EQS-News: Krones continues profitable growth path
Source: EQS
Krones continues profitable growth path
Krones can look back on a successful first quarter 2024. The company’s markets are largely unaffected by economic fluctuations and customers continue to be very keen to invest. Order intake up significantly on preceding quarter, revenue growth fully on target As the global leader, Krones was able to take advantage of the good market conditions. At Krones’s revenue also continued its positive trend in the first quarter of 2024. Revenue increased by 4.0%, from Due to the strong demand, Krones’ order backlog further increased in the first three months of 2024. At the end of EBITDA margin increases from 9.6% in the previous year to 10.1% Despite high labour and material costs, Krones’ profitability further improved in the first quarter of 2024. This reflects the company’s increased efficiency. Krones was able to offset rising material costs with constantly higher prices for its machines and lines. Earnings before interest, taxes, depreciation and amortisation (EBITDA) went up by 9.1% year on year between January and Earnings before taxes (EBT) climbed by 7.2% in the first quarter of 2024, from Krones generates positive free cash flow despite purchase price payment for Netstal Krones’ free cash flow developed very well in the first quarter of 2024. Mainly due to the improvement in working capital, free cash flow excluding M&A activities increased significantly to ROCE (return on capital employed) increased in the first quarter to 19.0% (previous year: 17.8%), mainly due to the higher earnings before interest and taxes. Krones continues profitable growth path and confirms full-year financial targets for 2024 Krones made a good start to the 2024 financial year and has a very large order backlog. At the same time, various uncertainties mean that the business environment remains challenging. This includes geopolitical risks in Based on the prevailing macroeconomic outlook and the current expected development of the markets relevant to Krones, and after the positive first quarter, the company confirms its financial targets for 2024. Krones expects consolidated revenue growth of 9% to 13%. On the basis of increasing revenue, an ongoing disciplined price strategy and systematic implementation of the cost optimisation measures, Krones aims to improve profitability again this year compared to 2023, despite rising material and labour costs. At group level for 2024, the company forecasts an EBITDA margin of 9.8% to 10.3% (2023: 9.7%). For the third performance target, ROCE, Krones expects an increase in the current year to between 17% and 19% (2023: 16.3%). All forecast figures for 2024 include the effects of the acquisition of Krones has published the complete quarterly statement online at: https://www.krones.com/media/downloads/Q1_2024_e.pdf Contact:
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Language: | English |
Company: | |
Böhmerwaldstraße 5 | |
93073 Neutraubling | |
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 |
EQS News ID: | 1894729 |
End of News |
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1894729 03.05.2024 CET/CEST