Krones rises after Q3 orders beat expectations

Krones AG

03/11/2023 07:39

** Shares in Krones  KRNG.DE  are seen up 3.5% in early
trade after the German packaging and bottling machine maker
posted "good" Q3 results with better than expected order intake,
and confirmed its guidance
    ** Krones' Q3 order intake rose 4.3% to 1.32 billion euros 
($1.40 billion) compared to estimate of 1.23 billion cited by a
local trader; revenue rose 10% to 1.16 billion euros
    ** "Krones reported good Q3 figures, fully meeting
expectations," Baader Helvea says
    ** It notes that the company's order intake remained strong
and exceeded expectations, despite the still limited
availability of electronic components and the vacation season
    ** "Especially orders should act positive," the trader says
    ** The stock is seen among top movers on Germany's small-cap
index  .SDAXI 


($1 = 0.9406 euros)

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))