2024-05-05 04:05:21 ET
Krones AG (KRNNF)
Q1 2024 Results Conference Call
May 03, 2024 07:00 AM ET
Company Participants
Olaf Scholz - Head-Investor Relations
Christoph Klenk - Chief Executive Officer & Chairman-Executive Board
Uta Anders - Chief Financial Officer
Conference Call Participants
Sven Weier - UBS
Sebastian Growe - BNP Exane
Christoph Dolleschal - HSBC
Andrea Gabellone - KBC
Benjamin Thielmann - Berenberg
Lars Vom-Cleff - Deutsche Bank
Peter Roth - Baader Bank
Presentation
Olaf Scholz
So good afternoon, and welcome to the conference call of Krones. Krones continues profitable growth path. This was the headline of our press release in the morning. Now we would like to present you the figures and give further details about the first quarter 2024.
After the presentation by Christoph Klenk and Uta Anders, you will have the opportunity to ask questions. I think you also know how the question-and-answer session works. Please send me a short e-mail, or use the function or raise your hands in teams. And then I will hand over to you.
So let's start with the presentation. So I hand over to Christoph Klenk. Christoph, the floor is yours.
Christoph Klenk
Yes. Hola, thanks. Warm welcome, everybody, ladies and gentlemen to the Krones conference call for Q1.
Uta would like to give you an overview of where we are and why we are convinced to reach our guidance for 2024. I will skip the first slide, at least I try to. Good. Here's the summary. But since we are going in anything in detail, I don't think we need to talk about this one here. And I would say here are the highlights. I don't jump into that either. Why? Because we are jumping immediately to the real numbers and talk about that.
If you look for order intake, I mean, we are down, that sounds in the beginning a bit strange by 2% compared to Q1 last year. But nevertheless, we believe it's a very strong number, €1.5 billion roughly, so it's €1.48 billion, but €1.5 billion was actually the result we were targeting for, and we believe it's a very strong signal that our markets are working. I'm happy with that. I would say if you look to a bit more in detail, I would say, bottling and packaging was strong on new machine side as well as on the life cycle side.
Processing was a bit slow and was compensating by bottling and packaging, as I said, and even Intralogistics is on a good path in terms of order intake. So all-in-all, I would say it's very nice. And if you compare to the last quarter 2023 to Q1 this year, even a very nice increase, I don't have to repeat the numbers. So we are happy where we are for the time being. I will come to order intake in a minute a bit more.
Just before that, I want to reflect to order backlog. So even the order backlog has further risen, of course, with the good order intake we had. This gives us a pretty good visibility for 2024 and 2025 either. So we are, I would say, in terms of production utilization already beyond the mid of the year in 2025 and have a good view on the second half of 2025. So a very good one in terms of having security on what we say and that we believe that we can manage actually the revenue growth we are anticipating....
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Krones AG (KRNNF) Q1 2024 Earnings Call Transcript