Krones Conference Call 1st HY 2021
Krones First Half Year 2021
Conference Call 03 August 2021
Christoph Klenk, CEO
Norbert Broger, CFO
Krones 1st HY 2021
After a strong second quarter, Krones raises full-year guidance for 2021
- The upward trend in Krones' order intake continued in the second quarter. In total between January and June 2021, the volume of orders increased by 40.3% to €2,044.3 million.
- Krones increased revenue in the first half of 2021 by 1.3% to €1,720.1 million. Second-quarter revenue was up 11.7% year on year, to €845.5 million.
- The first half of 2021 saw Krones significantly improve its profitability. Earnings before interest, taxes, depreciation and amortisation (EBITDA) went up 16.2% to €137.7 million. The EBITDA margin was 8.0% in the reporting period (previous year: 7.0%).
- Based on the positive first-half trend, Krones is raising its full-year guidance for 2021. The company now expects revenue growth of 7% to 9% (previously 2.5% to 3.5%) and an EBITDA margin of 7% to 8% (previously 6.5% to 7.5%).
2 | Krones AG | Conference Call 03 August 2021
Krones highlights 1st HY 2021
Order intake RevenueEBITDA margin Free cash flow
+40.3% | +1.3% | 8.0% | €35million |
€2.04 billion | €1.7 billion | (PY 7.0%) | (PY € -65 million) |
3 | Krones AG | Conference Call 03 August 2021
Order intake and orders on hand 1st HY 2021 (€ million)
Q4
Q3
4,084
+3.2%
1,126
919
1,386
3,307
-19.0%
1,006
Q4 -10.7%
844
Q3 -8.2%
2,044
+40.3%
1,536
Strong and sustainable market recovery in 2021 after Covid-19 crisis 2020
◼ Order intake with more than €2 billion |
on pre Covid-19 level. For 2nd half- |
year order intake will be below this |
level - based on a more selective |
approach |
◼ Very high orders on hand level (with an |
Q2
997 +9.9%
Q2 616
1,211
-12.6%
Q2 | +58.3% |
increase of 27% since beginning of the |
year) gives a full utilisation till year-end |
Order intake | Q1 |
Orders on hand
1,042
Full year
2019
-38.2%
841
Q1 -19.3%
Full year
2020
1,069
Q1 +27.1%
30.06.
2021
4 | Krones AG | Conference Call 03 August 2021
Revenue development by quarter (€ million)
3,959
+2.7%
Q4 1,069
Q3 1,000
Q2 906
Q1 984
3,323
-16.1%
874
Q4 -18.2%
750
Q3 -25.0%
Q2 757
-16.5%
942
Q1 -4.2%
1,720
+1.3%
845
Q2 11.7%
Q1 875
-7.2%
2nd half-year of 2020 just partly hit by Covid-19 crisis, so increase in revenue of 1.3% in line with expectations
- Revenue and performance still influenced in 1st half-year by Covid-19 regulations
- Higher revenue in 2nd half-year expected. Full year growth estimated between 7%-9%, which will be still below pre Covid-19 level
20192020
2021
5 | Krones AG | Conference Call 03 August 2021
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Krones AG published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 09:55:21 UTC.