NEUTRAUBLING (dpa-AFX) - Beverage filling and packaging company Krones AG (KRNTY.PK, KRNNF.PK) reported that its net income for fiscal year 2019 dropped to 9.2 million euros or 0.30 euros per share, from 150.6 million euros or 4.78 euros per share in the prior year.
Consolidated earnings before taxes or EBT decreased to 41.7 million euros from 204.3 million euros in the previous year.
Annual revenue increased 2.7 percent to 3.96 billion euros from 3.85 billion euros in the previous year.
The company will propose a dividend of 0.75 euros per share for the 2019 financial year, compared to 1.70 euros per share paid last year.
Based on the general economic outlook and the effects of the coronavirus with information as of early March, Krones expects stable consolidated revenue in 2020 with an EBITDA margin of around 6.7% to 7.2%.
But, the company said it is unable to provide reliable predictions for revenue and earnings in 2020, due to global developments surrounding the coronavirus in recent days.
The Executive Board is confident that structural measures will continue to have a positive impact on earnings in 2020.
The company noted that the medium and long-term outlooks remain positive. This is because consumer demand for packaged beverages and liquid foods will continue to grow worldwide.
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