DGAP-News: Krones AG / Key word(s): Quarter Results 
Krones AG: Krones reports good first quarter 2021 
2021-05-07 / 08:00 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Corporate News Release 
7 May 2021 
Krones reports good first quarter 2021 
- Upward trend in order intake continues. Order value increased in first three months of 2021 by 27.1% to EUR1,068.8 
million. 
- First quarter revenue of EUR874.6 million down 7.2% on prior-year figure, which was only partially affected by corona. 
- Despite lower revenue, Krones was able to limit the decline in earnings before interest, taxes, depreciation and 
amortisation (EBITDA) from EUR89.5 million to EUR76.5 million. The EBITDA margin was 8.7% in the reporting period, down on 
the high prior-year figure of 9.5%. 
- Based on the positive first-quarter trend, Krones is confident of meeting the forecast for 2021. For the full year, 
the company expects revenue growth of 2.5% to 3.5% and an EBITDA margin of 6.5% to 7.5%. 
Krones, the world's leading manufacturer of filling and packaging technology, saw business further stabilise in the 
first quarter of 2021. Revenue showed a year-on-year decrease of 7.2%, from EUR942.0 million to EUR874.6 million. It should 
be noted, however, that the Corona crisis had only a minor impact on revenue in the first quarter of 2020, so that the 
previous year's revenue figure was still relatively high. The revenue shortfall in the reporting period also reflects 
the weaker order intake in the second and third quarters of 2020. 
Order intake has since recovered significantly. Following a strong fourth quarter in 2020, order intake continued to 
grow dynamically from January to March 2021. The contract value of orders increased by 27.1% year on year to EUR1,068.8 
million. At EUR1,405.5 million as of the end of March 2021, Krones' order backlog was up 9.4% on the previous year. 
Krones generates 8.7% EBITDA margin in first quarter 
Krones has significantly enhanced its flexibility with extensive structural measures. This positively impacted 
profitability in the first quarter of 2021. Despite the lower revenue, Krones was able to limit the decline in earnings 
before interest, taxes, depreciation and amortisation (EBITDA) from EUR89.5 million to EUR76.5 million. The EBITDA margin 
was 8.7% in the reporting period, down on the high prior-year figure of 9.5%. 
Earnings before taxes (EBT) amounted to EUR44.6 million (previous year: EUR53.0 million). This corresponds to an EBT margin 
of 5.1% (previous year: 5.6%). In total, Krones generated consolidated net income of EUR32.8 million from January to 
March 2021 (previous year: EUR39.1 million). This results in earnings per share of EUR1.04 (previous year: EUR1.24). 
Krones generates free cash flow of EUR30.3 million in first quarter of 2021 and is financially well positioned 
Krones significantly improved free cash flow in the reporting period by EUR46.3 million to EUR30.3 million (previous year: 
EUR-16.0 million). The company thus consolidated its strong finances. Net cash and cash equivalents, meaning cash and 
cash equivalents less bank debt, increased to EUR208.2 million at the end of March 2021 (previous year: EUR10.8 million). 
In addition, Krones had around EUR970 million in unused lines of credit as of 31 March 2021. 
Mainly due to the lower quarterly revenue, average working capital over the past four quarters increased as a 
percentage of revenue from 27.1% in the previous year to 28.7% in the first three months of 2021. 
Following good start to the year, KRONES optimistic for full year 2021 
Following the positive first quarter, the company remains confident for the full year 2021. On the basis of the current 
general economic outlook, Krones expects that the markets relevant to the company will stabilise and show a trend 
towards recovery in the course of the year. Based on this, Krones expects revenue growth of 2.5% to 3.5% in 2021. 
With revenue increasing and thanks to the adopted structural measures, Krones will improve profitability this year 
compared with 2020. For 2021, the company forecasts an EBITDA margin of 6.5% to 7.5%. This would correspond to an EBT 
margin of 3.0% to 4.0%. For its third performance target, working capital to revenue, Krones expects a figure this year 
of 26%-27%. 
The guidance for 2021 is subject to the assumption that there will be no severe impacts from the Covid-19 pandemic such 
as harmful virus mutations or vaccination difficulties. This would hit the economy and hence also Krones harder than 
currently expected and could lead to negative revenue and earnings effects. 
Krones has published the complete quarterly statement online at: 
https://www.krones.com/media/downloads/Q1_2021_e.pdf 
Contact: 
Olaf Scholz 
Head of Investor Relations, Krones AG 
Tel.: +49 9401 70-1169 
E-mail: olaf.scholz@krones.com 
=---------------------------------------------------------------------------------------------------------------------- 
2021-05-07 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      Krones AG 
              Böhmerwaldstraße 5 
              93073 Neutraubling 
              Germany 
Phone:        +49 (0)9401 701169 
Fax:          +49 (0)9401 709 1 1169 
E-mail:       investor-relations@krones.com 
Internet:     www.krones.com 
ISIN:         DE0006335003 
WKN:          633500 
Indices:      SDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, 
              Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange 
EQS News ID:  1193720 
 
End of News   DGAP News Service 
=------------ 

1193720 2021-05-07


 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1193720&application_name=news

(END) Dow Jones Newswires

May 07, 2021 02:01 ET (06:01 GMT)