KRONES AG — AGM Information 2002

Jun 19, 2002

News Details

Corporate | 19 June 2002 17:00

Krones AG english

KRONES’ sales and earnings set to rise again in 2002 Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– KRONES’ sales and earnings set to rise again in 2002 At today’s AGM, the Executive Board of KRONES AG, Neutraubling, confirmed the growth forecasts for 2002, and has appointed two new members to the Executive Board. KRONES is still comfortably on course for growth in 2002. As confirmed by the Executive Board at the AGM on 19 June 2002, the group will achieve continued growth in the current year as well. Consolidated sales are expected to reach substantially more than Euro1.2 bn (preceding year: Euro 1,165 m). Consolidated net income for the year is forecast to grow by at least +10% (preceding year: Euro 50.3 m). The return on capital employed (ROCE) is set to exceed 22.5%, and net return on sales to total 4.5 %. Earnings per share are expected to be Euro 5.25 (following Euro 4.78 in 2001). To assure future continuation of KRONES’ dynamic performance, the Supervisory Board, at its meeting on 19 June 2002, approved the following changes in the Executive Board of KRONES AG, due to take effect on 1 January 2003: To succeed Herr Alois Müller, who on reaching retirement age will stand down as planned from the KRONES Executive Board on 31 December 2002, Dipl.-Ing. Werner Frischholz has been appointed a deputy member of the Executive Board in charge of “OPERATIONS”. As previously this remit covers purchasing, production, and service support. The Supervisory Board has also appointed Dipl.-Ing. Christoph Klenk as a deputy member of the Executive Board for the “R&D and DIVISIONS” remit, which covers research and development, design and the group’s divisions. This move progresses the goal of maintaining KRONES as a meticulously customer-focused group committed to technical excellence and continual innovation. end of message, (c)DGAP 19.06.2002