• Krones increased revenue by 9.7% to €1,556.4 million in the fourth quarter of 2025 compared to the prior-year quarter. Over the full year, revenue increased by 7.0% year on year to €5,663.8 million. The company thus continued on its profitable growth path in 2025 despite challenging conditions.
• Krones’ customers continue to show robust willingness to invest. In the fourth quarter of 2025, order intake increased by 8.6% year on year to €1,460.0 million. At €5,564.7 million, order intake in 2025 exceeded the already high prior-year figure by 1.9%. Krones had orders on hand totalling €4,190.4 million at the end of 2025 (previous year: €4,289.5 million).
• In the fourth quarter of 2025, EBITDA increased by 17.5% year on year to €171.6 million. The EBITDA margin rose to 11.0% (previous year: 10.3%). Krones also significantly strengthened profitability in the full year 2025. EBITDA increased by more than revenue, rising by 12.2% to €602.3 million. As a result, the EBITDA margin improved from 10.1% in the previous year to 10.6%.
• Krones generated free cash flow before acquisitions of €202.7 million in the fourth quarter of 2025 (previous year: €147.5 million). In the full year 2025, free cash flow before acquisitions amounted to €282.9 million. ROCE (return on capital employed) increased significantly to 19.1% (previous year: 18.2%).
• The Executive Board is realistically optimistic for the 2026 financial year and forecasts 3% to 5% growth in revenue adjusted for currency translation effects. The EBITDA margin is expected to improve further to between 10.7% and 11.1%. For the third financial performance target, ROCE, Krones expects between 19% and 20%.

Based on the preliminary figures for the 2025 financial year, Krones has continued its stable and profitable growth path despite the macroeconomic uncertainties. The company’s markets are generally less affected by economic fluctuations and Krones’ customers continue to show robust willingness to invest.

Sharp fourth-quarter rise in order intake and revenue – full-year 2025 guidance met

The stable condition of Krones’ customer industries is reflected in the fourth quarter 2025 order intake, which at €1,460.0 million was 8.6% up on the previous year. Order intake also increased over the full year 2025 and, at €5,564.7 million – with strict adherence to the pricing strategy – was 1.9% above the previous year’s already high level (€5,460.7 million).

At the end of December, Krones had orders on hand totalling €4,190.4 million (31 December 2024: €4,289.5 million). The solid order backlog ensures production capacity utilization in the line and project business well into the third quarter of 2026.

Revenue increased by 9.7% to €1,556.4 million in the fourth quarter of 2025 compared to the prior-year quarter. In the full year 2025, revenue increased by 7.0% from €5,293.6 million to €5,663.8 million. Krones thus achieved the growth forecast of 7% to 9% for 2025, despite negative currency translation effects. The depreciation of the US dollar and other currencies against the euro in the reporting period had a translation impact of €99 million on revenue. As expected, the book-to-bill ratio – the ratio of order intake to revenue – was close to 1, at 0.98 in the full year 2025.

Krones significantly improves profitability – EBITDA margin up from 10.1% to 10.6% in full year 2025

Krones further strengthened profitability in 2025. This was mainly due to efficiency gains in production and implementation of strategic measures to improve performance and the company’s cost structures.

Between October and December 2025, earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 17.5% year on year to €171.6 million. The EBITDA margin rose from 10.3% to 11.0%. In the full year 2025, EBITDA also grew by more than revenue, increasing 12.2% from €537.1 million to €602.3 million. Krones significantly improved the EBITDA margin to 10.6% (previous year: 10.1%). The company thus achieved its margin target of 10.2% to 10.8% for 2025.

Earnings before taxes (EBT) increased by 11.1%, from €381.6 million in the previous year to €424.1 million in the full year 2025. The EBT margin consequently rose from 7.2% to 7.5%. The increase in consolidated net income to €299.2 million (previous year: €277.2 million) results in earnings per share of €9.45 for 2025 (previous year: €8.77).

Krones generates high free cash flow – sharp rise in ROCE

From January to December 2025, the company improved free cash flow by €134.5 million to €247.7 million (previous year: €113.2 million). Krones spent a total of €35.2 million on acquisitions (previous year: €179.3 million). Free cash flow before M&A activities consequently amounted to €282.9 million, nearly matching the previous year’s very high level of €292.5 million. This was due to a major extent to the performance in the fourth quarter of 2025. From October to December, Krones generated free cash flow before M&A activities of €202.7 million (previous year’s period: €147.5 million). Return on capital employed (ROCE) increased substantially from 18.2% to 19.1% in 2025. The ROCE target for the reporting year was 18% to 20%.

Krones continues to have a very solid and stable financial and capital structure. Net cash, meaning cash and cash equivalents less bank debt, stood at €548.2 million at the end of December 2025 (previous year: €439.9 million). The equity ratio rose to 42.2% (previous year: 40.5%).

All stated figures are preliminary and are subject to change in the course of auditing by the independent auditors. Krones publishes its annual report for 2025 on 20 March 2026.

Executive Board forecasts profitable growth in 2026

Krones made a good start to the 2026 financial year. However, there are various unpredictable factors that could affect the company’s business processes and production. These include geopolitical risks in Europe, the Middle East and other parts of the world. Another source of uncertainty is the global tariff policy, which could create a downturn in global trade. Material shortages and problems in global supply chains also remain a source of uncertainty. The forecast of revenue is impacted by significant volatility of exchange rates.

Based on the prevailing macroeconomic outlook and the current expected development of the markets relevant to Krones, the company expects consolidated revenue growth, adjusted for currency translation effects, of 3% to 5% in 2026.

On the basis of increasing operating revenue, an ongoing disciplined price strategy and continued implementation of the cost optimisation measures, Krones aims to improve profitability again this year compared to 2025. At group level for 2026, the company forecasts an EBITDA margin of 10.7% to 11.1%. For the third financial performance target, ROCE, Krones expects 19% to 20% in the current year.