EQS-News

Krones AG: Krones continues profitable growth under difficult conditions

EQS-News: Krones AG / Key word(s): Quarter Results Krones AG: Krones continues profitable growth under difficult conditions 04.11.2022 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement.

4 November 2022

Krones continues profitable growth under difficult conditions

 

• Order intake grew in the first three quarters by 44.1% to €4,599.7 million. At €3,449.0 million, the order backlog as of 30 September 2022 was almost twice as large as a year earlier.
• Krones recorded stable growth under difficult conditions in the first nine months of 2022. Revenue increased by 15.2%, from €2,643.0 million in the previous year to €3,043.7 million.
• Profitability improved despite material shortages and rising costs. Earnings before interest, taxes, depreciation and amortisation (EBITDA) climbed by 27.0% in the first three quarters to €270.1 million. The EBITDA margin went up from 8.0% to 8.9%.
• Krones has raised its guidance for revenue growth in the full year 2022. The Executive Board now expects revenue growth of 10% to 12% (previously 5% to 8%). The guidance for the other two financial targets remains unchanged. Krones continues to expect an EBITDA margin of 8% to 9% and ROCE of 10% to 12%. The Executive Board is confident of reaching the upper end of the target range for both figures.

 

 

After record order intake in the first half of 2022, the strong demand for Krones products and services continued unabated in the third quarter. Order intake between July and September 2022, at €1,493.3 million, exceeded the already good prior-year figure of €1,148.3 million by 30.0%. In total over the first three quarters of 2022, the contract value of orders increased by 44.1%, from €3,192.6 million a year earlier to €4,599.7 million. At €3,449.0 million as of the end of September 2022, the order backlog at Krones was up 95.9% on the previous year (€1,760.9 million). Compared to the beginning of 2022, the increase is €1.56 billion, or 82.2%.