Krones Group Annual Report 2024
Krones published its 2024 Annual Report and confirmed its preliminary figures.
2024 Highlights
- Krones continued its profitable growth path in 2024. Revenue increased by 12.1% year on year to €5,293.6 million.
- Due to customers’ continued good willingness to invest, Krones increased its order intake compared to the previous year’s high level by 1.6% to €5,460.7 million. At €4,289.5 million as of the end of 2024, the order backlog was up 4.1% on the previous year.
- Despite persistently high costs, Krones has significantly improved profitability. EBITDA improved by 17.5% in 2024 to €537.1 million. The EBITDA margin increased from 9.7% in the previous year to 10.1%.
- Free cash flow was significantly higher than in the previous year. Adjusted for acquisitions, it increased in 2024 from €13.2 million to €292.5 million. Krones improved ROCE (return on capital employed) to 18.2% in 2024 (previous year: 16.3%).
- Due to the positive business performance, Krones intends to pay an 18.2% higher dividend of €2.60 per share for 2024 (previous year: €2.20).
- The Executive Board is confident overall for the 2025 financial year and forecasts revenue growth of 7% to 9% with an improved EBITDA margin of 10.2% to 10.8% and ROCE of 18% to 20%.
| 2024 | 2023 | Change | ||
| Revenue | € million | 5,293.6 | 4,720.7 | + 12.1% |
| Order intake | € million | 5,460.7 | 5,376.6 | + 1.6% |
| Order backlog at 31 December | € million | 4,289.5 | 4,122.3 | + 4.1% |
| EBITDA | € million | 537.1 | 457.3 | + 17.5% |
| EBITDA margin | % | 10.1 | 9.7 | + 0.4 PP* |
| EBIT | € million | 368.6 | 291.0 | + 26.7% |
| EBT | € million | 381.6 | 310.5 | + 22.9% |
| EBT margin | % | 7.2 | 6.6 | + 0.6 PP* |
| Consolidated net income | € million | 277.2 | 224.6 | + 23.4% |
| Earnings per share | € | 8.77 | 7.11 | + 23.3% |
| Dividend per share | € | 2.60** | 2.20 | + 18.2% |
| Capital expenditure for PP&E andintangible assets | € million | 181.1 | 162.7 | + €18.4 million |
| Free cash flow | € million | 113.2 | – 101.3 | + €214.5 million |
| Free cash flow excluding acquisitions | € million | 292.5 | 13.2 | + €279.3 million |
| Net cash at 31 December *** | € million | 439.9 | 444.7 | – €4.8 million |
| Working capital to revenue **** | % | 17.0 | 17.8 | – 0.8 PP* |
| ROCE | % | 18.2 | 16.3 | + 1.9 PP* |
| Employees at 31 December | ||||
| Worldwide | 20,379 | 18,513 | + 1,866 | |
| Germany | 11,312 | 10,654 | + 658 | |
| Outside Germany | 9,067 | 7,859 | + 1,208 |
*Percentage Points **As per proposal for the appropriation of earnings available for distribution***Cash and cash equivalents less debt ****Average of last 4 quarters