds.