Krones rises as strong order intake boosts 9-month results

Krones AG

04/11/2022 09:05

** Shares in Krones  KRNG.DE  are up nearly 4% after the
Bavarian beverage bottling plant manufacturer posted a
year-on-year increase in 9-month results driven by order intake
    ** "Krones' 3Q22 figures are characterized by still very
strong order intake, a dynamic YoY increase in revenues and very
strong profitability more than 15% above consensus," Baader
Helvea says
    ** The brokerage says that strong results ahead of
expectations indicate that the FY22 margin guidance might be
surpassed
    ** Krones' 9-month order intake came in at EUR 4.6 bln, up
by 44.1% from year earlier, while revenue grew 15% to EUR 2.643
mln in the January-September period
    ** Baader Helvea notes Krones' order backlog reached new
all-time high, highlighting the order book is almost full until
mid-2024 and the project pipeline is still strong despite rising
materials, energy and freight costs
    ** The broker still considers Krones shares as attractively
valued and therefore reiterates its "buy" recommendation
    ** The stock is at the top of Germany's small-cap
index .SDAXI  and headed for its best day since October 
    ($1 = 1.0231 euros)
 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))