10.07.2019 Krones AG  DE0006335003

DGAP-Adhoc: Krones AG: Krones adjusts its earnings outlook for 2019


 

DGAP-Ad-hoc: Krones AG / Key word(s): Profit Warning
Krones AG: Krones adjusts its earnings outlook for 2019

10-Jul-2019 / 20:10 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Ad-hoc disclosure
10. July 2019

Krones adjusts its earnings outlook for 2019

Based on the actual available figures Krones, the world's leading manufacturer of filling and packaging technology, adjusts its earnings outlook for the fiscal year 2019. While the revenue growth of Krones in the first six month of 2019 were still satisfactory, the earnings before tax (EBT) for this period will be significantly below the expectations of Krones.

The profitability of Krones is influenced by high costs, in particular the material cost ratio, remains on high level. Krones expected that the weaker economic outlook in other important industries in 2019 would have resulted in an easing in the increasing of material costs. Also, the additional measures, which are implemented by Krones to reduce the material costs materialize with a delay. Furthermore, the product mix has an unfavorable effect on the earnings for the period January till June 2019. Especially in the second quarter 2019 the sales of products with a high own value added, like machines and lines for the plastic technology, were lower than expected.

Another important reason for the actual earnings development is the sales growth of the high-margin after sales business (LCS), which were in the first 6 month of 2019 below expectations. The demand of the customers of Krones for some parts of the LCS product and service offering, were negatively influenced by the macroeconomic uncertainties. In the second half year the LCS business is expected to recover.

Krones still expects an unchanged growth target of 3% in 2019. The EBT margin is planned around 3% (prior target: around 6%). For its third target, working capital to revenue, Krones expects an unchanged figure of 26%.

The board has taken measures in order to counteract the earnings decline. This includes among others a hiring freeze and measures to reduce the material costs. The strategic measures that Krones has introduced so far, like the price increase and the development of the global footprint are however not sufficient to reach the ambitious targets. Hence, the board is working in additional structural changes in order to strengthen its earning level in the long run.

Krones keeps its mid term targets. Depending on the macro economic environment and development of Krones markets, the board envisages a year-on-year revenue growth of 3 to 5% without acquisition effects, an EBT margin of 6 to 8% and a working capital to revenue ratio of 22 to 24%.

Krones will publish the interim report as of June 30th of 2019 by 25th of July 2019.

Explanation of financial key figures of Krones:
The EBT margin is the earnings before taxes in relation to sales. The key figures Working Capital to Revenue is calculated as the average of Working Capital to revenue of the last four quarters.

Contact:
Olaf Scholz
Head of Investor Relations, KRONES AG
Phone: +49 9401 70-1169
E-mail: [email protected]


10-Jul-2019 CET/CEST 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: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange
EQS News ID: 839607

 
End of Announcement DGAP News Service

839607  10-Jul-2019 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 3.173,51 3.391,25 3.691,36 3.853,98 3.958,88 3.322,74 3.608,00
EBITDA1,2 305,30 320,83 340,19 305,89 227,26 133,22 278,00
EBITDA-Marge3 9,62 9,46 9,22 7,94 5,74 4,01 7,71
EBIT1,4 216,91 227,98 245,47 203,15 43,95 -40,81 135,00
EBIT-Marge5 6,84 6,72 6,65 5,27 1,11 -1,23 3,74
Jahresüberschuss1 156,26 169,10 187,13 150,60 9,24 -79,71 92,00
Netto-Marge6 4,92 4,99 5,07 3,91 0,23 -2,40 2,55
Cashflow1,7 174,43 194,67 -5,86 315,05 93,53 321,77 0,00
Ergebnis je Aktie8 4,98 5,40 5,97 4,78 0,30 -2,52 2,90
Dividende8 1,45 1,55 1,70 1,70 0,75 0,06 0,75
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Ernst & Young

INVESTOR-INFORMATIONEN
©boersengefluester.de
Krones
WKN Kurs in € Einschätzung Börsenwert in Mio. €
633500 84,200 Halten 2.660,14
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
17,54 19,61 0,89 27,44
KBV KCV KUV EV/EBITDA
2,22 8,27 0,80 20,69
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
Hauptversammlung
0,75 0,06 0,07 17.05.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
07.05.2021 03.08.2021 05.11.2021 25.03.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
7,67% 20,94% 27,48% 49,29%
    
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Maschinen-/Anlagenbau , 633500 , KRN , XETR:KRN