Koenig & Bauer AG: Koenig & Bauer initiating Group realignment

Würzburg (pta034/28.11.2024/18:25) - Würzburg, 28 November 2024
Koenig & Bauer AG ("Koenig & Bauer", WKN: 719350 / ISIN: DE0007193500), a leading global technology provider of special printing applications with a particular focus on the packaging sector, will be repositioning itself in the course of 2025 by adopting a new segment structure.

This realignment marks a further development of the segment structure introduced ten years ago, which is now being oriented even more closely to current and future customer needs, resulting in lean structures and thus a reduction in the number of segments from three to two: Paper & Packaging Sheetfed Systems (P&P) and Special & New Technologies (S&T).

In the future, all the previous activities of the Sheetfed segment will be consolidated within the new Paper & Packaging Sheetfed Systems segment. As well as this, the corrugated cardboard activities for the Chroma series bundled under the Celmacch joint venture, which were previously assigned to the Digital & Webfed segment, will be allocated to this segment due to the close technological and customer overlap between folding box and corrugated cardboard producers. In addition to commercial printing solutions, this segment will be focusing on end-to-end solutions for the high-growth folding box and corrugated cardboard box markets, addressing all aspects such as the preprint stage, printing with an integrated digital workflow and postprint processing.

Looking forward, the Special & New Technologies segment will consolidate the previous activities of the Special segment (special presses for banknote and security printing, systems for industrial marking and coding and special systems for metal and glass/hollow body direct printing), as well as the remaining activities of the former Digital & Webfed segment. This includes web-based printing processes such as the "RotaJET" web digital printing presses and the systems developed in partnership with HP for pre-printing corrugated-board liners, CI flexo printing presses and web offset presses. The future S&T segment will also hold the new autonomous Vision & Protection (inspection systems and protection technologies) and Kyana (formerly Digital Unit) business units, as well as the joint venture established between Koenig & Bauer and the Volkswagen subsidiary PowerCo for the development of dry coating for battery cell production. The former Digital & Webfed segment will be reported separately for a certain period in the interests of greater transparency.

The new segmentation and different focus will result in changes to central responsibilities for operations as well as cross-sectional functions. Some of these will be re-assigned to the two new segments to a greater extent to address the individual requirements of the various markets more effectively. Consequently, the previous role of a central Group COO will no longer be required. For this reason, the company and Michael Ulverich have mutually agreed that he will leave Koenig & Bauer and step down from the Management Board effective 30 November 2024.

At the same time, Mr Christian Steinmaßl will be joining Group management on 1 December 2024, taking on a key role in the new Special & New Technologies segment. Steinmaßl will initially assume responsibility for the new autonomous Vision & Protection (inspection systems and protection technologies) and Kyana (formerly Digital Unit) business units and report to the Executive Board. He will also be responsible for production and other operational shared services within the Group.

Overall, the newly defined segmentation and the upcoming transition to a new generation on the Executive Board mark the first steps in the realignment of Koenig & Bauer. Looking forward, this will make it possible to reduce the number of members of the Executive Board to two, namely one Chief Executive Officer and one Chief Financial Officer. Details on the further realignment steps, which also involve the transition to a new generation, will be duly published upon being finalised.

(Ende)