Krones reports stable uptrend

Krones reports stable uptrend
Krones, the world’s market leader for beverage filling and packaging technology, has, according to the provisional figures, finished the 2010 business year within the bandwidth of its best-case prognosis.

Thanks to the current recovery on the sales markets involved, Krones has been able to make full use of its strong market position worldwide and increase its order bookings by +15 % to reach 2,194 million euros (preceding year: 1,916 million euros). Consolidated sales were up by +17 % at 2,173 million euros (preceding year: 1,865 million euros), thus already exceeding the threshold value achieved in the pre-crisis year of 2007.

The programmes implemented for optimising costs and enhancing corporate performance have proved meaningfully efficacious, so that earnings before taxes were improved by a total of 110 million euros. In absolute figures, Krones reports pretax profits of 70.8 million euros, following a loss of 39.2 million euros in the crisis-hit year of 2009. Earnings after taxes are 50.9 million euros (preceding year: - 34.5 million euros).
On the basis of this fine performance and the good starting situation for 2011, the Executive and Supervisory Boards will propose to the AGM a dividend of 40 cents per share (preceding year: no dividend).

Krones’ financial and capital structure is thoroughly sound, with an equity ratio of more than 40 %. On the reporting date of 31 December 2010, the group had no debts with banks, and possessed net liquidity of around 147 million euros. Worldwide, the Krones Group was on 31 December 2010 employing 10,575 people (preceding year: 10,238 employees), of whom 8,280 are working in Germany (preceding year: 8,165 employees).

On the basis of the currently buoyant performance of the global economy and the stable ongoing uptrend, Krones is expecting sales revenues to continue their growth in 2011, with another significant rise in earnings as well.

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