Krones' business continued to develop dynamically through the second quarter of 2021. Based on preliminary figures, order intake in the first six months of 2021 was around €2,045 million, some 40% higher than a year earlier. Revenue in the first half of 2021 increased by about 1% year on year to approximately €1,720 million. In the second quarter of 2021, revenue was almost 12% higher than in the prior-year quarter. Despite rising costs, notably of materials and freight, Krones' profitability improved significantly in the period January to June 2021. Earnings before interest, taxes, depreciation and amortisation reached approximately €138 million (previous year: €118.5 million). The EBITDA margin increased to 8.0% (previous year: 7.0%).
Based on the preliminary figures for the first half year and the good outlook for the third and fourth quarters of 2021, Krones is raising its full-year guidance for 2021. For the Krones Group, the Executive Board now expects full-year revenue growth of 7% to 9% in 2021 (previously 2.5% to 3.5%). Krones anticipates an EBITDA margin of 7% to 8% (previously 6.5% to 7.5%). For the third performance target, working capital to revenue, the guidance remains unchanged at 26% to 27%.
The guidance for 2021 is subject to the assumption that there will be no severe impacts from the Covid-19 pandemic, problems in supply chains or other general economic impacts.
Krones will publish its Interim Report as of 30 June 2021 on 3 August 2021.
Explanations of the cited financial performance indicators are provided in the Krones Group's Annual Report online at https://www.krones.com/media/downloads/GB_2020_Konzern_e.pdf, primarily on pages 52 and 198.
Krones AG published this content on 23 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 July 2021 08:17:04 UTC.