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Krones (KRN) investor relations material

Krones Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary7 Nov, 2025

Executive summary

  • Profitable growth continued in Q3 2025, with revenue up 6.0% year-over-year and EBITDA margin reaching 10.5% for the first nine months, in line with expectations.

  • Order intake in Q3 2025 was €1.4 billion, 3.9% above prior year, and order backlog remained high at €4.3 billion, securing capacity utilization through mid-Q3 2026.

  • Financial targets for 2025 are confirmed, with robust customer investment activity and innovation in digitalization and lifecycle services driving engagement despite global uncertainties.

  • Participation at DrinkTech/drinktec showcased digitalization and lifecycle services, enhancing competitive positioning and customer relationships.

  • High order backlog and strong liquidity provide financial stability and visibility for the coming year.

Financial highlights

  • Q3 2025 revenue reached €1,380.9 million, up 4.7% year-over-year; nine-month revenue at €4,107.4 million, up 6.0%.

  • EBITDA for Q3 was €142.2 million (10.3% margin); nine-month EBITDA at €430.7 million (10.5% margin), up 0.4 percentage points year-over-year.

  • Net income for Q3 was €67.9 million (+3.3% YoY); year-to-date net income at €214 million.

  • Free cash flow (excluding M&A) for nine months: €80 million; outlook for 2025 around €200 million.

  • Equity ratio improved to 42.1%, with equity at €2.029 billion and liquidity reserves at €1.24 billion.

Outlook and guidance

  • 2025 guidance confirmed: revenue growth of 7–9%, EBITDA margin of 10.2–10.8%, and ROCE/ROSI of 18–20%.

  • Q4 expected to be strong, with high visibility from backlog and scheduled negotiations.

  • Mid-term 2028 targets: revenue around €7.0 billion, EBITDA margin 11–13%, ROCE >20%.

  • Segment guidance for 2025: Filling and Packaging Technology revenue +7–9%, Process Technology +0–5%, Intralogistics +15–20%.

Assess drinktec's strategic value beyond Q3 financials
Explain operating cash flow's 'other assets' impact
What factors explain Krones' share underperformance vs MDAX?
New business model adoption timeline
US production expansion strategy
Customer decision-making trends for 2026
DrinkTech's new business model: customer adoption?
Q4 EBITDA margin outlook, ex-DrinkTech costs?
US localization: new machine business potential?
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Frequently asked questions

Krones AG is a Germany-based manufacturer of machinery and systems for beverage and liquid food processing and packaging. The company offers bottling lines, labeling equipment, and logistics solutions for breweries, soft drink producers, and food manufacturers. It also provides engineering and after-sales services. Krones AG is headquartered in Neutraubling, Germany, and its shares are listed on the XETRA.

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