Krones makes a loss in the first half 2009

Last year Krones registered record sales of EUR 2.4 billion and profits of EUR 107 million.

In the first half of 2009, Krones’ pretax result was a loss of EUR 15.5 million.

The cost-cutting initiatives, part of the company’s extensive “Conversion” programme, were already beginning to take their effect in the period under review. The programme’s full effect will be felt as the year proceeds.

Krones refrained to make any full-year forecasts. It believes that the worldwide financial and economic crisis will continue to have a significant effect on the firm’s sales and results.

With its extensive “Conversion” package of initiatives, the company hopes to compensate a drop in sales of more than 20 percent.

Still, Krones expects to book a loss in its 2009 financial year.