Krones rises as strong demand persists in Q2

Krones AG

01/08/2023 07:43

** Shares in Krones  KRNG.DE  rise 1.8% in early Frankfurt
trade after the German packaging and bottling machine maker
reports a rise in Q2 sales and EBITDA
    ** "Very solid 2Q23 with still high order intake," Baader
Helvea says, adding that guidance looks conservative
    ** The broker highlights that demand remained strong in Q2
with order intake at 1.27 billion euros following the
"outstandingly strong" Q1 order intake of over 1.5 billion euros
    ** Q2 revenue rose 12.5% to 1.12 billion euros and EBITDA
was up 20.9% at 106.5 million euros, both above consensus
expectations, a local trader says
    ** Stock seen to top the German small-cap index  .SDAXI 

 (Reporting by Linda Pasquini)
 ((Linda.pasquini@thomsonreuters.com))