NEUTRAUBLING (dpa-AFX) - Krones AG (KRNTY.PK, KRNNF.PK), a German packaging and bottling machine maker, on Tuesday reported a rise in earnings for the first-half, amidst an improvement in revenue, supported by a strong demand and normalization of customer orders.
In addition, the Group has raised its full year 2023 guidance.
For the six-month period to June 30, the company posted a consolidated net income of 121.4 million euros or 3.84 euros per share, higher than 83.2 million euros or 2.63 euros per share, posted for the same period of 2022. Earnings before taxes or EBT were at 161.1 million euros as against last year's 113.2 million euros.
EBIT stood at 143.1 million euros, higher than 108.1 million euros of previous year. EBITDA increased to 221.4 million euros from 175.1 million euros a year ago. The EBITDA margin consequently rose from 8.8% to 9.5%.
Order backlog as of June 30 was at 3.931 billion euros, compared with previous year's 3.014 billion euros. However, order intake moved down to 2.785 billion euros from 3.106 billion euros a year ago.
The company generated revenue of 2.320 billion euros, versus last year's 1.984 billion euros.
Citing good total operating performance in the second quarter, the Group has raised its full-year 2023 revenue growth to a range of 11% - 13% from its previous expectation range of 8% - 11%.
Krones aims to further improve profitability and expects an EBITDA margin of 9% - 10%. Last year, the company had posted EBITDA margin of 8.9%.
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