Report for the second quarter 2026

• Krones’ customers continue to show robust willingness to invest. In the second quarter of 2026, the company increased order intake by 3.5%, to €1,340.4 million (previous year: €1,294.5 million). Order intake in the first six months of 2026 consequently rose by 4.5%, from €2,730.4 million in the previous year to €2,852.5 million.
   
• Revenue adjusted for currency translation effects increased by 1.8% in the first half year. Reported revenue was €2,714.9 million (previous year: €2,726.5 million). Based on the book-to-bill ratio of 1.05 in the first six months, Krones expects revenue growth to accelerate in the second half of 2026.
   
• The EBITDA margin from January to June improved from 10.6% in the previous year to 10.8%, which is within the guidance range for the current financial year.
   
• Krones improved free cash flow before M&A activities by €97.2 million in the second quarter of 2026, from −€118.5 million in the previous year to −€21.3 million, and generated ROCE of 17.7% in the first half of the year (prior year: 19.0%).
   
• Following the positive trend in the first half-year, Krones has confirmed the guidance for the full year 2026. The company expects revenue growth of 3% to 5% adjusted for currency translation effects, an EBITDA margin of 10.7% to 11.1% and ROCE of 19% to 20%.

Excel table download

*adjusted for currency conversion effects
** PP = percentage points
*** Cash and cash equivalents less debt
**** Average of last 4 quarters

Excel table download

Dear shareholders and friends of Krones,

On 11 June 2026, I took up the post of Chief Executive Officer (CEO) of Krones AG. I would now like to take this opportunity to address you for the first time. I have been on the Executive Board since 2012. Before I was appointed CEO, I was responsible for Krones’ international sales as Chief Sales Officer from 2018. This means I have a very good understanding of our customers’ needs and the long-term, stable growth drivers in our markets, such as population growth, urbanisation, the growing middle classes in emerging regions, and economic sustainability. These megatrends, combined with our balanced regional revenue split, strict customer focus and innovative solutions are the foundation of Krones’ resilient business model.

Krones confirms full-year guidance for 2026

This resilient business model enabled us to perform well in the second quarter of 2026, despite a persistently very challenging environment. Order intake from April to June showed robust growth with a 3.5% year-on-year increase to €1,340.4 million, while maintaining price discipline. Over the first six months of 2026, order intake was up 4.5%. Revenue adjusted for currency translation effects (+1.8%) and profitability (EBITDA margin: 10.8%) also improved in the first half of the year, despite increasing geopolitical headwinds. All in all, Krones confirms the full-year financial targets for 2026.

Krones stands for technology, quality, customer focus and reliability

Although we are less affected by economic fluctuations, and the long-term drivers of market growth remain intact, the current general economic uncertainties are not making life easier for Krones either. General cost increases are affecting the business operations and short-term investment decisions of some of our customers worldwide. So far, this has not significantly impacted Krones’ order intake, and we expect this positive trend to continue in the second half of the year. However, we are keeping a close eye on the risks.

Over the medium and long term, the challenges faced by our customers – such as the trends in operating costs – present good growth opportunities for Krones. In filling and packaging technology, process technology and intralogistics, we provide innovative solutions to ensure efficient, cost-effective and safe production in the food and beverage industry. Krones stands for technology, quality, customer focus and reliability. We are continually improving and enhancing these fundamental pillars of our company’s successful future.

The Executive Board, which since 1 July 2026 has been expanded to include Bülent Bayraktar and Reinhold Jung, together with the global Krones workforce, will continue to work hard to ensure our customers’ success.

Thomas Ricker
CEO

Krones confirms full-year financial targets for 2026

Despite the volatile geopolitical and geoeconomic situation, Krones started the 2026 financial year with realistic optimism overall. From January to June, the company increased revenue adjusted for currency translation effects and also profitability compared to the same period of the previous year. The order backlog has risen slightly from the start of the year due to the stable high order intake in the first six months of 2026. The substantial order backlog largely ensures production capacity utilisation for the full year 2026. This assessment is also supported by the robust demand for Krones’ products and services. 

At the same time, all businesses face major challenges due to persistent and growing general economic uncertainties. It is thus currently impossible to fully assess how the long-standing conflict in Iran will unfold and how it will affect the economy in the Middle East and, by extension, the global economy. Uncertainty also surrounds global tariff policies, which could lead to a decline in world trade. Material shortages, problems in worldwide supply chains and sharply fluctuating commodity prices remain a further source of uncertainty. All of these macro­economic risks have some impact on our customers’ short-term investment behaviour.

Overall, based on the current expected development of the markets relevant to Krones and the positive first half-year, we confirm our financial targets for 2026. Adjusted for currency translation effects, we expect consolidated revenue growth of 3% to 5%. 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 target, ROCE, Krones expects between 19% and 20% this year. 

The forecast for Krones’ individual segments also remains unchanged relative to the information provided in the Annual Report 2025 and is as follows: