Krones Group Annual Report 2022
Krones published its 2022 Annual Report and confirmed its preliminary figures.
2022 Highlights
- Krones grew strongly in 2022. Revenue went up by 15.8% year on year to €4,209.3 million.
- Due to very high customer demand, order intake improved by 34.0% to €5,782.8 million. The order backlog reached €3,466.4 million (up 83.1%).
- Krones further strengthened profitability. EBITDA improved by 19.4% in 2022 to €373.3 million. The EBITDA margin increased from 8.1% in the previous year (excluding one-off effects) to 8.9%.
- The company generated free cash flow of €371.0 million in the reporting year (previous year: €203.3 million). ROCE increased to 14.1% (previous year: 10.0%).
- In view of the positive business performance, Krones intends to pay a dividend for 2022 of €1.75 per share (previous year: €1.40 per share).
- For the full year 2023, the Executive Board forecasts revenue growth of 8% to 11% with an improved EBITDA margin of 9% to 10% and ROCE of 15% to 17%.
| 2022 | 2021 | Change | ||
| Revenue | € million | 4,209.3 | 3,634.5 | + 15.8% |
| Order intake | € million | 5,782.8 | 4,316.2 | + 34.0% |
| Order backlog at 31 December | € million | 3,466.4 | 1,893.0 | + 83.1% |
| EBITDA | € million | 373.3 | 312.6 | + 19.4% |
| EBITDA margin | % | 8.9 | 8.6 | + 0.3 PP* |
| EBIT | € million | 230.4 | 170.9 | + 34.8% |
| EBT | € million | 242.1 | 177.3 | + 36.5% |
| EBT margin | % | 5.8 | 4.9 | + 0.9 PP* |
| Consolidated net income | € million | 187.1 | 141.4 | + 32.3% |
| Earnings per share | € | 5.92 | 4.47 | + 32.4% |
| Dividend per share | € | 1.75** | 1,.40 | + 25.0% |
| Capital expenditure for PP&E and intangible assets | € million | 118.2 | 104.9 | + €13.3 million |
| Free cash flow | € million | 371.0 | 203.3 | + €167.7 million |
| Net cash at 31 December *** | € million | 669.5 | 378.3 | + €291.2 million |
| Working capital to revenue **** | % | 19.0 | 24.8 | – 5.8 PP* |
| ROCE | % | 14.1 | 10.0 | + 4.1 PP* |
| Employees at 31 December | ||||
| Worldwide | 17,164 | 16,303 | + 861 | |
| Germany | 10,130 | 9,821 | + 309 | |
| Outside Germany | 7,034 | 6,482 | + 552 |
*Percentage Points **As per proposal for the appropriation of earnings available for distribution
***Cash and cash equivalents less debt ****Average of last 4 quarters
