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Krones FY19 Earnings Down; Revenue, Orders Rise - Quick Facts

Beverage filling and packaging company Krones AG (KRNTY.PK,KRNNF.PK) reported Thursday that its fiscal 2019 consolidated earnings before taxes or EBT decreased to 41.7 million euros from 204.3 million euros in the previous year. The EBT margin dropped to 1.1 percent from 5.3 percent last year.

The company noted that profitability was affected by high personnel costs and one-time expenses for restructuring and impairments.

Without one-off effects, the EBT margin would be 2.8 percent, in line with the guidance of around 3 percent.

EBITDA decreased to 227.3 million euros from 305.9 million euros a year ago. The EBITDA margin was 5.7 percent, down from previous year's 7.9 percent.

Consolidated revenue increased 2.7 percent to 3.96 billion euros from 3.85 billion euros a year ago.

The company's order intake improved 3.2 percent to 4.08 billion euros from 3.96 billion euros last year.

Krones will publish its Annual Report for 2019 and outlook for 2020 on March 19.

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