Shareholders approve all resolutions

In addition to details of the group’s business performance in 2019 and in the first quarter of 2020, the numerous product innovations and the successfully launched offensive for digitisation with the service business as a main topic were the focus of the first virtual annual general meeting of Koenig & Bauer AG. The management board reported that the coronavirus pandemic, which has been spreading rapidly since January, has already had a considerable impact on revenue and earnings in the current financial year. CEO Claus Bolza-Schünemann: “Our broad product portfolio with a significant share of revenue in system-relevant packaging printing, the robust, increasingly digital service business and our sound balance sheet with a high equity ratio limit the risk potential. With the corona crisis management established in March, we are working to actively counter this extraordinary situation. The health and safety of our employees, customers and suppliers is our top priority. Our action plan focuses on reliable customer support, cost and investment discipline and securing liquidity. There were almost no restrictions on the supply chain. Short-time working has, however, been in place at different locations since 1 April 2020 due to capacity utilisation. Under the currently uncertain general conditions, the impact on revenue and earnings in the 2020 financial year cannot yet be quantified.“