Krones today published its 2022 Annual Report.Revenue topped the €4 billion mark for the first time, rising from €3,634.5 million to €4,209.3 million, an increase of 15.8% on the previous year. Krones thus exceeded the upgraded growth target of 10% to 12% published in October 2022 (original target 5% to 8%).
Customer demand for Krones’ products and services was very strong in 2022. Order intake rose by 34.0% year on year, from €4,316.2 million to €5,782.8 million. The order backlog also grew strongly. At the end of 2022, Krones’ order backlog totalled €3,466.4 million. The order backlog was thus 83.1% up on the previous year (€1,893.0 million).
Thanks to the company’s great flexibility and wide-ranging measures to increase efficiency, Krones was able to improve profitability in 2022 despite rising material and freight costs and resource shortages. This was also partly due to Krones’ price increases, which enabled the company to largely offset the higher costs.
In the Filling and Packaging Technology segment – the largest segment by far – revenue climbed in 2022 by 14.8% year on year to €3,497.3 million. Despite rising material prices and resource shortages, EBITDA increased by 17.5% to €332.7 million. The EBITDA margin rose to 9.5% (previous year: 8.7% excluding one-off effects).
Revenue in the Process Technology segment increased by 23.9% to €367.5 million in 2022. EBITDA went up from €18.6 million in the previous year to €20.4 million. The improved segment earnings reflect the strategic measures implemented by Krones. In 2021, the brewery business was spun off into a separate company and processes were streamlined for project-based business. The EBITDA margin remained almost stable at 5.5% in 2022 (previous year: 6.3%).
Intralogistics has been Krones’ third segment since the beginning of 2022. Its activities were previously part of Process Technology. The new segment’s revenue developed well in 2022, growing by 17.9% to €344.5 million. EBITDA increased by 87% to €20.2 million. The EBITDA margin thus improved to 5.9% (previous year: 3.7%).
