KRONES AG — Interim / Quarterly Report 2023

Nov 3, 2023

Krones Group

Quarterly statement for the period from 1 January to 30 September 2023

Interim consolidated financial statements for the period ended 30 SEPTEMBER 2023

3 | Interim consolidated financial 4 | other Information statements 2 | INTERIM CONSOLIDATED MANAGEMENT REPORT 1 | To our shareholders

1	To our shareholders
	Highlights and key figures 4
	Letter from the Executive Board5
	The Krones share 6

Highlights and key figures 1 | 4

Krones confirms full-year guidance for 2023

• Demand for Krones' products and services remains strong. This reflects the fact that demand for packaged beverages is robust to economic cycles and continues to grow at a steady rate. In the third quarter of 2023, order intake improved by 4.3% on the previous quarter to €1,327.7 million.
• Order backlog exceeds the €4 billion mark for the first time and, at €4.09 billion, ensures capacity utilisation in plant and project business through to 2025.
• Krones' revenue developed well between January and September, despite the tight supply of electrical components. Thanks to the great flexibility and creativity of the workforce, revenue increased by 14.5% to €3,485.6 million.
• The company significantly improved profitability in a challenging environment in the first three quarters of 2023. Earnings before interest, taxes, depreciation and amortisation (EBITDA) went up 23.0% to €332.3 million. The EBITDA margin improved to 9.5% in the reporting period (previous year: 8.9%).
• On the basis of the nine-month figures and the continuing strong demand, Krones confirms its full-year guidance for 2023. The Executive Board expects revenue growth of 11% to 13% this year. In addition, the company aims to further improve profitability and forecasts an EBITDA margin of 9% to 10% in 2023. For return on capital employed (ROCE), Krones expects an increase to between 15% and 17%.

Key figures for Q1–Q3 2023		1 Jan–30 Sep 2023	1 Jan–30 Sep 2022	Change
Revenue	€million	3,485.6	3,043.7	+14.5%
Order intake	€million	4,113.6	4,599.7	–10.6%
Order backlog at 30 Sep	€million	4,094.4	3,499.0	+18.7%
EBITDA	€million	332.3	270.1	+23.0%
EBITDA margin	%	9.5	8.9	+0.6 PP*
EBIT	€million	217.9	168.4	+29.4%
EBT	€million	235.4	176.6	+33.3%
EBT margin	%	6.8	5.8	+1.0 PP*
Consolidated net income	€million	175.7	128.3	+36.9%
Earnings per share	€	5.56	4.06	+36.9%
Capital expenditure for PP&E and
intangible assets	€million	87.7	84.8	+ €2.9 million
Free cash flow	€million	–280.6		132.3 – €412.9 million
Net cash at 30 Sep**	€million	284.8		440.9 – €156.1million
ROCE	%	17.0	12.4	+4.6 PP*
Working capital to revenue***	%	17.3	20.5	–3.2 PP*
Employees at 30 Sep
Worldwide		18,258	16,795	+1,463
Germany		10,553	10,012	+541
Outside Germany		7,705	6,783	+922

* PP = percentage points ** Cash and cash equivalents less bank debt *** Average of last 4 quarters

Key figures for Q3 2023		1 Jul – 30 Sep 2023	1 Jul – 30 Sep 2022	Change
Revenue	€million	1,164.7	1,058.9	+10.0%
Order intake	€million	1,327.7	1,443.1	–11.1%
EBITDA	€million	110.9	95.0	+16.7%
EBITDA margin	%	9.5	9.0	+0.5 PP*
EBIT	€million	74.8	60.3	+24.0%
EBT	€million	74.3	63.4	+17.2%
EBT margin	%	6.4	6.0	+0.4 PP*
Consolidated net income	€million	54.3	45.1	+20.4%
Earnings per share	€	1.72	1.43	+20.3%

¹ | 5 Letter from the Executive Board

Dear shareholders and friends of Krones,

After a successful first half of the year, the third quarter of 2023 also went well for Krones. Customers in the international food and beverage industry continue to be very keen to invest. This underscores the fact that our sales markets, and with them Krones itself, are robust to economic cycles.

The global environment remains challenging. This is demonstrated by the latest geopolitical conflicts, which could have a negative impact on the global economy at any time. The experts at the International Monetary Fund (imf) forecast relatively low global economic growth of 3.0% this year and 2.9%in 2024. Both figures are well below the global average growth rate of 3.8%(2000 to 2019).

Krones' third-quarter order intake was up on the previous quarter, reaching the very good level of €1.33 billion. We expect order intake to remain at a high level in the coming quarters. Our order backlog exceeded the €4 billion mark and stood at €4.09 billion at the end of September. This huge order backlog gives us planning certainty through to 2025, even with the expected increase in capacity utilisation in plant and project business. Revenue also developed very positively. From January to September, revenue went up by 14.5% year on year to €3,485.6 million. At the same time, under difficult conditions, we improved our EBITDA margin to 9.5% (9M 2022: 8.9%).

Alongside the good business results, we also had to deal with one less pleasing news item in the past quarter. At the beginning of September, Deutsche Börse informed us that our shares would be removed from the dax index family with effect from 18 September (see "The Krones share", p. 7). After we had prepared the way back to the dax index family as quickly as possible, our shares have been listed in the sdax since 9 October.

All in all, Krones is well on the way not only to achieving its targets for 2023, but also to continuing profitable growth in the future. Firstly, the food and beverage market is growing more steadily than the global economy. And secondly, Krones benefits from a large global footprint, a balanced international customer base and an innovative and future-oriented product and service portfolio. The company is aided in this by our target picture, "Solutions beyond tomorrow". This provides Krones with support and orientation in order to shape a successful future in a challenging environment. All Krones employees are working with competence and high motivation to make our vision a reality: Sustainable and affordable beverages, food and essentials for everyone and everywhere.

Christoph Klenk CEO

The Krones share

Stock markets under pressure in third quarter of 2023

After a good first half of the year, the third quarter of 2023 did not go very well for the equity markets. This was mainly due to developments on the bond markets. Long-term interest rates rose sharply in both the US and Europe between July and September 2023. The weak economic outlook also meant that investors had little appetite to buy. As a result, the price gains made in the first half of 2023 melted away in the third quarter. Stock markets rallied strongly in the first six months of the year, largely on hopes of an early end to the central banks' cycle of interest rate hikes and an easing of inflation concerns. Interest rate expectations continued to boost equity markets at the beginning of the third quarter. The dax reached an all-time high of 16,529 points on 31 July.

