Krones to pay dividend of €0.75 per share for 2019
Date 03.19.2020 | Category: News
Despite the difficult general economic conditions, Krones achieved its 3% growth target. Revenue increased by 2.7% year-on-year, from €3,854.0 million to €3,958.9 million. Krones’ consolidated revenue was affected in 2019 by the plastic packaging debate. In plastics technology, where the company provides machines and lines for filling and packaging in PET, revenue was down – above all in the first half of 2019 – primarily due to the public debate surrounding plastic. Krones was able to make up for this with growth in other areas.
Order intake improved by 3.2%, from €3,957.3 million in the previous year to €4,083.5 million in 2019. Krones had orders on hand totalling €1,385.7 million at the end of 2019. This exceeded the already high prior-year order backlog of €1,261.1 million by 9.9%.
Krones’ profitability in 2019 fell short of the original expectations. This was mainly due to high labour costs, expenses for restructuring and impairments for portfolio streamlining. The product mix also had a negative impact on profitability. Consolidated earnings before taxes (EBT) decreased from €204.3 million in the previous year to €41.7 million in 2019. The EBT margin dropped from 5.3% to 1.1%. It should be noted in this connection that Krones recognised provisions and impairments totalling around €70 million in the fourth quarter of 2019. The full report is available at krones.com/en/company/investor-relations/krones-group-annual-report-2019.php
Source: KronesAuthor: COX