At the end of the first nine months, EBT is down by 17.0% to €139.4 million due to rising costs of goods and labour and to a one-time expense in connection with setting up our production location in Hungary.
Based on the results and the current forecast, Krones is reducing its full year earnings forecast for 2018. Adjusted for one-time expenses, the EBT margin is targeted at 6.5% instead of the 7.0% projected previously.
Turnover after nine months at €2,692.8 m, 7.3% higher than in the previous year. Executive Board is nonetheless revising the turnover growth target for 2018, due to large-scale projects being postponed and to negative currency effects, from 6% to 4%.
Krones operates worldwide, delivering leading technologies for filling and packaging, process engineering, and intralogistics as well as IT solutions for the food and beverage industries. Our sound balance sheet and financial strength enable us to invest in new technologies – and to continue to offer our customers the best solutions. We are creating value for our customers and clear competitive advantages for our company.