Germany: Krones Reports Robust Growth and Enhanced Profitability

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.

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