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Krones plans to pay dividend of €2.20 per share for successful 2023 financial year - Seite 2

Krones increases EBITDA margin to 9.7% (previous year: 8.9%).

Krones’ profitability improved significantly in 2023 despite increased procurement prices and a shift in the product mix. The company’s high flexibility and consistent implementation of the strategic measures contributed significantly here. Krones was also able to compensate for the higher costs with price increases on its products. Earnings before interest, taxes, depreciation and amortisation (EBITDA) went up by 22.5% year on year, from €373.3 million to €457.3 million. The EBITDA margin improved substantially to 9.7% (previous year: 8.9%). This means that Krones achieved its EBITDA margin target for 2023 of9%to10%.

Krones increased earnings before taxes (EBT) by 28.3% in 2023, from €242.1 million to €310.5 million, while the EBT margin rose to 6.6% (previous year: 5.8%). On the bottom line, consolidated net income went up by 20.0% to €224.6 million (previous year: €187.1 million). Earnings per share increased to €7.11 (previous year: €5.92).

Very solid financial and capital structure

Krones generated a positive free cash flow before acquisitions of €13.2 million in 2023. At − €101.3 million, the free cash flow including acquisitions was down on the very high level of the previous year (+ €371.0 million). This was mainly due to the sharp increase in working capital as a result of the high business volume. Return on capital employed (ROCE) improved significantly to 16.3% in 2023 (previous year: 14.1%). The target for 2023 of 15% to 17% has therefore been achieved.

The company’s net cash (cash and cash equivalents less bank debt) amounted at €444.7 million at the end of 2023 (previous year: €669.5 million). The equity ratio was 38.3% (previous year: 38.3%). Overall, Krones continues to possess a very robust financial and capital structure.

With the above figures, Krones has confirmed the preliminary figures published on 22 February 2024.

Krones reduces greenhouse gas emissions in 2023

Krones showed a positive trend in the reporting period not only in its key financial figures, but also in its sustainability performance, which the company reports on in the non-financial statement as part of the group management report. The non-financial statement contains all important qualitative and quantitative non-financial information on material sustainability topics.