Krones, global leader in providing solutions for the production, filling, labeling, and packaging of beverages, has reported robust growth and improved profitability in the first three quarters of 2023. Despite a challenging economic outlook, market activities and international customer investment in the sector remain high.
The demand for Krones' products and services is strong, with a 4.3% increase in order intake in Q3, reaching 1.32 billion euros, and the order backlog surpassing 4 billion euros for the first time. Despite electronic component shortages, Krones' revenue grew by 14.5% to 3,485.6 million euros from January to September.
Krones significantly enhanced profitability, with a 23.0% increase in EBITDA to 332.3 million euros and an improved EBITDA margin of 9.5%. The company reiterates its forecasts for 2023, anticipating revenue growth of 11% to 13% and aiming for an EBITDA margin of 9% to 10%. Despite challenges, Krones achieved a notable increase in Return on Capital Employed (ROCE) to 17.0%. The company remains confident in achieving its financial goals for the year, focusing on sustained growth and profitability.