After that, share prices went steeply downhill. The German benchmark index reached its lowest level in the third quarter at 15,139 points on 28 September. Overall, the DAX fell by 4.7% between July and September 2023, closing the quarter at 15,387 points. This was still 10.5% higher than at the beginning of the year.

Krones share data	Q1–Q3 2023	Q1–Q3 2022
Earnings per share (€)	5.56	4.06
High (€)	120.30	99.25
Low (€)	93.20	67.50
Price at 30 September (€)	97.55	90.65
Market capitalisation at 30 September (€ billion)	3.08	2.86

Share price data: Closing price (Xetra)

Krones share price likewise under pressure between July and September

After slight gains of 3.5% and 2.2% in the first two quarters of 2023, the Krones share price fell in the third quarter, as did many important stock market indices. From July to September, it lost 12.2% in value, which is more than the MDAX (down 5.6%) and the SDAX (down 3.9%).

Krones shares lost an above-average 12.2% in the third quarter of 2023, leaving the shares 7.1% down over the first nine months of the year. The SDAX rose by 8.0% in the first three quarters and the MDAX by 3.8%.

1 | 6

A decline in the share price in early July was followed by a sharp rise after Krones raised its full-year revenue guidance for 2023 on 17 July. Supported by positive analyst comments, our shares then reached their high point for the third quarter at €112.60 on 19 July. Following the publication of very strong half-year results on 1 August, the share price fell in accordance with the investor maxim of "sell on good news". In the weeks that followed, the share price fell slightly, with fluctuations, in line with the overall market. The Krones share price marked its lowest level since the beginning of the year at €93.20 on 20 September before recovering towards the end of the quarter.

Perfomance Q1–Q3 2023 Krones share: –12.2% SDAX: –3.9% MDAX: –5.6%

1 | 7

On 30 September, Krones shares were quoted at €97.55, down 7.1% on the start of the year. Including the dividend of €1.75 per share paid out in May, the Krones share price lost 5.4% in value over the first nine months of 2023 – following a strong outperformance in 2022 (a gain of 9.5%). The SDAX, in which Krones was listed until 18 June, gained 8.0% in the same period (performance in 2022: down 27.3%); the MDAX gained 3.8% (performance in 2022: down 28.5%).

Krones shares drop out of the MDAX and are listed in the SDAX from October

After being promoted to the MDAX index on 19 June 2023, Krones shares briefly left the DAX index family altogether on 18 September 2023. This was due to the fact that the company temporarily no longer met a basic criterion for index membership. In response, Krones took immediate action to regain a place in the Deutsche Börse index ranking list and to return to the DAX index family as swiftly as possible.

Krones once again met all basic criteria for a return to the DAX index family from mid-September and was incorporated into the SDAX in an unscheduled index adjustment with effect from 9 October 2023.

For further information on Krones shares, please see the Krones website: https://www.krones.com/en/company/investor-relations/share.php

Key data for the Krones share

Number of shares	31,593,072
German securities identification number	633500
ISIN	DE0006335003
XETRA ticker symbol	KRN

Revenue 9
Order intake	11
Order backlog 12
Earnings 13
Statement of cash flows	17
Assets and capital structure 19
Report from the segments	21
Employees 24
Report on expected developments	25

position, and results of operations Revenue

Revenue 2 | 9

Krones continues on stable growth track

In the first three quarters of 2023, Krones' revenue climbed by 14.5% year on year to €3,485.6 million.

Capacity utilisation at Krones improved slightly in the third quarter of 2023 compared to the previous quarter but remained below the maximum capacity. Due to the tight situation on procurement mar-

statements

kets, especially for electrical components, production conditions in the third quarter were challenging overall. Thanks to the high flexibility and creativity of its employees, however, Krones was able to continue its stable growth. Revenue from July to September 2023 was up 10.0% year on year, rising from

€1,058.9 million to €1,164.7 million. In total over the first three quarters of 2023, revenue thus grew by 14.5%, from €3,043.7 million a year earlier to €3,485.6 million. Volume effects contributed more to revenue growth than price increases. Revenue was not materially affected by exchange rates, acquisitions or divestments in the first nine months of 2023.

Revenue from sales of new machinery increased more strongly in the reporting period than service revenue. This is mainly due the very high demand for our machines and lines in recent quarters. After the first nine months, Krones firmly expects to achieve its growth target of 11% to 13% for the full year 2023.

Revenue from 1 Jan to 30 Sep (€ million) Revenue in Q3 (€ million) 2019 2,889.7 2021 2019 1,000.4 2020 750.4 500 1,000 1,500 2,000 2,500 3,000 3,500 2020 2,449.0 2021 2,643.0 922.9 2022 2022 3,043.7 1,058.9 2023 2023 3,485.6 1,164.7

Revenue by segment from 1 Jan to 30 Sep 2023 Revenue by segment from 1 Jan to 30 Sep 2022

position, and results of operations Revenue

statements

2 | 10 Revenue by region

Its internationally balanced customer and revenue mix is one of Krones' strategic strengths. The company generated 45.3% of consolidated revenue in emerging markets in the first three quarters (previous year: 45.9%). The share of revenue generated in mature industrialised countries was 54.7% (previous year: 54.1%).

Revenue in Germany increased by slightly less than total revenue between January and September 2023, rising by 10.3% to €335.9 million (previous year: €304.6 million). As a percentage of consolidated revenue in the first nine months, this represented a decrease from 10.0% a year earlier to 9.6%.

Krones generated almost 90% of revenue internationally in the first nine months 2022.

Following a very strong first half year, business in the large Western Europe sales region calmed slightly in the third quarter. In total from January to September 2023, revenue there rose to €490.9 million, an increase of 9.0% on the already very high prior-year figure (€450.3 million). Krones' revenue in Eastern Europe also went up in the reporting period. Revenue there increased by 13.1% to €135.9 million (previous year: €120.2 million). Conversely, there was a reduction in revenue in Central Europe (Austria, Switzerland and the Netherlands). In that region, revenue decreased by 24.7% relative to the prior-year period (€225.4 million), to €169.7 million. Overall, Krones' revenue in Europe (excluding Germany) showed virtually no change in the first three quarters of 2023 compared to the previous year's period, at €796.5 million (previous year: €795.9 million). The share of consolidated revenue in the reporting period thus decreased to 22.9% (previous year: 26.1%).

The Central Asia region now has only a very minor influence on the Krones Group's business. Revenue decreased there in the first nine months of 2023 by 30.6% to €27.4 million (previous year: €39.5 million). Its share of Group revenue was consequently just 0.8%.

