Krones Ag · XETR:KRN
Krones — FY2015 Earnings Presentation
25 slides from Krones's earnings presentation, Mar 17, 2016
Slide 1: Financial Year 2015 Preliminary Figures
KRONES Financial Year 2015 Preliminary Figures Conference Call March 17, 2016
Slide 2: Highlights 2015, Financials 2015, Outlook 2016
2 ｜KRONES Conference Call March 17, 2016 Highlights 2015 Financials 2015 Outlook 2016
Slide 3: Krones achieved its targets for 2015 and is positive for 2016
3 ｜KRONES Conference Call March 17, 2016 Krones achieved its targets for 2015 and is positive for 2016 Revenue increased by 7.5 % to 3.17 bn € EBT Margin increases from 6.5 % prior year to 7.0 % Dividend for 2015 planned at 1.45 € per share (prior year 1.25 € per share)
Slide 4: Krones achieved all targets for 2015
4 ｜KRONES Conference Call March 17, 2016 Krones achieved all targets for 2015 Revenue growth EBT margin ROCE Actual: 7.5 % Actual: 7.0 % Actual: 17.7 % Target: + 4.0 % Target: 7.0 % Target: 17.0 % ✓ ✓ ✓ 3,173.5 7.0 17.7 2,953.4 6.5 16.4 2014 2015 2014 2015 2014 2015 in € million in % in %
Slide 5: Highlights 2015, Financials 2015, Outlook 2016
5 ｜KRONES Conference Call March 17, 2016 Highlights 2015 Financials 2015 Outlook 2016
Slide 6: Orders received rose 4.9%
6 ｜KRONES Conference Call March 17, 2016 Orders received rose 4.9% New Orders by quarter in € million 3,189 Trend by region 3,040 +5 % 2,809 Central Europe +8 % 878 2,721 +3 % 842 +4 % Western Europe 2,514 +8 % +20 % 705 753 Eastern Europe 621 787 CIS/Central Asia 736 +7 % 721 +2 % 570 640 M
Slide 7: Revenue increased above-average
7 ｜KRONES Conference Call March 17, 2016 Revenue increased above-average Revenue development by quarter in € million 3,174 2,953 +7 % 2,816 +5 % 2,664 903 +6 % 2,480 789 +14 % +7 % 783 +1 % 766 666 767 729 +5 % 656 +11 % 557 608 732 765 694 +6 % +4 % 650 641 703 739 607 649 683 +5 % +3 % 2011 2012 2
Slide 8: Strong increase of EBT margin
8 ｜KRONES Conference Call March 17, 2016 Strong increase of EBT margin EBT in € million Personnel cost in € million 919.1 810.7 853.3 776.1 223.3 191.8 +16 % 28.7 29.3 29.0 29.1 169.7 +13 % 2012 2013 2014 2015 7.0 Personnel cost to total performance (%) +71 % 6.5 99.1 6.0 Material cost in € million
Slide 9: Krones continues to grow its workforce in Emerging Markets
9 ｜KRONES Conference Call March 17, 2016 Krones continues to grow its workforce in Emerging Markets Krones employee worldwide Krones employee development in the Emerging Markets 13,346 Year South Africa Asia CIS/East China Total 12,624 12,285 America Europe 2013 485 339 400 132 325 1,681 9,767 9,098
Slide 10: Machines and lines for product filling and decoration
10 ｜KRONES Conference Call March 17, 2016 Machines and lines for product filling and decoration
Slide 11: Product filling and decoration: profitable growth
11 ｜KRONES Conference Call March 17, 2016 Product filling and decoration: profitable growth Revenue development in € million EBT development in € million 2,706 Regionalization of the LCS business 2,493 220.5 +8.6 % 2,330 +7.0 % 193.2 Consistent modular product structure as basis for reduction of +14
Slide 12: Machines and lines for beverage production / process technology
12 ｜KRONES Conference Call March 17, 2016 Machines and lines for beverage production / process technology
Slide 13: Beverage production/process technology: operative break-even
