Krones Ag · XETR:KRN
Krones — Q1 2014 Earnings Presentation
22 slides from Krones's earnings presentation, Apr 30, 2014
Slide 1: Conference Call FY 2013 and Q1 2014
krones 1｜ krones Highlights Sample textQ1 2014 Shaping success Conference Call FY 2013 and Q1 2014 April 30, 2014
Slide 2: Highlights 2013
krones 2｜ krones Highlights Sample textQ1 2014 Highlights 2013 KRONES continues solid, profitable growth trend − Revenue improved by 5.7% from €2,664.2 million in 2012 to €2,815.7 million in 2013 slightly above expectation. − KRONES generated an EBT margin of 6.0% in 2013 and managed to reach the to
Slide 3: Preliminary figures 2013 confirmed
krones 3｜ krones Highlights Sample textQ1 2014 Preliminary figures 2013 confirmed Financial year 2013 2012 2011 2010 Sales revenues in €bn 2.82 (+6%) 2.66 (+7%) 2.48 (+14%) 2.17 (+17%) EBT in €m 169 (+71%) 99 (+32%) 75 (+15%) 71 (-) Net income (after tax) in €m 119 (+75%) 68 (+54%) 44 (+5%) 51 (-) R
Slide 4: KRONES 2013 targets fully achieved
krones 4｜ krones Highlights Sample textQ1 2014 KRONES 2013 targets fully achieved 2,816 Targets 2013 2,664 + 5.7% + 7.4% 2,480 + 14.1% − Sales 2.75 €bn 2,381 2,156 + 10.4% 2,173 − Growth 4% + 12.8% + 16.5% 1,911 1,865 − EBT 165 €m + 12.7% - 21.7% 7.1% − ROS 5.8 – 6.0% 6.6% 5.7% 6.0% 3.7% Achieved ta
Slide 5: Earnings performance and segments
krones 5｜ krones Highlights Sample textQ1 2014 Earnings performance and segments EBT-Performance (in € million) +71% Earnings performance by segment (in € million) +40% +2% –125% 169.7 Earnings Earnings 2012 + 46 % 2013 153.6 156.1 Machines and lines for product 174.5 filling and 120.4 109.6 +33% de
Slide 6: Economic outlook per region
krones 6｜ krones Highlights Sample textQ1 2014 Economic outlook per region Development of GDP 2013 – 2015 (as of April 2014) 6 CIS 3.1 3.1 Global 2.6 2.3 2.1 2.1 2 USA 3.7 3.6 3.9 3.9 3.0 3.0 2.8 2.8 3.0 3.0 2013 e2014 e2015 1.9 1.9 1 Europe 3 China 1.0 1.2 1.4 1.5 7.7 7.7 7.5 7.5 2013 e2014 e2015 7
Slide 7: Highlights Q1 2014
krones 7｜ krones Highlights Sample textQ1 2014 Highlights Q1 2014 KRONES is right on schedule after the first quarter − Revenue improved 2.9% to €703.0 million in the period from January to March 2014. − New orders were up 7.8% to €738.8 million. − Earnings performance increased further. EBT margin
Slide 8: With a 8% increase in orders received in Q1 KRONES is on track for 2014
krones 8｜ krones Highlights Sample textQ1 2014 With a 8% increase in orders received in Q1 KRONES is on track for 2014 Trend by region Orders on hand Orders received 2012 2013 2014 in €m in €m +3% +3% +8% Central Europe +5% +3% 2,809 2,721 Western Europe 1,001 1,028 954 2,514 705 931 753 -6% Eastern
Slide 9: Sales increased by 3% in Q1 2014, but sales split does not reflect full year
krones 9｜ krones Highlights Sample textQ1 2014 Sales increased by 3% in Q1 2014, but sales split does not reflect full year Sales Q1 Sales per Region (in €m) +3% Germany 89.5 12.7% +5% +7% 703 Central Europe 27.9 4.0% 683 649 Western Europe 116.4 16.6% 607 Eastern Europe 31.6 4.5% CIS and Central As
Slide 10: EBT-Margin increased significantly based on higher productivity
10 krones ｜kronesSample text Highlights Q1 2014 EBT-Margin increased significantly based on higher productivity EBT in €m Q1 Material costs in €m Q1 340.5 330.9 319.8 306.3 50.8 50.0 +11% 48.6 48.0 +20% -8% 43.1 38.9 2011 2012 2013 2014 Material costs to total performance in % 35.2 32.5 6.1 5.7 5.8
Slide 11: Product filling and packaging: cost efficiency program increases margin
