KRONES AG — Earnings Release 2011

Oct 26, 2011

News Details

Ad-hoc | 26 October 2011 07:07

Krones AG: Krones remains optimistic

Krones AG / Key word(s): Quarter Results

26.10.2011 07:07

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Neutraubling, Germany, 26.10.11 - Krones, the world's market leader for
beverage filling and packaging technology, progressed its growth curve
during the first three quarters of 2011. From January to September 2011 the
company's sales rose by 14.6 % compared to the preceding year, from 1,583.0
m euros to 1,814.2 m euros. Order bookings rose by 17.0 %, from 1,617.7 m
euros in the preceding year to 1,892.7 m euros. Krones' order backlog at
the end of September was 987.3 m euros (preceding year: 923.2 m euros).
Earnings before taxes (EBT) rose in the first three quarters of 2011 from
47.0 m euros in the previous year to 84.1 m euros. This means the EBT
margin, the result before taxes in proportion to total turnover, was 4.6 %
(preceding year: 3.0 %). After taxes, 59.3 m euros (preceding year: 31.9 m
euros) from January to September. Earnings per share were 1.97 euros,
following 1.05 euros in the preceding year.
Outlook
Following the first three quarters of 2011, Krones has moved closer to its
target of increasing sales by more than 10 % compared to the preceding
year, and exceeding the previous record figure from 2008 of around 2,381 m
euros. In the 'Value' strategic programme, the company has mapped out
medium-term growth targets. Krones can achieve these goals only if the
company possesses sufficient properly qualified staff. This is why this
year Krones has significantly upsized its workforce, not least through
extensive hirings of skilled and motivated temporary workers. This will
adversely affect earnings in the short term. Nonetheless, Krones AG's
Executive Board anticipates that in 2011 as a whole the result will show a
significant improvement compared to the preceding year, and that a pretax
return on sales of about 5 % (preceding year: 3.3 %) can be achieved.
From today's perspective, it is difficult to predict how the world economy
will develop in 2012. Because our customers are from the non-cyclical
consumer goods sector, Krones is not heavily dependent on economic cycles.
Therefore, assuming that the global economy does not deteriorate further,
the company still believes to achieve its target of increasing earnings in
all of our segments in 2012 and generating a pre-tax total return on sales
of around 7 %.

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Language: English
Company: Krones AG
Böhmerwaldstraße 5
93073 Neutraubling
Germany
Phone: +49 (0)9401 701169
Fax: +49 (0)9401 709 1 1169
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 Announcement DGAP News-Service

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