After a strong first half year, Krones' non-European markets continued to perform very well overall in the third quarter of 2023. In total, revenue between January and September rose there by 22.2% year on year to €2,325.8 million (previous year: €1,903.7 million), a significantly stronger increase than Group revenue. Business was extremely dynamic in North and Central America, South America/Mexico and Asia-Pacific. In North and Central America, revenue in the first three quarters totalled €908.5 million, exceeding the previous year's already very high figure (€665.1 million) by 36.6%. Revenue in South America/Mexico rose similarly strongly, increasing by 34.1% from €265.4 million to €355.9 million. South America benefited here from catch-up effects. Markets in the Asia/Pacific region are still noticeably recovering from the effects of the coronavirus pandemic. There, revenue improved by 39.3% to €481.6 million in the reporting period (previous year: €345.7 million).

Revenue in China and the Middle East/Africa was slightly down in the first three quarters of 2023. In China, revenue fell by 5.8%, from €262.3 million to €247.2 million. It should be noted, however, that

Quarterly revenue figures for the various regions are generally not very meaningful because orders and revenue can fluctuate significantly from one quarter to the next.

revenue in China increased strongly in the previous year's period. In the Middle East/Africa, the revenue of €332.6 million in the reporting period was 8.9% down on the previous year (€365.2 million).

Krones Group revenue by region

Share of consolidated revenue	1 Jan to 30 Sep 2023		1 Jan to 30 Sep 2022		Change
	€ million		% € million	%	%
Germany	335.9	9.6	304.6	10.0	+10.3
Central Europe (excluding Germany)	169.7	4.9	225.4	7.4	–24.7
Western Europe	490.9	14.1	450.3	14.8	+9.0
Eastern Europe	135.9	3.9	120.2	3.9	+13.1
Central Asia	27.4	0.8	39.5	1.3	–30.6
Middle East/Africa	332.6	9.5	365.2	12.0	–8.9
Asia-Pacific	481.6	13.8	345.7	11.4	+39.3
China	247.2	7.1	262.3	8.6	–5.8
South America/Mexico	355.9	10.3	265.4	8.8	+34.1
North and Central America	908.5	26.1	665.1	21.8	+36.6
Total			3,485.6 100.0 3,043.7 100.0		+14.5

Order intake 2 | 11

Order intake up in third quarter compared to previous quarter

Krones' order intake remains at a very high level following the extremely strong order intake in the previous year.

Order intake from 1 Jan to 30 Sep (€ million)

Although the overall economic outlook has clouded over, our international customers in the food and beverage industry continue to show a willingness to invest and high levels of market activity. This

statements

reflects Krones' low cyclical sensitivity. In the third quarter of 2023, order intake improved by 4.3% on the previous quarter to €1,327.7 million (Q3 2022: 1,493.3 million). Krones received €4,113.6 million in new orders between January and September 2023 (previous year: €4,599.7 million). Exchange rates, acquisitions and divestments did not have a material impact on the contract value of orders in the reporting period.

Our price increases did not affect customers' willingness to invest. The continued high demand reflects in part the good standing we enjoy with customers for our reliable project execution. We are also benefiting from our broad and innovative product and service portfolio.

Regionally, order intake in China and Asia/Pacific developed best, with growth in the first three quarters of 2023. Order intake in Europe, North and Central America and South America improved similarly in the reporting period to that for the entire Group. In the Eastern Europe and Middle East/Africa regions, order intake developed below the level of the Krones Group.

Order intake in Q3 (€ million)

position, and results of operations Order backlog

² | 12 Order backlog

Krones' order backlog exceeds the €4 billion mark

The very large order backlog gives Krones planning security.

Thanks to the strong demand, Krones' order backlog increased in the third quarter despite the increasing revenue. The book-to-bill ratio in the third quarter was

statements

1.14. At the end of September 2023, Krones' order backlog totalled €4,094.4 million. The order backlog was thus 18.7% up on the previous year's already very high level (€3,449.0 million). Compared to the beginning of 2023, the increase is 18.1%. Krones will end the 2023 financial year with a very large order backlog. This comfortable order backlog provides the company with additional planning certainty and ensures production capacity utilisation in plant and project business through to 2025.

Order backlog at 30 Sep (€ million)

position, and results of operations Earnings

statements

Earnings 2 | 13

Significant increase in Krones' profitability

Despite a shortage of electrical components, higher procurement prices and changes in the product mix, Krones significantly improved profitability in the third quarter of 2023 compared to the previous year. As in the first half of the year, this is largely due to the company's flexibility. In addition, we were able to offset rising material and personnel costs through our price increases.

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 16.7% year on year to €110.9 million in the third quarter of 2023. As a result, the EBITDA margin improved from 9.0% in the previous year to 9.5%. Earnings before taxes (EBT) climbed by 17.2% to €74.3 million. On the bottom line, Krones generated consolidated net income of €54.3 million in the third quarter of 2023, up 20.4% year on year. This corresponds to earnings per share of €1.72 (previous year: €1.43).

Between January and September 2023, EBITDA increased by 23.0% year on year, from €270.1 million to €332.3 million. The EBITDA margin rose in the first three quarters from 8.9% to 9.5%. Following the successful first nine months, Krones confirms its EBITDA margin forecast of 9% to 10% for the full year 2023.

Krones generated an EBITDA margin of 9.5% in the first three quarters of 2023. The income statement was not materially affected in the reporting period by exchange rates, acquisitions or divestments.

As a result of the higher financial income, EBT (earnings before taxes) rose significantly more strongly than EBITDA in the reporting period, increasing by 33.3% to €235.4 million. The EBT margin improved accordingly from 5.8% to 6.8%. Krones' consolidated net income for the first three quarters of 2023 came to €175.7 million, 36.9% higher than in the previous year (€128.3 million). Earnings per share rose from €4.06 to €5.56.

statements position, and results

of operations Earnings

Earnings structure

2 | 14

€ million	2023 1 Jan–30 Sep	2022 1 Jan–30 Sep	Change %
Revenue	3,485.6	3,043.7	+14.5
Changes in inventories of finished goods and work in progress	2.6	18.5	–
Total operating performance	3,488.2	3,062.2	+13.9
Goods and services purchased	–1,763.3	–1,518.8	+16.1
Personnel expenses	–1,034.5	–916.7	+12.9
Other operating income/expenses and own work capitalised	–358.1	–356.6	+0.4
EBITDA	332.3	270.1	+23.0
Depreciation and amortisation on fixed assets	–114.4	–101.7	+12.5
EBIT	217.9	168.4	+29.4
Financial income/expense	17.5	8.2	–
EBT	235.4	176.6	+33.3
Income tax	–59.7	–48.3	+23.6
Consolidated net income	175.7	128.3	+36.9

