FX.co ★ Krones Q3 Profit Increases; Backs FY Outlook

Krones AG, a notable German manufacturer specializing in packaging and bottling machinery, has announced a notable increase in its third-quarter profit attributable to its shareholders, reaching €65.6 million or €2.08 per share. This marks an improvement from last year's figures of €54.3 million or €1.72 per share for the same period.

The company also reported an increase in EBITDA for the third quarter, which rose to €134.9 million, compared to €110.9 million recorded in the previous year.

The third quarter revenues saw substantial growth, climbing to €1.32 billion, up from €1.16 billion in the prior year.

Given the favorable performance over the first three quarters, Krones has reaffirmed its full-year 2024 guidance. The company anticipates revenue growth to range between 9% and 13%, an EBITDA margin of 9.8% to 10.3%, and a return on capital employed (ROCE) between 17% and 19%.