Krones Ag · XETR:KRN
Krones — FY2018 Earnings Presentation
18 slides from Krones's earnings presentation, Feb 21, 2019
Slide 1: Financial Year 2018 Preliminary Figures
KRONES Financial Year 2018 Preliminary Figures Conference Call February 21, 2019
Slide 2: KRONES Highlights 2018
2 ｜KRONES Conference Call February 21, 2019 KRONES Highlights 2018 +4.5% 3,957 € Mio. 3,854 Revenue (+4%) € Mio. New orders 5.3% +149.0 Operating free cash flow € Mio. (PY -118.3 € Mio.) 204.3 € Mio. EBT margin
Slide 3: Order intake increased further
3 ｜KRONES Conference Call February 21, 2019 Order intake increased further New orders by quarter (€ million) 3,957 3,787 +5% +10% 3,441 +8% 1,017 1,090 -7% 989 +10% +13% Q4 925 918 +1% 850 +8% +8% Q3 1,022 904 +13% 780 +16% Q2 +6% 993 875 +13% 822 Q1 +6% +4% 2016 2017 2018 1,145 1,240 1,261 Orders o
Slide 4: Revenue grew as expected
4 ｜KRONES Conference Call February 21, 2019 Revenue grew as expected Revenue development by quarter (€ million) 3,854 3,691 +4% +9% 3,391 +7% 1,161 1,182 -2% Q4 1,011 +17% +12% 902 734 +23% Q3 820 -11% +7% 876 899 Q2 788 +11% +3% +3% 899 892 Q1 772 +17% -1% +4% 2016 2017 2018
Slide 5: KRONES' revenue developed evenly during 2018
5 ｜KRONES Conference Call February 21, 2019 KRONES' revenue developed evenly during 2018 Share of revenue North America CIS/Central Asia 2017 2018 2017 2018 14.8% 13.8% 1.5% 2.1% South America China 2017 2018 2017 2018 11.9% 13.2% 6.9% 7.5% Europe Asia/Pacific 2017 2018 2017 2018 36.0% 38.8% 13.6% 1
Slide 6: EBT was burdened by material costs, reorganisation and M&A costs
6 ｜KRONES Conference Call February 21, 2019 EBT was burdened by material costs and reorganisation (29m) and M&A costs (13m) EBT (€ million) 258.8 237.6 +9% +6% 204.3 45.5 -21% 7.0 7.0 5.3 2016 2017 2018 EBT margin in %
Slide 7: Personnel and material cost
7 ｜KRONES Conference Call February 21, 2019 Personnel and material cost Personnel cost (€ million) 1,061.4 1,137.3 919.1 974.3 29.0 29.9 29.5 28.7 2015 2016 2017 2018 Personnel cost to total performance (%) Material cost (€ million) 2,032.0 1,859.4 1,589.3 1,609.7 49.7 49.4 50.9 52.7 2015 2016 2017
Slide 8: Growth: Product filling and decoration
8 ｜KRONES Conference Call February 21, 2019 Product filling and decoration EBT includes reorganisation and M&A costs (25m) Revenue development EBT development MEDIUM-TERM TARGETS: 4 ‒ 6% (€ million) (€ million) 3,178 3,090 2,937 263.3 +3% +5% 236.0 +12% +4% 223.3 Growth +4% -15% 8% EBT margin 8.0% 8
Slide 9: Growth: Beverage production/process technology
9 ｜KRONES Conference Call February 21, 2019 Beverage production/process technology negative EBT includes costs for reorganisation and M&A (17m) Revenue development EBT development MEDIUM-TERM TARGETS: 8 ‒ 10% (€ million) (€ million) 676 601 +12% 1.6 Growth 454 +32% 0.3 -0.7 +26% 2016 2017 2018 -2.8
Slide 10: Working Capital target achieved
10 ｜KRONES Conference Call February 21, 2019 Working Capital target achieved Working capital* in % ROCE* in % of revenue 27.3 27.3 16.6 12.8 2017 2018 2017 2018 *LTM (Last Twelve Months)
Slide 11: Lower working capital caused significantly higher free cash flow
11 ｜KRONES Conference Call February 21, 2019 Lower working capital caused significantly higher free cash flow (€ million) 2018 2017 Earnings before taxes 204.3 258.8 +/– Other non-cash changes +18.6 +46.4 +/– Change in Working Capital +178.9 -188.6 +/– Other assets and liabilities -86.7 -122.5 Cash
Slide 12: Reconciliation EBT to EBITDA
12 ｜KRONES Conference Call February 21, 2019 Reconciliation EBT to EBITDA 102.7 94.7 1.1 13.3 305.9 7.9% 340.2 Financial result Depreciation 9.2% 204.3 5.3% 258.8 7.0% EBT EBITDA 2018 2017
Slide 13: Krones revised targets 2018
13 ｜KRONES Conference Call February 21, 2019 Krones revised targets 2018 Revenue growth operative EBT Working Capital/ margin Revenue 4% 6.5% 28%
Slide 14: Krones targets 2019
14 ｜KRONES Conference Call February 21, 2019 Krones targets 2019 Revenue growth EBT margin Working Capital/ Target: Target: Revenue Target: 3% 6% 26%
Slide 15: Questions and answers
15 ｜KRONES Conference Call February 21, 2019 Questions and answers ? …
Slide 16: Thank you
Thank you for your attention!
Slide 17: Financial calendar 2019
17 ｜KRONES Conference Call February 21, 2019 Financial calendar 2019 March 21, 2019 Annual Report 2018 April 29, 2019 Analyst Meeting and Quarterly Statement as per March 31 June 05, 2019 Annual General Meeting July 25, 2019 Conference Call Group Q2 2019 and Olaf Scholz Interim Report as per June 30
Slide 18: Disclaimer
18 ｜KRONES Conference Call February 21, 2019 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