Krones Ag · XETR:KRN
Krones — H1 2018 Earnings Presentation
16 slides from Krones's earnings presentation, Jul 26, 2018
Slide 1: KRONES First Half Year 2018
KRONES First Half Year 2018 Conference Call July 26, 2018
Slide 2: Krones Highlights 1st HY 2018
2 ｜KRONES Conference Call July 26, 2018 Krones Highlights 1st HY 2018 + 13% 2,014.8 € Mio. 1,790.8 Revenue (+1%) € Mio. New orders 6.3% -48.9 Operating free cash flow € Mio. (PY -126.7 € Mio.) 112.7 € Mio. EBT margin
Slide 3: Strong order intake in Q1 and Q2 2018
3 ｜KRONES Conference Call July 26, 2018 Strong order intake in Q1 and Q2 2018 New orders by quarter (€ million) 3,787 +10% 3,441 +8% 1,090 989 +10% +13% Q4 918 850 2,015 +8% +13% +8% Q3 1,022 904 +13% 780 +16% Q2 +6% 993 875 +13% 822 Q1 +6% +4% 2016 2017 2018 1,145 1,240 1,464 (June 30) Orders on ha
Slide 4: Revenue increase slightly from high prior-year figure
4 ｜KRONES Conference Call July 26, 2018 Revenue increase slightly from high prior-year figure Revenue development by quarter (€ million) 3,691 +9% 3,391 +7% 1,182 +17% 1,011 +12% Q4 734 820 -11% 1,791 Q3 +7% +1% 876 899 788 +11% +3% Q2 +3% 899 892 Q1 772 +17% -1% +4% 2016 2017 2018
Slide 5: Krones' revenue is well balanced
5 ｜KRONES Conference Call July 26, 2018 Krones' revenue is well balanced Share of revenue (1st HY) North America CIS/Central Asia 2017 2018 2017 2018 15.2% 13.8% 2.1% 2.3% South America China 2017 2018 2017 2018 11.1% 12.7% 6.3% 6.8% Europe Asia/Pacific 2017 2018 2017 2018 37.9% 37.2% 13.2% 12.7% Af
Slide 6: Stable EBT margin in Q2
6 ｜KRONES Conference Call July 26, 2018 Stable EBT margin in Q2 EBT by quarter (€ million) EBT margin by quarter (%) 258.8 237.6 +9% +6% 8,0% 90.8 Q4 74.0 7.7% 7,5% 7.3% 7.3% 47.0 2017 Q3 56.3 112.7 2016 7,0% -7% 7.1% 55.0 56.5 6.9% Q2 52.2 6,5% 6.6% 55.1 66.0 56.2 2018 6.4% Q1 6.3% 6.3% 6,0% 2016 2
Slide 7: Material and personnel cost
7 ｜KRONES Conference Call July 26, 2018 Material and personnel cost Material cost 1st HY (€ million) 896.2 826.2 749.4 49.6 48.0 48.2 2016 2017 2018 Material cost to total performance (%) Personnel cost 1st HY (€ million) 540.1 574.4 496.0 31.8 31.8 31.5 2016 2017 2018 Personnel cost to total perfor
Slide 8: Krones continues to grow its workforce in Emerging Markets
8 ｜KRONES Conference Call July 26, 2018 Krones continues to grow its workforce in Emerging Markets KRONES employee worldwide KRONES employee development in the Emerging Markets 15,568 Year South Africa Asia CIS/East China Total 15,299 America Europe 14,443 2016 549 386 602 155 508 2,200 31.12. 2017
Slide 9: Product filling and decoration
9 ｜KRONES Conference Call July 26, 2018 Product filling and decoration New core segment influenced by cost increase Revenue development 1st HY EBT development 1st HY MEDIUM-TERM TARGETS: (€ million) (€ million) 4 ‒ 6% 1,499* 1,530 1,401* + 2% 121.1* +7 % 116.5 +5 % 108.7* +12 % - 4% +8 % Growth 8% 7
Slide 10: Beverage production/process technology
10 ｜KRONES Conference Call July 26, 2018 Beverage production/process technology Revenue and earnings decrease with stabilization in Q2 Revenue development 1st HY EBT development 1st HY MEDIUM-TERM TARGETS: (€ million) (€ million) 8 ‒ 10 % 276 261 +74 % - 5% 159 -9 % 2016 -0.9% -1.4 2017 -0.1 0.0% 20
Slide 11: Working capital too high – new FY 2018 target
11 ｜KRONES Conference Call July 26, 2018 Working capital too high – new FY 2018 target Working capital* in % ROCE* in % (1st HY) of revenue (1st HY) 28.8 26.3 16.3 25.5 15.6 15.5 2016 2017 2018 2016 2017 2018 *LTM (Last Twelve Months)
Slide 12: Krones significantly improved cash flow from operating activities and free cash flow
12 ｜KRONES Conference Call July 26, 2018 Krones significantly improved cash flow from operating activities and free cash flow 1st HY (€ million) 2018 2017 Earnings before taxes 112.7 121.0 +/– Non-cash changes +82.0 +22.8 +/– Change in Working Capital -79.1 -151.9 +/– Other assets and liabilities -1
Slide 13: Krones targets 2018
13 ｜KRONES Conference Call July 26, 2018 Krones targets 2018 Revenue growth EBT margin Working Capital/ Revenue 6% 7.0% 28%
Slide 14: Thank you for your attention!
Slide 15: Financial calender 2018
15 ｜KRONES Conference Call July 26, 2018 Financial calender 2018 October 25, 2018 Conference Call Group Q3 2018 and Quarterly Statement as per September 30 Olaf Scholz Head of Investor Relations KRONES AG Böhmerwaldstrasse 5 93073 Neutraubling Germany Phone +49 9401 70-1169 Fax +49 9401 70-911169
Slide 16: Disclaimer
16 ｜KRONES Conference Call July 26, 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 forw