Krones significantly increased revenue and total operating performance in the first three quarters of 2023, despite the tight situation on procurement markets, especially for electrical components. Thanks to the great flexibility and creativity of our workforce, the company increased revenue by 14.5% to €3,485.6 million compared to the same period of the previous year, which was still slightly affected by the Covid pandemic. Higher selling prices also contributed to the revenue growth. Total operating performance rose almost in step with revenue, increasing 13.9% to €3,488.2 million. The slightly smaller increase is due to lower additions to finished goods and work in progress. These grew by €2.6 million in the reporting period, compared to €18.5 million in the prior-year period.

of operations Earnings

2 | 15

Goods and services purchased from 1 Jan to 30 Sep (€ million) and material expense ratio (%)

	1,763.3
1,800
		1,488.3			1,518.8
1,500				1,323.4
			1,182.9
1,200
900	51.3	48.2	49.7	49.6	50.6		60 %
600							40 %
300							20 %
0		2019	2020	2021	2022	2023

Despite higher material and freight costs, Krones improved the EBITDA margin from 8.9% to 9.5% in the first nine months of 2023. The income statement was not materially affected in the reporting period by exchange rates, acquisitions or divestments.

Cost of goods and services purchased increased by 16.1% to €1,763.3 million between January and September 2023, more than the rise in total operating performance. This was partly due to the increased share of revenue accounted for by the new machinery business, which is significantly

more material-intensive than the service business. Krones was able to offset higher material procurement prices in the reporting period through intelligent production and procurement management and through the implemented price increases. The material expense ratio – the ratio of goods and services purchased to total operating performance – climbed to 50.6% (previous year: 49.6%).

Personnel expenses rose by slightly less than total operating performance in the reporting period, with an increase of 12.9% to €1,034.5 million. The person-

Personnel expenses from 1 Jan to 30 Sep (€ million) and personnel expense ratio (%)

nel expense ratio – the ratio of personnel expenses to total operating performance – went down slightly as a result from 29.9% to 29.7% in the first three quarters of 2023 and was thus close to the level for the full year 2022 (29.8%).

At €520.5 million, other operating expenses were only 5.8% higher in the reporting period than in the previous year. The increase was partly due to higher freight and travel expenses because of the greater volume of business. Other operating income went up by 26.2% to €131.1 million. Both other operating expenses and other operating income were influenced by currency effects, although these almost cancelled each other out. Own work capitalised was stable at €31.3 million (previous year: €31.4 million). The net balance of other operating income and expenses and own work capitalised changed only slightly, from –€356.6 million in the prior-year period to –€358.1 million in the reporting period. As a percentage of total operating performance, this represents a reduction from 11.6% to 10.3%.

Material expense ratio: 50.6% Personnel expense ratio: 29.7%

of operations Earnings

gains from adjustments of contingent purchase price payments. These gains are reflected in financial income, which increased significantly to €17.5 million (previous year: €8.2 million). The measurement adjustments had no overall effect on earnings before taxes (EBT). EBT increased in the first three quarters of 2023 by 33.3% to €235.4 million. The EBT margin increased from 5.8% in the previous year to 6.8%. As the company's tax rate of 25.4% from January to September was lower than in the previous year (27.4%), consolidated net income improved by 36.9% to €175.7 million (previous year: €128.3 million).

statements position, and results

of operations

Consolidated cash flow

² | 17 Statement of cash flows

€ million	2023	2022
	1 Jan–30 Sep	1 Jan–30 Sep
Earnings before taxes	235.3	176.6
Other non-cash changes	+121.8	+147.8
Changes in working capital	–343.7	–73.2
Changes in other assets and liabilities	–117.9	–63.2
Cash flow from operating activities	–104.5	188.0
Capital expenditure for PP&E and intangible assets	–87.7	–84.8
Other	+26.1	+29.1
Free cash flow without m&a	–166.1	+132.3
M&A activities	–114.5	±0.0
Free cash flow reported	–280.6	132.3
Cash flow from financing activities	–83.3	–70.0
Other	–21.8	+0.3
Net change in cash and cash equivalents	–385.7	+62.6
Cash and cash equivalents at the end of the period	288.8	446.0

As expected, Krones' cash flow from operating activities from January to September fell from the very high prior-year figure of €188.0 million to −€104.5 million. The main reason for the decline of €293.4 million was the considerably larger increase in working capital by €343.7 million (previous year: €73.2 million). Changes in other assets and liabilities also had a negative impact on cash flow. This amounted to −€118.8 million (previous year: −€63.2 million). In addition to the €58.7 million increase in earnings before taxes, non-cash changes also made a positive contribution to cash flow from operating activities. At €121.8 million, however, this was smaller in the reporting period than the €147.8 million recorded in the previous year.

Free cash flow as expected significantly below the high level of the previous year

As planned, Krones increased capital expenditure on property, plant and equipment and intangible assets to €87.7 million in the reporting period (previous year: €84.8 million). The company had an additional €114.5 million cash outflow in the period from January to September due to the acquisition of Ampco Pumps. Free cash flow (net cash generated from operating activities)

As expected, the sharp increase in working capital due to the high volume of business led to a decline in cash flow from operating activities and free cash flow in the reporting period..

position, and results of operations Consolidated cash flow

statements

decreased by €412.9 million to −€280.6 million (previous year: +€132.3 million). Excluding M&A activities, free cash flow decreased by €298.4 million to −€166.1 million. The main reason for the expected significant decline in free cash flow in the reporting period was the sharp increase in working capital due to the high business volume.

The cash outflow from financing activities, at €83.3 million, increased in the first three quarters of 2023 relative to the previous year (€70.0 million). In the reporting period, this item included the cash outflow from the dividend payout of €55.3 million (previous year: €44.2 million), the repayment of lease liabilities in the amount of €27.0 million (previous year: €25.8 million) and the repayment of bank debt in the amount of €1.0 million (previous year: €0.0 million). Krones had cash and cash equivalents totalling €288.8 million at 30 September 2023 (previous year: €446.0 million).

Working capital to revenue from 1 Jan to 30 Sep (%, average over four quarters)

Ratio of working capital to revenue improved to 17.3%

Krones increased working capital by a substantial €343.7 million in the reporting period. A slight reduction in trade receivables was offset by a disproportionately large increase in contract assets, higher inventories, lower advances received and lower trade payables.

Despite the sharp increase in working capital in the reporting period, Krones has significantly improved average working capital over the past four quarters as a percentage of revenue. This fell from 20.5% in the previous year to 17.3%.

