Diversifying in digital printing and packaging
Bolza-Schünemann also referred to the profitable product lines which have come about through acquisitions over the past ten years: "This diversification strategy implemented at an early stage helped us significantly during past crisis years and shall be continued with targeted acquisitions in promising print segments. Our healthy balance sheet and sold financial standing give us room to actively shape our future." As an example he cited the intended takeover of the Italian press manufacturer Flexotecnica, a company specialising in presses for printing on film and other substrates in the growing market for flexible packaging. The takeover process should be completed in September. Many projects are soon to be finalised for the KBA RotaJET 76 digital press which was first unveiled at Drupa 2012 as a prototype. The first KBA RotaJET was sold a few days before the AGM. Along with the initially addressed segments books, direct mail and advertising, KBA has unexpectedly received great interest from newspaper printers and users from other areas.
Shareholders agree with proposal for dividend
Allowing shareholders to participate adequately in the company's success remains management's objective. Compared to the previous year, in 2012 KBA quadrupled its group operating profit not including special items. Even after a special depreciation of €27.1m in the sheetfed division, operating profit rose to €16m. The parent, Koenig & Bauer, posted retained earnings of €6.6m after reinvesting 50% of the sum of 2012's net profit and the previous year's profit carried forward. Following last year's decision not to pay a dividend, the management and supervisory boards proposed to pay shareholders a dividend of 40 cents per share taken from the parent's retained earnings. The AGM approved this proposal. The remaining amount of approx. €10,000 will be transferred to other reserves.