NEWS

German packaging group Krones sees higher 2015 margin, sales

Thursday, Mar 19, 2015

German beverage filling and packaging technology firm Krones expects to continue to benefit from cost cuts after reporting 2014 earnings in line with expectations and forecast higher sales in 2015.

Earnings before taxes (EBT) rose 13 percent to 191.8 million euros ($205.42 million) in 2014, which was in-line with the average in a Reuters poll.

The company, which makes equipment that helps companies to package and fill wine and beer bottles as well as boxes for cosmetics and pills, said on Thursday it expected sales to rise 4 percent this year, driven by emerging markets.

At the same time, it expects its EBT margin to rise to 6.8 percent from 6.5 percent last year.

Krones also proposed a dividend of 1.25 euros per share for 2014. Last year, Krones paid a dividend of 1 euros per share and another euro per share as a special dividend.

Krones shares were indicated to open 0.1 percent lower, slightly better than the German blue chip index which was indicated to open 0.6 percent lower.

 

reuters.com

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