13 ｜KRONES Conference Call March 17, 2016 Beverage production/process technology: operative break-even Revenue development in € million EBT development in € million Expansion of the component business 388 359 359 Strengthening the product portfolio for carbonated soft drinks -7.6 % +0 % applications
Slide 14: Machines and lines for the compact class
14 ｜KRONES Conference Call March 17, 2016 Machines and lines for the compact class
Slide 15: Compact class: stable profitability
15 ｜KRONES Conference Call March 17, 2016 Compact class: stable profitability Revenue development in € million EBT development in € million 109 102 97 +6.8 % Restructuring program finished +4.9 % Set-up for profitable growth 2013 2014 2015 4.9 Focus on line business and blowing-, filling- and labell
Slide 16: Working Capital below expectations
16 ｜KRONES Conference Call March 17, 2016 Working Capital below expectations Working capital* in % of revenue ROCE* in % 17.7 25.0 24.6 24.6 16.7 16.4 24.2 10.0 2012 2013 2014 2015 2012 2013 2014 2015 *LTM (Last Twelve Months) *LTM (Last Twelve Months)
Slide 17: Further increase in cash position
17 ｜KRONES Conference Call March 17, 2016 Further increase in cash position (€ million) 2015 2014 Earnings before taxes 223.3 191.8 +/– non-cash expenses and income +91.4 +137.2 +/– change in Working Capital –86.6 -38.9 +/– other (mainly tax payments) –53.7 -41.3 Cash flow from operating activities
Slide 18: Dividend proposal for 2015: 1.45 € per share
18 ｜KRONES Conference Call March 17, 2016 Dividend proposal for 2015: 1.45 € per share Net-Cash-Funds in € million Dividend per share in € 2.00* 1.45** 365 336 1.25 1.00 240 0.75 133 2012 2013 2014 2015 2012 2013 2014 2015 * including a 1.00 € special dividend ** as per proposal for the appropriatio
Slide 19: Highlights 2015, Financials 2015, Outlook 2016
19 ｜KRONES Conference Call March 17, 2016 Highlights 2015 Financials 2015 Outlook 2016
Slide 20: Economic development by region
20 ｜KRONES Conference Call March 17, 2016 Economic development by region 6 CIS GDP Development 2015 – 2017 (Jan 2016) 0.5 1.7 0.0 Global 2015 p2016 p2017 2 USA -2.8 2.8 -2.7 3.6 3.6 2.6 2.6 2.6 1 Euro Area 3.4 2.5 3.1 3.1 1.6 1.7 1.7 1.5 1.5 3 China 6.8 6.9 2015 p2016 p2017 2015 p2016 p2017 6.3 6.3
Slide 21: Development of primary packaging 2005 – 2018 market development
21 ｜KRONES Conference Call March 17, 2016 Development of primary packaging 2005 – 2018 market development Beverage packaging in billion units +3.6 % p.a. 1,777 Others +3.5 % p.a. +3.3 % p.a. 1,598 145 HDPE +3.4 % p.a. 1,491 129 71 +2.5 % p.a. 1,397 119 61 Carton 209 +5.4 % p.a. 1,234 1,307 108 56 18
Slide 22: Krones targets 2016
22 ｜KRONES Conference Call March 17, 2016 Krones targets 2016 Revenue growth EBT margin ROCE Target: + 3 % Target: 7.0 % Target: 18 %
Slide 23: KRONES
)( KRONES
Slide 24: Financial Calender 2016
24 ｜KRONES Conference Call March 17, 2016 Financial Calender 2016 28.04.2016 Conference Call Group 2015 und Q1 2016 28.04.2016 Annual Report 2015 28.04.2016 Interim Report as per March 31 28.04.2016 Financial Press Conference 15.06.2016 Annual General Meeting Olaf Scholz Head of Investor Relations 2
Slide 25: Disclaimer
25 ｜KRONES Conference Call March 17, 2016 Disclaimer This investor presentation contains forward-looking statements that are based on current estimates, forecasts and assumptions made by KRONES AG management to the best of its knowledge and other information currently available to KRONES AG. The for