Krones Ag · XETR:KRN
Krones — H1 2026 Earnings Presentation
31 slides from Krones's earnings presentation, Jul 29, 2026
Slide 1: Krones First Half Year 2026
Krones First Half Year 2026 Conference Call July 29, 2026 Thomas Ricker, CEO Uta Anders, CFO
Slide 2: Krones further increases order intake and profitability in first half of 2026
Krones further increases order intake and profitability in first half of 2026 Krones’ markets are generally Despite the difficult and EBITDA margin in HY1 2026 Krones confirms its targets less affected by economic volatile macroeconomic improved again from 10.6% for 2026. fluctuations and Krones’ co
Slide 3: Krones highlights 1st HY 2026
Krones highlights 1st HY 2026 €2.85 billion +1.8% 10.8% -€31 million Order intake Revenue* EBITDA margin Free cash flow w/o M&A (PY €2.73 billion) €2,775 million (PY 10.6%) (PY +€47 million) * adjusted for currency translation effects 3 Krones Conference Call July 29, 2026
Slide 4: Order intake (€ million)
Order intake (€ million) Order intake increases in HY1 2026; Order intake (€ million) pipeline is still robust 5,461 5,565 − Order intake rose significantly in the first +1.9% +1.6% 6 months 2026 to around €2.9 billion, 1,345 1,460 which is 4.5% higher than 2025 Q4 − Strong growth in North- and Sout
Slide 5: Order backlog (€ million)
Order backlog (€ million) Order backlog (€ million) − Order backlog after 6 months of 2026 remained at a very high level of 4,328 4,290 4,190 €4.3 billion +3.3% +4.1% -2.3% − With a stronger growth in order intake than revenue, the order backlog was increased since end of 2025 by 3.3% − Delivery tim
Slide 6: Internationally balanced customer and revenue split
Krones‘ internationally balanced customer and revenue split – is one of its strategic strengths: 52% sales in developed markets and 48% in emerging markets Share of revenues (1st HY) Europe Eastern Europe/ Central Asia North and 30.3% 30.9% Central America 28.6% 7.6% 7.0% 6.5% 23.3% 21.0% 2024 2025
Slide 7: Revenue development by quarter (€ million)
Revenue development by quarter (€ million) 5,664 Krones increased revenue in HY1 2026 to 5,294 +7.0% around €2.8 billion +12.1% − Despite difficult macroeconomic conditions, 1,556 1,419 sales rose by 1.8% to €2.8 billion in HY1 2026, mainly reflecting volume effects. In Q4 the first 6 months the adj
Slide 8: EBITDA and EBITDA margin further improved
EBITDA and EBITDA margin further improved (€ million and %) 602.3 EBITDA margin in HY1 2026 at 10.8% +12.2% EBITDA (€ million) 537.1 171.6 171.6 with EBITDA at €293 million +17.5% EBITDA margin 1st HY in % − EBITDA margin in HY1 2026 improved 146.0 again from 10.6% to 10.8% and is in line with our p
Slide 9: EBT and EBT margin by quarter
EBT and EBT margin by quarter (€ million and %) 424.1 +11.1% EBT margin decreased in HY1 2026 to 381.6 EBT (€ million) 121.8 7.3% vs. 7.5% prior year +22.9% EBT margin 1st HY in % − After 6 months in 2026, EBT decreased 106.0 by 3.8% to €198 million and a EBT Q4 margin of 7.3% 96.8 − EBT was influen
Slide 10: Personnel and material expenses HY1
Personnel and material expenses HY1 (€ million and %) − Because of more employees (+3%) in Personnel costs 1st HY Material costs 1st HY the last 12 months and raised wages (€ million) (€ million) and salaries in 2026 the personnel costs increased by 3%. The personnel 1,272 1,278 cost ratio for the f
Slide 11: Krones employees worldwide
Krones employees worldwide German Workforce decreased by 1.4% since end of 2025; outside of Germany headcount slightly increased by 0.8%, so a slight decrease of 0.4% worldwide. Total Germany RoW 21,339 21,249 20,379 Thereof KAG 11,312 11,735 11,566 9,067 9,604 9,683 9,883 9,734 9,539 31.12.2024 31.
