Krones Q3 Report 2023
Capacity utilisation at Krones improved slightly in the third quarter of 2023 compared to the previous quarter but remained below the maximum capac- ity. Due to the tight situation on procurement markets, especially for electrical components, production conditions in the third quarter were challenging overall. Thanks to the high flexibility and creativity of its employees, however, Krones was able to continue its stable growth. Reve- nue from July to September 2023 was up 10.0% year on year, rising from €1,058.9 million to €1,164.7 million. In total over the first three quarters of 2023, revenue thus grew by 14.5%, from €3,043.7 million a year earlier to €3.485.6 million. Volume effects contributed more to revenue growth than price increases. Revenue was not materially affected by exchange rates, acquisitions or divestments in the first nine months of 2023.
Earnings
Despite a shortage of electrical components, higher procurement prices and changes in the product mix, Krones significantly improved profitability in the third quarter of 2023 compared to the previous year. As in the first half of the year, this is largely due to the company’s flexibility. In addition, we were able to offset rising material and personnel costs through our price increases.