logo
Plus   Neg
Share
Email

Krones Backs FY19 Outlook For Revenue Growth, Margin; Dividend Stable

Beverage filling and packaging company Krones AG (KRNTY.PK,KRNNF.PK) on Thursday said it continues to expect fiscal 2019 revenue to grow by 3% and the EBT margin to increase to approximately 6%.

Krones said its sales price increases on all bottling and packaging equipment and for process technology with effect from May 1, 2018 are likely to have a slight positive effect on earnings in the 2019 financial year.

The company noted that due to the focus on increases in the sales price level, in the current economic and geopolitical climate, Krones sees the achievement of its targets for 2019 subject to greater uncertainties than in the past. For its third performance target, working capital to revenue, Krones expects a figure of 26%.

In fiscal 2018, revenues were 3.85 billion euros, and EBT margin was 5.3 percent.

The company plans to hold the dividend stable relative to the previous year with a dividend of 1.70 euros per share for 2018.

Krones also confirmed its preliminary figures for fiscal 2018 published on February 21.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Comcast Corp. on Thursday reported a 14 percent increase in profit for the first quarter from last year on a double-digit growth in revenues. Adjusted earnings per share for the quarter beat analysts' expectations, while revenues missed their estimates. Total customer relationships increased by 3.6 percent to 30.7 million in the quarter and include net additions of 300,000. French banking major Societe Generale's covered bond vehicle Societe Generale SFH has issued 100-million euros-covered bond as a security token on the Ethereum blockchain. In a statement, the lender said, "obligations de financement de l'habitat" or OFH Tokens, backed by covered bonds, have been rated Aaa / AAA by Moody's and Fitch and have been fully subscribed by the parent. Ford Motor Co. plans to invest $500 million in electric truck maker Rivian, the companies said Wednesday. They will also work together to develop an all-new battery electric vehicle for Ford using Rivian's skateboard platform. Ford's investment comes just months after Rivian revealed two new products, an all-electric pickup and SUV.
Follow RTT