Krones AG : Q4 due 23 Feb. 2023 – Reshaped company profile & underlying trends are not fully reflected, we lift our TP to € 129 (€ 123)
>Strong finish to 2022, our Q4 EBITDA forecast provides 5% upside to consensus - We expect Krones to have shown a strong finish in FY 2022 by exceeding its revenue growth guidance of 10-12% y-o-y (ODDO BHFe: +14% y-o-y) and reaching the upper end of its 8.0%-9.0% EBITDA-margin target (ODDO BHFe: 9.0%). We forecast FY 2022 order intake increase of 31% y-o-y to € 5.6bn as underlying trends are set to continue: 1/ sustainability targets of customers, 2/ structural bevera...Krones maintains three segments: machines and lines for product filling and decoration, which provides product treatment technology, systems engineering, labelling technology, inspection technology, filling technology, cleaning technology, plastics technology, packing and palletizing technology, and conveyor technology; machines and lines for beverage production/process technology, which provides brewhouse and filtration technology, information technology, internal logistics, and materials flow technology; and machines and lines for the low output range, which provides labelling technology, filling technology, plastics technology, packing and palletising technology, and conveyor technology.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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