Krones nevertheless improved average working capital over the past four quarters as a percentage of revenue to 17.3% (previous year: 20.5%). The working capital to revenue ratio was 20.2% as of the 30 September reporting date (previous year: 19.9%).

2 | 18

statements position, and results

Balance sheet structure

of operations

² | 19 Assets and capital structure

€ million		30 Sep 2023 31 Dec 2022 30 Sep 2022 31 Dec 2021
Non-current assets	1,287	1,164	1,137	1,133
of which fixed assets	1,184	1,064	1,010	1,001
Current assets	2,949	3,007	2,663	2,362
of which cash and equivalents	289	675	446	383
Equity	1,684	1,598	1,548	1,392
Total debt	2,552	2,573	2,252	2,103
Non-current liabilities	373	375	370	434
Current liabilities	2,179	2,198	1,882	1,669
Total	4,236	4,171	3,800	3,495

Despite the increased business volume, Krones' total assets increased by just 1.6% in the first three quarters, a significantly smaller increase than the rise in total operating performance (13.9%).

Krones' total assets remained virtually unchanged in the reporting period, rising by just 1.6%, a significantly smaller increase than the rise in total operating performance (+13.9%). Total assets came to €4,236.3 million as of 30 September 2023 (31 December 2022: €4,171.2 million).

Non-current assets rose between January and September to €1,287.3 million (31 December 2022: €1,164.2 million), as fixed assets increased to €1,184.0 million (31 December 2022: €1,064.0 million). The increase in fixed assets related to intangible assets. These climbed from €349.3 million at the end of 2022 to €460.2 million. This was mainly due to the acquisition and initial consolidation of the US company Ampco Pumps as of 1 June 2023. At €701.6 million, property, plant and equipment and right-of-use assets were at the same level at 30 September as at the 2022 year-end (€693.7 million).

Cash and cash equivalents at 30 Sep (€ million)

Krones' current assets were slightly down in the reporting period. Current assets came to €2,949.0 million as of 30 September, which is 1.9% or €58.0 million lower than the figure as of 31 December 2022. The main reason for this was the decline in cash and cash equivalents. These decreased from €674.5 million to €288.8 million due to the negative free cash flow and the payment of the purchase price for Ampco Pumps. Krones also reduced trade receivables. These fell by €33.7 million to €786.6 million. Conversely, there was an increase in contract assets and inventories because of the substantial growth in business volume. Contract assets went up between January and September by €260.0 million to €987.6 million and inventories by €77.8 million to €667.2 million.

There were only minor changes on the equity and liabilities side of Krones' statement of financial position between January and September 2023. Current liabilities decreased by 0.9% to €2,178.8 million. This was mainly due to a reduction in contract liabilities by €4.4 million to €897.0 million. That reduction mainly reflected the lower prepayments from customers compared to the pre position, and results of operations Balance sheet structure

statements

vious year. Krones reduced trade payables in the reporting period by €20.2 million to €664.0 million. Other liabilities and provisions were likewise down, at €379.1 million (31 December 2022: €391.9 million). As of the end of September 2023, the company had short-term bank debt totalling €1.2 million (31 December 2022: €0.0 million).

Non-current liabilities were virtually unchanged as of 30 September 2023. This stood at €373.3 million (31 December 2022: €374.8 million). The largest item, provisions for pensions, increased slightly to €167.6 million (31 December 2022: €166.6 million). Other financial liabilities and lease liabilities decreased by €6.9 million to €102.0 million. At the end of the reporting period, Krones had €2.8 million in non-current bank debt (31 December 2022: €5.0 million).

There were no material exchange rate or divestment effects in the reporting period on any assets side or equity and liabilities side items of the statement of financial position. The acquisition of Ampco Pumps mainly affected non-current assets and cash and cash equivalents.

Equity ratio at 30 Sep (%) 0 10 20 35 40 50 2019 40.8 2020 41.7 2021 38.3 2022 40.8 2023 39.8 Net cash: €284.4 million Equity ratio: 39.8%

Significant increases in equity and ROCe

Mainly due to the positive consolidated net income for the first nine months – and despite the €55.3 million dividend distribution in the second quarter – Krones increased its equity relative to the 2022 reThe solid 39.8% equity ratio and €284.8 million in net cash provide a stable basis for further profitable growth at Krones.

porting date to €1,684.2 million (31 December 2022: €1,598.1 million). The equity ratio improved because of the only slight increase in total assets and came to 39.8% as of 30 September 2023 (31 December 2022: 38.3%). With net cash (cash and cash equivalents less bank debt) of €284.8 million at the end of the reporting period, Krones continues to have a very stable and solid financial and capital structure. In addition, the group had approximately €860 million in unused lines of credit as of 30 September 2023.

Krones significantly improved return on capital employed (ROCE) – the ratio of EBIT to average net capital employed over the last four quarters – from 12.4% to 17.0% in the reporting period, mainly as a result of the higher EBIT.

2 | 20

statements

Report from the segments 2 | 21

Filling and Packaging Technology

Segment revenue

Our core Filling and Packaging Technology segment showed stable growth in the first three quarters of 2023. Revenue went up by 12.9% year on year, from €2,551.4 million to €2,880.8 million. Tight supplies Despite challenging production conditions, revenue in Krones' core segment increased by 12.9% in the first three quarters of 2023.

of electrical components affected the efficiency of our production processes. Krones nevertheless achieved a good output level in the reporting period through successful production and procurement management and the creativity of the workforce. New machinery business increased more strongly than total revenue. We are confident that we will achieve the segment's full-year 2023 growth target of 10% to 12%. The core segment's share of consolidated revenue in the first three quarters was 82.7% (previous year: 83.8%).

Segment revenue (€ million) from 1 Jan to 30 Sep

3,000		2,880.8
		2,551.4
2,500	2,216.3
2,000
1,500
1,000
500
0	2021	2022	2023

Segment earnings

Profitability in Filling and Packaging Technology improved significantly during the reporting period, despite the difficult production conditions and a larger share of new machinery business in revenue. The flexibility of the entire Krones team contributed signifi-

At 10.3%, the core segment generated a significantly higher EBITDA margin in the first nine months of 2023 than in the previous year (9.6%).

5

cantly here. In addition, we were able to offset increases in the costs of materials and personnel with price increases for our products. From January to September 2023, EBITDA (earnings before interest, taxes, depreciation and amortisation) increased by 20.6% year on year, from €244.9 million to €295.4 million. The EBITDA margin rose to 10.3% (previous year: 9.6%). Krones also expects a good fourth quarter for the core segment and confirms the EBITDA margin target of 9% to 11% for the full year 2023.

