Krones Ag · XETR:KRN
Krones — Q3 2022 Earnings Presentation
25 slides from Krones's earnings presentation, Nov 4, 2022
Slide 1: Krones Q3 2022 Conference Call
Krones Q3 2022 Conference Call November 04, 2022 Christoph Klenk, CEO Norbert Broger, CFO
Slide 2: Krones continues profitable growth and raised sales guidance for 2022
2 ｜Krones Conference Call November 04, 2022 Krones continues profitable growth despite continuing global challenges and raised sales guidance for 2022 Summary Q1 – Q3 2022 After two very strong Revenue growth in 9 months With first impacts of price Despite various global challenges, quarters in 2022
Slide 3: Krones highlights Q1–Q3 2022
3 ｜Krones Conference Call November 04, 2022 Krones highlights Q1 – Q3 2022 Order intake Revenue EBITDA margin Free cash flow +44.1% +15.2% 8.9% +€132 million €4.60 billion €3,044 million (PY 8.0%) (PY +€108 million)
Slide 4: Q3 Order intake and orders on hand
4 ｜Krones Conference Call November 04, 2022 Q3 Order intake and orders on hand (€ million) Market demand still very high. 4,600 Order intake 4,316 +44.1% Order intake and orders on hand Orders on hand on all time high +30.5% 1,493 1,124 ▪ After two very strong quarters in 3,307 2022 the order intake
Slide 5: Revenue development by quarter
5 ｜Krones Conference Call November 04, 2022 Revenue development by quarter (€ million) 3,634 Strong sales growth in third 3,323 +9.4% quarter (+15%); guidance for full -16.1% 991 3,044 year increased to 10-12% 874 +15.2% ▪ Revenue was increased in 9 months Q4 2022 by 15.2% compared to prior 1,059 ye
Slide 6: Revenue split reflects world-wide business activity with regained strength in industrial countries
6 ｜Krones Conference Call November 04, 2022 Revenue split reflects the world-wide business activity of Krones, with a regained strength in industrial countries Share of sales (Q1 – Q3) Eastern Europe/ Russia/Central Asia 2020 2021 2022 North and Europe 6.7% 6.9% 5.2% Central America 2020 2021 2022 2
Slide 7: EBITDA and EBITDA margin strongly improved
7 ｜Krones Conference Call November 04, 2022 EBITDA and EBITDA margin strongly improved (€ million and %) 312.6 EBITDA at €270 million and +134.7% EBITDA margin at 8.9% 270.1 100.0 +27.0% ▪ As a result of performance Q4 optimizations EBITDA margin with 95.0 8.9% above the margin of 9 months 2021 (8.0
Slide 8: EBT and EBT margin by quarter
8 ｜Krones Conference Call November 04, 2022 EBT and EBT margin by quarter (€ million and %) 176.6 177.3 +49.2% EBT at €177 million and 58.9 EBT margin increased to 5.8% 63.4 Q4 ▪ EBT increased after 9 months 2022 by Q3 49% to €177 million and EBT margin was at 5.8% vs. 4.5% prior year 42.7 ▪ EBT mar
Slide 9: Personnel and material expenses Q1 - Q3
9 ｜Krones Conference Call November 04, 2022 Personnel and material expenses Q1 - Q3 (€ million and %) Personnel cost Q1 - Q3 (€ million) Material cost Q1 - Q3 (€ million) 917 ▪ Personnel cost ratio with 29.9% clearly 868 better than last year (32.6%) and further 838 decreased vs. 1st HY 2022 (30.6%)
Slide 10: Krones employees worldwide
10 ｜Krones Conference Call November 04, 2022 Krones employees worldwide – slight growth in Germany after prior years capacity adjustment programs and a further growth in the rest of the world 16,736 16,303 16,795 Total Germany RoW 10,364 10,012 9,821 6,372 6,482 6,783 31.12.2020 31.12.2021 30.09.202
Slide 11: Working Capital Q1 – Q3
11 ｜Krones Conference Call November 04, 2022 Working Capital Q1 – Q3 (in %) Strong decrease in Working Capital Working Capital of revenue Q1 – Q3 Part of Working Capital in % with 20.5% vs. 26.2% prior year (%, average over four quarters) of revenue (last 12 months) ▪ Based on higher business activi
Slide 12: ROCE
