Krones, the German bottling-machine manufacturer, has announced impressive third-quarter financial results, driven by robust demand for packaged food and beverages. The company reported a net profit of 54.3 million euros ($57.7 million), representing a 20% increase compared to the same period last year. Despite challenges in the supply of electrical components, sales rose by 10% to EUR1.16 billion.
Increased Earnings and Order Intake
Krones also witnessed a significant increase in earnings before interest, taxes, depreciation and amortization (EBITDA) in the quarter, experiencing a climb of 17% to EUR110.9 million. This growth was accompanied by a widened EBITDA margin of 9.5%, up from 9.0% in the previous year.
Although the order intake decreased slightly to EUR1.33 billion compared to the same period last year, it saw a positive increase of 4.3% compared to the prior quarter. This surge pushed Krones' order backlog above the impressive EUR4 billion mark for the first time.
Positive Outlook for the Future
Looking ahead, Krones remains optimistic about its performance for the year. The company expects to achieve sales growth between 11% and 13%, with an anticipated EBITDA margin of 9% to 10%. Additionally, Krones aims for a return on capital employed between 15% and 17%.
Our Latest News
Despite a strong year for Big Tech, the Nasdaq Composite has not reached its record high from 2021. Several influential tech companies have driven the Nasdaq's...
Bitcoin reaches $30,000 milestone after Fitch Ratings downgrades U.S. government debt rating, potentially impacting the cryptocurrency's future.