AI assistant
KRONES AG — Earnings Release 2007
Apr 29, 2008
251_rns_2008-04-29_1c3db9d6-ca46-414f-b1aa-8a522ebf4fd5.html
Earnings Release
Open in viewerOpens in your device viewer
News Details
Corporate | 29 April 2008 10:30
KRONES AG: New records for Krones in the 2007 business year / Dividend to rise from 0.53 euros to 0.70 euros per share
Krones AG / Final Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
Krones AG, the world’s market leader for beverage filling and packaging
technology, achieved new record highs in all its major figures during the
2007 business year. Sales rose by 12.8 % over the preceding year to reach
2,156.0 million euros. Order bookings were up by 16.9 % at 2,300.2 million
euros.
At 890.9 million euros, (preceding year: 746.7 million euros), Krones
possessed a comfortable order backlog on 31 December 2007.
Dynamic growth in 2007 was driven primarily by continually increasing
demand for packaging machinery. The company also benefits from its ability
to offer the entire spectrum of products and services required for building
bottling and canning plants. International beverage conglomerates in
particular, who are building numerous new facilities in regions like
Eastern Europe, Asia and Africa, make full use of Krones’
complete-job-package capabilities.
Profitability improved significantly
Earnings before taxes rose in 2007 by 40.1 % to reach 153.6 million euros.
The EBT margin, i.e. pretax earnings in relation to sales, thus improved
from 5.7 % to 7.1 %. For profits after taxes, Krones broke the
100-million-euros barrier for the first time in 2007. At 101.8 million
euros, profits were 31.4 % up on the preceding year’s level. Earnings per
share increased from 2.45 euros to 3.25 euros. The Executive and
Supervisory Boards will propose to the AGM that the dividend per share be
increased from 0.52 euros to 0.70 euros per share. This would be the ninth
dividend increase in succession.
The return on capital employed (ROCE) improved in 2007 from 16 .1 % to
20.2 %, and thus exceeded the targeted figure of at least 20 %.
A good start to the 2008 business year
Krones achieved substantial growth in the first quarter of 2008, with sales
up by 17.9 % on a like-for-like basis at 595.2 million euros. Order
bookings rose by 9.0 % to reach 607.3 million euros. On 31 March, orders on
hand at Krones totalled 903.0 million euros, 13.0 % up on the preceding
year’s figure.
Earnings before taxes (EBT) rose in the year’s first quarter by 26.3 % to
reach 45.6 million euros. The EBT margin thus improved from 7.1 % to 7.7 %.
Profits after taxes rose by 34.1 % to reach 30.7 million euros, earnings
per share from 0.72 euros to 0.98 euros.
Outlook
In the long term, Krones is targeting an annual increase in revenues of
between 5 and 10 %. In view of a good first quarter and auspicious
prospects, the Executive Board anticipates that sales growth in 2008 will
lie towards the upper end of the forecast corridor, and that revenues will
exceed 2.3 billion euros.
Krones aims to further improve the return on sales before taxes (EBT
margin) in 2008 (preceding year: 7.1 %). Since the company benefits from
the reform of Germany’s corporation tax legislation, earnings after taxes
will increase more steeply than pretax earnings.
For details of the 2007 annual report and the first quarter of 2008, please
consult the quarterly and annual reports, which as from 29 April 2008 are
available at: www.krones.com / Investor Relations
Your contact person:
Olaf Scholz
Head of Investor Relations Krones AG
Tel.: +49 9401 70-1169
Mobile: +49 151 12248730
Email: [email protected]
Contact:
Olaf Scholz
Leiter Investor Relations
Tel.: +49 (0) 9401 - 701169
E-Mail: [email protected]
29.04.2008 Financial News transmitted by DGAP
Language: English
Issuer: Krones AG
Böhmerwaldstraße 5
93073 Neutraubling
Deutschland
Phone: +49 (0)9401 703258
Fax: +49 (0)9401 703786
E-mail: [email protected]
Internet: www.krones.com
ISIN: DE0006335003
WKN: 633500
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service