Krones Ag · XETR:KRN
Krones — H1 2022 Earnings Presentation
28 slides from Krones's earnings presentation, Aug 2, 2022
Slide 1: Krones First Half Year 2022
Krones First Half Year 2022 Conference Call August 02, 2022 Christoph Klenk, CEO Norbert Broger, CFO
Slide 2: Very strong 1st half-year and full year targets 2022 confirmed
2 ｜KRONES Conference Call August 02, 2022 Despite continuing global challenges Krones had a very strong 1st half-year and confirms to achieve its full year targets 2022 Summary 1st HY 2022 After an absolutely all time Revenue growth in HY1 2022 With price increases, which Despite various global high
Slide 3: Krones highlights 1st HY 2022
3 ｜KRONES Conference Call August 02, 2022 Krones highlights 1st HY 2022 Order intake Revenue EBITDA margin Free cash flow +52.0% +15.4% 8.8% +€68 million €3.11 billion €1.985 million (PY 8.0%) (PY +€35 million)
Slide 4: 1st HY Order intake and orders on hand
4 ｜KRONES Conference Call August 02, 2022 1st HY Order intake and orders on hand (€ million) The uninterrupted high market Order intake 4,316 strength result in a very strong Orders on hand order intake in 1st half-year 2022 +30.5% 1,124 After several strong quarters and a 3,307 record in Q1 2022
Slide 5: Revenue development by quarter
5 ｜KRONES Conference Call August 02, 2022 Revenue development by quarter (€ million) 3,634 With actual revenue growth 3,323 +9.4% the expectations are at least at -16.1% 991 the upper range of the full year 874 target Q4 Revenue was increased in 1st HY 2022 by 15.4% compared to prior year, with a
Slide 6: Revenue split by region
6 ｜KRONES Conference Call August 02, 2022 Revenue split reflects the world-wide business activity of Krones with a strong position in industrial countries and a further growing US-business Share of sales (1st HY) Eastern Europe/ Russia/Central Asia 2020 2021 2022 North and Europe 7.8% 7.2% 5.5% Cent
Slide 7: EBITDA and EBITDA margin by quarter
7 ｜KRONES Conference Call August 02, 2022 EBITDA and EBITDA margin by quarter (€ million and %) 312.6 EBITDA at €175 million and +134.7% EBITDA (€ million) EBITDA margin at 8.8% 100.0 EBITDA margin in % (YTD June) As a result of performance Q4 optimizations EBITDA margin with 8.8% above the margin
Slide 8: EBT and EBT margin by quarter
8 ｜KRONES Conference Call August 02, 2022 EBT and EBT margin by quarter (€ million and %) 177.3 EBT (€ million) EBT at €113.2 million and EBT 58.9 EBT margin in % (YTD June) margin increased to 5.7% Q4 EBT increased to 1st HY 2022 by 113.2 50% to €113.2 million and EBT +49.5% margin was at 5.7% vs
Slide 9: Personnel and material expenses 1st HY
9 ｜KRONES Conference Call August 02, 2022 Personnel and material expenses 1st HY (€ million and %) Personnel cost ratio with 30.6% Personnel cost 1st HY Material cost 1st HY clearly better than last year and (€ million) (€ million) 988 further decreased vs. Q1 2022 (31.6%). Positive effects from t
Slide 10: Krones employees worldwide
10 ｜KRONES Conference Call August 02, 2022 Krones employees worldwide – stable situation in Germany after prior years capacity adjustment programs and a slight growth in the rest of the world Total Germany RoW 16,736 16,303 16,437 10,364 9,821 9,811 6,372 6,482 6,626 31.12.2020 31.12.2021 30.06.2022
Slide 11: Working Capital 1st HY
11 ｜KRONES Conference Call August 02, 2022 Working Capital 1st HY (in %) Strong decrease in Working Working Capital of revenue 1st HY Part of Working Capital in % Capital in % of sales with 21.6% (%, average over four quarters) of revenue (last 12 months) vs. prior year and 1st HY 2020 28.1 Based
Slide 12: ROCE
12 ｜KRONES Conference Call August 02, 2022 ROCE ROCE, as the new third target ROCE 1st HY 2020 – 2022* in % figure is with 11.8% in line with expectations for FY 2022 and also at the upper range of the target (10% to 12%) 11.8 The positive development of the last years mainly based on higher ear
Slide 13: Revenue and EBITDA per segment: Filling and Packaging technology
13 ｜KRONES Conference Call August 02, 2022 Revenue and EBITDA per segment Filling and Packaging technology Revenue development 1st HY Segment EBITDA (€ million) and (€ million) EBITDA margin (%) 1st HY Increase in revenue are at group level (+16%) – driven primarily by 1.674 new equipment sales
Slide 14: Revenue and EBITDA per segment: Process technology
14 ｜KRONES Conference Call August 02, 2022 Revenue and EBITDA per segment Process technology Revenue development 1st HY Segment EBITDA (€ million) and (€ million) EBITDA margin (%) 1st HY Revenues has increased vs. prior year by 15.5% and so fully on group level 174 9.2 The effects from structur
Slide 15: Revenue and EBITDA per segment: Intralogistics
15 ｜KRONES Conference Call August 02, 2022 Revenue and EBITDA per segment Intralogistics Revenue development 1st HY Segment EBITDA (€ million) and (€ million) EBITDA margin (%) 1st HY After a strong recovery in revenue in 2021 (+62%) based on high negative influences in 2020 by 137 Covid-19, the r
Slide 16: Financially very strong net cash despite dividend payment
16 ｜KRONES Conference Call August 02, 2022 Krones financially very strong net cash despite dividend payment of €44 million in Q2 Liquidity reserves 1st HY 2022 ~ €1.4bn Equity (€ million) and equity ratio (in %) Used credit lines €5m 1,505 1,392 1,200 Cash €390m Total €1,371m 40.1% Free credit lines
Slide 17: Free cash flow 1st HY
17 ｜KRONES Conference Call August 02, 2022 Free cash flow 1st HY Free cash flow with €68 million nearly (€ million) 2022 2021 doubled vs. prior year Earnings before taxes (EBT) 113.2 75.7 (€35 million) +/– Other non-cash changes +109.2 +156.0 Operating activities with €122 million in +/– Change in
Slide 18: Cashflow and cash conversion rate
18 ｜KRONES Conference Call August 02, 2022 Cashflow and cash conversion rate Free cashflow increased and therefore Free cashflow 1st HY (without M&A) Cash conversion rate 1st HY cash conversion rate also improving in € million 68 (FCF/net income* in %) 82 Cash conversion rate increased from 57% to
Slide 19: Impact of potential energy-/gas shortage on Krones?
Impact of potential energy-/gas shortage on Krones?
Slide 20: Global Krones network
20 ｜KRONES Conference Call August 02, 2022 Global Krones network 21 Production sites ROW ~ 20% 46 Engineering sites Germany ~ 80% 63 Production hours of all Krones Sites Further subsidiaries and representative offices
Slide 21: What does a possible gas shortage mean for Krones?
21 ｜KRONES Conference Call August 02, 2022 What does a possible gas shortage mean for Krones? Customers Krones Sites 15% of order intake is in markets heavily All sites use gas for heating and production (approx. dependent on Russian gas 20% of energy demand) Decision pending as to whether Kro
Slide 22: Outlook
Outlook 2022
Slide 23: Krones Outlook 2022
23 ｜KRONES Conference Call August 02, 2022 Krones Outlook 2022 – a strong confirmation despite challenging times Global supply chain shortages and interruptions, strong inflation in many Kernaussage countries, political risks in Europe and other parts of the world as well as remaining pandemic uncer
Slide 24: Key take aways
24 ｜KRONES Conference Call August 02, 2022 Key take aways 1. Record order intake and order backlog – excellent base for 2023 2. Revenues recovering and capacity utilization improving 3. Strong improvement in profitability, due to efficiency improvement measures and strong service business in all reg
Slide 25: Questions and Answers
Questions and Answers 2
Slide 26: Thank you for your attention!
Thank you for your attention!
Slide 27: Financial calendar 2022
27 ｜KRONES Conference Call August 02, 2022 Financial calendar 2022 August 2, 2022 Conference Call Group Quarterly statement for the period from 1 January to June 30, 2022 September 15, 2022 Capital Market Day at drinktec 2022 in Munich November 4, 2022 Conference Call Group Olaf Scholz Head of Inves
Slide 28: Disclaimer
28 ｜KRONES Conference Call August 02, 2022 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 fo