A folder includes a cutter for cutting a web of material into signatures, a folding device for producing at least one fold in a signature cut from the web of material, at least one delivery and one conveyor path for directly feeding the cut signatures to the delivery device while avoiding the folding device. The signatures can be guided either by the conveyor path or through the folding device. A signature switch of the conveyor path distributes the signatures to two flies or paddle wheels that deliver to conveyor belt devices that are arranged in parallel to the rotational axes of the paddle wheels.