Based on preliminary numbers, Krones significantly improved all key financial performance indicators and exceeded its business targets last year. Despite difficult and uncertain macroeconomic conditions, mainly due to problems in global supply chains and geopolitical risks in Europe, the Krones Group's revenue increased by 15.8% in 2022 compared to the previous year, from 3.63 billion euros to 4.20 billion euros. Krones has surpassed the updated growth target of 10% to 12% published in October 2022 (the original target of 5% to 8%).
Customer demand for Krones products and services was very strong in 2022. Order intake increased by 34% year-on-year. The order backlog also grew strongly. At 3.46 billion euros, it was 83.1% higher at the end of 2022 than at the end of the previous year.
Due to the extensive measures taken by the company to increase its efficiency, Krones' profitability improved in 2022 despite rising material and freight costs. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 19.4% year-on-year, from 312.6 million euros to 373.3 million euros. The EBITDA margin rose to 8.9% (prior year: 8.6%). The final annual financial report will be published on March 23.
Krones started 2023 with an extremely large backlog. However, several uncertainties show that the business environment remains challenging. This includes high inflation and interest rates in many countries, as well as material shortages and geopolitical risks in Europe, which persist. Based on the prevailing macroeconomic outlook and the current expected development of relevant markets for Krones, the company projects consolidated revenue growth of 8% to 11% in 2023.