DGAP-News: Krones AG: Krones achieves its targets for 2012
(firmenpresse) - DGAP-News: Krones AG / Key word(s): Preliminary Results
Krones AG: Krones achieves its targets for 2012
21.03.2013 / 07:30
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21 March 2013
Corporate news release
Krones achieves its targets for 2012
Krones, the world's market leader in beverage filling and packaging
technology, increased all key financial performance indicators over the
previous year as planned in 2012. Consolidated revenue rose 7.4% from
EUR 2,480.3 million to EUR 2,664.2 million. New orders improved 8.2%
year-on-year from EUR 2,514.0 million to EUR 2,721.1 million in 2012.
At EUR 97.9 million, earnings before taxes (EBT) were up 31.2% in 2012 over
the previous year (EUR 74.6 million). EBT was impacted by the one-time
expense relating to settlement payments made in connection with Krones'
legal disputes in the US (Le-Nature's). This resulted in a EUR 37.8 million
charge against EBT for 2012. The charge against earnings resulting from the
Le-Nature's case in the previous year was EUR 36.7 million. The settlement
payments were made in the financial year 2012.
The EBT margin - the ratio of earnings before taxes to sales - improved
from 3.0% in the previous year to 3.7% in 2012. Adjusted to exclude the
one-time expense, Krones' EBT margin was 5.1% in 2012 (previous year:
4.5%). Thus, the company achieved its target of an operating EBT margin of
more than 5% in the reporting period. Earnings in all three of the
company's segments also developed according to plan in 2012.
Krones' net income was up 53.3% to EUR 67.0 million in 2012. The increase
in
net income was far bigger than the increase in EBT because the company's
tax rate decreased from 41.5% to 31.6%. In 2011, Krones had to pay back
taxes for previous years following a tax audit.
Earnings per share came to EUR2.22 in the reporting period (previous year:
EUR 1.45). Adjusted to exclude the one-time expense, earnings per share
would be EUR 3.07 (previous year: EUR 2.33).
Despite the payments Krones made to settle the legal disputes in the US in
2012, the company generated positive free cash flow of EUR 30.6 million in
2012. At the end of 2012, Krones held cash and cash equivalents totalling
EUR 132.9 million (previous year: EUR 125.5 million) and had no bank debt.
Given the positive operating trend in the financial year 2012, the
Supervisory Board and the Executive Board will propose to the shareholders'
meeting a dividend of EUR0.75 per share (previous year: EUR0.60 per share).
Krones will publish a report on expected developments for the financial
year 2013 as well as the complete financial statements for 2012 on the day
of the company's financial press conference, which will take place on 24
April 2013.All figures stated here are preliminary figures and may change
as a result of the auditors' findings.
Your contact person:
Olaf Scholz
Head of Investor Relations Krones AG
Phone: +49 9401 70-1169
Mobile: +49 151 12248730
E-mail: olaf.scholz(at)krones.com
End of Corporate News
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21.03.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Krones AG
Böhmerwaldstraße 5
93073 Neutraubling
Germany
Phone: +49 (0)9401 701169
Fax: +49 (0)9401 709 1 1169
E-mail: investor-relations(at)krones.com
Internet: www.krones.com
ISIN: DE0006335003
WKN: 633500
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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204619 21.03.2013
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Datum: 21.03.2013 - 07:30 Uhr
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News-ID 241595
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