Krones’ business performance remained stable overall from January to September 2026. Revenue adjusted for currency translation effects, order intake and the EBITDA margin all increased compared with the previous year. Due to adverse developments in the markets relevant to the company, which will affect growth in the fourth quarter, Krones has revised its guidance for revenue growth adjusted for currency translation effects in the full year 2026 and the medium-term targets for 2028 on 22 October.
Order intake up 2.9% in first three quarters
Krones’ order intake in the first nine months of 2026 increased by 2.9% year on year, from €4,104.7 million to €4,223.6 million. Customer demand for the company’s products and services is robust overall. General economic uncertainties and our customers’ rising operating costs due to the geopolitical situation are having some impact on orders across Krones’ broad customer and product portfolio. The company has largely been able to offset this effect thanks to its internationally very well-balanced customer base and extensive range of products and services.
The book-to-bill ratio – the ratio of order intake to revenue – was 1.03 in the first three quarters of 2026. As a result, the order backlog increased by 3.0% from January to September to €4,314.3 million (December 31, 2025: €4,190.4 million). It should be noted that the healthy overall order backlog includes customer orders which will turn into revenue end of or beyond 2027.
Revenue adjusted for currency translation effects increased by 0.8% from January to September
In a persistently challenging macroeconomic environment, Krones’ revenue for the first three quarters of 2026, at €4,099.7 million, remained stable compared with the previous year (€4,107.4 million). This includes a negative revenue impact, not recognised in profit or loss, of approximately €20 million due to US tariff refunds. Currency translation effects had a negative impact of approximately €40 million on Krones’ revenue in the first three quarters of 2026. Adjusted for currency translation effects, revenue rose by 0.8% from January to September 2026 compared to the previous year.
Profitability further improved in first three quarters
Krones further improved profitability in the first nine months of 2026. This is mainly a result of the implementation of strategic measures to improve the company’s performance and cost structures. Prices for Krones’ machines and lines remained stable overall in the reporting period.
From January to September 2026, earnings before interest, taxes, depreciation and amortisation (EBITDA) went up by 5.2% year on year, from €430.7 million to €453.1 million. This includes a positive earnings impact, recognised in profit or loss, of approximately €10 million from US tariff refunds. Adjusted for this effect, the EBITDA margin for the first three quarters was 10.8%. This is within the guidance range of 10.7% to 11.1% in the full year 2026. The reported EBITDA margin for the first nine months was 11.1% (previous year: 10.5%).
Due to an increase in depreciation and amortisation of fixed assets and to lower financial income/expense, EBT (earnings before taxes) improved by slightly less than EBITDA in the first three quarters, with an increase of 2.1% to €308.7 million (previous year: €302.3 million). Krones increased consolidated net income by 2.7% to €219.5 million from January to September (previous year: €213.7 million). This equates to earnings per share of €6.94 (previous year: €6.75).
