Koenig & Bauer EN
An impressive turnaround
Digital technologies have permanently changed the market structures in the printing industry. For Koenig & Bauer, the impact on its business model was substantial – and called for quick and decisive action. FTI-Andersch worked with the company’s management team to strategically re-focus the business.
Company
Koenig & Bauer develops and produces innovative printing Systems and related Solutions. The long-standing family-run business was established in 1817 and is now the world’s second-largest manufacturer of printing presses, with a workforce of over 5,600 employees.
Initial Situation
There was a fundamental change to Koening & Bauer's core markets due to the decline in printed media and printing shops and the advent of new vendors and applications demanding innovative printing technologies. This resulted in a decline in revenues and the need for the company to be restructured.
Solution
Together with the management team, FTI-Andersch developed a strategy to combat the market decline whilst also identifying further areas of optimization. The restructuring included adjusting all value creation structures, introducing flexible and transparent corporate and management structures, and developing new business segments.
Achievements
By working with FTI-Andersch, the company is now focused on the future digital markets and is less dependant on its shrinking traditional core markets. The internal optimization measures introduced meant that restructuring costs were funded by the business. The restructuring measures also had a positive impact on market capitalization, which increased sharply, reflecting investors' view of the additional value added to the company.
Stable partnerships are based on quality, integrity, and honesty. Alongside the detailed preparation of all the analyses and implementation measures, the unconditional fulfilment of the necessary criteria as well as the unwavering trust and the spirit of fair play shown by FTI-Andersch were key success factors throughout the restructuring process.
Claus Bolza-Schünemann
Former CEO, Koenig & Bauer, Manufacturer of printing machines
