Krones Group Annual Report 2021
Krones published its 2021 Annual Report and confirmed its preliminary figures.
2021 Highlights
- Krones recovered very well in 2021 from the pandemic-related recession in 2020. The company improved revenue by 9.4% to €3,634.5 million.
- Order intake increased by 30.5% and reached an all-time record level of €4,316.2 million.
- Krones significantly improved profitability. EBITDA increased from €133.2 million to €312.6 million. The EBITDA margin thus improved in 2021 to 8.6% (previous year: 4.0%). Adjusted for one-off effects, the EBITDA margin was 8.1%, compared to 6.2% in the previous year.
- Krones generated free cash flow of €203.3 million in the reporting year (previous year: €221.3 million).
- In view of the positive business performance, the company intends to pay a dividend for 2021 of €1.40 per share (previous year: €0.06 per share).
- For the full year 2022, the Executive Board forecasts revenue growth of 5% to 8% with an improved EBITDA margin of 8% to 9% and ROCE of 10% to 12% (2021: 10.0%).
| 2021 | 2020 | Change | ||
| Revenue | € million | 3,634.5 | 3,322.7 | + 9.4 % |
| Order intake | € million | 4,316.2 | 3,307.0 | + 30.5 % |
| Order backlog at 31 December | € million | 1,893.0 | 1,211.3 | + 56.3 % |
| EBITDA | € million | 312.6 | 133.2 | + 134.7 % |
| EBITDA margin | % | 8.6 | 4.0 | + 4.6 PP* |
| EBIT | € million | 170.9 | – 40.8 | – |
| EBT | € million | 177.3 | – 36.6 | – |
| EBT margin | % | 4.9 | – 1.1 | + 6.0 PP* |
| Consolidated net income | € million | 141.4 | – 79.7 | – |
| Earnings per share | € | 4.47 | – 2.52 | – |
| Dividend per share | € | 1.40** | 0.06 | – |
| Capital expenditure for PP&E and intangible assets | € million | 104.9 | 93.8 | + €11.1 million |
| Free cash flow | € million | 203.3 | 221.3 | – €18.0 million |
| Net cash at 31 December *** | € million | 378.3 | 184.9 | + €193.4 million |
| Working capital to revenue **** | % | 24.8 | 28.3 | – 3.5 PP* |
| ROCE | % | 10.0 | – 2.2 | + 12.2 PP* |
| Employees at 31 December | ||||
| Worldwide | 16,303 | 16,736 | – 433 | |
| Germany | 9,821 | 10,364 | – 543 | |
| Outside Germany | 6,482 | 6,372 | + 110 |
*Percentage Points **As per proposal for the appropriation of earnings available for distribution
***Cash and cash equivalents less debt ****Average of last 4 quarters
