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Krones (KRN) investor relations material
Krones Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Profitability increased significantly in H1 2025, with confirmed financial targets for the year despite macroeconomic and geopolitical uncertainties, including US tariff impacts.
Revenue grew 6.7% year-over-year to CHF/€2,727 million, with order intake at €2,730 million, just 2.2% below the prior year.
High order backlog of €4.3 billion ensures capacity utilization through mid-2026, providing strong financial visibility.
Net income rose 8.0% year-over-year to €145.8 million, and earnings per share increased to €4.60.
Free cash flow before M&A at €47 million, and ROCE reached 19.0%, within the target range.
Financial highlights
EBITDA grew 12.6% year-over-year to €289 million, margin improved to 10.6% (from 10.0%).
EBT margin increased to 7.5%, with EBT up 10.7% to €206 million.
Material cost ratio reduced to 47% due to cost savings; personnel costs rose 11% due to headcount and wage increases.
Equity increased by €46 million, equity ratio now 41.4%; working capital at 17.1% of revenue.
Net cash at €375–377 million, with liquidity reserves of €1.23 billion.
Outlook and guidance
Full-year 2025 guidance confirmed: revenue growth 7–9%, EBITDA margin 10.2–10.8%, ROCE 18–20%.
Segment guidance: Filling & Packaging 7–9% revenue growth, 10.5–11% EBITDA; Process Tech 0–5% revenue, 9–10% EBITDA; Intralogistics 15–20% revenue, 6.5–7.5% EBITDA.
Midterm 2028 targets reaffirmed: revenue ~€7.0 billion, EBITDA margin 11–13%, ROCE >20%.
H2 expected to be stronger, especially September–November.
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