Würzburg, Germany, 30 November 2024 - To optimally serve changing market needs, Koenig and Bauer has decided to realign its Group structure. From 2025, the company will operate with two more customer-focused segments (instead of the previous three): Paper & Packaging Sheetfed Systems (P&P) and Special & New Technologies (S&T). Its focus will remain on the high-growth packaging market.

The P&P segment will specialise in end-to-end solutions for the high-growth folding box and corrugated cardboard box markets, addressing all aspects such as the preprint stage, printing with an integrated digital workflow and postprint processing. In the growing market for postprint solutions (such as punching and folding box gluing in particular), Koenig & Bauer is the only full-scale supplier able to offer its customers the entire range of packaging production solutions. Commercial printing will remain a further priority.

The S&T segment will consolidate the previous activities of the Special segment (banknote and security printing, systems for industrial marking and coding and special systems for metal and glass/hollow container direct printing), as well as the remaining activities of the former Digital & Webfed segment. This includes the special packaging printing applications, primarily web digital and flexo web printing. Likewise, the partnership forged between Koenig & Bauer and the Volkswagen subsidiary PowerCo for the development of dry coating for battery cell production will be integrated in this segment. New applications (inspection systems and protection technologies) will be spun off from security printing into an independent Vision & Protection business unit.

Mr. Christian Steinmaßl, the former executive VP of Heidelberg's Packaging Division, joins Group management on 1 December 2024, taking on a key role in the new Special & New Technologies segment. Steinmaßl initially will assume responsibility for the new autonomous Vision & Protection (inspection systems and protection technologies) and Kyana (formerly Digital Unit) business units and report to the Executive Board. He will also be responsible for production and other operational shared services within the Group.

The new segmentation and different focus result in changes to central responsibilities for operations as well as cross-sectional functions. Some of these will be re-assigned to the two new segments to a greater extent to address the individual requirements of the various markets more effectively. Consequently, the previous role of a central Group COO no longer is required. For this reason, the company and Michael Ulverich have mutually agreed that he will leave Koenig & Bauer and step down from the Management Board (effective 30 November 2024).

Dr. Andreas Pleßke, CEO of Koenig & Bauer (pictured below), initiated these changes in close consultation with the Supervisory Board. He explains: "The Group’s top priority is to align itself with its customers and markets and to streamline decision-making paths within its business units." The changes should enable the manufacturer to act in an even more agile and customer-orientated manner.

KOENIG AND BAUER Q3 2024 EARNINGS

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