Krones Maintains Full-Year Targets Amid Mixed Q2 Performance
Krones AG (ETR: KRN) reported a mixed performance in the first half of 2026, with higher order intake and improved profitability despite macroeconomic challenges. The company reaffirmed its full-year financial targets for revenue growth between 3%–5%, an EBITDA margin range of 10.7%–11.1%, and a return on capital employed (ROCE) target of 19%–20%. First-half order intake rose by 4.5% to €2.85 billion, with the backlog reaching approximately €4.3 billion, securing production capacity for the year. Revenue grew 1.8% in a currency-adjusted basis and EBITDA margin improved slightly to 10.8%. Segment performance varied: Intralogistics revenue increased by 9.7%, but margins were below expectations; Process Technology saw declines due to project delays. Free cash flow was negative €30.8 million, driven by higher working capital needs and capital expenditures.