Opportunities

The following section describes the main opportunities available to the Koenig & Bauer Group. In the absence of any indication to the contrary, these affect all segments equally. However, they represent only a selection of the opportunities available. The order in which the opportunities are presented reflects the assessment of their relative significance for the Koenig & Bauer Group and provides a basis for assessing them. The assessment of opportunities is also subject to continuous change, as the company, the technologies it uses, the markets and its customers are constantly evolving. New opportunities may arise from this, existing ones may cease to exist or the significance of an opportunity may change.

Industry

In principle, the greatest opportunities for Koenig & Bauer arise in the printing industry itself. Following the far-reaching market consolidation among large packaging manufacturers in the previous year, which led to investment delays, the stabilisation that is now setting in offers the opportunity to catch up on replacement and expansion investments. Opportunities for improving business performance arise from the development potential of special applications in packaging and industrial printing, as well as digital printing, which is gaining in importance in the packaging sector. In this context, new regulatory requirements in particular, such as the Digital Product Passport (DPP), as well as international industry standards for the introduction of two-dimensional data carriers (GS1 Sunrise 2027), offer market opportunities for digital platform solutions such as AURAVEO. These trends support the goal of transforming packaging into multimedia communication channels and open up additional revenue potential for Koenig & Bauer beyond classic mechanical engineering. Looking forward, Koenig & Bauer will continue to work closely on expanding its service business, including with a focus on digitisation (e.g. myKyana, SalesForce). Koenig & Bauer explicitly addresses these topics in the strategic framework “IMPACT” adopted in December 2025 – with the aim of further increasing resilience, digitalisation and modularity.

Opportunities outside the printing industry are still seen in battery cell production. Further detailed information can be found in the chapters “Goals and Strategy” and “Markets addressed and growth opportunities”. Opportunities for growth may also arise from gains in market share due to changes in the competitive environment.

Opportunities from acquisitions and alliances 

Koenig & Bauer monitors current and potential markets to identify opportunities for strategic mergers, acquisitions, investments and partnerships that it can use to complement organic growth. These activities could help Koenig & Bauer to strengthen its position in its current markets, to complement its portfolio in strategic areas or to open up new markets. This could include the development cooperation with PowerCo SE in the field of sustainable battery cell production, which was successfully continued in the year under review. Following the provision of the proof of concept in June 2025, the scaling phase now initiated offers the opportunity to demonstrate the suitability of the technology for industrial series production. Further potential lies in the “protected at print” initiative of Vision & Protection GmbH. This makes it possible to transfer technological market leadership from high-security printing to the growing demand for brand protection and product authentication in the consumer goods sector. The same applies to the strategic partnership with Siemens for the further development of the modular automation toolkit as well as cooperations in the field of quality control systems. Further information can be found in “Partnerships and cooperations” on pages 29 f.

Macroeconomic and cyclical opportunities

The signs of subsiding global inflation should in particular spur the recovery of the global economy and, in its wake, the printing industry. This would also be aided by an easing of the current procurement situation, particularly for electronic components such as semiconductors, and the transport situation as well as energy costs. In a number of countries there are also opportunities for social and political changes, government intervention, customs regulations and legislative amendments that may have a positive impact on the Koenig & Bauer Group’s business performance. This includes in particular the assumption that, based on recent US case law, there will be prompt clarity regarding import tariffs, so that customers can make their investment decisions without trade-related uncertainty. A recent example of this is also the legislative measures and government action to accelerate the response to halt global climate change, especially in Europe, through the Green Deal.

Planning, control and monitoring 

The forecasts of future business performance are based on assumptions that are subject to certain uncertainties. In addition to the risks already described, they also entail opportunities. Higher revenue than assumed for budgeting purposes and a more advantageous cost situation would have a positive impact on earnings.

Financial opportunities 

A shift in exchange rates in the company’s favour, in particular an appreciation of the US dollar against the euro, would have a positive impact on the revenue and earnings performance of the Koenig & Bauer Group. In a favourable capital market environment, an increase in the discount rate on future retirement benefits (as well as the performance of plan assets) offers scope for reducing provisions for retirement benefits and similar obligations and for an increase in equity due to actuarial gains. The ESG targets may also have a positive impact on Group earnings, depending on the extent to which they are achieved.

Summary of the situation with respect to opportunities 

The overall situation with regard to opportunities available to the Koenig & Bauer Group is considered moderate. Even though the challenging macroeconomic conditions are factored into its expectations and business plans, Koenig & Bauer currently does not believe that the opportunities presented here outweigh the risks listed in the risk report given the faltering and regionally limited recovery of the global economy, as well as mounting geopolitical tensions and volatile framework conditions. There are no changes in the opportunities available to the Koenig & Bauer Group compared with the previous year.