Krones AG (KRNNF) Q1 2025 Earnings Call Transcript

2025-05-09 11:05:26 ET

Krones AG (KRNNF)

Q1 2025 Earnings Conference Call

May 9, 2025 7:00 AM ET

Company Participants

Olaf Scholz - Head, Investor Relations

Christoph Klenk - Chief Executive Officer

Uta Anders - Chief Financial Officer

Conference Call Participants

Benjamin Thielmann - Berenberg

Lars Vom-Cleff - Deutsche Bank

Peter Rothenaicher - Baader Bank

Presentation

Operator

Good afternoon and a warm welcome to our -- to the Krones Conference Call. My name is Olaf Scholz, I'm head of investor relations here at Krones. We have had a good start into 2025, and so we continued our profitable growth path. With strong figures and an improvement in all key figures, we published our Q1 results in the morning. But nevertheless, there are also uncertainties in the world, which could affect the world economy.

Well, that's the situation. Christoph Klenk and Uta Anders will give you more details about these figures and will give you also additional information. After the presentation, you will have the opportunity to ask questions. I think you also know how the Q&A questions work. You can raise your hand over the Teams function or send me shutter short just a short email, sorry. Additional, please be reminded that this meeting will not be recorded. So please also deactivate any functions of recording at Teams. I think let's start with the presentation.

So, I hand over to Christoph Klenk. Christoph, the floor is yours. I'm sorry.

Christoph Klenk

Thanks, Olaf. Yes, good afternoon, warm welcome on behalf of the two of us here. Pleasure to have you here today and give you insights where we are after Q1 and how we see actually the perspective of Krones in 2025 and beyond. I can say before I start, we are quite pleased where we are. So the results are good and in line with our planning, and we come to that in a minute.

And as always, I skip, let me say, the overviews and we jump immediately into the order intake, which might be one of the important topics where we are with this and how our outlook is in particular under the few of the tariffs we are facing in the U.S. or we might face or might not face. Order intake, as you can see, at above EUR1.4 billion we are quite heavy with the number we achieved here. And again, in line with what we have discussed here, as we said, it should be between EUR1.4 billion and $1.45 billion, so quite being at the target with this one.

We have seen in the order intake already a bit of a slowdown from the U.S. and could compensate that, fortunately, from other areas, in particular from Africa, Middle East and South America, so that helped quite a lot to be there. I mean, uncertainty, I come to that in a minute after I have spoken on how we are distributed over the world that we talk about the tariffs as well. But all in all, we are quite happy.

And if you look further down the road for the next quarters, we would see the way that the pipeline is really strong. However, uncertainty plays a big role into it. And the question is how much is actually postponed or not. So we do expect for Q2 a slightly lower order intake than we see in Q1. Nevertheless, we keep what we have said in terms of that we see that year-on-year, we should have a ratio around 1. So book-to-bill, so that should be that the case after 2025, and we are still sticking to that target....

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