Corporate | 28 April 2016 09:30
Krones AG: Krones has got 2016 off to a good start
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DGAP-News: Krones AG / Key word(s): Quarter Results
Corporate news release
Krones has got 2016 off to a good start – Revenue grew 4.5% to EUR772.1 million in the first quarter. – New orders also increased 4.5%. – Krones improved earnings. The EBT margin widened from 6.8% to 7.1%. – Executive Board confirms targets for 2016. Krones expects 3% revenue growth and an EBT margin of 7.0%. Krones, the world’s leading manufacturer of filling and packaging technology, continued its stable growth trend in the first quarter of 2016 after a strong year in 2015. As a full-service supplier with a broad range of products and services, Krones was able to hold its own in highly competitive markets. In the period from January to March 2016, revenue increased 4.5% year-on-year from EUR738.9 million to EUR772.1 million. New orders also rose 4.5%, from EUR787.0 million in the year-earlier period to EUR822.2 million. The biggest increase in new orders came in Europe and North America. Demand was stable in China. At 31 March 2016, orders on hand at Krones totalled EUR1,144.7 million, which is 4.6% higher than at the end of 2015. Krones’ earnings increased further. In the period from January to March 2016, earnings before taxes (EBT) once again rose more than revenue, 9.8% from EUR50.2 million in the previous year to EUR55.1 million. The EBT margin, the ratio of earnings before taxes to revenue, rose from 6.8% to 7.1%. Krones benefited primarily from cost savings achieved as part of the Value strategy programme. Market prices did not improve in the reporting period. Consolidated net income increased 9.7% in the first quarter of 2016 to EUR38.4 million. That corresponds to earnings per share of EUR1.23 (previous year: EUR1.11). The return on capital employed (ROCE), that is the ratio of earnings before interest and taxes to average net tied-up capital, improved to 16.7% in the reporting period (previous year: 16.5%). Good start to the year affirms outlook for 2016 as a whole Based on the current macroeconomic prospects and developments on the markets relevant to Krones, the company expects consolidated revenue to grow by 3% in 2016. Krones’ earnings are set to improve yet again this year. The Executive Board is forecasting an EBT margin of 7.0% for 2016. Krones aims to increase its third strategy target, ROCE, to 18% this year. Krones published the complete Quarterly Statement for the first quarter of 2016 online today at http://www.krones.com/en/investor_relations/reports.php. Key figures Q1 2016
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2016-04-28 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| Language: | English | |
| Company: | Krones AG | |
| Böhmerwaldstraße 5 | ||
| 93073 Neutraubling | ||
| Germany | ||
| Phone: | +49 (0)9401 701169 | |
| Fax: | +49 (0)9401 709 1 1169 | |
| E-mail: | investor-relations@krones.com | |
| Internet: | www.krones.com | |
| ISIN: | DE0006335003 | |
| WKN: | 633500 | |
| Indices: | MDAX | |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart; Terminbörse EUREX | |
| End of News | DGAP News Service |