Slide 12: Revenue and EBITDA per segment (1/3)
Revenue and EBITDA per segment (1/3) Filling and Packaging Technology Revenue development 1st HY Segment EBITDA (€ million) − In HY1 2026 the revenue in the core (€ million) and EBITDA margin (%) 1st HY 2,342* segment increased by 1.8% adjusted for 2,301 currency translation effects and is in the 2,
Slide 13: Revenue and EBITDA per segment (2/3)
Revenue and EBITDA per segment (2/3) Process Technology Revenue development 1st HY Segment EBITDA (€ million) − Revenue in HY1 2026 decreased by 3.7% (€ million) and EBITDA margin (%) 1st HY (adjusted for currency translation effects). Revenue in units and components business (pumps and valves) deve
Slide 14: Revenue and EBITDA per segment (3/3)
Revenue and EBITDA per segment (3/3) Intralogistics Revenue development 1st HY Segment EBITDA (€ million) − The revenue in the first 6 months 2026 (€ million) and EBITDA margin (%) 1st HY increased by 9.7% (adjusted for currency translation effects) − The EBITDA margin decreased from 7.1% to 5.3% ma
Slide 15: Krones strengthens its financial position
Krones strengthens its financial position; maintaining a robust capital base is essential to manage global economic volatility − With €405 million in cash Liquidity reserves Equity (€ million) and and €899 million in free 30.06.2026 equity ratio (in %) credit lines, Krones holds a solid financial fo
Slide 16: Working Capital 1st HY (in %)
Working Capital 1st HY (in %) Working Capital increased to 18.5% Working Capital of revenue 1st HY Part of Working Capital in % (vs. 17.1% prior year) (%, average over four quarters) of revenue (last 12 months) − Receivables/POC were quite stable end of HY1 2026. In absolute terms they slightly Rece
Slide 17: Free cash flow 1st HY 2026
Free cash flow 1st HY 2026 Net Cash at €405 million at the end of (€ million) 1st HY 2026 1st HY 2025 June 2026, up 8% year-on-year Earnings before taxes (EBT) 197.7 205.5 − The positive earnings performance and other +/– Other non-cash changes +116.8 +120.0 non-cash changes in HY1 2026 contributed
Slide 18: Acquisition of Wiro Präzisions-Werkzeugbau GmbH
Strengthening Krones product portfolio: Acquisition of Wiro Präzisions- Werkzeugbau GmbH Strategic Rational: − Strengthening Krones product portfolio for tools and molds for special purpose caps (as part of Filling and Packaging Technology) Acquisition Details: − Agreements for acquisition of 100% s
Slide 19: Free cash flow
Free cash flow Free cash flow in HY 2026 was influenced Free cash flow (without M&A) by increase in working capital in € million − After a very strong forth quarter 2025 Free cash flow in HY1 2026 was slightly 398 negative. In the second quarter of 2026 Krones significantly improved free cash flow a
Slide 20: ROCE
ROCE − ROCE decreased after 6 months in 2026 ROCE 1st HY 2024 – 2026* in to 17.7% % − This reduction is primarily driven by a 3% 18.8 19.0 decrease in EBIT during the first 6 months 17.7 2026 and a growth in working capital − The target for 2026 with a range of 19% to 20% reflects the further profit
Slide 21: Outlook 2026
Outlook 2026 21 Krones Conference Call July 29, 2026
Slide 22: Krones Outlook 2026
Krones Outlook 2026 further growth and improvement of profitability 3% – 5% 10.7% – 11.1% 19% – 20% Revenue growth* EBITDA margin ROCE *adjusted for currency translation effects There are various unpredictable factors that could affect the company’s business processes and production. These include g
Slide 23: Krones Outlook 2026 – Segment targets
Krones Outlook 2026 – Segment targets Filling and Packaging Process Intralogistics Technology Technology Revenue* 2% – 4% 0% – 5% 5% – 10% growth EBITDA 11.0% – 11.5% 9.0% – 10.0% 7.5% – 8.5% margin *adjusted for currency translation effects 23 Krones Conference Call July 29, 2026
Slide 24: Mid term targets 2028
Mid term targets 2028 ~€7 bn €5.7 bn Revenue, bn € ~7% Revenue CAGR 2025 2028 target 11% – 13% 10.6% EBITDA +0.4 – 2.4 ppt EBITDA margin, % 2025 2028 target 19.1% >20% >1 ppt ROCE ROCE, % 2025 2028 target 24 Krones Conference Call July 29, 2026
Slide 25: Key take aways
Key take aways 1. Krones further increases order intake and profitability in first half of 2026 2. With a strong order intake in HY1 2026 of €2.9 billion and a book-to-bill ratio of 1.05x the backlog was at €4.3 billion. The substantial order backlog largely ensures production capacity utilization f
Slide 26: Questions and Answers
Questions and Answers 26 Krones Conference Call July 29, 2026
Slide 27: Conference Call HY1 2026
Conference Call HY1 2026 27 Krones Conference Call July 29, 2026
Slide 28: Thank you for your attention!
Thank you for your attention! 28 Krones Conference Call July 29, 2026
Slide 29: Financial calendar 2026/2027
Financial calendar 2026/2027 November 6, 2026 Conference Call Group Quarterly statement for the period from January 1 to September 30, 2026 February 18, 2027 Conference Call Group Preliminary figures for the period from 1 January to December 31, 2026 May 5, 2027 Conference Call Group Quarterly state
Slide 30: Disclaimer
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 forward-looking statements of this presentati
Slide 31: Solutions beyond tomorrow
SOLUTIONS BEYOND TOMORROW