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    KRN   DE0006335003

KRONES AG

(KRN)
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87.425 EUR   -0.03%
09/23KRONES AG : Gets a Buy rating from Baader Bank
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Krones : Ad-hoc disclosure – Krones raises full-year guidance for 2021 and publishes preliminary half-year figures

07/23/2021 | 04:18am EDT

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.

Disclaimer

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.


ę Publicnow 2021
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Financials
Sales 2021 3 566 M 4 186 M 4 186 M
Net income 2021 105 M 123 M 123 M
Net cash 2021 132 M 155 M 155 M
P/E ratio 2021 26,3x
Yield 2021 1,14%
Capitalization 2 763 M 3 242 M 3 244 M
EV / Sales 2021 0,74x
EV / Sales 2022 0,65x
Nbr of Employees 16 232
Free-Float 42,7%
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 87,45 €
Average target price 98,75 €
Spread / Average Target 12,9%
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Managers and Directors
Christoph Klenk Chairman-Executive Board & Chief Executive Officer
Norbert Broger Chief Financial Officer
Volker Kronseder Chairman-Supervisory Board
Klaus Gerlach Member-Supervisory Board & Head-Operations
Hans-JŘrgen Thaus Member-Supervisory Board
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