50 100 150 200 250 300 10 15 202.3 244.9 9.1 % 9.6 % 295.4 10.3 %

0 2021 EBITDA-Marge

2023

2022

Segment EBITDA (€ million) and EBITDA margin (%) from 1 Jan to 30 Sep

statements position, and results of operations

Process Technology

Segment revenue

At the end of the first nine months, Process Technology is well on track to achieve its growth target of 20% to 25% for the full year 2023.

In the Process Technology segment, revenue in the first nine months of 2023 grew by 26.7% year on year, from €267.0 million to €338.4 million. The acquisition of Ampco Pumps as of 1 June 2023 contributed only marginally to the increase in revenue. The share of

consolidated revenue accounted for by the segment rose from 8.8% in the previous year to 9.7% in the first three quarters. With regard to revenue performance in Process Technology, it should be noted in general that fluctuations during the course of the year are not unusual in project-based business. Krones' forecast for revenue growth in the full year 2023 is unaltered at 20% to 25%.

Report from the segments

Segment earnings

Earnings in the Process Technology segment developed well in the first nine months of 2023. EBITDA (earnings before interest, taxes, depreciation and amortisation) rose from €14.8 million in the previous year to €23.7 million. The EBITDA margin thus

Krones has lastingly improved profitability in the Process Technology segment. In the first nine months of 2023, the EBITDA margin was 7.0% (previous year: 5.5%).

improved to 7.0% (previous year: 5.5%). The acquisition of Ampco Pumps, which Krones included in the consolidated financial statements for the first time as of 1 June 2023, did not materially affect earnings in the first three quarters. The significantly higher profitability partly reflects good production capacity utilisation in the reporting period. Spinning off the brewery business into a separate company and adapting the processes to the project business have also had a sustained positive impact on profitability. After the first three quarters, we confirm our margin target of 6% to 7% for the full year 2023.

2 | 22

of operations Report from the segments

Intralogistics

2 | 23

Segment revenue

The Intralogistics segment recorded strong revenue growth of 18.2% in the first three quarters of 2023.

As predicted after the very strong first half of 2023, business in the Intralogistics segment was calmer in the third quarter. The revenue of €266.4 million from January to September exceeded the previous year's

figure (€225.3 million) by a total of 18.2%. This puts us well on track to achieve the growth target of 10% to 15% for the full year 2023. Krones Intralogistics also has good growth prospects for the medium to long term. The segment benefits from growing demand for innovative automation solutions. It contributed 7.6% to consolidated revenue in the reporting period (previous year: 7.4%).

Segment earnings

EBITDA (earnings before interest, taxes, depreciation and amortisation) in Intralogistics totalled €13.3 million in the first nine months of 2023, which was significantly higher than in the previous year (€10.4 million). This corresponds to an improved EBITDA margin of 5.0% (previous year: 4.6%). The

Segment EBITDA (€ million) and EBITDA margin (%) from 1 Jan to 30 Sep

At €13.3 million in the first nine months of 2023, EBITDA significantly exceeded the previous year's figure of €10.4 million. Krones confirms the margin target of 6% to 7% for the full year 2023.

earnings contribution in the third quarter was lower than in the first two quarters due to seasonal factors. Likewise due to seasonal factors, Intralogistics has a higher profitability in the fourth quarter. We are therefore confident that we will achieve the EBITDA margin target of 6% to 7% for the full year 2023.

2021 191.5 80 40 0 120 160 200 240 280 2022 225.3 2023 266.4 4 2 6 8 5.0 2.5 10 12 14 2021 EBITDA-Marge 4.8 2.5 % 2022 10.4 4.6 % 2023 13.3 5.0 %

Segment revenue (€ million) from 1 Jan to 30 Sep

position, and results of operations

statements

Employees

² | 24 Employees

Employees			Employees worldwide at 30 September
in Germany:	10,553					18,258
Employees outside		16,839 17,405
Germany:	7,705	17,500		16,180	16,795
Trainees:	433
		15,000
		12,500
		10,000
		7,500
		5,000
		2,500
			2019	2020 2021	2022 2023

Krones employs 18,258 people worldwide

Krones increased the number of employees between January and September 2023, above all internationally. This primarily reflects the dynamic recovery of our international markets.

Krones' workforce increased by 1,463 employees year on year to 18,258 employees as of 30 September 2023. Compared to 31 December 2022, the number of employees worldwide climbed by 1,094. Most of the increase over the first nine months of 2023 was in the international workforce, which grew by 671

to 7,705 (31 December 2022: 7,034). The number of people employed in Germany rose to 10,553 (31 December 2022: 10,130). The company mainly increased the workforce in service and IT and at the plant in Hungary. Moreover, the acquisition of the US company Ampco Pumps is reflected in the second quarter of 2023 with around 140 additional employees.

To ensure a sufficient pool of qualified and motivated employees for the long term, we continue to invest heavily in training and employee development. The Krones Group had 433 young people in training as of 30 September 2023 (previous year: 446).

position, and results of operations Report on expected developments

statements

Report on expected developments 2 | 25

Krones confirms full-year targets for 2023

The company came well through the first nine months of 2023, despite continuing uncertainty in the economic environment. Our markets continued their stable growth, which is hardly affected by economic cycles. Demand for Krones' products and services remains strong. Krones' total operating performance developed well in the third quarter of 2023, despite the tight supply of electrical components. This is due to the great dedication, flexibility and creativity of the company's workforce.

At the same time, business conditions remain challenging for Krones due to various unpredictable factors that could affect the company's business processes and production. These include geopolitical risks in Europe, the Middle East and other parts of the world, as well as high inflation and interest rates in many countries. Material shortages and problems in global supply chains also remain a source of uncertainty. However, we expect that the situation on the procurement markets relevant to Krones, especially for electrical components, should ease from the fourth quarter of 2023.

Krones Group
	Guidance for 2023	Actual 9m 2023
Revenue growth	11–13%	14.5%
EBiTda margin	9–10%	9.5%
ROCE	15–17%	17.0%

Krones is highly confident of meeting the full-year financial targets for 2023. The company forecasts revenue growth of 11% to 13% this year. In addition, the company aims to further improve profitability and plans an EBITDA margin of 9% to 10% for the group in 2023. For the third performance target, return on capital employed (ROCE), Krones expects an increase this year to between 15% and 17%.

