NEUTRAUBLING (dpa-AFX) - Krones AG (KRNTY.PK) announced that it has published 2017 annual report and confirmed preliminary figures released on 22 February 2018. The company's 2017 revenue increased 8.8% year-on-year to EUR 3.69 billion. Adjusted for acquisitions, revenue was up 7.2%. EBT improved 8.9% to EUR 258.8 million, while net income increased 10.7% to EUR 187.1 million. Earnings per share rose to EUR 5.97.
The company's Executive Board and the Supervisory Board to propose to the annual general meeting on 13 June 2018 to increase dividend from EUR 1.55 to EUR 1.70 per share.
Krones expects consolidated revenue to grow by 6% in 2018, profitability to remain stable despite investment in digitalisation and start-up costs associated with expanding its global footprint, in particular for the new site in Hungary.
In addition, Krones expects the reported EBT margin to be 7.0% in 2018 and working capital to revenue, to improve to 26%.
Copyright RTT News/dpa-AFX