Krones Group Annual Report 2020
2020 Highlights
- Krones’ consolidated revenue fell in 2020 as a result of the Covid-19 pandemic by 16.1% to €3.32 billion.
- Order intake was also significantly affected by corona and, at €3.31 billion, was 19.0% lower than in 2019. However, the fourth quarter showed first positive signs of improvement.
- Krones’ profitability was impacted by one-time expenses of around €72 million for capacity adjustments. EBITDA decreased from €227.3 million to €133.2 million. The EBITDA margin was 4.0% (previous year: 5.7%). Excluding these one-off effects, the EBITDA margin was 6.2% (previous year: 6.6%).
- Krones generated free cash flow of €221.3 million in 2020 (previous year: –€94.4 million).
- Due to the negative consolidated net income, Krones will pay out only the statutory minimum dividend for 2020. This corresponds to €0.06 per share.
| 2020 | 2019 | Change | ||
| Revenue | € million | 3,322.7 | 3,958.9 | – 16.1 % |
| Order intake | € million | 3,307.0 | 4,083.5 | – 19.0 % |
| Orders on hand at 31 December | € million | 1,211.3 | 1,385.7 | – 12.6 % |
| EBITDA | € million | 133.2 | 227.3 | – 41.4 % |
| EBITDA margin | % | 4.0 | 5.7 | – 1.7 PP* |
| EBIT | € million | – 40.8 | 43.9 | – |
| EBT | € million | – 36.6 | 41.7 | – |
| EBT margin | % | – 1.1 | 1.1 | – 2.2 PP* |
| Consolidated net income | € million | – 79.7 | 9.2 | – |
| Earnings per share | € | – 2.52 | 0.30 | – |
| Dividend per share | € | 0.06** | 0.75** | – 0.69 % |
| Capital expenditure for PP&E and intangible assets | € million | 93.8 | 168.9 | – €75.1 million |
| Free cash flow | € million | 221.3 | – 94.4 | + €315.7 million |
| Net cash at 31 December *** | € million | 184.9 | 38.1 | + €146.8 million |
| Working capital to revenue **** | % | 28.3 | 26.9 | + 1.4 PP* |
| ROCE | % | – 2.6 | 2.7 | – 5.3 PP* |
| Employees at 31 December | ||||
| Worldwide | 16,736 | 17,353 | – 617 | |
| Germany | 10,364 | 10,733 | – 369 | |
| Outside Germany | 6,372 | 6,620 | – 248 |
*Percentage Points **As per proposal for the appropriation of earnings available for distribution***Cash and cash equivalents less debt ****Average of last 4 quarters