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, with strong momentum and turnaround in the Special & New Technologies (S&T) segment.

• Group revenue increased 3.2% year-over-year to €260.2m, with a robust book-to-bill ratio of 1.14, indicating operational growth.

• Launched the "IMPACT" strategic framework to drive transformation, competitiveness, and long-term stability.

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

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

Financial highlights

• Order intake: €297.6m (+21.4% YoY); order backlog: €1,008.0m, providing planning certainty.

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

• Operating EBITDA: €-2.9m (margin -1.1%); net group loss: €-27.6m (EPS: €-1.67).

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

• Export ratio increased to 88.1%, with North America revenue share rising to 27.0%.

Outlook and guidance

• 2026 revenue expected at ~€1.3bn, with operating EBITDA guidance of ~€80m, assuming stable macroeconomic and geopolitical conditions.

• S&T segment expected to contribute significantly more to revenue and earnings, while P&P segment contribution to earnings is expected to be slightly reduced.

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

• Management targets quarter-on-quarter improvement and stabilization.

• Guidance now focused on operating EBITDA, replacing operating EBIT as the key performance indicator.