Corporate | 25 October 2017 08:00
Krones AG: Krones confirms group targets for 2017
|
DGAP-News: Krones AG / Key word(s): Quarter Results/Quarterly / Interim Statement
25 October 2017
– Order intake increased 10.0% to EUR2,696.8 million in the first three quarters and revenue grew 5.4% to EUR2,508.9 million. Adjusted for acquisitions, the increase was 5.9% and 3.1%, respectively. – The EBT increased to EUR168.0 million for the first three quarters and the EBT margin was 6.7% (previous year: 6.9%). – From July to September 2017, order intake improved 7.9%. Special items and seasonal factors affected Krones’ third-quarter results. Revenue was down 10.5% and the EBT margin declined from 6.9% to 6.4%. – Krones expects a strong fourth quarter and confirms its targets for 2017. The company expects 4% revenue growth and an EBT margin of 7.0%, excluding effects from acquisitions.
Revenue and order intake increased in the first three quarters of 2017 Krones’ revenue in the first nine months of 2017 increased 5.4% year-on-year, from EUR2,380.1 million to EUR2,508.9 million. Adjusted for acquisitions, revenue growth came to 3.1%. Revenue growth was stronger than average in the Western Europe, Asia-Pacific, North and Central America, and South America/Mexico sales regions. Krones’ order intake in the first three quarters of 2017 improved 10.0% year-on-year to EUR2,696.8 million. Adjusted for acquisitions, the increase was 5.9%. Krones’ broad international diversification enabled the company to offset temporary declines in ordering volumes in China and North America.
The orders growth was especially strong in Western Europe. Orders on hand at the end of September 2017 were up 14.2% year-on year, from EUR1,167.0 million to EUR1,332.6 million.
At 6.7%, the EBT margin is down from the previous year
Earnings before taxes (EBT) increased slightly in the period from January to September 2017, by 2.7% to EUR168.0 million. As usual, prices provided no support. While earnings improved in the company’s core segment, machines and lines for product filling and decoration, and in its smallest segment, machines and lines for the compact class, the process technology segment slipped into the red. At the group level, Krones’ EBT margin for the first three quarters of 2017 was down from 6.9% in the previous year to 6.7%. After taxes, consolidated net income was EUR114.6 million for the period from January to September (previous year: EUR114.3 million). That corresponds to earnings per share of EUR3.68 (previous year: EUR3.65).
Krones confirms group targets for 2017 Krones is expecting a strong fourth quarter of 2017 with a high EBT. Therefore, the company has affirmed its targets for the group for 2017 despite a slightly weaker third quarter. Based on the current macroeconomic prospects and developments in the markets relevant to Krones, the company expects revenue to grow by 4% in 2017. The EBT margin should be stable at 7.0% this year. For its third financial performance target, working capital to revenue, the company is forecasting 27% for the current financial year. Acquisitions are not included in these forecasts.
Krones has published the Quarterly Statement online at
Contact:
25.10.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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, Hanover, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |