Strong growth in first three quarters
Krones AG | After a successful first half of the year, the third quarter of 2023 also went well for Krones. Although the overall economic outlook has clouded over, the company’s international customers in the food and beverage industry continue to show high levels of market activity and willingness to invest. This reflects the fact that demand for packaged beverages is robust to economic cycles and continues to grow at a steady rate.
Demand for Krones’ products and services remains strong. In the third quarter of 2023, order intake improved by 4.3% on the previous quarter to EUR 1,327.7 million. Order backlog exceeds the EUR 4 billion mark for the first time and, at EUR 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, rising by 14.5% to EUR 3,485.6 million.
Forecasts for the full year 2023 confirmed
Demand for the company’s products and services remains strong. 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.
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, Krones aims to further improve profitability and plans an EBITDA margin of 9% to 10% for the group in 2023 (2022: 8.9%). For the third performance target, ROCE (return on capital employed), Krones expects an increase to between 15% and 17%.