Krones segments

Segment Filling and Packaging Technology

	Guidance for 2023	Actual 9m 2023
Revenue growth	10–12%	12.9%
EBiTda margin	9–11%	10.3%

Segment Process Technology
	Guidance for 2023	Actual 9m 2023
Revenue growth	20–25%	26.7%
EBiTda margin	6–7%	7.0%

Segment Intralogistics
	Guidance for 2023	Actual 9m 2023
Revenue growth	10–15%	18.2%
EBiTda margin	6– 7%	5.0%

3 Interim consolidated financial statements for the period ended 30 September 2023

Consolidated statement of profit or loss 27
Consolidated statement of financial position 29
Consolidated statement of cash flows 31
Consolidated segment reporting 32

3 | 27 Consolidated statement of profit or loss from 1 January to 30 September 2023

€ million	2023	2022	Change
	1 January –	1 January –	%
	30 September	30 September
Revenue	3,485.6	3,043.7	+14.5
Changes in inventories of finished goods and work in progress	2.6	18.5
Total operating performance	3,488.2	3,062.2	+13.9
Other own work capitalised	31.3	31.4	–0.3
Other operating income	131.1	103.9	+26.2
Goods and services purchased	–1,763.3	–1,518.8	+16.1
Personnel expenses	–1,034.5	–916.7	+12.9
Other operating expenses	–520.5	–491.9	+5.8
EBITDA	332.3	270.1	+23.0
Depreciation and amortisation of intangible assets and property, plant and equipment	–114.4	–101.7	+12.5
EBIT	217.9	168.4	+29.4
Financial income/expense	17.5	8.2
Profit or loss shares attributable to assiociates that are accounted for using
the equity method	0.0	0.0
Earnings before taxes	235.4	176.6	+33.3
Income tax	–59.7	–48.3	+23.6
Consolidated net income	175.7	128.3	+36.9
Profit share of non-controlling interests	0.0	0.0
Profit share of Krones Group shareholders	175.7	128.3
Earnings per share (diluted/basic) in €	5.56	4.06

Consolidated statement of profit or loss from 1 July to 30 September 2023 3 | 28

€ million	2023	2022	Change
	1 July –	1 July –	%
	30 September	30 September
Revenue	1,164.7	1.058.9	+10.0
Changes in inventories of finished goods and work in progress	5.9	–6.5
Total operating performance	1,170.6	1,052.4	+11.2
Other own work capitalised	12.0	10.8	+11.1
Other operating income	38.8	36.3	+6.9
Goods and services purchased	–617.8	–530.8	+16.4
Personnel expenses	–336.4	–302.0	+11.4
Other operating expenses	–156.3	–171.7	–9.0
EBITDA	110.9	95.0	+16.7
Depreciation and amortisation of intangible assets and property, plant and equipment	–36.1	–34.7	+4.0
EBIT	74.8	60.3	+24.0
Financial income/expense	–0.5	3.1
Profit or loss shares attributable to assiociates that are accounted for using
the equity method	0.0	0.0
Earnings before taxes	74.3	63.4	+17.2
Income tax	–20.0	–18.3	+9.3
Consolidated net income	54.3	45.1	+20.4
Profit share of non-controlling interests	0.0	–0.1
Profit share of Krones Group shareholders	54.3	45.2
Earnings per share (diluted/basic) in €	1.72	1.43

Consolidated statement of financial position – Assets

Consolidated statement of financial position – Assets 3 | 29

€ million	30 September 2023		31 December 2022
Intangible assets	460.2		349.3
Property, plant and equipment and right of use assets	701.6		693.7
Non-current financial assets	19.8		18.6
Investments accounted for using the equity method	2.4		2.4
Fixed assets	1,184.0		1,064.0
Deferred tax assets	59.3		59.9
Trade receivables	35.4		27.0
Tax receivables	2.6		2.0
Other assets	6.0		11.3
Non-current assets		1,287.3		1,164.2
Inventories	667.2		589.4
Trade receivables	786.6		820.3
Contract assets	987.6		727.6
Tax receivables	5.2		5.2
Other assets	213.6		190.0
Cash and cash equivalents	288.8		674.5
Current assets		2,949.0		3,007.0
Total		4,236.3		4,171.2

Consolidated statement of financial position – Equity and liabilities 3 | 30

€ million	30 September 2023		31 December 2022
Equity		1,684.2		1,598.1
Provisions for pensions	167.6		166.6
Deferred tax liabilities	11.9		5.0
Other provisions	79.3		80.3
Tax liabilities	5.1		4.8
Liabilities to banks	2.8		5.0
Trade payables	0.0		0.0
Other financial obligations and lease liabilities	102.0		108.9
Other liabilities	4.6		4.2
Non-current liabilities		373.3		374.8
Other provisions	149.4		162.0
Liabilities to banks	1.2		0.0
Contract liabilities	897.0		901.4
Trade payables	664.0		684.2
Tax liabilities	15.8		20.1
Other financial obligations and lease liabilities	72.3		38.7
Other liabilities and accruals	379.1		391.9
Current liabilities		2,178.8		2,198.3
Total		4,236.3		4,171.2

statements

MANAGEMENT REPORT

Consolidated statement of cash flows

Consolidated statement of cash flows 3 | 31

€ million	2023	2022
	1 Jan – 30 Sep	1 Jan – 30 Sep
Earnings before taxes	235.3	176.6
Depreciation and amortisation	114.4	101.7
Increase in provisions and accruals	14.2	43.5
Interest and similar expenses and income	–13.8	–4.5
Gains and losses from the disposal of fixed assets	–7.2	–0.9
Other non-cash expenses and income	14.2	8.0
Increase in inventories, trade receivables, contract assets and other assets not attributable to investing or financing activities	–374.0	–241.5
Decrease (previous year: increase) in trade payables, contract liabilities and other liabilities not attributable to investing or financing activities	–28.3	150.9
Cash generated from operating activities	–45.3	233.8
Interest paid	–4.9	–1.7
Income tax paid and refunds received	–55.2	–44.1
Cash flow from operating activities	–105.4	188.0
Cash payments to acquire intangible assets	–31.2	–34.9
Proceeds from the disposal of intangible assets	0.1	0.1
Cash payments to acquire property, plant and equipment	–56.5	–49.9
Proceeds from the disposal of property, plant and equipment	11.5	4.7
Cash payments to acquire non-current financial assets and time deposits	–1.9	–0.6
Proceeds from the disposal of non-current financial assets and time deposits	1.3	22.3
Acquisition of a subsidiary, less acquired cash and cash equivalents	–114.5	0.0
Deferred purchase price payment for business acquisitions from previous periods	0.0	–7.0
Interest received	12.3	5.9
Dividends received	3.7	3.7
Cash flow from investing activities	–175.2	–55.7
Cash payments to company owners	–55.3	–44.2
Cash payments from the repayment of lease liabilities	–1.0	0.0
Cash payments from the repayment of financial liabilities	–27.0	–25.8
Cash flow from financing activities	–83.3	–70.0
Net change in cash and cash equivalents	–363.9	62.3
Changes in cash and cash equivalents arising from changes in exchange rates
and from changes in the consolidated group	–21.8	0.3
Cash and cash equivalents at the beginning of the period	674.5	383.4
Cash and cash equivalents at the end of the period	288.8	446.0

