Koenig & Bauer (SKB) Q4 2025 earnings summary

Executive summary

• Achieved full-year 2025 guidance with strong Q4, positive free cash flow, and improved operating profitability despite a weak macroeconomic environment and trade policy uncertainties.

• Launched the IMPACT strategic framework, focusing on six pillars to enhance resilience and future growth.

• Celebrated the 40th anniversary of stock market listing and held a capital market day.

• Order intake and backlog remain high, providing a solid foundation for 2026.

Financial highlights

• Revenue increased by 2.2% year-over-year to €1,302.4m, with growth in packaging and Special & New Technology segments.

• Group EBIT improved by €66.4m to €31.3m, and operating EBIT margin rose to 2.8%.

• Gross profit rose 15.5% to €340.6m, with gross margin up to 26.2%.

• Free cash flow turned positive at €7.2m, supported by strong Q4 inflows.

• Asia Pacific revenue grew by over 30% year-over-year.

Outlook and guidance

• 2026 guidance shifts to operating EBITDA, targeting approximately €80m, with stable group revenue expected at €1,302.4m.

• Paper & Packaging segment to remain stable with slightly lower profitability; Special & New Technology segment expected to grow in revenue and profitability.

• Q1 2026 order intake projected to exceed Q1 2025.