KBA, AVT Issue Q3 Figures

Published: December 01, 2005, By pffc-online.com

PRESS RELEASE

WÜRZBURG, GERMANY—Third quarter figures for Koening & Bauer AG (KBA) showed a 25.9% increase in group order intake to €1,309.9 million (€944.1 million in 2004). Group sales totaled €1,107.3 million, 17.2% above the prior-year figure of €944.5 million, and the order backlog was 15% higher, at €1,095.6 million. As a result KBA, has moved back into the black for the first time this year, with a pre-tax profit (EBT) of €10.1 million. Its operating profit of €17.3 million is a big improvement on the figure of €1.2 million for the first six months. Net profit was €5.2 million, equivalent to net earnings per share of 32 cents.

Higher prices for raw materials and energy were more than balanced by a larger volume of shipments, healthier profit margins on goods shipped, and the cost savings achieved by restructuring web press production plants and negotiating more flexible working hours. Inventories swelled in preparation for a substantial increase in turnover in the fourth quarter. Cash flows from operating activities also swelled, to €76.5 million (2004: €10.3 million). This was mainly due to higher earnings, a smaller volume of accounts receivable and higher advance payments. The free cash flow improved to €58.2 million (2004: €45.9 million). Funds rose by €12.1 million to €58.2 million.

The consolidation of two subsidiaries, Bauer+Kunzi (Germany) and KBA-Grafitec (Czech Republic), increased the group payroll to 7,866 at the end of the third quarter, 506 more than at the same time the previous year (7,360). Excluding these additions the total staff count rose by 22. While the number of employees at KBA’s web press facilities in Germany fell by 132, its sheetfed facility took on an extra 122 to support organic growth.

See kba-print.ed.

HOD-HASHARON, ISRAEL—In its 15th consecutive quarter of growth, AVT reports a net profit of $1.1 million on revenues of $6.3 million. This represents a 17% increase in revenues over Q3 2004, and a 2% increase over Q2 2005. Total revenues for the nine months to 30 September 2005 were $18.5 million, compared to $15.5 million recorded for the similar period in 2004. Revenues of $942 thousand came from services (maintenance, service and support) for the nine-month period, representing a growth of 22% over the same period in 2004. The geographic distribution of revenue origin for the nine-month period shows growth in the Americas with 46% (37% for the same period in 2004) and Europe with 38% (44%), with the rest of the world contributing 16% of revenues (19%).

See avt-inc.com.