11 krones ｜kronesSample text Highlights Q1 2014 Product filling and packaging: cost efficency program increases margin Sales development Q1 +1% - 0.2% 575 574 568 Key Topics 2014 − Taking our LCS business further into the regions 2012 2013 2014 − Reducing costs now to offset future cost increases EB
Slide 12: Contiform AseptBloc – new standard for aseptic beverage filling
12 krones ｜kronesSample text Highlights Q1 2014 Contiform AseptBloc – new standard for aseptic (germ-free) beverage filling − Minimum media consumption compared to conventional aseptic solutions − Further reduction of TCO for filling of sensitive beverages such as juices, iced tea, energy drinks, an
Slide 13: Process technology: turnaround with positive EBT margin
13 krones ｜kronesSample text Highlights Q1 2014 Process technology: turnaround with positiv EBT margin Sales development Q1 +26% +49% 103 82 Key Topics 2014 55 − Expansion of the component business (Operativ start of Evoguard in 2014 and Acquisition of HST Homogenizers) 2012 2013 2014 − Extension of
Slide 14: Process technology for Softdrinks – syrup room by KRONES
14 krones ｜kronesSample text Highlights Q1 2014 Process technology for Softdrinks – syrup room by KRONES − The design is composed of sugar dissolving unit, sugar syrup pasteuriser and powder solving unit − The modular unit design enables to process different raw material qualities − A new software a
Slide 15: KOSME: balanced utilisation in Q1 results in a break-even
15 krones ｜kronesSample text Highlights Q1 2014 KOSME: balanced utilisation in Q1 results in a break-even Sales development -0.8% +3% 26.3 26.1 25.5 Achivements 2013 − Further development of the LCS business − Repositioning in the food and health care market 2012 2013 2014 Measures 2014 EBT developm
Slide 16: ROCE and working capital improved again
16 krones ｜kronesSample text Highlights Q1 2014 ROCE and working capital (KRONES Group) improved again ROCE Working Capital 16.7% 15.1% 15.6% 15.3% 25.7% 24.2% 25.2% 15.4% 25.0% 21.2% 24% 2014 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Average 2013 KRONES generated a ROCE of 15.4% which is in line with full year
Slide 17: Free Cash flow doubled in first 3 months 2014
17 krones ｜kronesSample text Highlights Q1 2014 Free Cash flow doubled in first 3 month 2014 Q1 2014 Q1 2013 Earnings before tax in €m 43.1 38.9 +/- non-cash expenses and income in €m 76.1 64.6 +/- change in Working Capital in €m -135.9 -162.4 +/- other (mainly tax payments) in €m -10.9 -6.2 Cash fl
Slide 18: Balance sheet in € million
18 krones ｜kronesSample text Highlights Q1 2014 Balance sheet in € million Assets Equity and liabilities 2,238 2,297 Total 2,238 2,297 Total 2,070 Property, plant and 2,070 equipment, 605 (27%) 598 (26%) intangible assets and 587 (28%) financial assets 797 (39%) 953 (43%) 978 (43%) Non-current asset
Slide 19: Targets for 2014 confirmed
19 krones ｜kronesSample text Highlights Q1 2014 Targets for 2014 confirmed In 2014, KRONES will focus even further on the value strategy for profitable growth. KRONES is confident to achieve the three targets: − Revenue growth of 4% − EBT Margin of around 6.2% − ROCE above 16%
Slide 20: Thank you!
20 krones ｜kronesSample text Highlights Q1 2014 Thank you! Vielen Dank!
Slide 21: Financial calendar
21 krones ｜kronesSample text Highlights Q1 2014 Financial calendar Annual General Meeting 25.06.2014 (Neutraubling) Interim report 24.07.2014 as per June 30th 2014 Olaf Scholz Head of Interim report 23.10.2014 Investor Relations and as per September 30th 2014 International Group Accounting Phone +49
Slide 22: Disclaimer
22 krones ｜kronesSample text Highlights Q1 2014 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. T