Krones Group Annual Report 2019
2019 Highlights
- Despite difficult overall economic conditions, consolidated revenue increased in 2019 by 2.7% to €3.96 billion.
- Order intake, at €4.08 billion, was up 3.2% year-on-year.
- Profitability affected by high personnel costs and one-time expenses for restructuring and impairments. The EBT margin is 1.1% (prior year 5.3%). Without one-time effects, the EBT margin would be 2.8%, in line with the guidance of around 3%.
- Krones is making good progress in implementing structural measures for a sustained improvement in earnings.
- Krones plans to pay a dividend based on earnings excluding one-time effects. Shareholders will receive a dividend of €0.75 per share for 2019.
| 2019 | 2018 | Change | ||
| Revenue | € million | 3,958.9 | 3,854.0 | + 2.7 % |
| Order intake | € million | 4,083.5 | 3,957.3 | + 3.2 % |
| Orders on hand at 31 December | € million | 1,385.7 | 1,261.1 | + 9.9 % |
| EBITDA | € million | 227.3 | 305.9 | – 25.7 % |
| EBITDA margin | % | 5.7 | 7.9 | – 2.2 PP* |
| EBIT | € million | 43.9 | 203.2 | – 78.4 % |
| EBT | € million | 41.7 | 204.3 | – 79.6 % |
| EBT margin | % | 1.1 | 5.3 | – 4.2 PP* |
| Consolidated net income | € million | 9.2 | 150.6 | – 93.9 % |
| Earnings per share | € | 0.30 | 4.78 | – |
| Dividend per share | € | 0.75** | 1.70 | – 55.9 % |
| Capital expenditure for PP&E and intangible assets | € million | 168.9 | 179.1 | – €10.2 million |
| Free cash flow | € million | – 94.4 | 120.7 | – €215.1 million |
| Net cash at 31 December *** | € million | 38.1 | 215.1 | – €177.0 million |
| Working capital to revenue **** | % | 26.9 | 27.3 | – 0.4 PP* |
| ROCE | % | 2.7 | 12.8 | – 10.1 PP* |
| Employees at 31 December | ||||
| Worldwide | 17,353 | 16,545 | + 808 | |
| Germany | 10,733 | 10,887 | – 154 | |
| Outside Germany | 6,620 | 5,658 | + 962 |
*Percentage Points **As per proposal for the appropriation of earnings available for distribution***Cash and cash equivalents less debt ****Average of last 4 quarters