KRONES AG — Earnings Release 2002

Oct 24, 2002

News Details

Ad-hoc | 24 October 2002 20:32

Krones AG english

KRONES’ growth continues above budget through the 3rd quarter of 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– KRONES’ growth continues above budget through the 3rd quarter of 2002 KRONES, the world’s market leader for beverage filling and packing lines, bucked the general downtrend to stay on course for expansion against international competition, and further upgrade its leading-edge status. The demand for KRONES products rose once again during the first nine months of this year. Order bookings in the KRONES Group were up by 17.3 % for this period, from Euro 878.5 m to Euro 1,030.4 m. On 30 September 2002, the group’s orders on hand, including secondary business, totalled Euro 669.1 m (30.09.2001: Euro 634.6 m, + 5.4 %). In line with expectations, KRONES successfully increased its consolidated sales from January to September 2002 by 15.7 % to reach Euro 981.1 m (January to September 2001: Euro 848.2 m), despite a stagnating economy worldwide. The KRONES Group’s global focus is underlined by the proportion of export sales, which is more than 77 %. Consolidated earnings after taxes as per 30 September 2002 showed an overproportional increase of 19.3 % to Euro 43.8 m (preceding year: Euro 36.7 m). Only by continual investment and expansion can KRONES maintain its leading-edge status. In the first 9 months of this year, KRONES invested Euro 40.7 m (preceding year: Euro 40.8 m). The steeper growth in sales contrasts with a smaller rise in the group’s workforce. On 30 September 2002, the KRONES Group was employing 8,511 people (preceding year: 8,304 = + 2.5 %), 7,338 of them in Germany and 1,173 at the subsidiaries abroad. By 30 September, the MDAX was more than 36 % down on the beginning of the year. The price of the ordinary KRONES share fell by a mere 6.6 % during this year’s first nine months, with the preference share down by around 13 %. Thus the KRONES shares have held up very well. Currently (22.10.2002), the price of the preference shares has recovered to just under +6.6 % and that of the ordinary shares to almost +7.5 % compared to the beginning of the year. The budgeted growth in consolidated sales (preceding year: Euro 1,165 m sales) will be comfortably achieved with the orders currently on hand for the 2002 business year as a whole. The net income (preceding year: Euro 50.3 m) is expected to show an overproportional rise. Despite the less-than-easy macro-economic environment, KRONES will conitnue to perform well during 2003. end of ad-hoc-announcement (c)DGAP 24.10.2002 ——————————————————————————– WKN: 633500; ISIN: DE0006335003; Index: MDAX Listed: Amtlicher Markt in Frankfurt, München; Freiverkehr in Bremen, Düsseldorf, Hamburg, Stuttgart 242032 Okt 02