Krones Ag · XETR:KRN
Krones — FY2017 Earnings Presentation
17 slides from Krones's earnings presentation, Feb 22, 2018
Slide 1: Financial Year 2017 Preliminary Figures
KRONES Financial Year 2017 Preliminary Figures Conference Call February 22, 2018
Slide 2: KRONES Highlights 2017
2 ｜KRONES Conference Call February 22, 2018 KRONES Highlights 2017 + 10% 3,787 € Mio. 3,691 Revenue (+9%) € Mio. New orders Operating cash flow -118.2 7.0% € Mio. (PY 88.9 € Mio.) 258.8 € Mio. EBT margin
Slide 3: Strong order intake – especially in Q4
3 ｜KRONES Conference Call February 22, 2018 Strong order intake – especially in Q4 New orders by quarter (€ million) 3,787 +10% 3,441 3,189 +8% +5% 1,090 989 +10% 878 +13% Q4 +4% 918 787 850 +8% +7% +8% Q3 780 904 737 +6% +16% Q2 +2% 787 822 875 Q1 +6% +7% +4% 2015 2016 2017 1,095 1,145 1,241 Orders
Slide 4: Revenue increase above expectation
4 ｜KRONES Conference Call February 22, 2018 Revenue increase above expectation Revenue development by quarter (€ million) 3,691 3,391 +9% 3,174 +7% +7% 1,182 1,011 +17% 903 +12% Q4 +14% 820 734 767 +7% -10% Q3 +5% 876 765 788 Q2 +11% +4% +3% 899 739 772 Q1 +17% +5% +4% 2015 2016 2017
Slide 5: KRONES' revenue is well balanced
5 ｜KRONES Conference Call February 22, 2018 KRONES' revenue is well balanced Share of revenue North America CIS/Central Asia 2016 2017 2016 2017 15.0% 14.8% 2.1% 1.5% South America China 2016 2017 2016 2017 9.3% 11.9% 9.5% 6.9% Europe Asia/Pacific 2016 2017 2016 2017 35.4% 36.0% 11.9% 13.6% Africa/M
Slide 6: EBT increased as expected
6 ｜KRONES Conference Call February 22, 2018 EBT increased as expected EBT by quarter (€ million) EBT margin by quarter (%) 258.8 8,0% +9% 237.6 7.7% 223.3 +6% +16% 90.8 74.0 7,5% 7.3% 7.4% Q4 67.2 2017 7.3% 2016 47.0 7.1% Q3 56.3 7,0% 7.0% 6.9% 52.0 2015 55.0 6.8% 6.8% 52.2 Q2 53.9 6.6% 6,5% 66.0 6.
Slide 7: Personnel and material cost
7 ｜KRONES Conference Call February 22, 2018 Personnel and material cost Personnel cost (€ million) 1,061.4 974.3 919.1 853.3 28.7 29.9 29.1 29.0 2014 2015 2016 2017 Personnel cost to total performance (%) Material cost (€ million) 1,859.4 1,589.3 1,609.7 1,440.8 49.2 49.7 49.4 50.9 2014 2015 2016 20
Slide 8: Product filling and decoration: Margin further improved
8 ｜KRONES Conference Call February 22, 2018 Product filling and decoration Margin further improved Revenue development EBT development MEDIUM-TERM TARGETS: (€ million) (€ million) 2,706 +9% 2,815 +4% 2,965 +5% 220.5 +14% 229.6 +4% 257.0 +12% 4 ‒ 6% Growth 8.7% EBT margin 8% 8.1% 8.2% 2015 2016 2017
Slide 9: Beverage production/process technology: Very strong growth but result below expectations
9 ｜KRONES Conference Call February 22, 2018 Beverage production/process technology Very strong growth but result below expectations Revenue development EBT development MEDIUM-TERM TARGETS: (€ million) (€ million) 359 +0% 454 +26% 601 +32% -0.6 0.3 1.6 -0.7 8 ‒ 10 % Growth -2.1 2015 2016 2017 -4.5 EB
Slide 10: Compact class: Stable development
10 ｜KRONES Conference Call February 22, 2018 Compact class Stable development Revenue development EBT development (€ million) (€ million) 122 125 +2% 109 +12% 2015 2016 2017 +7% 6.4 6.3 4.9 5.2 5.0 4.5 2015 2016 2017 2015 2016 2017 EBT margin in %
Slide 11: Working capital target achieved
11 ｜KRONES Conference Call February 22, 2018 Working capital target achieved Working capital* in % ROCE* in % of revenue 26.7 27.3 17.0 16.6 2016 2017 2016 2017 *LTM (Last Twelve Months)
Slide 12: Higher working capital and acquisitions caused decreasing free cash flow
12 ｜KRONES Conference Call February 22, 2018 Higher working capital and acquisitions caused decreasing free cash flow (€ million) 2017 2016 Earnings before taxes 258.8 237.6 +/– Non-cash expenses and income +46.4 +158.6 +/– Change in Working Capital -188.6 -96.4 +/– Other assets and liabilities -122
Slide 13: Krones targets 2017
13 ｜KRONES Conference Call February 22, 2018 Krones targets 2017 Revenue growth Target: ✓ EBT margin Target: ✓ Working Capital Target: ✓ +4% 7.0% 27%
Slide 14: Krones targets 2018
14 ｜KRONES Conference Call February 22, 2018 Krones targets 2018 Annual revenue EBT margin Working Capital growth 6% 7.0% 26%
Slide 15: Thank you for your attention!
Slide 16: Financial calender 2018
16 ｜KRONES Conference Call February 22, 2018 Financial calender 2018 February 22, 2018 Preliminary figures 2017 March 15, 2018 Annual Report 2017 April 26, 2018 Conference Call Group Q1 2018 and Quarterly Statement as per March 31 June 13, 2018 Annual General Meeting Olaf Scholz July 26, 2018 Confer
Slide 17: Disclaimer
17 ｜KRONES Conference Call February 22, 2018 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