KRONES AG — Earnings Release 2009

Jul 29, 2009

News Details

Ad-hoc | 29 July 2009 07:28

Krones AG: Krones makes a loss in the first half of 2009

Krones AG / Half Year Results

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The issuer is solely responsible for the content of this announcement.

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Neutraubling, Germany, 29 July 2009 - The figures at Krones, the world's
market leader for beverage filling and packaging technology, were hit by
the cyclical downtrend in the first half of 2009. From January to June
2009, sales fell by 23.3 % on a like-for-like comparison, to 924.4 million
euros. The company's order bookings in the year's first half fell by 29.7 %
to 874.0 million euros. In the year's second quarter, order bookings were
up by 11 % compared to the first three months of the ongoing business year.
On 30 June 2009, the order backlog totalled 787.0 million euros (31 Dec.
2008: 837.4 million euros).

Due to the less-than-easy market conditions and the concomitantly severe
decrease in sales, Krones' pretax result in the year's first half fell on a
like-for-like basis from 91.8 to minus 15.8 million euros. After taxes, the
loss came to 16.0 million euros. The cost-cutting initiatives, part of the
company's extensive 'Conversion' programme, were already beginning to bite
in the period under review. The programme's full effect will be felt as the
year proceeds.

Outlook

There are initial indications that the macro-economic situational framework
is at least no longer deteriorating. But the situation is precarious, the
imponderabilities are huge. This means it would be irresponsible to predict
the group's consolidated result for 2009. Krones is still proceeding on the
assumption that the worldwide financial and economic crisis will continue
to have a significant effect on the firm's sales and results for the rest
of this year. With its extensive 'Conversion' package of initiatives, the
company is able to compensate for a fall in sales of more than 20 %.
However, the purchasing restraint being exhibited by its customers, and the
concomitant difficulty of forecasting price developments, constitute an
additional burden on potential results. Overall, from today's perspective,
the company expects to make a loss in the 2009 business year.

Your contact person:
Olaf Scholz
Head of Investor Relations Krones AG
Tel.: +49 9401 70-1169
Email: olaf.scholz@krones.com

Contact:
Olaf Scholz
Leiter Investor Relations
Tel.: +49 9401 70-1169
E-Mail: olaf.scholz@krones.com

29.07.2009 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: investor-relations@krones.com
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

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