In view of the much lower sales volume than expected in both business segments due to economic and market developments, the press manufacturer’s initial target of Group annual sales of approx. €1.3 billion in 2013 will not be reached and management estimates revenue of approximately €1.1 billion. Given reduced sales, anticipated extraordinary expenses for impairments and restructuring measures, it is likely that KBA will post a loss for 2013. Excluding the special items mentioned, management continues to target a positive operating result and balanced Group earnings before taxes.
KBA will publish the interim report on the third quarter including further details on Nov. 11.