Krones’ consolidated revenue fell in 2020 as a result of the Covid-19 pandemic by 16.1% to €3.32 billion.
Order intake was also significantly affected by corona and, at €3.31 billion, was 19.0% lower than in 2019. However, the fourth quarter showed first positive signs of improvement.
Krones’ profitability was impacted by one-time expenses of around €72 million for capacity adjustments. EBITDA decreased from €227.3 million to €133.2 million. The EBITDA margin was 4.0% (previous year: 5.7%). Excluding these one-off effects, the EBITDA margin was 6.2% (previous year: 6.6%).
Krones generated free cash flow of €221.3 million in 2020 (previous year: –€94.4 million).
Due to the negative consolidated net income, Krones will pay out only the statutory minimum dividend for 2020. This corresponds to €0.06 per share.