Krones Ag · XETR:KRN
Krones — Q3 2021 Earnings Presentation
22 slides from Krones's earnings presentation, Nov 5, 2021
Slide 1: Krones Q3 2021 Conference Call
Krones Q3 2021 Conference Call 05 November 2021 Christoph Klenk, CEO Norbert Broger, CFO
Slide 2: After strong third quarter updated full year guidance confirmed
2 ｜KRONES Conference Call November 5, 2021 After strong third quarter updated full year guidance confirmed Summary Q1 - Q3 2021 Customers’ demand remain Nine months 2021 Profitability Based on the positive very high and results in revenue of significantly improved trend, Krones is confident increase
Slide 3: Krones highlights Q1 – Q3 2021
3 ｜KRONES Conference Call November 5, 2021 Krones highlights Q1 – Q3 2021 Order intake Revenue EBITDA margin Free cash flow +38.8% +7.9% 8.0% +€108 million €3.19 billion €2.6 billion (PY 6.0%) (PY €-58 million)
Slide 4: Order intake and orders on hand (€ million)
4 ｜KRONES Conference Call November 5, 2021 Order intake and orders on hand (€ million) Sustainable growth in 4,084 Order intake 3rd quarter 2021 +3.2% Orders on hand 1,126 Compared to Q3 2020, 3,307 Q4 3,193 order intake in Q3 2021 had -19.0% +38.8% an increase of 36.1%. 1,006 Highest order intake
Slide 5: Revenue development by quarter (€ million)
5 ｜KRONES Conference Call November 5, 2021 Revenue development by quarter (€ million) 3,959 Revenue growth at Krones +2.7% accelerated in 3rd quarter 1,069 2021 3,323 Q4 -16.1% Revenue was increased in 874 Q3 2021 by 23%, compared 2,643 to prior year +7.9% 1,000 Revenue in Q3 higher than Q3 923
Slide 6: Revenue split reflects the world-wide business activity of Krones
6 ｜KRONES Conference Call November 5, 2021 Revenue split reflects the world-wide business activity of Krones, with a regain strength in industrial countries Share of sales (Q1 – Q3) Eastern Europe/ Russia/Central Asia 2019 2020 2021 North and Europe 7.6% 6.7% 6.9% Central America 2019 2020 2021 2019
Slide 7: EBITDA and EBITDA margin by quarter (€ million and %)
7 ｜KRONES Conference Call November 5, 2021 EBITDA and EBITDA margin by quarter (€ million and %) 227.3 EBITDA margin at 8.0% -25.7% EBITDA (€ million) 212.6 63.0 EBITDA margin in % (YTD September) +44.3% Significantly improved 74.9 profitability impacted by structural measures and strong Q4 133.2
Slide 8: EBT and EBT margin by quarter (€ million and %)
8 ｜KRONES Conference Call November 5, 2021 EBT and EBT margin by quarter (€ million and %) 118.4 EBT margin after 9 month was EBT (€ million) +343.4% at 4.5% EBT margin in % (YTD September) Q3 42.7 Strong increase after 9 months 2021 compared 41.7 4.5% with 2020 margin -79.6% Q2 31.1 (1.6% without
Slide 9: Personnel and material expenses Q1 – Q3 (€ million and %)
9 ｜KRONES Conference Call November 5, 2021 Personnel and material expenses Q1 – Q3 (€ million and %) Personnel cost ratio with Personnel cost Q1 – Q3 (€ million) Material cost Q1 – Q3 (€ million) 32.6% clearly better than 945 last year. Positive effects from 838 868 structural measures show 1,488
Slide 10: Krones employees worldwide – capacity adjustment program successfully completed
10 ｜KRONES Conference Call November 5, 2021 Krones employees worldwide – capacity adjustment program successfully completed Total Germany RoW 17,353 16,736 16,180 10,733 10,364 9,803 6,620 6,372 6,377 31.12.2019 31.12.2020 30.09.2021
Slide 11: Working Capital Q1 – Q3 (in %)
11 ｜KRONES Conference Call November 5, 2021 Working Capital Q1 – Q3 (in %) Working Capital in % of sales Working capital of revenue Part of working capital in % with 26.2% reduced vs. prior (%, average over four quarters) of revenue (last 12 months) year and slightly below 2019 28.3 Receivables 26.9
Slide 12: Revenue and EBITDA per segment
12 ｜KRONES Conference Call November 5, 2021 Revenue and EBITDA per segment Product filling and decoration Revenue development Q1 – Q3 Segment EBITDA (€ million) and (€ million) EBITDA margin (%) Q1 – Q3 Increase in revenue little Product 2,418 202.3 below than on group level (+6%) filling and 2,09
Slide 13: Revenue and EBITDA per segment II
13 ｜KRONES Conference Call November 5, 2021 Revenue and EBITDA per segment II Process technology Revenue development Q1 – Q3 Segment EBITDA (€ million) and (€ million) EBITDA margin (%) Q1 – Q3 Revenues normal stable Process 230 235 vs. prior year (-11%) technology +5.5 Positive EBITDA margin in
Slide 14: Krones is very well positioned financially
14 ｜KRONES Conference Call November 5, 2021 Krones is very well positioned financially Net cash, free credit lines and high equity ratio in Q3 Liquidity reserves Q1 – Q3 2021 > €1.3 billion Equity (€ million) and equity ratio (in %) Used credit lines €5 million 1,370 Cash 1,303 €289 million Total €1
Slide 15: Free cash flow Q1 – Q3
15 ｜KRONES Conference Call November 5, 2021 Free cash flow Q1 – Q3 Free cash flow €165 million (€ million) 2021 2020 higher than in Q3 2020 Earnings before taxes (EBT) 118.4 26.7 Strong EBT and increasing +/– Other non-cash changes +192.7 +176.6 non-cash changes result in +/– Change in Working Cap
Slide 16: Outlook 2021
Outlook 2021
Slide 17: Krones Outlook 2021
17 ｜KRONES Conference Call November 5, 2021 Krones Outlook 2021 We confirm our Kernaussage increased guidance for 2021 Revenue EBITDA margin Working capital 7% – 9% 7% – 8% 26% – 27%
Slide 18: Key take aways
18 ｜KRONES Conference Call November 5, 2021 Key take aways 1. Record order intake and order backlog – good base for 2022 2. Revenues recovering and capacity utilization improving 3. Strong improvement in profitability, due to efficiency improvement measures and strong service business in all regions
Slide 19: Questions and Answers
Questions and Answers 2
Slide 20: Thank you for your attention!
Thank you for your attention!
Slide 21: Financial calendar 2022
21 ｜KRONES Conference Call November 5, 2021 Financial calendar 2022 February 24, 2022 Conference Call Group Preliminary figures for the period from 1 January to December 31, 2021 May 6, 2022 Conference Call Group Quarterly statement for the period Olaf Scholz from 1 January to March 31, 2022 Head of
Slide 22: Disclaimer
22 ｜KRONES Conference Call November 5, 2021 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 f