12 ｜Krones Conference Call November 04, 2022 ROCE ▪ ROCE, as the new third target ROCE Q1 - Q3 2020 - 2022* in % figure, is with 12.4% in line with expectations for FY 2022 and also slightly above our target range (10% to 12%) 12.4 ▪ The positive development of the last years mainly based on higher
Slide 13: Revenue and EBITDA per segment: Filling and Packaging Technology
13 ｜Krones Conference Call November 04, 2022 Revenue and EBITDA per segment Filling and Packaging Technology Revenue development Q1 - Q3 Segment EBITDA (€ million) and (€ million) EBITDA margin (%) Q1 - Q3 ▪ Increase in revenue are at group level (+15%) – driven primarily by new equipment sales 2,55
Slide 14: Revenue and EBITDA per segment: Process Technology
14 ｜Krones Conference Call November 04, 2022 Revenue and EBITDA per segment Process Technology Revenue development Q1 - Q3 Segment EBITDA (€ million) and (€ million) EBITDA margin (%) Q1 - Q3 ▪ Revenues increased vs. prior year by 13.5%; strong growth in Q4 expected 14.8 267 ▪ Guidance for revenue g
Slide 15: Revenue and EBITDA per segment: Intralogistics
15 ｜Krones Conference Call November 04, 2022 Revenue and EBITDA per segment Intralogistics Revenue development Q1 - Q3 Segment EBITDA (€ million) and (€ million) EBITDA margin (%) Q1 - Q3 ▪ After a strong recovery in revenue in 2021 (+54%) based on high 225 negative influences in 2020 by Covid-19, t
Slide 16: Krones financially very strong; resilient capital position
16 ｜Krones Conference Call November 04, 2022 Krones financially very strong; resilient capital position of Krones to withstand volatile world economy developments Liquidity reserves Q1 – Q3 2022 ~ €1.4bn Equity (€ million) and equity ratio (in %) Used credit lines €5m 1,548 1,392 Cash 1,200 €446m To
Slide 17: Free cash flow Q1 – Q3
17 ｜Krones Conference Call November 04, 2022 Free cash flow Q1 – Q3 Further improvements in cashflows (€ million) 2022 2021 ▪ Operating activities with €210 million in 2022 Earnings before taxes (EBT) 176.6 118.4 (vs. €182 million prior year) were influenced +/– Other non-cash changes +147.8 +192.7
Slide 18: Cashflow and cash conversion rate
18 ｜Krones Conference Call November 04, 2022 Cashflow and cash conversion rate Free cashflow increased by 23% vs. Free cashflow Q1 - Q3 Cash conversion rate Q1 - Q3 prior year (without M&A) in € million (FCF/net income* in %) 132 117 103 ▪ Cash conversion rate in 2022 at 103%; 108 small decrease vs.
Slide 19: Outlook
Outlook 2022
Slide 20: Krones Outlook 2022
20 ｜Krones Conference Call November 04, 2022 Krones Outlook 2022 – a strong confirmation despite challenging times Global supply chain shortages and interruptions, strong inflation in many Kernaussage countries, political risks in Europe and other parts of the world as well as exchange rate volatili
Slide 21: Key take aways
21 ｜Krones Conference Call November 04, 2022 Key take aways 1. Record order intake and order backlog – excellent base for 2023 2. Revenues recovering and capacity utilization improving 3. Strong improvement in profitability, due to efficiency improvement measures and strong service business in all r
Slide 22: Questions and Answers
Questions and Answers 2
Slide 23: Thank you for your attention!
Thank you for your attention!
Slide 24: Financial calendar 2023
24 ｜Krones Conference Call November 04, 2022 Financial calendar 2023 February 23, 2023 Conference Call Group Preliminary figures for the period from 1 January to December 31, 2022 May 5, 2023 Conference Call Group Quarterly statement for the period Olaf Scholz from 1 January to March 31, 2023 Head o
Slide 25: Disclaimer
25 ｜Krones Conference Call November 04, 2022 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