Koenig & Bauer has reported that it met its financial targets for 2025 and increased profitability, according to preliminary, unaudited figures released by the company.
The manufacturer said the results came despite what it described as a weak macroeconomic environment and trade policy uncertainty.
Group revenue rose by 2.2% to €1.30 billion (£1.13 billion) in 2025, up from €1.27 billion (£1.10 billion) the previous year. The company said growth was driven by both of its main business segments. Revenue in Special & New Technologies increased by just under 7% to €596 million (£519 million), while Paper & Packaging Sheetfed Systems rose by approximately 1% to €741.5 million (£645 million).
Operating earnings before interest and taxes (EBIT) increased to €36.6 million (£31.8 million) from €15.3 million (£13.3 million) in 2024. The company reported that total EBIT, including extraordinary items, rose compared to a loss it experienced a year earlier. Extraordinary costs linked to the company’s Spotlight efficiency programme declined to €5.3 million from €50.4 million (£4.6 million – £43.8 million).
The company said a cash inflow in the fourth quarter contributed to positive free cash flow for the full year, reversing the negative free cash flow during the first nine months.
Chief executive Stephen Kimmich said the results reflected efficiency measures and operational improvements. “The 2025 results demonstrate the effectiveness of our measures to increase efficiency,” he said, adding that the company met its forecast and generated positive free cash flow despite “massive macroeconomic headwinds.”
Order intake totalled €1.23 billion (£1.07 billion), down approximately 12% from the previous year, which the company attributed partly to unusually strong orders in 2024, including a major US contract. The order backlog stood at €970.6 million (£845 million) at the end of 2025, which the company said remains at a historically high level.
For 2026, Koenig & Bauer expects revenue to remain roughly in line with 2025 levels and forecasts operating EBITDA of around €80 million (£69.6 million), assuming stable economic conditions and clearer trade policies. Chief financial officer Alexander Blum said the shift to EBITDA guidance reflects a greater focus on operating cash generation and upcoming IFRS reporting changes.
