Following a positive first half of 2024, the third quarter also went well for Krones. The company remained on a profitable growth path and, after the first nine months, confirms the group's financial targets for the full year 2024. The strong revenue growth continued from July to September 2024. At more than €1.3 billion, revenue increased by more than 13 per cent compared to the previous year. Production efficiency also improved due to the good availability of materials. In the prior year, production output was affected by occasional bottlenecks in the supply of electronic components. Part of the revenue growth is due to the acquisition of Netstal Maschinen. Order intake in the third quarter increased slightly to €1.3 billion compared to the previous quarter. It almost reached the high level of the same quarter in the prior year.
Krones increases Ebitda and net income by more than 20 percent in the third quarter
In the third quarter, Krones improved earnings before interest, taxes, depreciation and amortization (Ebitda) by 21.6 percent year-on-year to €134.9 million. Net income was up 21 percent on the prior-year figure at €65.7 million.
High order backlog ensures capacity utilization until end of 2025
In the first nine months of 2024, revenue rose by 11 percent year over year, from nearly €3.5 billion to around €3.9 billion. Overall, growth in the first three quarters was within the forecast range of 9 to 13 percent for the full year 2024. Order intake from January to September 2024 was €4.1 billion. Customer order activity remained stable at a high level in the first three quarters of 2024. Despite critical macroeconomic conditions, the willingness of customers in the beverage industry to invest remains good. The very high order backlog ensures full utilization of production capacities until the end of 2025.
Consolidated net income of Krones increases by 14 percent in the first three quarters
Ebitda rose by almost 18 percent year-on-year in the first three quarters, from €332.3 million to €391.1 million. Consolidated net income improved by 14 percent year-on-year in the first three quarters of 2024, to €200.7 million. Krones spent a total of €178.9 million on M&A activities in the first three quarters of 2024.
Krones confirms financial targets for 2024
The economic environment remains challenging for Krones. After a successful first three quarters, the mechanical and plant engineering firm is fully on track. The company expects to achieve its group targets for the 2024 financial year and confirms them. This is based on the currently expected development of the markets relevant to Krones.
For 2024, Krones expects consolidated revenue to grow by 9 to 13 percent. On the back of revenue growth, a continued disciplined pricing strategy and the systematic implementation of cost optimization measures, Krones aims to improve its profitability again in the current year compared to 2023. All figures forecast for 2024 include the effects of the acquisition of Netstal Maschinen, which has been consolidated in the Filling and Packaging Technology segment since March 28, 2024.
