NEUTRAUBLING (dpa-AFX) - Krones AG (KRNTY.PK, KRNNF.PK), a German packaging and bottling machine maker, on Thursday registered a rise in preliminary net profit for the full year, reflecting an improvement in revenue as the company compensated the higher cost of materials with price increases on its products.
For the 12-month period, Krones recorded a net profit of 224.6 million euros or 7.11 euros per share, compared with 187.1 million euros or 5.92 euros per share, posted last year.
Earnings before taxes stood at 310.5 million euros as against previous year's 242.1 million euros.
EBITDA improved to 457.3 million euros from 373.3 million euros in 2022.
EBITDA margin moved up to 9.7 percent from previous year's 8.9 percent.
Revenue was 4.720 billion euros, up from 4.209 billion euros a year ago.
Looking ahead, for the full year, the company expects a revenue growth of 9 percent to 13 percent with EBITDA margin of 9.8 percent to 10.3 percent.
Krones is scheduled to release its annual report on March 22.
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