Krones Posts Loss In FY20
NEUTRAUBLING (dpa-AFX) - Krones (KRNTY.PK, KRNNF.PK) reported a consolidated net loss of 79.7 million euros in 2020 compared to profit of 9.2 million euros, prior year. Loss per share was 2.52 euros compared to profit of 0.30 euros. EBITDA declined to 133.2 million euros from 227.3 million euros. The EBITDA margin was 4.0% compared to 5.7%. Excluding expenses for capacity adjustment, the EBITDA margin was 6.2% compared to 6.6%.
Fiscal 2020 revenue fell 16.1% year-on-year to 3.32 billion euros. Order intake was down 19.0% year-on-year, to 3.31 billion euros.
For fiscal 2021, Krones forecasts low revenue growth of 2.5% to 3.5%. The Executive Board expects profitability to be better than in 2020. Krones anticipates an EBITDA margin of 6.5% to 7.5% in 2021.