KBA back in black

An operating profit of £13.9 million was achieved for 2004, a major improvement on the £1.3m loss for 2003. KBA's overall sales for the year grew by 15% to reach £977 million, the best annual sales performance in the company's history.

The accounts reveal a sharp growth in sheetfed orders between 2003 and 2004, while demand for web and special presses is also on the rise. Orders for newspaper and security presses fell slightly during the year, although the company's new Cortina waterless newspaper press has been described as a major source of income.

Chief executive Albrecht Bolza-Schünemann claims that KBA's return to profit in 2004 was helped along by the adoption of longer and more flexible working hours at its German production plants. “This was a major step in controlling overheads, and will make us more competitive,” he claims.

Bolza-Schünemann insists however that the sales increase is not reflected in the company's share price, and emphasises that KBA intends to further improve performance. The company expects in 2005 to deliver higher earnings than the two previous years, with Bolza-Schünemann claiming the results will “commensurate with our standing as an innovative press manufacturer”.