21.07.2016
Krones AG DE0006335003
DGAP-News: Krones AG: Krones increased revenue and earnings in the first half of 2016
DGAP-News: Krones AG / Key word(s): Half Year Results
Krones AG: Krones increased revenue and earnings in the first half of 2016
21.07.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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Corporate news release
21 July 2016
Krones increased revenue and earnings in the first half of 2016
- Revenue in the period from January to June 2016 grew 3.8% to EUR1,560.3
million.
- New orders improved 5.1% to EUR1,602.4 million.
- Earnings before taxes (EBT) climbed 3.1%. The EBT margin was stable at
6.9%.
- Krones is standing by its forecast for 2016 as a whole, predicting 3%
revenue growth and an EBT margin of 7.0%.
Krones, the world's leading manufacturer of filling and packaging
technology, grew as forecast in the first half of 2016 despite mounting
economic uncertainties. In the period from January to June 2016, revenue
grew 3.8% to EUR1,560.3 million. The company's growth in the Middle East/
Africa, Central and Eastern Europe, and North and Central America regions
was stronger than overall growth. After a weak start to the year, revenue
in China picked up in the second quarter of 2016.
New orders at Krones increased 5.1% in the first half of 2016 to EUR1,602.4
million. The strongest orders growth was in Europe. Customers in North
America and China were also investing heavily. New orders were down in
South America and Russia/CIS. At the end of June 2016, the company had
orders on hand totalling EUR1,136.7 million (previous year: EUR1,099.5
million).
Stable margin despite intense competition
As expected, Krones' earnings received no support from prices in the first
half of 2016. The 3.1% year-on-year improvement in earnings before taxes
(EBT) in the period from January to June 2016, from EUR104.1 million to
EUR107.3 million, resulted entirely from the successful implementation of
the Value strategy programme. Krones was able to keep its EBT margin steady
at 6.9% in the first half of 2016 despite intense competition on the
markets. Net income increased 2.3% year-on-year to EUR74.4 million.
Earnings per share rose to EUR2.37 (previous year: EUR2.32).
Krones' return on capital employed (ROCE), that is the ratio of EBIT to
average net tied-up capital, came to 15.6% in the first half of 2016
(previous year: 17.0%).
Krones is standing by its forecast 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 expects the company to
achieve an EBT margin of 7.0% in 2016. Krones aims to increase its third
strategy target, ROCE, to 18% in 2016.
Krones has published the complete Quarterly Report for the second quarter
of 2016 online at http://www.krones.com/en/investor_relations/reports.php.
Key figures for 1 Jan - 1 Jan - Change H1 2016 30 Jun 2016 30 Jun 2015 Revenue EUR million 1,560.3 1,503.7 +3.8% New orders EUR million 1,602.4 1,524.1 +5.1% Orders on hand at EUR million 1,136.7 1,099.5 +3.4% 30 June EBITDA EUR million 147.2 144.1 +2.2% EBIT EUR million 103.3 101.2 +2.1% EBT EUR million 107.3 104.1 +3.1% EBT margin % 6.9 6.9 - Net income EUR million 74.4 72.7 +2.3% Earnings per EUR 2.37 2.32 +2.2% share Capital EUR million 34.1 30.2 EUR+3.9 expenditure for million PP&E and intangible assets Free cash flow EUR million -169.2 - 22.0 EUR-147.2 million Net cash and cash EUR million 149.6 274.9 EUR-125.3 equivalents at 30 million June* ROCE (liabilities % 15.6 17.0 - side) ROCE (assets % 14.2 15.0 - side) Employees at 30 June Worldwide 13,742 12,854 +888 Germany 9,734 9,458 +276 Outside Germany 4,008 3,396 +612 * Cash and cash equivalents less debt Key figures for 1 Apr - 1 Apr - Change Q2 2016 30 Jun 2016 30 Jun 2015 Revenue EUR million 788.2 764.8 +3.1% New orders EUR million 780.2 737.1 +5.8% EBITDA EUR million 71.2 73.6 -3.3% EBIT EUR million 49.1 52.0 -5.6% EBT EUR million 52.2 53.9 -3.2% EBT margin % 6.6 7.0 - Net income EUR million 36.0 37.7 -4.5% Earnings per EUR 1.15 1.21 -5.0% shareContact: Olaf Scholz Head of Investor Relations at Krones AG Phone: +49 9401 70-1169 E-mail: [email protected] --------------------------------------------------------------------------- 21.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Krones AG Böhmerwaldstraße 5 93073 Neutraubling Germany Phone: +49 (0)9401 701169 Fax: +49 (0)9401 709 1 1169 E-mail: [email protected] 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; Terminbörse EUREX End of News DGAP News Service --------------------------------------------------------------------------- 484505 21.07.2016
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