Consolidated segment reporting 3 | 32

First nine months € million	Filling and Packaging Technology		Process Technology		Intralogistics		Krones Group
	2023	2022	2023	2022	2023	2022	2023	2022
	1 Jan–30 Sep	1 Jan–30 Sep	1 Jan–30 Sep	1 Jan–30 Sep	1 Jan–30 Sep	1 Jan–30 Sep	1 Jan–30 Sep	1 Jan–30 Sep
Revenue	2,880.8	2,551.4	338.4	267.0	266.4	225.3	3,485.6	3.043.7
EBITDA	295.4	244.9	23.7	14.8	13.3	10.4	332.4	270.1
EBiTda margin	10.3%	9.6%	7.0%	5.5%	5.0%	4.6%	9.5%	8.9%

Third quarter € million	Filling and Packaging Technology		Process Technology		Intralogistics		Krones Group
	2023	2022	2023	2022	2023	2022	2023	2022
	1 Jul–30 Sep	1 Jul–30 Sep	1 Jul–30 Sep	1 Jul–30 Sep	1 Jul–30 Sep	1 Jul–30 Sep	1 Jul–30 Sep	1 Jul–30 Sep
Revenue	953.6	877.5	123.7	93.0	87.4	88.4	1,164.7	1,058.9
EBITDA	98.3	84.4	8.8	5.6	3.9	5.0	111.0	95.0
EBiTda margin	10.3%	9.6%	7.1%	6.0%	4.5%	5.7%	9.5%	9.0%

4	Other InFormation
	Members of the Supervisory Board and the Executive Board 34
	Publication information 35
	Financial calender 35
	Contact 35

and the Executive Board

3 | 34

Members of the Supervisory Board and the Executive Board

Pursuant to Section 8 (1) of the articles of association, eight members of the Supervisory Board are elected by the shareholders inaccordance with the German Stock Corporation Act (Sections 96 (1) and 101). Eight members are elected by the employees pursuant to Section 1 (1) and Section 7 (1) Sentence 1 Number 1 of the Codetermination Act.

Supervisory Board Executive Board

Volker Kronseder

Josef Weitzer** Deputy Chairman of the Supervisory Board

Council

Neutraubling

Norbert Broger Diplom-Kaufmann since 23 May 2023

Nora Diepold

Regensburg

Chief Executive Officer of

NK Immobilienverwaltungs GmbH,

Chairman of Group Works Council Chairman of the Central Works

Chairman of the Works Council

* Bay. Betriebskrankenkassen

Chairman of the Supervisory Board * University Hospital Regensburg * Economic Advisory Board, Bayerische Landesbank Robert Friedmann Spokesman for the central managing board of the Würth Group * ZF Friedrichshafen AG

Oliver Grober**

Chairman of the Works Council, Rosenheim

Thomas Hiltl**

Chairman of the Works Council, Nittenau Markus Hüttner** Deputy Chairman of the Group Works Council Deputy Chairman of the Central Works Council Deputy Chairman of the Works

Council Neutraubling

Professor Dr. jur. Susanne Nonnast Professor at Ostbayerische Technische Hochschule Regensburg

Dr. Verena Di Pasquale** Deputy Chairperson of DGB Bayern (the German Trade Union Confederation in Bavaria)

Beate Eva Maria Pöpperl** Works Council representative (released from all other responsibilities)

Stefan Raith** Head of Business Line, Line Solutions *re-sult AG

Olga Redda**

Second authorised representative and managing director, IG Metall Regensburg * OSRAM Licht AG * OSRAM GmbH * ams Osram International GmbH * Maschinenfabrik Reinhausen GmbH

since 23 May 2023 Norbert Samhammer

Chief executive of Samhammer Holding Gmbh until 23 May 2023

Petra Schadeberg-Herrmann Managing partner Krombacher Brauerei Bernhard Schadeberg GmbH & co. KG, Krombacher Finance GmbH, Schawei GmbH,

Diversum Holding GmbH & Co. KG

until 23 May 2023

WW+KN tax consultancy Managing partner at WW+KN Treuhand GmbH

Jürgen Scholz** First authorised representative IG Metall administrative office, Regensburg * Infineon Technologies ag until 23 May 2023

Stephan Seifert

Chairman of the Executive Board of Körber AG, Hamburg * Board of trustees of the Körber Foundation since 23 May 2023

Hans-Jürgen Thaus * Maschinenfabrik Reinhausen GmbH

Matthias Winkler Managing partner at

Christoph Klenk CEO Uta Anders CFO

Thomas Ricker CsO

Markus Tischer International Operations and Services

Ralf Goldbrunner

Operations

* Other Supervisory Board seats held, pursuant to Section 125 (1) Sentence 5 of the German Stock Corporation Act ** Elected by the employees In addition, each of the group companies is the responsibility of two members of the Executive Board.

Members of the Supervisory Board and the Executive Board

3 | 35 Publishing information Financial calendar

Published by Krones ag		This English language report is a
	Böhmerwaldstrasse 5	translation of the original German
	93073 Neutraubling	Krones Quarterly statement for
	Germany	the period from 1 January to
Project lead Olaf Scholz,	Head of Investor Relations, Treasury and M&A	30 September 2023 (Quartals mitteilung für den Zeitraum vom 1. Januar bis 30. September 2023).
Design	Büro Benseler	In case of discrepancies the German text shall prevail.
Text	Krones ag
	InvestorPress GmbH	You can also find the Quarterly statement in the Investor Relations section at https://www.
		krones.com/en/company/investor

relations/reports.php

21 March 2024	Annual Report as of 31 December 2023
3 May 2024	Quarterly statement as of 31 March 2024
4 June 2024	Annual General Meeting
31 July 2024	Interim Report as of 30 June 2024
	5 November 2024 Quarterly Statement as of 30 September 2024

Contact

Krones ag Investor Relations Olaf Scholz Phone +49 9401 70-1169 E-mail olaf.scholz@krones.com Böhmerwaldstrasse 5 93073 Neutraubling Germany

Krones ag Phone +49 9401 70-0 E-mail info@krones.com Böhmerwaldstrasse 5 93073 Neutraubling Germany